Mining Stock News: Flying Nickel (TSXV: FLYN) Completes Drilling Program at Minago Nickel Project in Thompson Manitoba
Vancouver, British Columbia - June 21, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") announces the completion of its first drilling program at its 100% owned Minago nickel sulphide project in Thompson, Manitoba. The program included 2,834 meters of drilling, consisting of six infill and exploration drillholes. The initial drill results are expected in early July.
A 5,000-meter program was announced on March 7, 2022, but was shortened due to late issuance of work permits. Infill drill holes FN-22-01 and FN-22-02 intercepted wide disseminated nickel mineralization at Minago's Nose deposit. The remaining holes targeted the North Limb deposit, which has the highest near-term resource expansion potential and limited historic drilling.
Flying Nickel acquired Minago from Victory Nickel Inc in February 2021. Subsequently, Flying Nickel announced an open-pit optimized Minago mineral resource estimate ("MRE"), prepared by Mercator Geotechnical Services and AGP Mining Consultants, effective July 2, 2021, which includes a Measured and Indicated mineral resource of 722 million lbs of contained nickel and an Inferred mineral resource of 319 million lbs of contained nickel grading 0.74% nickel based on 86,118 meters of drilling. The project has ready access to hydro power, water and is adjacent to a paved provincial highway. Flying Nickel is completing a Notice of Alteration which is required for the reissuance of the Environmental Act License by the province of Manitoba. No federal permit is required.
Observations and drillhole summaries are provided below:
FN-22-01 is a 567-meter infill drill hole located at the eastern part of Minago's main Nose deposit. The hole ended in mineralization at 567 meters, short of the 830 meters planned depth due to ground conditions. Approximately 483 meters of ultramafic rocks were observed containing varying percentages of disseminated mineralization.
FN-22-02 is a 407-meter infill drill hole located at the western part of the Nose deposit. The FN-22-02 encountered 266 meters of ultramafic rocks containing varying percentages of disseminated mineralization.
Core from FN-22-01 and FN-22-02 will undergo metallurgical tests to support the Company's ongoing feasibility study to be completed by end of 2022.
FN-22-03 is a 530-meter hole drilled near the center of Minago's North Limb deposit to test the deep portion of North Limb beyond the previously drilled maximum depth of approximately 250 meters from surface on section. The hole intercepted 393 meters of ultramafic rocks of varying percentages of disseminated mineralization.
FN-22-04 is a 551-meter exploration hole collared 200 meters north of the North Limb to test a magnetic and vertical electromagnetic anomaly. The hole intercepted 135 meters of intercalated ultramafic and felsic rocks containing varying percentages of disseminated mineralization.
FN-22-05 is a 338-meter hole drilled at the southern end of the North Limb to test the shallow portion of the North Limb that had not been drilled before. FN-22-05 encountered 85 meters of ultramafic rocks of varying percentages of disseminated mineralization, indicating sections of North Limb mineralization occur shallower than previously estimated.
FN-22-06 is a 325-meter exploration hole drilled in between the Nose and the North Limb to test a electromagnetic and magnetic anomaly. The hole ended in magnetite bearing granitoids with no observable ultramafic rocks. A clay layer observed between the Phanerozoic cover rocks and the Archean basement rocks is believed to explain the electromagnetic anomaly.
Plan and cross section drill maps are available at flynickel.com.
The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, CEO. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman is a Qualified Person as defined by the guidelines in NI 43-101.
About Flying Nickel
Flying Nickel Mining Corp. is a premier nickel mining and exploration company. The company is advancing its 100% owned Minago nickel sulphide project in the Thompson nickel belt in Manitoba, Canada.
Further information on the Company can be found at www.flynickel.com.
FLYING NICKEL MINING CORP.
ON BEHALF OF THE BOARD
Chief Executive Officer
For more information about the Company, please contact:
Phone: 1.877.664.2535 / 1.877.6NICKEL
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Flying Nickel's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel's forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
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