First Nickel Inc.
TSX : FNI

First Nickel Inc.

April 02, 2007 10:30 ET

First Nickel Discovers "No Seeum" PGE Zone in Footwall on West Graham Property

TORONTO, ONTARIO--(CCNMatthews - April 2, 2007) - First Nickel Inc. (TSX:FNI) is pleased to report the results of 21 diamond drill holes representing 9,731 metres of diamond drilling on the West Graham Property during the 2006 exploration program. The West Graham property under optioned from Landore Resources Canada Inc. and the details of the option agreement were provided in a press release dated August 4, 2005.

First Nickel's exploration program was successful in discovering "no seeum", or low sulphide type platinum group element (PGE) mineralization, hosted in the footwall granites stratigraphically below the Conwest Deposit and associated with Sudbury breccia and less than 5% sulphides. FNI2020, drilled subparallel to the Sudbury Igneous Complex (SIC) contact in the footwall of the Conwest Deposit, intersected several zones of elevated PGE mineralization including 1.35 metres of 1.82 gpt Pt, 1.17 gpt Pd and 0.77gpt Au and 0.57 metres of 2.7 gpt Pt, 1.93 gpt Pd and 0.13 gpt Au. All assay intervals reported are core length and do not represent true widths (defined as being measured at right angles to the direction of extension of the sulphide body).

This low sulphide, PGE zone represents a new mineralization style not previously recognized on the West Graham Property. Limited exploration has been focused on footwall hosted mineralization on the West Graham property and the discovery of this new zone of "no seeum" style PGE mineralization emphasizes the potential of the West Graham Property to host additional footwall zones. Surface mapping has identified Sudbury breccia extending several hundreds of metres into the footwall granites that will require further follow-up exploration.

First Nickel was also successful in extending the sulphide mineralization associated with the historic Conwest Deposit approximately 125 metres to the east of the previously interpreted edge. Several holes intersected significant widths of disseminated nickel-copper mineralization, including hole FNI2028 that intersected 71.50 metres of 0.51% Ni and 0.34% Cu including 4.80 metres of 1.04% Ni and 0.31% Cu, and FNI2016 that intersected 19.05 metres of 0.52% Ni and 0.38% Cu. Refer to attached plan map for drill hole locations. All assay intervals reported are core length and do not represent true widths (defined as being measured at right angles to the direction of extension of the sulphide body).

The reconnaissance drill hole program was designed to test the SIC contact on 50 metres to 150 metres centres to the east of the Conwest Deposit. A total of 22 holes were surveyed using borehole geophysical techniques including UTEM (4 holes), Crone Flux Gate pulse electromagnetic (7 holes) and IFG probe (11 holes). No significant or distinct geophysical anomalies were identified in the borehole surveys. However, Lamontagne Geophysics Ltd. noted that the UTEM system observed a subtle increase in the secondary response in the bottom portion of the surveyed drill holes indicating there is a conductive zone present beyond the end of these holes.



