Continental Nickel Files a National Instrument 43-101 Technical Report on SEDAR for the Nachingwea Project, Tanzania
13 August 2009 - 10:00PM
Marketwired
Continental Nickel Limited (TSX VENTURE: CNI) ("Continental" or the
"Company") is pleased to report that it has filed a National
Instrument (NI) 43-101 Technical Report relating to the Mineral
Resource Estimate for its Nachingwea nickel sulphide project on
SEDAR and has posted a copy on the company website
(www.continentalnickel.com).
The NI 43-101 Technical Report and Mineral Resource Estimate
were completed by Scott Wilson Roscoe Postle Associates Inc. (Scott
Wilson RPA) of Toronto, Ontario. The results of the Mineral
Resource Estimate were previously reported in a company news
release on July 15, 2009. As stated in that release, Measured and
Indicated Mineral Resources at Ntaka Hill total 3,085,000 tonnes
grading 1.31% nickel, 0.24% copper and 0.04% cobalt calculated at a
US$23 /tonne Net Smelter Return (NSR) cut-off.
The Nachingwea project is a 70:30 Joint Venture with IMX
Resources Limited ("IMX") of Australia and is comprised of
Prospecting Licenses and applications for licenses covering a
regionally extensive land position totalling 7,560 square
kilometres, much of which has had only minimal exploration. To
date, six separate nickel-copper sulphide deposits have been
discovered by the Joint Venture at Ntaka Hill. In 2009, Continental
is conducting a CAD$2.5 million exploration program at Nachingwea
to continue the search for nickel sulphide deposits in this
emerging new nickel district. Some twenty eight airborne VTEM
anomalies have been identified for further work as part of this
program and a 3,000 metre diamond drill campaign is expected to
commence in September. Continental Nickel remains well funded with
CAD$11.6 million in the treasury.
Qualified Persons
The NI 43-101 Technical Report and Mineral Resource Estimate was
prepared by Scott Wilson Roscoe Postle Associates Inc. of Toronto,
Ontario under the supervision of Chester Moore, P. Eng., Principal
Geologist. Mr. Moore is an independent qualified person as defined
by National Instrument 43-101. The quality control, technical
information and all aspects of the exploration program were
supervised by Patricia Tirschmann, P. Geo., Vice President,
Exploration for CNI. The information in this release was prepared
under the direction of Craig MacDougall, P. Geo., President and
Chief Executive Officer for Continental Nickel Limited. Both Ms.
Tirschmann and Mr. MacDougall are qualified persons as defined by
National Instrument 43-101.
About Continental Nickel
Continental Nickel Limited is focused on the exploration and
discovery of nickel sulphide deposits in geologically prospective,
but under-explored regions globally. Current projects include its
70% controlling interest in the Nachingwea project in Tanzania and
an option joint venture on the St. Stephen project in New
Brunswick, Canada. Continental Nickel has 30,132,395 shares issued
and outstanding (32,442,395 on a fully-diluted basis) and trades on
the TSX Venture Exchange under the symbol CNI.
On behalf of Continental Nickel Limited
Craig MacDougall, President & Chief Executive Officer
CAUTIONARY STATEMENT: No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This News Release includes certain
"forward-looking statements". All statements other than statements
of historical fact included in this release, including, without
limitation, statements regarding potential mineralization and
reserves, exploration results, future plans and objectives of
Continental Nickel Limited, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from Continental Nickel Limited's expectations
are the risks detailed herein and from time to time in the filings
made by Continental Nickel Limited with securities regulators.
Information in this announcement relating to the estimation of
Mineral Resources is based on data verified and estimation
methodologies supervised by Mr. Chester Moore who is a Principal
Geologist with Scott Wilson Roscoe Postle Associates Inc. of
Toronto Ontario, Canada. Information relating to exploration
results and data used in the Mineral Resource estimate was gathered
and compiled under the supervision of Ms Patricia Tirschmann who
holds the position of Vice President, Exploration and is a full
time employee of Continental Nickel Limited. Mr. Moore is a
registered member of the Association of Professional Engineers of
Ontario and Ms. Tirschmann is a registered member of the
association of Professional Geoscientists of Ontario. Each have
sufficient relevant experience to qualify as a Competent Person
under the 2004 Edition of the Australasian Code for the Reporting
of Exploration Results, Mineral Resources and Ore Reserves. Mr.
Moore and Ms. Tirschmann all consent to the inclusion of the data
in the form and context in which it appears.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Continental Nickel Limited Craig MacDougall, P. Geo.
President and CEO (416) 364-7111 (416) 364-8114 (FAX)
info@continentalnickel.com www.continentalnickel.com
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