Class 1 Nickel announces start of VTEM™ survey over Alexo-Dundonald near Timmins

Class 1 Nickel & Technologies announces that Geotech Ltd has commenced an extensive VTEM™ plus time-domain electromagnetic airborne survey at the Alexo-Dundonald Nickel-Copper-PGE Projects. In addition, P&E Mining Consultants Inc. has completed field work and is now preparing the revised and upgraded NI 43-101 Mineral Resource Estimate.

“We are very encouraged by the amount and quality of historic drill core on site that will allow for the validation of the databases for the Dundonald South and Dundonald North deposits and bring them to NI 43-101 compliancy," said Eugene Puritch, President of P&E Mining Consultants Inc. "Observed mineralization during the verification sampling process indicated the presence of nickel bearing sulphides.”

The Alexo-Dundonald Ni-Cu-PGE Project consists of the Alexo North, Alexo South, Dundonald North, and Dundonald South deposits northeast of Timmins.

The Alexo Deposits sit on the northeast arm of a large interpreted “Z”-shaped komatiite fold, while the Dundonald Deposits sit in the middle and on the southwest arm of the same fold. A past producing operation (historical 2.0% to 4.0% nickel head grade) left historical nickel sulphide Mineral Resources (Ni-Cu-Co-PGE) that remain open at depth and along strike.

As previously announced, Geotech Ltd. is conducting the airborne VTEM and magnetic survey over the existing Alexo-Dundonald historical Mineral Resources and interpreted Z-folded komatiitic peridotite, providing Class 1 Nickel’s technical team data to map conductors of significance in subsurface areas that may be associated with magmatic semi-massive to massive Ni-Cu-Co-PGE sulphides, to an initial depth of approximately 300 metres. Targets from the airborne survey will be followed up using surface AEM and/or drilling, and borehole EM surveys, as appropriate.

Additionally, P&E Mining Consultants Inc., who has been engaged to upgrade the current NI 43-101 Mineral Resources to include the Dundonald North and South deposits, has completed on site work, having successfully completed core collection and representative sampling work as part of the validation of the historical information.

Class 1 expects to deliver to shareholders the updated NI 43-101 Mineral Resource within by early October.

 

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