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Hole From To Length Ni Cu Co Au Pt Pd Ag
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metres % % % ppm ppm ppm gpt
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FNI2010 450.00 451.10 1.10 1.79 0.20 0.040 0.05 0.46 0.08 1.00
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FNI2011 425.95 426.45 0.50 1.59 0.07 0.030 0.01 0.34 0.09 0.70
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FNI2012 297.90 309.10 11.20 0.43 0.36 0.016 0.04 0.08 0.03 1.78
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and 374.20 374.30 0.10 0.12 2.20 0.001 1.63 0.01 0.03 13.30
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FNI2013 448.10 453.80 5.70 0.45 0.63 0.015 0.07 0.40 0.11 2.60
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and 460.60 465.20 4.60 0.93 0.61 0.027 0.14 0.18 0.09 2.35
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incl 460.60 461.30 0.70 1.98 0.41 0.060 0.15 0.06 0.18 1.60
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FNI2015 378.30 379.60 1.30 1.39 0.65 0.040 0.09 0.17 0.37 3.40
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FNI2016 430.80 449.85 19.05 0.52 0.48 0.019 0.05 0.09 0.03 2.23
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Incl. 447.25 447.60 0.35 3.77 0.36 0.090 0.01 0.36 0.04 2.70
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FNI2018 83.00 92.00 9.00 0.29 0.58 0.004 0.05 0.12 0.06 4.42
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87.50 92.00 4.50 0.26 0.75 0.001 0.07 0.16 0.06 5.53
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99.50 101.00 1.50 0.45 1.08 0.010 0.10 0.13 0.09 7.90
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FNI2020 663.60 664.95 1.35 0.18 0.14 0.001 0.77 1.82 1.17 3.31
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673.70 674.00 0.30 0.08 0.04 0.001 0.24 1.05 0.56 0.70
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675.43 676.00 0.57 0.21 0.07 0.001 0.13 2.70 1.93 2.10
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683.95 684.90 0.95 0.06 0.00 0.001 0.04 1.00 0.69 1.00
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733.30 736.20 2.90 0.38 0.45 0.005 0.26 0.64 0.37 4.94
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FNI2026 359.90 371.00 11.10 0.39 0.37 0.016 0.02 0.04 0.02 1.77
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FNI2028 163.00 234.50 71.50 0.51 0.34 0.018 0.02 0.06 0.02 1.70
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Incl. 189.00 203.30 14.30 0.83 0.44 0.029 0.02 0.07 0.03 1.85
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Incl. 189.00 189.70 0.70 2.29 0.93 0.080 0.02 0.06 0.06 4.00
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Incl. 198.50 203.30 4.80 1.04 0.31 0.033 0.02 0.07 0.03 1.29
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FNI2029 157.70 169.70 12.00 0.51 0.31 0.023 0.02 0.06 0.02 1.53
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West Graham Property: 2006 summary of significant drill intercepts.


The 2006 exploration program has confirmed the presence of a large mineralized system associated with the basal portion of the SIC. The Conwest Deposit has been interpreted as the up-plunge extension of the Lockerby East system. The West Graham Property remains of considerable interest to First Nickel given the high nickel tenors associated with the sulphide mineralization (on average greater than 6% Ni in 100% sulphide), and the footwall potential of the granites beneath the Conwest Deposit and the Lockerby East Zone.

A $900,000 exploration program has been proposed for the West Graham Property in 2007. Approximately $600,000 of exploration expenditures are required before November 21, 2007 to maintain the option with Landore Resources Canada Inc. in good standing. The exploration program will consist primarily of diamond drilling with associated borehole geophysics and may include a component of surface stripping and trenching.

The diamond drilling program is being carried out under the supervision of First Nickel's Sudbury Exploration Manager, Phil Vicker, P.Geo., a "qualified person" as defined by National Instrument 43-101. The information in this release was prepared under the direction of Paul Davis, P.Geo., Vice President of Exploration for First Nickel Inc., a "qualified person" as defined by National Instrument 43-101. First Nickel Inc. follows a rigorous QA/QC protocol on all of its exploration projects. Drill core of interest (NQ size) is sawn in half, with one half retained for future reference and one half sent to a commercial laboratory, SGS Laboratories in Garson for preparation and specific gravity measurements and shipped internally by SGS to Toronto for assay. A rigorous quality assurance/quality control program is employed which includes the insertion of standards and blanks for each batch of samples.

First Nickel is a Canadian mining and exploration company. Its current activities are primarily focused on the Sudbury Basin in northern Ontario, the location of the company's producing property (the Lockerby Mine) and four of its exploration properties. First Nickel also has two exploration properties in the Timmins region of northern Ontario. First Nickel's shares are traded on the TSX under the symbol FNI.

This news release may contain forward-looking statements, which are subject to certain risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such forward-looking statements are made as at the date of this news release, and the company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances.

To view a surface plan and geology map of the West Graham Property, click here: http://www.ccnmatthews.com/docs/wgp.jpg

Contact Information

  • First Nickel Inc.
    William Anderson
    President & CEO
    Toll Free: 1-888-362-7050 or (416) 362-7050
    (416) 362-9050 (FAX)
    Email: wanderson@firstnickel.com