Vancouver, British Columbia--(Newsfile Corp. - July 6, 2021) - Quebec Nickel Corp. (CSE: QNI) ("Quebec Nickel Corp." or the "Company") is pleased to announce that it has received final approval to list the common shares of the Company on the Canadian Securities Exchange (the "CSE").
Listing Date:
Trading of the Company's common shares on the CSE has commenced at the opening of the market on July 2, 2021. The common shares of the Company is trading under the symbol "QNI."
Company Highlights:
- Low share float of 35.9 million shares outstanding and 53.2 million shares fully diluted;
- 100% interest in the Ducros Group Property, consisting of 239 mineral claims covering a total area of 12,818.63 hectares;
- Located approximately 80 kilometres northeast of the city of Val-d'Or, Quebec, within the heart of the Abitibi Greenstone Belt;
- Magmatic Nickel-Copper-PGE sulphide mineralization hosted within known ultramafic (dunite) intrusive units associated with historical mineralized occurrences defined by surface sampling and drilling;
- Potential for both bulk tonnage and high-grade nickel sulphide zones with significant copper and platinum + palladium mineralization, based on the existing historical exploration work conducted only over limited sections of the extensive ultramafic (dunite) intrusions indicated on the property;
- 2020 exploration program consists of a 14.7 line-km Ground electromagnetic survey (ARMIT-TDEM) over the Fortin Showing. The survey identified a total of fifteen (15) surface EM anomalies grouped in two (2) trends and five (5) individual targets; and
A National Instrument 43-101 compliant technical report on the Ducros Group Property has been filed and is available on SEDAR. The report was prepared by Alain-Jean Beauregard, P. Geo. (OGQ # 227) and Daniel Gaudreault, P. Eng. (OIQ #39834), of Geologica Groupe-Conseil Inc., based in Val-d'Or, Quebec. The technical report also includes a description of the project history, geology, mineralization, drilling, sampling procedures and laboratory Quality Assurance/Quality Control procedures, and recommendations. The highlights, conclusion, recommendations, and proposed 2021 work program from the authors of the NI-43-101 report are summarized below for the readers information.
David Patterson, CEO of Quebec Nickel, comments, "July 2, 2021, marks a significant milestone for the Company as we commence trading on the CSE. The Quebec Nickel team has done an excellent job creating this brand-new resource exploration company. We look forward to building shareholder value by exploring our Ducros Group Property in Quebec, Canada. Lastly, I would like to thank our shareholders for their continuing support as we strive to become a leader in exploration and development."
The Company's World Class Canadian Nickel Property
The Ducros claims consist of 239 mining claims covering 12,818.63 hectares and are 100% owned by Quebec Nickel Corp. The Property is located in the southern area of the Lebel-Sur-Quévillon Mining Camp.
NI 43-101 Report Highlights:
- The Ducros Group Property is located at the northwestern end of a northwest-trending deformation corridor in the eastern part of the Abitibi Greenstone Belt. The Chicobi deformation corridor is underlain by metamorphosed felsic to mafic volcanic flows and gabbroic intrusions overlain by metasedimentary rocks with greywacke, argillite and siltstone protoliths. These rocks have been locally intruded by ultramafic rocks (peridotite, dunite, pyroxenite and gabbro);
Figure 1
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- Only limited exploration work has been completed over the current property holdings with the objective of exploring potential Nickel-Copper-PGE mineralization over an extensive ultramafic (dunite) intrusive complex. Presently two known Nickel-Copper-PGE magmatic sulphide showings exist on the current property and have only seen limited surface sampling and drilling. However, based on the extensive mapped ultramafic (dunite) intrusions mapped, considerable potential exists for delineating new sulphide occurrences or extensions of the known historical exploration at depth and along strike.
