ONTARIO The best hole drilled at the Dundonald nickel project near Timmins, has assayed 5.26% Ni over 15.2 metres in the North sector for Toronto’s FIRST NICKEL. Hole D04-29 also returned 0.20% Cu over the same length. The hole was drilled about 10 metres east of an earlier hole that returned 11.94% Ni over 1.70 metres.
The Dundonald property is located about 25 km by road from FALCONBRIDGE’s Kidd Creek copper smelter and zinc refinery. First Nickel acquired 100% ownership of the property from Falconbridge, which now holds 18.4% of the issued and outstanding shares of First Nickel.
First Nickel plans an underground exploration program that will begin later this year with a production decision due within 12 months. A PowerPoint presentation about the company is posted at www.FirstNickel.com in the Investors Relations section.