Pure Nickel Commences Drilling on its Salt Chuck Alaska Property
TORONTO, Aug. 20, 2012 /CNW/ - Pure Nickel Inc. (TSX: NIC) (the "Company") is pleased to report it has commenced drilling on its 100% owned Salt Chuck, Alaska property. Approximately 2,000 metres of drilling is planned in 5 to 8 drill holes with the objective of determining the source of geochemical and geophysical anomalies previously identified on the property. The program is expected to run until the middle of September, 2012.
The Salt Chuck property consists of 146 contiguous federal lode mining claims located on Prince of Wales Island on the Alaskan Panhandle. The island is accessed by ferry service, and direct access to the property is by well-maintained U.S. Forest Service roads and by water.
The Salt Chuck mine was the largest producer of palladium in the United States while it was in production from 1916 to 1941. It produced approximately 300,000 metric tonnes of ore, reported by U.S. government summaries (1948) to be 0.95 % copper, 1.96 g/t palladium, 1.12 g/t gold and 5.29 g/t silver. Jon Findlay, Ph.D. P.Geo. is the designated Qualified Person for this project.
About Pure Nickel Inc.
Pure Nickel is a mineral exploration company with a diverse collection of nickel, copper and platinum group element exploration projects in North America. The Company is currently active at its flagship MAN property, which is fully funded under an option agreement with Itochu Corporation of Tokyo, Japan. In addition, the Company is actively pursuing other, non-nickel properties in North America and overseas.
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Pure Nickel Inc.For further information:
CHF Investor Relations
T. (416) 868-1079 x 231
The Howard Group Investor Relations
T. (888) 221-0915
Pure Nickel Inc.
President and CEO
T. (416) 644-0066