(TSX: NIC) (OTC BB: PNCKF)
TORONTO, May 6 /CNW/ - Pure Nickel Inc. (TSX: NIC, OTCBB: PNCKF) is
pleased to release details of its exploration plans for the MAN, Alaska
Pure Nickel and its project partner, ITOCHU Corporation of Tokyo met in
Vancouver on April 20 and 21 and finalized a US$ 4.4 million exploration
budget for the MAN project in Alaska. An additional out of plan expenditure of
approximately $500,000 has also been agreed upon for a new airborne survey.
Camp mobilization and preparation will begin in mid May.
The majority of the budget will be allocated to and in support of a 5700
metre drill program. Initial drill targets have been selected on Alpha complex
with further targets identified elsewhere on the project pending initial
drilling results. At time of writing, hole depths are anticipated to range
from 200 to 1000 metres and drilling is anticipated to commence the first week
An intense amount of work has gone into the selection of this year's
targets. Significant effort has been expended on soil chemistry, geophysical
data and geological structure analysis. New perspectives on key drill targets
have resulted from this unparalleled level of preparation. To further aid the
drilling process, Pure Nickel has contracted with Geotech Ltd. to complete an
airborne ZTEM survey over much of the MAN mineral claims. This geophysical
survey will cover approximately 2722 line kms and will commence the last week
The ZTEM or Z-Axis Tipper Electromagnetic system is an innovative
airborne EM system which uses the natural or passive fields of the Earth as
the source of transmitted energy. Key features of the technology include:
- Superior Exploration Depth - Over 1500 metres in the Athabasca Basin.
- Low Frequency for penetration through conductive cover.
- High Spatial Resolution - 8 to 10 metres.
- Excellent resistivity discrimination and detection of weak anomalies
due to the nature of the natural EM fields.
- Measures the in-phase component - critical for the exploration of
nickel sulphides. "Super" conductors are no longer undetectable.
New technological tools will be deployed to the MAN Alaska property as
part of this year's program. Pure Nickel will utilize a Niton XRF Analyzer in
field operations. This sophisticated tool will enable real time analysis of
metal contents in rock and in drill core, further aiding on the spot drill
hole decisions and refined drill targeting.
Other portions of the exploration program will include a walk magnetic
survey, a ground electromagnetic (EM) survey along with extensive prospecting
and mapping programs.
The program will run into the latter portion of September, weather
Larry Hulbert, P.Geol. is Pure Nickel's Chief Consulting Geologist and is
the designated Qualified Person (Q.P.) for the MAN Project. Phillip Mudry,
P.Geol. is the Chief Exploration Consultant for Pure Nickel Inc. and is
supervising drill hole planning, implementation and quality control/quality
assurance programs at the MAN project for 2009.
About Pure Nickel Inc.:
Pure Nickel is a mineral exploration company with a diverse collection of
advanced multiple nickel sulphide and PGE projects in Canada and Alaska. The
Company's 2009 exploration program is fully funded.
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, and 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.
TSX Trading Symbol: NIC (TSX), PNCKF (OTC BB)
Total shares outstanding: 67.766 million
Fully diluted: 75.526 million
52-week trading range: $0.025 - $0.34
For further information:
For further information: The Howard Group, Jeff Walker, Toll Free:
1-888-221-0915, Email: email@example.com, www.howardgroupinc.com; Pure
Nickel Inc., David McPherson, President & CEO, T. (416) 644-0066, Email: