Continental Nickel Reports Additional Sulphide Intersections at Nachingwea, Including 1.54% Nickel and 0.33% Copper Over 3.8 Met
16 December 2009 - 11:01PM
Marketwired Canada
Continental Nickel Limited (TSX VENTURE:CNI) ("Continental" or the "Company") is
pleased to report the final assay results from the remaining eight drill holes
of the twenty-two hole 2009 drilling program at the Nachingwea Project in
Tanzania. The Nachingwea Project is a 70:30 Joint Venture between Continental
Nickel and IMX Resources Limited ("IMX") of Australia. Highlights include
multiple intervals of sulphide mineralization intersected in three drill holes
drilled along a 300 metre strike length of Anomaly C at Ntaka Hill. Assay
results include 1.54% nickel and 0.33% copper over 3.8 metres, within a wider
7.6 metre interval grading 1.06% nickel and 0.30% copper in drill hole
NAD09-181. Narrow intervals of high grade sulphide mineralization were also
intersected, including 0.8 meters grading 3.05% nickel and 0.38% copper in
NAD09-181 and 4.84% nickel and 0.80% copper over 0.25 metres in drill hole
NAD09-185. Subsequent bore hole EM (BHEM) surveys completed in two of these
holes indicate that the drill holes intersected the edge of the targeted
conductor and associated sulphide mineralization.
In 2009, thirty-five airborne VTEM targets were evaluated by ground geophysical
EM surveying from 25 fixed loops, totalling 98.7 line kilometres of survey.
Twenty eight targets and areas (including six targets covered with ground EM
surveys) were also explored with geological mapping and soil and stream
geochemical sampling surveys (545 soil and 89 stream sediment samples collected)
for which assay results have yet to be received.
A drill program completed during September and October 2009 tested eleven EM
anomalies with twenty-two drill holes totalling 3,922.9 metres. Results from
fourteen drill holes, totalling 2,311.9 metres, were reported previously (see
press release dated November 24, 2009) and the remaining eight drill holes
totalling 1,611.0 metres are reported herein (Table I). Drill hole and target
locations are shown on the attached figures.
Ntaka Hill
As reported previously, drill testing of a 500 metre long, high conductance EM
anomaly (referred to as Anomaly C) intersected multiple zones of nickel-rich,
sulphide mineralization highlighted by drill hole NAD09-180 which intersected a
9.0 meter interval of disseminated, net-textured to massive, sulphide
mineralization grading 1.64% nickel and 0.29% copper. Included within this
interval was a higher grade massive sulphide section grading 4.31% nickel and
0.60% copper over 2.4 metres (see press release November 24, 2009).
Additional drilling along the strike of Anomaly C (drill holes 181, 182 and 185,
reported herein) intersected various multiple zones of disseminated, net
textured, or semi-massive sulphides along a 300 metre strike length of the
anomaly. Drill hole 181, drilled 200 metres south of drill hole NAD09-180 and
near the mid-point of the anomaly, intersected three zones of sulphide
mineralization including 7.6 metres grading 1.06% nickel and 0.30% copper, which
includes a 3.80 metre interval grading 1.54 % nickel and 0.33% copper; 0.80
metres grading 3.05% nickel and 0.38% copper and a lower 6.15 metre interval
grading 0.57% nickel and 0.12% copper. The drill hole is thought to have
intersected the edge of the sulphide body previously intersected by discovery
drill hole NAD09-180. A subsequent bore hole EM survey detected a strong off
hole EM anomaly centered to the south and west of the drill hole.
Drill hole NAD09-182, drilled 50 metres south of drill hole NAD09-180 and 150
metres north of hole NAD09-181, intersected multiple zones of sulphide
mineralization similar to that intersected in drill hole NAD09-181. Assay
results include 0.63% nickel and 0.16% copper over 9.1 metres, including 1.91 %
nickel and 0.55% copper over 1.05 metres. A borehole EM survey of the drill hole
also indicates that the hole intersected the edge of the sulphide body which is
centered to the east and north of the drill hole.
