ONTARIO - Toronto-based FIRST NICKEL has drilled into what may be a significant new discovery on its Morgan-Lumsden property, 12 km east of Xstrata Nickels Strathcona mill. This is a greenfield exploration project on the North Range of the Sudbury Basin. First Nickel has an option from Xstrata to earn a 50% interest.
Hole M-059 was drilled to a depth of 1,400 m to test two off-hole geophysical conductors identified by a borehole UTEM 3 geophysical survey late in 2006. M-059 intersected a broad zone of disseminated, blebby and veined sulphide mineralization that assayed 0.71% Ni over 38.80 m, including two separate zones of 5.60 m at 1.03% Ni and 2.85 m at 1.45% Ni.
The drill hole intersected a thickening sequence of sublayer norite and mineralized late granite breccia that continues to support the interpretation of a new embayment feature developing along the basal contact of the Sudbury Igneous Complex into the footwall lithologies. When combined with the broad intercept of nickel-copper sulphide mineralization and the strong off-hole anomalies, the exploration results all indicate the potential of a new, significant, contact-style mineralized system to be located on the Morgan-Lumsden property.
All assay results to date on the Morgan-Lumsden property are summarized in a table that may be read at www.FirstNickel.com.
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