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Nickel One reports near-surface assays north of Hemlo

by Greg Klein | June 8, 2016

With results in from an additional 10 holes and 1,200 metres, Nickel One Resources TSXV:NNN found promising near-surface intervals at its Tyko project in northwestern Ontario. The campaign targeted the property’s RJ and Tyko zones, as well as the Bruce Lake anomaly.

Highlights reported June 8 show:

Hole TK-06-006 at the Tyko zone

  • 0.93% nickel, 0.5% copper and 0.68 ppm platinum group elements over 15.86 metres, starting at 22.28 metres in downhole depth

  • (including 1.03% nickel, 0.55% copper and 0.75 ppm PGEs over 13.42 metres)

  • (which includes 1.51% nickel, 0.73% copper and 1.02 ppm PGEs over 2.62 metres)
Nickel One reports near-surface assays north of Hemlo

Hole TK-06-010 at the upper Tyko zone

  • 0.84% nickel, 0.39% copper and 0.59 ppm PGEs over 8 metres, starting at 7 metres

  • (including 2.52% nickel, 0.9% copper and 1.62 ppm PGEs over 1 metre)

Hole TK-06-010 at the lower Tyko zone

  • 1.06% nickel, 0.35% copper and 0.65 ppm PGEs over 6.22 metres, starting at 49.93 metres

  • (including 4.71% nickel, 0.82% copper and 2.55 ppm PGEs over 0.87 metres)

Hole TK-06-011 at the Tyko zone

  • 1.47% nickel, 0.49% copper and 0.71 ppm PGEs over 6.05 metres, starting at 8.75 metres

  • (including 2.12% nickel, 0.48% copper and 0.94 ppm PGEs over 3.15 metres)

True widths weren’t available.

The announcement follows results for four holes reported in April, which included an RJ zone intercept of 1.04% nickel over 16.19 metres. This year’s drilling totalled 14 holes and 1,780 metres.

“The new results support the magma conduit model, developed by Fladgate Exploration Consulting and previously tested at the RJ occurrence,” said president/CEO Vance Loeber. “Initial results support this model which potentially links the RJ and Tyko zones, separated by 1.5 kilometres, as part of a pipe-like feeder system.”

The 11,168-hectare property features very high “sulphide tenors of the nickel-copper-platinum group elements mineralization,” the company stated. “Total sulphur analysis completed by Nickel One indicated tenors in 100% sulphide that average 8.6% nickel, 4.6% copper and 3.3 ppm PGEs at the RJ zone and 16.3% nickel, 8.7% copper and 12.8 ppm PGEs at the Tyko zone.” Those results strengthen the case for finding a potentially economic disseminated sulphide deposit, as well as the theory that the property contains a magmatic feeder system, the company added.

Nickel One hopes “to delineate this feeder system and ultimately develop a mineral resource.”

Located about 40 kilometres north of Hemlo, the project can be reached by float plane and logging roads.

Read more about Nickel One Resources.

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