First Nickel and more nickel

First Nickel (FNI-T) intersected significant nickel on its Dundonald nickel property, 60 km east of Timmins, Ont.

Highlighting drill results is a 4.28-metre intersection that graded 4.42% nickel at a down hole depth of 172.5 metres. This included a 2-metre intercept that graded 6.83% nickel. This hole also intersected 1.2-1.86% nickel in three 0.6-1.17-metre horizons up hole of this.

Nine holes totaling 1,119 metres tested the North sector of the Dundonald south nickel zone. A high of 10.5% nickel and 1.55% copper was intersected over 0.45 metre. Nine other assays from five holes ranged from 0.7-7.4% nickel over 0.2-7.85 metres at depths from 60-113 metres.

Holes were drilled on a grid pattern. Three holes, drilled near surface and near the edge of the B zone within the North sector, failed to intersect significant mineralization.

Two drills are turning on the property, testing the North and South sectors. The program is planned to total 15,000 metres.

The South sector, 125 metres south of the North sector, is also being drilled in an attempt to delineate a resource. Both zones strike east, are open along strike, and dip steeply south. Within the zones there are multiple, parallel high-grade nickel horizons that are hosted within a komatiitic volcanic package.

First Nickel began trading at the end of June, following the transfer of the Dundonald property from Falconbridge (FL-T). In addition the company acquired the right to earn a half-interest in 12 unpatented mining claims in an area northwest of Timmins. Falconbridge owns 18.4% of the issued and outstanding shares of First Nickel. At July 31, First Nickel had just over 39 million shares outstanding and working capital of $11.5 million.