TORONTO, June 7, 2011 /CNW/ - Pure Nickel Inc. (TSX:NIC) (OTCBB: PNCKF) is pleased to provide an update on its exploration activities for the
upcoming summer season.
Drilling has commenced at the MAN Alaska project
Permitting process for Salt Chuck Alaska property in early stages
Rockcliff Resources completes first phase of drilling
MAN Alaska Property
During April Pure Nickel announced that its partner on the MAN property,
ITOCHU Corporation, had confirmed its continued participation in the
2011 program. Since that time the exploration program and budget have
been finalized, all permits are in place, and activity on the site has
commenced, the drill started turning on June 5th. The Company is pleased to report that this year's service providers
include Cabo Drilling Corp. and Last Frontier Air Ventures Ltd. A one
drill program is underway to explore the Alpha Complex focusing on the
Platinum Group Element (PGE) horizons that were discovered during the
2010 season. Several targets on the Rainy Complex, in the Northern
region of the property have also been identified. The Rainy targets are
based on strong geophysical anomalies and geochemistry analysis (rock,
stream and sediment analysis). The 2011 budget is approximately US$4.8
million. Larry Hulbert, D.Sc., P.Geo is the designated Qualified
Person for this project.
Salt Chuck, Alaska Property
The Salt Chuck property is located on Prince of Wales Island in the
Alaskan Panhandle. The property consists of 146 contiguous federal
lode mining claims (10.85 km2). The Salt Chuck mine produced approximately 300,000 metric tonnes of
ore, reported by US government summaries (1948) to be 0.95 % Copper,
1.96 g/t Palladium, 1.12 g/t Gold and 5.29 g/t Silver. The mine was the
largest producer of palladium in the USA during its era of production.
The permitting process for the property has been initiated and plans for
a fall or winter exploration program are being readied. The temperate
climate on Prince of Wales Island is conducive for year round drilling.
Larry Hulbert, D.Sc., P.Geo is the designated Qualified Person for this
Tower, Manitoba Property
Results from a 24 hole, 7,500 metre drill program by Pure Nickel's
option partner Rockcliff Resources have been released. Results to date
have been excellent and have consistently returned high grade copper
values. Future drilling, subject to Rockcliff Resources scheduling,
will target the mineralization along strike and to a vertical depth of
600 metres. Ken Lapierre, P.Geo., and Mark Smethurst, of Rockcliff
Resources Inc., are the designated Qualified Persons for this project.
The HPM/Forgues property located in Quebec is jointly owned by
Manicouagan Minerals and Pure Nickel. Due to the low potential for
discovery the twenty five claims that comprise the Forgues portion of
the property will not be renewed. The claims that make up the HPM
portion of the property will remain in the joint venture partnership.
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.
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