TORONTO, Jan. 31, 2012 /CNW/ - Pure Nickel Inc. (TSX: NIC) (the
"Company") is pleased to announce that its option partner, Rockcliff
Resources Inc. (TSXV: RCP), has commenced drilling on the Tower VMS
property located in Central Manitoba. A minimum of 5,000m of drilling
will test the T-3 anomaly, an 800m long priority one VMS target, and
the Tower Copper Deposit, a continuous +600m long VMS zone associated
with high grade copper and gold, zinc and silver.
Drilling has begun at the T-3 anomaly where Rockcliff's recently
completed DPEM geophysical survey identified the priority one target,
800m west and one km north of the Tower Deposit. It also identified
areas within the anomaly with higher conductance. The higher
conductance areas are interpreted to be associated with thicker areas
of massive sulphides. Drilling has targeted these areas within the
The second area to be tested is the Tower Copper Deposit where high
grade copper rich mineralization has been outlined across a strike
length of +600m and to a vertical depth of 300m. The deposit remains
open in all directions. Rockcliff's previous drilling in 2010-2011 on
the deposit defined a continuous VMS zone rich in copper, gold, zinc
and silver. Drilling intersected high grade copper mineralization
including 8.2m grading 7.6% copper, 2.0g/t gold, 1.7% zinc and 35.4g/t
silver (hole 8) and 4.9m grading 6.1% copper, 1.6g/t gold, 2.0% zinc
and 35.9g/t silver (hole 21) as reported in Pure Nickel Inc.'s Press
Releases dated March 1 and May 17, 2011. Drilling will focus along
strike and at depth of the known mineralization. To view the new Tower
Property Presentation and several DataMine maps on the Tower Deposit
and the T-3 anomaly please refer to the Rockcliff Resources website at www.rockcliffresources.com.
To earn a 70% interest in the Tower property, Rockcliff must pay
$150,000 in incremental payments to Pure Nickel Inc. over four years
and will be required to 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 information in this press
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. With approximately $3.0 million cash on hand and
another $2.5 million to be received within 12 months, Pure Nickel is in
a strong position to advance its property portfolio.
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
The TSX Exchange does not accept responsibility for the adequacy or
accuracy of this release.
SOURCE Pure Nickel Inc.
For further information:
The Howard Group Investor Relations
T. (888) 221-0915
CHF Investor Relations
T. (416) 868-1079
Pure Nickel Inc.
President and CEO
T. (416) 644-0066