Jaguar Nickel Inc.
TSX : JNI

Jaguar Nickel Inc.

October 04, 2005 11:53 ET

Jaguar Nickel Expands Its Exploration Program With Its Chatala License-Historical Data Indicates Laterite Occurrences On This Property

TORONTO, ONTARIO--(CCNMatthews - Oct. 4, 2005) - Jaguar Nickel Inc. (TSX:JNI) today announces that the Company's application for the Chatala exploration license has been granted by the Ministry of Energy and Mines of Guatemala.

"The Chatala license is important to our exploration program as it has an area of 43 km2 and forms part of a 28 km long contiguous block of licenses, comprising 5 licenses and 2 applications for license located immediately north of the Sechol Project," explains Mr. Richard Weizenbach, Chief Operating Officer. "The historical data demonstrates a mineralization pattern that is consistent with our detailed knowledge of the Sechol project area."

Available historical mapping and pit information developed by Transmetales Ltd. ("Transmetales") (1968), indicate laterite occurrences in two zones within the Chatala license - the Chatala and Chitcoj laterite.

The Chatala laterite zone was mapped by Transmetales over an estimated 8 km length on an east-west trend. Information from 35 old pits shows intercepts of greater than 1% Ni, over greater than 2 metres, in 13 pits with up to 1.14% Ni over 4 metres in one pit.

The Chitcoj laterite zone was mapped by Transmetales over a 5 km trend and extends into the adjacent Marichaj license area to the west. Information from 37 old pits shows intercepts greater than 1% Ni, over greater than 2 metres, in 7 pits including 1.7% Ni over 7 metres in one pit. The pits did not penetrate the full lateritic profile.

Detailed mapping and pitting is planned by Jaguar for these two areas to determine the economic potential.

Jaguar's current property holdings comprise 14 exploration licenses and 6 applications for license, including one extension, for a total area of approximately 734 km2 spanning a 180 km trend along the prospective ophiolitic belts.



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Exploration Licenses Area Granted km(2)
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Sechol 6.42
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Marichaj 24.50
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Nueva Caledonia I 49.34
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San Lucas 20.00
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Quisis 20.00
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Seamay 4.52
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El Tunico 34.16
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Virginia 80.87
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La Ruidosa 76.00
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Los Tres Juanes 64.31
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Cahabon 6.30
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Chatala 43.00
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San Lucas II 36.00
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Sechol II 13.10
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TOTAL 478.52
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Applications for License Area km(2)
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La Coincidencia 78.20
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Nueva Caledonia II 49.83
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Rio Colorado 69.00
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Matanzas 28.00
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San Lucas I 21.00
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San Lucas II extension 9.00
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TOTAL 255.03
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Maps identifying the northwest regional exploration area which includes the Chatala license, and the Jaguar licenses and applications for license in Guatemala can be viewed on the Company's website (www.jaguarnickel.com).

Exploration work on the Chatala property is supervised by Paul Nagerl, P.G.O., Chief Geologist at Jaguar Nickel Inc., a Qualified Person as defined in National Instrument 43-101.

About Jaguar Nickel Inc.

Jaguar Nickel Inc. (TSX: JNI) is a professionally managed Canadian nickel exploration and mine development company. The Company's current exploration and development program is focused on the nickel laterite deposits of its licensed properties in Guatemala, Central America.

This news release may contain certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from those implied by such forward looking statements.


Contact Information

  • Jaguar Nickel Inc.
    Richard Weizenbach
    Executive Vice-President and Chief Operating Officer
    (416) 363-1124
    (416) 360-0728 (FAX)
    2015 - 120 Adelaide Street West, Toronto, Ontario M5H 1T1
    www.jaguarnickel.com