SUDBURY, ON, June 6 /CNW/ - Independent Nickel Corp. (INI: TSX-V) today
announced interim results of its ongoing 2007 exploration activities in Lynn
Lake, Manitoba. The drilling program to date has focused on only two targets,
known as the 'Golf' target and the Upper 'G' target. Drillhole LLN-014, the
first hole targeting Upper 'G' unexpectedly intersected an entirely new zone
of mineralization above its target. Assay results from this new discovery
- 39.2 feet of 0.7% nickel and 0.4% copper occurring from 1,978.0 to
This new discovery has been named the 'Papa' zone, in keeping with the
Company's alphabetic naming system for target zones, and is located between
the 1,000 and 2,000 foot levels of the mine in an area not drilled before.
Assay results are still pending for the lower portion of hole LLN-014,
which tested the Upper 'G' target.
Results from wedged branch hole LLN-003a, designed to test the 'Golf'
target, include numerous sections of nickel sulphide mineralization including
- 21.5 feet of 0.8% nickel, and 0.3% copper intercepted from 3,706.7 to
- 10.0 feet of 0.7% nickel and 0.4% copper intercepted from 3,782.6 to
- 17.1 feet of 0.7% nickel and 0.3% copper intercepted from 3,798.5 to
3,815.6 feet; and
- 11.0 feet of 1.2% nickel and 0.2% copper intercepted from 3,896.0 feet
to 3,907.0 feet.
These intersections occur within a continuous mineralized zone containing
0.4% nickel and 0.2% copper over 354 feet of core length, from 3,707 to 4,061
feet. This zone is located approximately 500 feet from existing mine
Both of these recent drillholes have been tested with downhole pulse
electromagnetic ("EM") geophysical surveys. These surveys detected
conductivity in both holes, which is interpreted to represent extensive nickel
mineralization in proximity to both holes. Two drills on site are currently
following up on these encouraging results.
Independent Corp. owns 100% of the Lynn Lake nickel property. The mine
produced 22.2 million tons of ore at an average grade of 1.0% nickel and 0.5%
copper between 1953 and 1976. As announced in a press release dated May 7,
2007, the Company has re-purchased the 2% NSR Royalty on the property, so that
the current Lynn Lake resources are totally independent of third party
Currently, measured and indicated resources on the property include 16.1
million tons grading 0.7% nickel and 0.4% copper (see the Company's 43-101
compliant resource estimate, as detailed in its press release of September 19,
This document may contain forward-looking statements relating to
Independent Nickel Corp.'s (INI) operations or to the environment in which it
operates. Such statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve risks
and uncertainties that are difficult to predict and may be beyond INI's
control. A number of important factors could cause actual outcomes and results
to differ materially from those expressed in forward-looking statements,
including those set forth in other public filings. In addition, such
statements relate to the date on which they are made. Consequently, undue
reliance should not be placed on such forward-looking statements. INI
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, save and except as may be required by applicable securities laws.
Samples have been analyzed by ALS Chemex in North Vancouver, British
Columbia. Seven elements are analyzed by four acid "near total" digestion and
ICPAES finish. Assays for nickel and copper are completed on selected samples
by four acid "near total" digestion and AAS finish. Select samples are
analyzed by Sodium Peroxide Fusion, acid dissolution and ICPAES analysis.
Mineralized intervals reported are core lengths, true widths of mineralization
will be determined following additional drilling. The Qualified Person
responsible for the technical content of this news release is Richard Murphy,
P. Geo., President and CEO of Independent Nickel Corp.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE
For further information:
For further information: Independent Nickel Corp., Richard Murphy,
President and CEO, Tel: (705) 521-8444, Email: firstname.lastname@example.org; 957
Cambrian Heights Drive, Suite 102, Sudbury Ontario P3C 5M6