Drill hole NAD09-185 was drilled 100 metres south of drill hole NAD09-181 and is
the southernmost hole to test Anomaly C. This drill hole also intersected
numerous zones of nickel-bearing, disseminated, net-textured to narrow
semi-massive sulphide mineralization similar to holes NAD09-180 and 181,
including a narrow zone of semi-massive sulphide grading 4.84% nickel and 0.80%
copper over 0.25 metres. Although this drill hole has yet to be surveyed with
bore hole EM, the style of mineralization is again suggestive of an edge type
intersection.
Two drill holes were also completed in the area of Anomaly B. Drill hole
NAD09-184 was drilled 50 metres up dip of drill hole NAD09-177 which intersected
a sulphide interval grading 1.64% nickel and 0.29% copper over 3.0 metres
(previously reported). Drill hole NAD09-184 did not intersect any sulphide
mineralization up dip of drill hole NAD09-177. Drill hole NAD09-183 tested a
parallel conductor to the west of the sulphide zone intersected in drill hole
NAD09-177 and intersected a narrow sulphide zone grading 1.19% nickel and 0.50%
copper over 2.0 metres. A bore hole EM survey of this drill hole indicates that
the hole intersected the edge of a conductor centered south of the drill hole.
Lionja
As previously reported, drill hole NRD09-019 was drilled to a depth of 392.3
metres to test a strong off-hole conductor at depth, which was detected in the
BHEM survey of drill hole NAD016. The hole intersected numerous bands of
graphitic gneiss with minor amounts of pyrrhotite at the target depth for which
assays were pending at the time of the last press release. Assay results have
since been received and no significant concentrations of nickel or copper were
detected at the target depth. The drill hole did, however, intersect some narrow
zones of sulphide mineralization at shallow depths including 1.05% nickel and
0.15% copper over 0.25 metres. This shallow mineralization is thought to be
related to a south dipping zone of sulphide mineralization intersected in a
number of previous drill holes as shown on the attached figure for the Lionja
area. This sulphide zone may be improving down dip at depth as reflected by the
sulphide intersection from drill hole LID08-005EXT which graded 2.03% nickel and
0.41% copper over 2.25 metres (reported in press release dated November 24,
2009).
Regional Targets
Assay results from two final drill holes completed to test regional targets have
been received. At the Ntaka 10 target area, a second drill hole, NAD09-020 was
completed to test an off-hole BHEM anomaly from a first hole (NAD09-015
previously reported) which intersected a sulphide bearing ultramafic intrusion
with only low nickel and copper concentrations. Drill hole NAD09-020 also
intersected a 23.0 metre interval of ultramafic rock with intermixed graphite
and 1-10% pyrrhotite at the target depth. Assay results confirmed only low
concentrations of nickel and copper associated with the ultramafic.
At the Mnero 1 target area, drill hole NRD09-016 was drilled to a depth of 257.3
metres to test a deep conductive anomaly. The drill hole intersected a 33 metre
interval of semi-massive graphite at the target depth. No significant assay
results were received.
Craig MacDougall, President & CEO of Continental Nickel Limited, reported "we
are very encouraged that wide step out drilling to evaluate the Ntaka C anomaly
along strike has continued to intersect numerous zones of nickel bearing
sulphide mineralization in the central portion of the Ntaka intrusion. This
includes high grade massive sulphide mineralization as intersected in the
discovery drill hole NAD09-180. The latest drilling south of the discovery hole
appears to have intersected the edge of a potential sulphide body and more
drilling is planned in 2010 to fully evaluate the size and grade of this zone.
With the receipt of these final drill results and soon the regional geochemical
sampling results, the exploration team will now begin work on new target
selection for exploration during the 2010 regional exploration program, as well
as continuing exploration on identified targets to expand the defined Mineral
Resources at Ntaka Hill."
Qualified Persons
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.
Quality Control
The drilling was completed by Tandrill Limited of Tanzania. Drill core samples
(NQ) are cut in half by a diamond saw on site. Half of the core is retained for
reference purposes. Samples are generally 1.0 metre intervals or less at the
discretion of the site geologists. Sample preparation is completed at the ALS
Chemex preparation lab in Mwanza, Tanzania. Sample pulps are sent by courier to
ALS Chemex analytical laboratory in Vancouver, Canada. Blank samples and
commercially prepared and certified Ni sulphide analytical control standards
with a range of grades are inserted in every batch of 20 samples or a minimum of
one per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide
fusion preparation and ICP-AES finish (ME-ICP81). Analyses for Pt, Pd, and Au
are by fire assay with an ICP-AES finish (PGM-ICP23).
