Royal Nickel Corporation Discovers New High Grade Ni-Cu-PGE Mineralization at West Raglan
Sep 29 15
Royal Nickel Corporation has discovered new high grade Ni-Cu-PGE mineralization at multiple locations during the 2015 exploration season at its 68% owned West Raglan nickel sulphide project located in northern Quebec. Royal Nickel Corp. has completed a summer exploration program at its West Raglan property consisting of extensive prospecting over the Red, CDC, Beverly, Boomerang, Blue and Pure portions of the North (Raglan) trend and 10 drill holes totaling 1,493 meters. Prospecting along 29 km of strike length of the North (Raglan) trend has resulted in 3 new high grade mineralization discoveries at surface. Highlight results from individual grab samples from these discoveries include: CDC Zone, 2.86% Ni, 1.40% Cu, 4.80 g/t Pd and 1.17 g/t Pt; Boomerang Zone, 1.35% Ni, 0.35% Cu, 1.61 g/t Pd, and 0.70 g/t Pt; Beverly Zone, 1.11% Ni, 0.40% Cu, 1.31 g/t Pd and 0.46 g/t Pt. In addition to these discoveries, a surface extension of high grade mineralization previously identified at the Red Zone was defined by grab samples with grades up to 1.79% Ni, 1.85% Cu, 2.21 g/t Pd and 0.49 g/t Pt. These discoveries demonstrate the occurrence of high grade Ni-Cu-PGE mineralization outside of the Frontier zone and that the potential for the discovery of high grade deposits on the West Raglan property extends for tens of km along the strike of the North (Raglan) Trend at surface. The success of this year's program highlights the exploration potential of the remaining portions of the North (Raglan) trend and South (Nunavik Nickel) trend. Only 20% of the West Raglan property was covered by the 2015 prospecting program. Drilling at Frontier has helped define the grade and extent of known lenses of high grade Ni-Cu-PGE sulfide mineralization and drilling at Beverly Zone has yielded new evidence of Ni-enriched ultramafic packages. Highlights include: 15-TR-042 28.5 m grading 2.91% Ni, 1.23% Cu, 2.31 g/t Pd and 0.59 g/t Pd; 15-TR-033 0.75 m grading 4.19% Ni. 2.26% Cu, 0.76 g/t Pt and 2.89 g/t Pd; 15-TR-034 1.3 m grading 0.95% Ni. 0.45% Cu, 0.38 g/t Pt and 2.03 g/t Pd and 15-TR-035 1.5 m grading 0.51% Ni, 0.17% Cu, 0.09 g/t Pt and 0.34 g/t Pd. Regional exploration: during a four week program in August of 2015 prospecting was completed over 29 km of strike length of the North (Raglan) trend on the Red CDC, Beverly, Boomerang, Blue and Pure zones. New high grade Ni-Cu-PGE mineralization has been discovered at surface at Red, CDC, Beverly, and Boomerang zones. These discoveries demonstrate the occurrence of high grade Ni-Cu-PGE mineralization outside of the Frontier zone and that the potential for the discovery of high grade deposits on the West Raglan property extends for tens of km along the strike of the North (Raglan) Trend at surface. Prior to the discovery of the high grade surface mineralization in 2015, three holes totaling 411 meters were drilled at the Beverly zone to test new VTEM targets. While drilling did not intersect high grade Ni-Cu-PGE intersections, disseminated high Ni tenor sulphide mineralization was intersected providing evidence for nickel enrichment of primary magmatic sulfides outside of Frontier. Frontier Zone Drilling: historically, over $50 million has been spent in exploration on the 400 square kilometer West Raglan property including the drilling of 229 diamond drill holes totaling over 43,541 meters. Drilling has previously been focused on Frontier where 5 lens clusters of high grade Ni-Cu-PGE sulphide mineralization have been found. Highlights from historical drilling at the Frontier Zone include: Seahawk A: 28.28 m grading 3.21% Ni, 1.32% Cu, 2.43 g/t Pd and 0.65 g/t Pt; Frontier Central: 10.50 m grading 2.78% Ni, 1.21% Cu, 2.78 g/t Pd and 0.80 g/t Pt; Frontier East: 7.62 m grading 2.54% Ni, 1.42% Cu, 1.56 g/t Pd and 0.39 g/t Pt and frontier south: 20m grading 2.41% Ni, 0.92% Cu, 2.28 g/t Pd and 0.66 g/t Pt. The 2015 summer exploration program at Frontier consisted of 7 holes totaling 1,082 meters to test the extent of known high grade Ni-Cu-PGE's lenses and to complete minor infill drilling. The Frontier deposits and the new 2015 discoveries occur in the same geological setting as the Raglan mine in ultramafic intrusions and flows occurring stratigraphically below the Chukotat Group basalt. The mineralization is also very similar to the typical ores from the neighbouring Raglan mine, which are amongst rich Ni-Cu-PGM mines in the world. The Raglan Mine hosts similar clusters of mineralized lenses in 12 distinct zones, four of which are currently in production and feeding a central mill facility. The excellent prospectivity of the West Raglan property is highlighted by the quality of the mineralization identified at surface and by drilling, the large volume of fertile ultramafic rocks, the numerous discrete electromagnetic conductors, and the strong similarities with other published mineral deposits in the belt. The West Raglan exploration model is based on the potential to build on the success of historical discoveries at Frontier and new property-wide discoveries made in 2015 to define Raglan-style lens clusters that will support mining development.
Royal Nickel Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2015
Aug 7 15
Royal Nickel Corporation reported unaudited consolidated earnings results for the second quarter ended June 30, 2015. For the period, the company incurred a net loss of CAD 1.2 million or CAD 0.01 per share compared to a net loss of CAD 3.0 million or CAD 0.03 per share in the same period in 2014. The net loss decrease of CAD 1.8 million is due primarily to lower general and administrative expenses (CAD 1.7 million).
Royal Nickel Corporation Receives Positive Federal Environmental Assessment Decision for Dumont Project
Jul 30 15
Royal Nickel Corporation announcef the receipt of a positive Environmental Assessment Decision for the Dumont Nickel Project from the Federal Minister of the Environment. The Minister has determined that the project is not likely to cause significant adverse environmental effects with the implementation of the mitigation measures outlined in the Comprehensive Study Report and has therefore referred the project back to the responsible authorities, Fisheries and Oceans Canada and Natural Resources Canada, for the issuance of permits.