All planned summer work programs completed and analysis underway
VANCOUVER, British Columbia–(BUSINESS WIRE)–$QNI #nickel—Qu�bec Nickel Corp. (CSE: QNI; FSE: 7lB; OTCQB: QNICF) (QNI or the “Company“) is pleased to announce it has added a third diamond drill rig to the Ducros Project, located approximately 80 kilometres northeast of Val-dOr, Québec. Following the Companys recent drilling success at the Fortin Sill Zone, including a 8.43 metre-long intersection assaying 1.85% Ni, 1.65% Cu (3.50% Ni + Cu), 576 ppm Co and 3.27 g/t Pt-Pd-Au in hole QDG-22-29 (see August 30, 2022 News Release), a third drill rig was recently mobilized to project and is being used to accelerate the current and ongoing 20,000 metre drilling program. The focus of work for the third machine is to advance the understanding of the size and geometry of the Fortin Sill Zone. The first drill continues to systematically test the interpreted strike extents of the Ni-Cu-PGE-mineralized body as well as other geophysical & geological targets in the general area that are interpreted to be potential continuations of the Fortin Sill Zone and/or new mineralized intrusions.
As announced in the Companys September 20, 2022 News Release, a second drill was mobilized to the property in September to begin a 3,000 metre program at the Ducros Ultramafic Sill Complex (DUSC) target area (Figure 1). To date, just over 50% of the planned drilling at the DUSC target area has been completed. The DUSC drilling program is currently paused during the fall moose hunt and will resume later in October.
QNIs CEO, David Patterson, comments “ considering the outstanding results weve seen so far from drilling at the Fortin Sill Zone, it was obvious we needed to ramp-up the work here to better understand what it is we have at Fortin. At the same time, we didnt want to sacrifice the important work thats going on elsewhere at the project, including the drilling at the DUSC target, so it only made sense to add another rig to the project. Were looking forward to sharing the results of all this hard work really soon.
Fortin Sill Ni-Cu-PGE Zone Drilling Summary & General Exploration Update
The Phase II drilling program began this past April at the Fortin Sill Ni-Cu-PGE showing and started with the collaring of hole QDG-22-09, which was designed to verify the results returned historical hole GCF-08-07, which intersected 0.82% Ni + Cu and 0.65 g/t Pt-Pd-Au over a core length of 20.7 metres at a downhole depth of 4.50 metres. Assay results from QDG-22-09 improved upon the historical drill intercept in terms of both overall grade and core length (see May 16, 2022 News Release for more information). Two additional holes were completed from the same set-up as QDG-22-09, namely QDG-22-10 & 11, to test for the continuity of the Ni-Cu-Co-PGE-Au mineralization on section with QDG-22-09 and GCF-08-07. This drilling was successful at expanding the mineralized zone at Fortin Sill on section to the southwest (see June 6, 2022 News Release for more information and Figure 2 below).
In light of these strong results, a number of step-out holes were collared to the southeast of the Fortin Sill Zone discovery outcrop, including drill holes QDG-22-28 and QDG-22-29. Previously reported assay results are summarized below in Table 1 and are highlighted by a 35.63 metre-long intersection that returned 1.13% Ni + Cu, 238 ppm Co and 1.01 g/t Pt-Pd-Au, and includes higher grade sub-intervals of 1.44 % Ni, 1.49 % Cu, 461 ppm Co and 2.79 g/t Pt-Pd-Au over 11.80 metres and 1.85% Ni, 1.65% Cu (3.50% Ni + Cu), 576 ppm Co and 3.27 g/t Pt-Pd-Au over 8.43 metres in hole QDG-22-29. Of note, a one-metre-long sample from hole QDG-22-29 containing heavy net-texture chalcopyrite and pyrrhotite (35-40% total sulphides) returned 1.98% Ni + 2.77% Cu (4.75% Ni + Cu), 624 ppm Co and 5.78 g/t Pt-Pd-Au. A drill section and plan map showing the location of drilling at the Fortin Sill Zone are provided below as Figures 2 & 3. Assay results for the four additional holes completed from the same location as QSDG-22-28 & QDG-22-29 are pending and will be released when available.
Ducros Property Exploration Update
As announced in QNIs June 13, 2022 News Release, the Company initiated multiple work programs during the summer to support the ongoing 20,000 metre drilling campaign. The Company is pleased to report these work programs have either been completed or are in the final stages of completion and include:
Core and Rock Processing & QAQC
Québec Nickel has implemented a quality assurance and quality control (QAQC) program for its Ducros Project, to ensure best practices for logging, sampling and analysis of its drill core as well as for the collection and analyses of surface rock samples. This includes the regular insertion of geochemical blanks, duplicates and multiple Ni-Cu-PGE-Au certified reference material standards (CRMs) into the sample stream.
Drill core is collected by Ducros project personnel daily from the drill rigs and transported to QNIs core logging facility in Val-dOr in secured core boxes. Logging is completed on laptops and data are captured using fit-for-purpose computer software.
Core destined for geochemical analyses is identified and labeled by core logging geologists and is then sawed in half by a diamond blade. One half of the NQ-diameter core sample is placed in a labeled and secured sample bag. The remaining half of the core sample is returned to its core box for archiving. All core samples are transported from QNIs logging facility to AGAT Laboratories sample preparation facility in Val-dOr in secured and numbered rice bags by project personnel.
AGAT Laboratories is accredited to the ISO/IEC 17025:2017 and ISO 9001:2015 standards. Analysis for precious metals (gold, platinum, and palladium) is completed by Fire Assay with an ICP-OES finish while analyses for nickel, copper, and 41 other elements are performed using AGATs 4 Acid Digest Metals Package, with an ICP-OES finish.
QUALIFIED PERSON
Gary DeSchutter, M.Sc., P.Geo., Vice-President of Exploration for Québec Nickel Corp., and a Qualified Person (QP) as defined under National Instrument 43-101 (NI 43-101), has reviewed and approved the scientific and technical content of this news release.
ABOUT QUEBEC NICKEL CORP.
Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing nickel projects in Québec, Canada. The Company owns a 100% interest in the Ducros Property, consisting of 280 contiguous mining claims covering 15,147 hectares within the eastern portion of the Abitibi Greenstone Belt in Québec, Canada. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed forward-looking statements. All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions, or other factors should change.
Contacts
On behalf of the Board of Directors
David Patterson
Chief Executive Officer and Director
1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com
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