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, where NI 43-101 Mineral Resources have been
defined, and an option joint venture on the St. Stephen project in New
Brunswick, Canada. Continental Nickel has 30,132,395 shares issued and
outstanding (32,799,895 on a fully-diluted basis) and trades on the TSX Venture
Exchange under the symbol CNI. The Company remains well funded with over C$9.3
million in the treasury.
On behalf of Continental Nickel Limited
Craig MacDougall, President & Chief Executive Officer
CAUTIONARY STATEMENT: 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 exploration results is based on
data collected under the supervision of or compiled by Patricia Tirschmann, P.
Geo., holds the position of Vice President, Exploration and is a full time
employee of Continental Nickel Limited. Ms. Tirschmann is a registered member of
the Association of Professional Geoscientists of Ontario and has 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. Ms. Tirschmann consents to the inclusion of the data
in the form and context in which it appears.
Table I: Summary of Recent Assay Results, Nachingwea Project, Tanzania.
----------------------------------------------------------------------------
Drillhole Location Az / Dip Length From To Inter- % Ni % Cu %Co
(UTM - (m) (m) (m) val
WGS84) (m)
----------------------------------------------------------------------------
(NAD09) Ntaka Hill (Anomalies B & C)
----------------------------------------------------------------------------
181 450762E 270 / -85 188.0 111.4 119.0 7.60 1.06 0.30 0.05
8883798N Incl:
115.2 119.0 3.8 1.54 0.33 0.07
126.5 127.3 0.8 3.05 0.38 0.14
137.0 143.15 6.15 0.57 0.12 0.03
Incl:
139.9 141.0 1.1 1.42 0.28 0.07
----------------------------------------------------------------------------
182 450760E 90 / -75 152.3 39.0 44.75 5.75 0.52 0.23 0.03
8883950N Incl:
40.7 41.15 0.45 1.39 0.56 0.07
43.5 43.9 0.40 1.04 0.31 0.05
59.9 69.0 9.10 0.63 0.16 0.03
Incl:
65.05 69.0 3.95 0.97 0.27 0.04
67.95 69.0 1.05 1.91 0.55 0.08
118.35 125.25 6.90 0.55 0.21 0.03
----------------------------------------------------------------------------
183 450424E 270 / -65 116.3 72.85 74.85 2.00 1.19 0.50 0.03
8884100N Incl:
74.3 74.85 0.55 2.20 1.31 0.05
----------------------------------------------------------------------------
184 450513E 270 / -73 134.5 NSA NSA NSA
8884200N
----------------------------------------------------------------------------
185 450710E 270 / -85 200.3 43.0 53.75 10.75 0.55 0.10 0.02
8883701N Incl:
50.8 51.05 0.25 4.84 0.80 0.14
70.4 74.0 3.6 0.54 0.19 0.02
100.0 101.0 1.0 0.51 0.16 0.03
----------------------------------------------------------------------------
Lionja Target Area
----------------------------------------------------------------------------
NRD09-019 448900E 010 / -70 392.3 37.75 38.0 0.25 0.53 0.18 0.04
8876040N
39.35 39.6 0.25 1.05 0.15 0.07
----------------------------------------------------------------------------
Mnero 1 Target Area
----------------------------------------------------------------------------
NRD09-016 459369E 270 / -70 257.3 NSA NSA NSA
8857807N
----------------------------------------------------------------------------
Ntaka 10 Target Area
----------------------------------------------------------------------------
NRD09-020 454719E 90 / -75 170.3 NSA NSA NSA
8875196N
----------------------------------------------------------------------------
Note: Intervals represent core lengths, not necessarily true widths.
Pt, Pd and Au assay results are not reported because in general, they are less
than 1.0 g/t on a combined basis.
NSA - No Significant Assays;
Please note: Figures 1, 2, and 3 are available at the following links:
http://media3.marketwire.com/docs/cni1216figure1.pdf
http://media3.marketwire.com/docs/cni1216figure2.pdf
http://media3.marketwire.com/docs/cni1216figure3.pdf
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