Nickel Creek Platinum (TSX: NCP; US-OTC : NCPCF) shares rose on Wednesday, after the company reported high-grade results from the Arch target at its flagship Nickel Shaw project in southwest Yukon.
Hole ASD22-016 cut 3.8 metres grading 2.57% nickel, 1.61% copper and 2.35 grams total precious metals (TPM) per tonne from 169.5 metres depth. The highlighted hole was drilled as part of an 18-hole, 2,975-metre program that ran last July to October and from which data will be used for an upcoming prefeasibility study in the second quarter. The massive sulphide interval was encountered down-dip of semi-massive to massive sulphide mineralization drilled in 2021.
The company also reported significant disseminated and semi-massive sulphide intervals grading 0.29% to 0.67% nickel, 0.08% to 0.43% copper and 0.43 to 1.64 grams TPM over 6.3- to 79-metre intervals in seven holes. Nickel cut-off grades of 1% for the massive sulphide and 0.25% for the disseminated sulphide.
"We have demonstrated the continuity of sulphide mineralization at the Arch Target including its significant nickel, copper, precious metals and sulphur grades. This target occurs at shallow depths and is currently being assessed to determine if a maiden inferred resource can be outlined here," Nickel Creek CEO Stuart Harshaw said in a release, adding that Arch data won’t be included in the prefeasibility study (PFS) for Nickel Shaw expected in July.
“But we are excited by the opportunity for additional higher-grade mineralization at our Nickel Shaw property."