Class 1 Nickel and Technologies Limited is pleased to announce quantitative modelling results for the preliminary VTEM™ anomalies on its Alexo-Dundonald Nickel Sulphide Project (the “Project” or Property”), 45 km northeast of Timmins, Ontario (Canada). The VTEM™ survey was flown over the entire 20 square-km land package (1,012 line-km) to detect electromagnetic and magnetic signatures that could aid identification of new deposits and extensions of known deposits. The four known nickel sulphide deposits on the property (Alexo North, Alexo South, Dundonald North and Dundonald South) were all detected in the VTEM™ survey.
Interpretation and Ranking
VTEM™ conductor anomalies A to O (collectively, the “Targets”) were identified (Figure 1) based on conductance and the extent of historical drill testing. These Targets were also reviewed for possible cultural interference in Google Earth, by using the VTEM™ powerline monitor data channel, and field checking. The priority Targets were then integrated with all other data, including preliminary Magnetic TMI, db/dt tau, prior AEM/Mag surveys and anomalies, detailed property geology, known deposits and occurrences, and all known drilling from company/property databases and the Ontario ODHD drill hole database. Following data integration and target review, the Targets were tabulated and ranked based on five criteria:
Priority 1 Target Highlights
It is important to note that bedrock conductors can also be caused by graphite, barren sulphides and in this geological environment, by thick units of slightly conductive serpentinized ultramafics
Benjamin Cooper, President & CEO: “Although these interpretations are preliminary, the first-ever modern airborne geophysical survey of Alexo-Dundonald has definitely advanced the case for a much larger mineralized system here at Alexo-Dundonald than was previously understood by the Company.“
Class 1 Nickel now looks forward to the delivery of additional detailed interpretation of the final VTEM™ data set to advance two main objectives.
1) | Detailed planning and commissioning of a significant extension drilling campaign to increase the size and scope of the known resources; and | |
2) | Design and planning of new exploration drilling campaign over the areas of mineralisation outside the known resources (i.e. the Targets that have been identified by the VTEM™ survey and associated geophysical modelling). |
Table 1. Summary of Priority VTEM™ Conductor Plate Models
Anomaly | Depth to Top (m) | Dip (°) | Dip Direction (°) | Length1 (m) | Depth Extent (m) | Conductivity*Thickness | Rank | |||||
A | -21 | 80 | 358 | 300 | 200 | 36 | 1 | |||||
H | -98 | 0.4 | 140 | 400 | 50 | 200 | 1 | |||||
I-1 | -80 | 20 | 146 | 800 | 300 | 300 | 1 | |||||
I-2 | -87 | 20 | 328 | 800 | 300 | 300 | 1 | |||||
I-3 | -37 | 75 | 326 | 600 | 400 | 20 | 2 | |||||
J | -16 | 85 | 146 | 300 | 200 | 250 | 1 | |||||
1Lengths are not well constrained |
Next Steps
Versatile Time Domain Electromagnetic (VTEM™) System
Geotech’s VTEM™ surveys improve on previous generations of airborne geophysics completed over the current Project area by providing the following:
Qualified Person
The geophysical technical information in this news release has been reviewed and approved by Mr. Alan King (P.Geo.), geophysicist and technical advisor to the Company, who is a Qualified Person under the definitions established by National Instrument 43-101. All other technical information in this news release has been reviewed and approved by Dr. William Stone (P.Geo.), independent geological consultant to the Company, who is a Qualified Person under the definitions established by National Instrument 43-101.
About Class 1 Nickel and Technologies Limited:
Class 1 Nickel and Technologies Limited is a Mineral Resource Company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite-hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near Timmins, Ontario, as well as developing and exercising its option over the Somanike komatiite hosted nickel copper project in Quebec, which includes the well-known Marbridge Nickel Mine.
For more information, please contact:
Benjamin Cooper, President
T: 416.454.0166
E: bcooper@class1nickel.com