(MENAFN- EIN Presswire) Summary of assay results returned from selected holes completed at the Fortin Sill Zone
Plan map showing the locations of selected drill holes completed at the Fortin Sill Zone in relation to the Fortin Sill discovery outcrop
Drill section showing the locations of selected holes completed at the Fortin Sill Ni-Cu-PGE Zone in relation to historical hole GCF-08-07 and the Fortin Sill Zone discovery outcrop.
Expanding Fortin Sill Deposit NE & SE along Strike, building off 2022 drill step-out intersections, including 1.85% Ni, 1.65% Cu & 3.27 g/t Pt-Pd-Au over 8.43 m
Quebec Nickel Corp. (OTCQB:QNICF)
On the side of the road, with power and rail, Québec Nickel Corp. has, assuming continued exploration success, the ingredients to potentially become one of the lowest cost nickel concentrate producers” — Mining MarketWatch JournalNEW YORK, NY, USA, October 13, 2022 / / -- Québec Nickel Corp. (CSE: QNI) (OTCQB: QNICF) (Frankfurt: 71B) is a Canadian-based mineral exploration company focused on advancing its 100%-owned Ducros Ni-Cu-PGE Property in Québec, located in the prolific Abitibi Greenstone belt. The Abitibi region is world renown for world-class gold-copper deposits, however QNI has what is rapidly developing as one of Canada's most exciting nickel sulphide plays, increasingly described in mining circles as a 'big unicorn' for the fact it is an outlier with grades ~4 - 5 times what is found in the region for nickel, but also spectacular elevated copper, cobalt, platinum, palladium, and gold (PGE stands for Platinum Group Elements).
Québec Nickel Corp. is the subject of a Mining MarketWatch Journal review, full copy of which may be viewed at online.
Excerpt:
Québec Nickel Corp. was formed in 2020 to specifically tackle Ducros, its maiden 20,000 m multi-phase drill program began in Q1-2022. The Fortin Sill Ni-Cu-PGE deposit is rapidly developing, starts at surface and appears amenable to a high-grade open pit scenario. Entering October-2022 the company has drilled ~12,000 m of the planned 20,000 m, it has reported on 29 holes to date, and has core assays pending at the lab to report near-term. Besides its main focus of ongoing continuity drilling at the Fortin Sill deposit, the company is juxtaposing exploration, also looking at targets that are highly prospective for new discovery in other areas of the property (e.g. its Ducros Ultramafic Sill Complex has a drill on site conducting 3,000 m as of mid-September-2022).
QNI currently has a nominal market cap of ~C$16M (~71.9 million shares trading near ~C$0.22). ~80% of the shares are institutionally held, and the company is fully financed to accomplish all key objectives for 2022. The share price of QNI appears poised for upside revaluation as continued news flow occurs, and as the significance of what Québec Nickel Corp. possesses is better appreciated by the market.
The geological team leadership, directors, and board of advisors are an impressive who's-who of nickel expertise with career accomplishments across the spectrum from nickel exploration & discovery, development, and major production. Gary DeSchutter, M.Sc., P.Geo., is Vice-President of Exploration for Québec Nickel Corp., he started his career with Falconbridge and transitioned to Anglo American for 6 years as part of their global nickel generation team. Gary joined Québec Nickel in February-2022 -- in-short, he picked Québec Nickel because he knows nickel and was attracted by the anomalous Nickel-Copper-Platinum Group Element (PGE) occurrences and elephant-size potential at Ducros.
Québec Nickel Corp. appears on a trajectory with serious potential to yield an impressive first-pass Ni-Cu-PGE resource on its Fortin Sill Zone after its 2023 drill program -- one look at the recent drill results at the Fortin Sill Zone of the Ducros NI-Cu-PGE Property and it is apparent that the methodical approach of step-outs and following the continuity drilling is paying off.
This October 12, 2022 the company released an update on its Ducros property in a news release entitled“ Abitibi Québec”.
Synopsis:
- QNI has added a 3rd rig that will target the Fortin Sill (recently incl. 8.43 m at 3.81% NiEq) in order to accelerate the ongoing 20,000 m program.
- The 1st rig is also turning at Fortin Sill and the 2nd one is at Ducros Sill Ultramafic Complex (DUSC) for the 3,000 m program at DUSC with 50% drilling complete.
- All planned summer work programs completed and analysis underway:
•Additional channel sampling from the Fortin Sill outcrop, stellar grades.
•Property wide biogeochem survey – results received for 90% of the samples with a final report expected by year-end.
•Satellite imagery over the entire Ducros project – final progressing of data in progress.
•Air-borne gravity survey over the entire Ducros property – will help better understand geology and structure.
•Drone magnetic survey over Fortin Sill – 3,000 m line km completed. Results being processed and will help refine current & future drill targets.
- The press release includes a summary table of assay results returned from selected holes completed; previously reported assay results are highlighted by a 35.63 metre-long intersection that returned 1.13% Ni + Cu, 238 ppm Co and 1.01 g/t Pt-Pd-Au, and includes higher grade sub-intervals of 1.44 % Ni, 1.49 % Cu, 461 ppm Co and 2.79 g/t Pt-Pd-Au over 11.80 metres and 1.85% Ni, 1.65% Cu (3.50% Ni + Cu), 576 ppm Co and 3.27 g/t Pt-Pd-Au over 8.43 metres in hole QDG-22-29. Of note, a one-metre-long sample from hole QDG-22-29 containing heavy net-texture chalcopyrite and pyrrhotite (35-40% total sulphides) returned 1.98% Ni + 2.77% Cu (4.75% Ni + Cu), 624 ppm Co and 5.78 g/t Pt-Pd-Au. The release also has an image of drill sections, and a plan map showing the locations of selected drill holes completed at the Fortin Sill Zone.
Drilling to date has indicated near-surface, high grade and bulk tonnage potential at the Fortin Sill target with significant upside potential as the Fortin Sill trend is +1 km in strike length. There is also similar potential at the other targets at the Ducros project.
Full copy of the article may be viewed at online.
Content above contains forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).
James O'Rourke
Mining MarketWatch Journal