Fletcher Nickel Finds Texmont Extension, Completes Historical Reserve Confirmation Drilling, Commences Permitting Work
22.05.08
Toronto, Canada – Fletcher Nickel Inc (TSX: FL) has completed initial phase confirmation drilling of the Texmont Mine’s historical reserves. When all assay data have been returned and QA/QC confirmed, an updated resource estimate will be completed using both current and available historical data.
Drilling Deeper
Encouraged by the evident continuity and substantial widths of mineralization in the Mine, including mineralized material in an envelope surrounding the 0.7% Ni cut-off grade applied to the historical ore reserve calculations, one drill rig will now be dedicated to delineate deeper resources in a zone where historical mineralized intersections are known to occur.
On-Strike Mineralization Confirmed
The Company has also confirmed that the disseminated nickel-sulphide mineralized envelope occurs in substantial widths along strike to the north of the mine, along a trend determined by recently acquired geophysical data. Two holes (-50 degrees) were drilled on a section 400 metres north of the former Texmont shaft and two further holes (-50 degrees) were drilled on a section 600 metres north of the shaft.
The shallower hole in the nearer section encountered 59.5 metres of disseminated nickel mineralization at an average grade of 0.27% Ni including three more-highly mineralized zones, one having a 1 metre section of 0.86% Ni. The undercutting hole encountered new zones of disseminated nickel mineralization over 57.4 metres including a 7 metre section of 0.4% Ni.
In the more distant section 200 metres north, the shallower hole encountered 111.5 metres of disseminated mineralization at an average grade of 0.29% Ni. The undercutting hole encountered 76.2 metres of disseminated mineralization averaging 0.30% Ni as well as encountering a further 9.7 metre section of 0.36% Ni.
A second drill will be employed to determine the strike extent and continuity of the nickel-sulphide mineralized envelope to the north which, from the geophysical interpretation, appears to possibly extend throughout some 1100 metres north of the former mine shaft.
Permitting Started for Texmont Re-Commissioning
In light of the preliminary results from re-drilling of the former Mine’s reserves, the Company has retained Nordmin Engineering Ltd. to undertake a study of the Mine’s re-commissioning. Engineering design will focus on the opportunity for early bulk-tonnage mining possibly utilizing the 15 by 5.5 foot shaft which presently extends to 790 feet below surface, serving five developed levels. Blue Heron Solutions for Environmental Management Inc. and AMEC Americas Limited have been engaged to complete all indicated permitting requirements.
Qualified Person
Fletcher Nickel’s drill core is secured from the gated Texmont Mine site to a locked warehouse in Timmins for geological logging, and mineralized sections are split by diamond saw – half core is retained in the warehouse for future examination and verification. Mineralized half-core is sampled, numbered and bagged under the supervision of a qualified geologist, and the samples are crushed at True North Mineral Laboratories in Timmins, and pulps are sealed and shipped to Activation Laboratories Ltd in Ancaster (Actlabs), Ontario for assay. Actlabs’ quality assurance system is accredited to ISO/IEC 17025 standards with CAN-P-1579 (Mineral Analysis) for specific registered tests by the Standards Council of Canada. Fletcher also inserts standards and blanks into assay batches to confirm assay batch consistency. Hadyn R. Butler, P.Geo, is a qualified person within the meaning of National Instrument 43-101 and is retained as such as an independent exploration program consultant by Fletcher Nickel. Mr. Butler supervised the preparation of the disclosure in this release, and has verified the data disclosed in this release, including the sampling, analytical and test data underlying the information.
For Further Information:
Bruce Hodgman
Communications Director
Direct: (416) 642-3575 (ext: 103)
info@fletchernickel.com
