TORONTO, June 2, 2011 /CNW/ - Pure Nickel Inc. (TSX: NIC) (OTCBB: PNCKF)
today reported that its option partner in central Manitoba on the Tower
Property, Rockcliff Resources Inc. (TSXV: RCR), recently completed a
surface DPEM geophysical survey over the high grade Tower Copper
Deposit. The survey has identified potential extensions of the deposit
and a new "priority one" massive sulphide anomaly adjacent to it. The
Tower Deposit is a high grade copper deposit within a newly defined
twelve km long VMS corridor located within the property. Rockcliff's
next drill program at Tower will target the deposit and its extensions
and the adjacent massive sulphide anomaly.
The DPEM survey outlined the Tower Deposit as having a north-south
strike length of approximately 700m, a steep easterly dip and a steep
northerly plunge to significant depths of at least 700m vertical.
Rockcliff's recently completed drill program tested the deposit to a
vertical depth of 300m. Potential extensions north and south of the
deposit were also identified in the survey.
The DPEM survey also discovered the T-3 massive sulphide anomaly along
the flanks of a magnetic high and located approximately 800m west of
the Tower Deposit. The T-3 massive sulphide anomaly mirrors the Tower
Deposit in size, conductance and is north-south striking and east
dipping. The T-3 anomaly has never been drill tested and has
significant potential to host VMS mineralization similar to that of the
To earn a 70% interest in the property, Rockcliff must pay $150,000 in
incremental payments to Pure Nickel Inc. over four years and will be
required to incur aggregate exploration expenditures totalling
$4,000,000 over four years; $2,000,000 over two years to earn a 50%
working interest and a further $2,000,000 to earn a further 20% working
interest. For additional information please refer to the February 21,
2008 news release.
Ken Lapierre P.Geo., President and CEO of Rockcliff Resources Inc. is a
Qualified Person in accordance with Canadian regulatory requirements as
set out in NI 43-101, and is responsible for the information in this
About Pure Nickel Inc.
Pure Nickel is a mineral exploration company with a diverse collection
of mineral exploration projects in North America.
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
The TSX Exchange does not accept responsibility for the adequacy or
accuracy of this release.
SOURCE Pure Nickel Inc.
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