The final 8 of 19 diamond drill holes on Pure Nickels (NIC-T) Fond du Lac nickel-copper property in Northern Saskatchewan have confirmed nickel mineralization.
The company drilled a total of 3,100 metres in 2007, focusing on the Rea Lake mineralization, a strong magnetic feature 600 metres to the south, and a potential extension to the Axis Lake East zone horizon.
Highlights from the final results included a 41.4-metre intersection grading 0.12% nickel and 0.11% copper, which confirmed the thickness and extent of the stratabound mineralization on the western portion of Rea Lake. This section of the 3-km horizon is two to three times as thick as the central and eastern portions.
The drilling confirmed that thick intervals of the Rea Lake mineralization can be traced from surface down dip for at least 250 metres.
Pure Nickel drilled 1.3 km to the east of the Axis Lake East zone, proving that the zone extends much further east than the company thought.
The company also reported that an exploratory drill hole in a large magnetic feature located 600 metres south of Rea Lake intersected 3 disseminated nickel-copper sulphide intervals with grades similar to those in the Rea Lake horizon.
Pure Nickel shares were up 14%, or 10, to 80 apiece in Toronto today on a trading volume of 88,000 shares.
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