Independent Nickel Corp. Begins 20,000 meter Drill Program At Lynn Lake Nickel Mine
Tuesday March 6, 6:00 am ET
biz.yahoo.com
SUDBURY, ON, March 6 /CNW/ - Independent Nickel Corp. (INI: TSX-V) has commenced the 20,000 meter drill program at the Lynn Lake Nickel Mine Property.
Foraco Canada Ltd. recently delivered the first drill to the property and has committed to deliver a second drill outfit to the property by late March.
The drilling program is designed to test four large mineralized areas in the mine environment. The Company's goal with the current program is to complete the necessary work so that infill drilling can then move underground.
First priority drill targets include:
- Drilling around the historic, near surface 'M' deposit where historic
intercepts included up to 0.8% nickel, 0.5% copper over 14 feet;
- Testing of the 'Golf' mineralized zone and the highly conductive body
above the known mineralization, which includes 75 feet grading
1.2% nickel, 0.5% copper and a separate intersection of 55 feet
grading 1.7% nickel and 0.6% copper;
- Testing of the 1,200 foot long 'Echo' zone, which extends from near
surface to below the 3,000 feet level and where historic intercepts
included 14.4 feet of mineralization grading 2.2% nickel; and
- Infill drilling of the Hotel target;
In addition to the diamond drilling being done at the mine property, the Company is continuing with pre-feasibility level engineering studies and establishing the permit requirements for the mine's dewatering and reopening.
The Qualified Person responsible for the technical content of this news release is Richard Murphy, P. Geo., President and CEO of Independent Nickel Corp.
The Company also reports that it has granted a total of 1,821,488 options exercisable at $0.90 per share for a period of 5 years to certain directors, officers, and employees.
This document may contain forward-looking statements relating to Independent Nickel Corp.'s (INI) operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond INI's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. INI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE
For further information
Independent Nickel Corp., Richard Murphy, President and CEO, Tel: (705) 521-8444, Email: info@independentnickel.com, 957 Cambrian Heights Drive, Suite 102, Sudbury, Ontario, P3C 5M6
Source: Independent Nickel Corp. |