- Ni-Cu-PGE Showings
- The Fortin Showing is hosted in an ultramafic sill-like intrusion, recently interpreted as dunite. The dunite host rock is exposed at a surface over 24 by 58 metres. A series of well-mineralized gossans, located along the eastern flank of the outcrop, host abundant pyrrhotite and chalcopyrite. Five (5) grab samples were collected in the Autumn of 2004 from the area of the Pyroxenite Showing. The best results were from Sample 116101, which yielded 0.49% Ni, 1.46 % Cu, 0.86 gpt Pt, and 1.79 gpt Pd, 0.67 gpt Au. The southern part of the exposed pyroxenite body was channel sampled in August 2007. The 5.08 m channel yielded 0.42% Ni, 1.30% Cu, 0.75 gpt Pt, and 0.83 gpt Pd, 0.55 gpt Au.
A seven (7) hole, 639 m diamond-drilling program, designed to follow up on the surface sampling results and test IP anomalies, was completed in 2008. Drill hole GCF-08-07, which undercut the pyroxenite showing, yielded the significant results of 0.35 % Ni, 0.41% Cu 0.23 g/t Pt, and 0.25 g/t Pd, 0.17 g/t Au over 23.20 m (from 2.0 m to 25.20 m down-hole).
Data verification re-sampling by Geologica shows an excellent correlation with the assay results obtained from 2004 and 2008 surface and drill core samples.
Figure 2
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Figure 3
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Figure 4
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- Ducros Sill: located in the central part of the Property, which intrudes mafic metavolcanic rocks poor in sulphide and carries anomalous nickel values. The Ducros Sill is estimated to be 3 kilometres long and up to 600 metres wide, and hosts historically reported Ni values in drill hole intersections. For example, in 1987, Abitibi Resources Ltd. reported the following values from drill holes: DU 87-05: 193m of 0.177% Ni, DU 87-06: 67m of 0.17% Ni and DU 87-07: 134m of 0.15%Ni (GM47268).
- Based on the significant results obtained in the 2004 to 2007 exploration programs, the recognition of ultramafic (dunite) nature of the Fortin Sill and Ducros Sill, the known Ni-Cu-PGE showings, the untested induced polarization (IP) anomalies, the recent electromagnetic survey (ARMIT-TDEM) results, as well as the potential for additional mineralization along strike from these zones and other untested ultramafic intrusions, further work is recommended on the Property.
Proposed 2021 Work Program
Based on the conclusions and recommendations from the NI43-101 report, the authors of the report have recommended a phased and systematic exploration program was designed and implemented to delineate areas with known or high probability of magmatic nickel-copper-PGE mineralization and to discover new areas of similar mineralization.
The first phase, $375,000, is recommended to include a property-wide heliborne magnetic-electromagnetic survey, property compilation and 3D geological model, property-scale mapping, prospecting and sampling, mechanical outcrop stripping, mapping and sampling programs, and to prepare for first drill program.
Qualified Person
The technical content of this release has been approved for disclosure by Alain-Jean Beauregard, P. Geo. (OGQ # 227) and Daniel Gaudreault, P. Eng. (OIQ #39834), of Geologica Groupe-Conseil Inc., a Qualified Person as defined by NI 43-101. Alain-Jean Beauregard, P. Geo. (OGQ # 227) and Daniel Gaudreault, is independent of the Company, and are not employees of the Company or hold securities of the Company.
About Quebec Nickel Corp.
Quebec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing nickel projects in Quebec, Canada. The Company has 100% interest in our Ducros Group Property, consisting of 239 contiguous mining claims covering 12,818.63 hectares within the Abitibi region located in Quebec, Canada. Additional information on Quebec Nickel Corp. is available at www.quebecnickel.com
On Behalf of the Board of Directors, QUEBEC NICKEL CORP.
"David Patterson, CEO"
For further information, please contact: Elyssia Patterson, CFO
Tel: +1 (778) 683 4324
Email: info@quebecnickel.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for this release's adequacy or accuracy.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Quebec Nickel's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although Quebec Nickel believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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