Drill results from eight holes are highlighted by one that cut 5 metres grading 1.43% nickel (including 1.5 metres of 2% nickel) and, 50 metres farther down-hole, 2.1 metres grading 3.74% nickel (including 1.2 metres of 5.82% nickel). The deeper intersection corresponds with the F zone whereas, higher in the hole, the G zone was cut.
Gold, platinum and palladium assays have been received for some of the holes, one of which returned 15 metres grading 5.26% nickel and 0.2% copper, plus 1.77 grams combined gold-platinum-palladium per tonne. Two other holes cut 1.25-3.01 grams gold-platinum-palladium over 0.3-2 metres. These intersections also contained nickel values of 3.3-13.8%
To date, 63 holes totalling 11,000 metres have been drilled at the Dundonald South zone, and nearly all have cut significant nickel.
Dundonald South strikes east and dips steeply to the south. There are five sub-parallel zones in the northern portion of Dundonald South, and three zones in the southern portion. The distance between zone A (cut in hole 29) and zone F (cut in hole 21) is 300 metres.
First Nickel is in negotiations with Falconbridge to buy a 100% interest in the past-producing Lockerby mine, which closed in September 2004 after producing 8 million tonnes grading 1.79% nickel and 1.07% copper. The mine has two 1,300-metre shafts, as well as an internal shaft, which extends 1,200-1,920 metres below surface. First Nickel plans to drill the footwall area of the mine, which has not been tested for copper and platinum group elements, and the down-plunge extensions of two zones. Due diligence is under way.
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