PR Newswire
VANCOUVER, BC, June 28, 2021
VANCOUVER, BC, June 28, 2021 /PRNewswire/ -- Nickel Rock Resources Inc. (the "Company" and "Nickel Rock") (TSX-V: NICL), (OTCQB: NICKLF), (FSE: NMK2) is pleased to announce that an initial phase of the Nickel Project exploration program has been completed. The Nickel Project ("Project") consists of four non-contiguous mineral claims groups held by Nickel Rock Resources Inc. through three separate agreements. The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.
Robert Setter, Company President and CEO comments "We are very excited about the results from our initial exploration program on the Hard Nickel claim group. The team has worked very hard to get to where we are now. During this initial exploration, we have recorded some relatively high Ni readings measured via portable XRF on the Nickel S block, with one being 4% Ni, and another registering approximately 6000 ppm in the Nickel W block. It should be noted that although pXRF does not necessarily reflect bulk rock composition, it is a good indication that we are on the right track here. Furthermore, field work verified the presence of strongly magnetic and serpentinized ultramafic rocks on both the Nickel W and S blocks, corresponding to geophysical magnetic anomalies highlighted from Geoscience BC's QUEST-West survey. Our geological team suspects these ultramafic rocks have potential to host awaruite mineralization."
Exploration Program
2021 Work Program
The Company currently has approximately $1.4 million in its treasury to fully fund its 2021 proposed work program.
The proposed work program consists of trenching, surface exploration, diamond drilling, camp construction, and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping. The company proposes a 12-man camp to be built in a cirque on the north slope of the un-named mountain west of and adjacent to Mount Sydney Williams, and will be built next to a sub-alpine lake at the headwaters of Van Decar Creek. The location of camp was selected based on past exploration camps at this location and is suitable for supporting exploration. Camp will be used to accommodate field personnel and will be accessed with helicopter.
The Company estimates that this proposed work program will include $600,000 in exploration expenditures spent over the summer - fall of 2021 which will fulfill the Company's flow-through mining exploration commitments for the 2021 calendar year.
Qualified Person
Jacques Houle, P.Eng., a qualified person as defined by NI 43 – 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.
About Nickel Rock Resources Inc.
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. (http://www.nickelrockresources.com/)
About Clayton Valley Lithium Project
Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/
About the British Columbia, Canada Nickel Projects
The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented.
On Behalf of the Board of Directors
"Robert Setter"
Robert Setter, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
Nickel Rock Resources Inc.
1220 – 789 West Pender Street
Vancouver, BC, Canada V6C 1H2
604- 428-5690
www.nickelrockresources.com
[email protected]
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SOURCE Nickel Rock Resources Inc.