NORTHERN ONTARIO – FIRST NICKEL of Toronto says that FALCONBRIDGE, the operator of its Morgan-Lumsden property, has drilled a new nickel sulphide occurrence in a greenfield area of the property. First Nickel is acquiring a 50% interest in the property located on the North Range of the Sudbury Basin, about 15 km from Falconbridge’s Strathcona mill.
Although the three holes drilled recently were widely spaced, and the intersections narrow, First Nickel is hopeful, saying that Sudbury-grade nickel mineralization from holes intended primarily as geophysical platforms points toward excellent potential at Morgan-Lumsden.
One hole, M-055, intersected two zones of semi-massive to massive sulphide mineralization at approximately 800 m vertical depth including 0.35 metres grading 1.72% Ni and 0.03% Cu and 0.25 metres grading 2.14% Ni and 0.10% Cu. The intersections are hosted in rock units associated with the basal contact of the Sudbury Igneous Complex.
The sulphide zones in hole M-055 are unconstrained both up- and down-plunge. The very low copper to nickel ratio enhances potential for footwall mineralization associated with the system. A conductive trend has been identified that extends away from M-055 in a south-southeasterly direction. A follow-up diamond drill hole is currently in progress to test this trend and should be completed during December 2005.
Read the latest news on this discovery at www.FirstNickel.com.