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TSX:NIC

William Lake Project

 
William Lake Property Map

The Property:

  • The William Lake Property consists of 55 claims totaling 10,566 hectares. There are 35 claims adjacent to the William Lake property which make up the company's Tower Property
  • Excellent infrastructure
  • Property covers the Thompson Nickel Belt extension under the Paleozoic cover
  • The Thompson Nickel Belt hosts a number of massive to disseminated nickel sulphide deposits, most notably Inco Limited's ("Inco") Thompson (120Mt @ 2.5% Ni), Birchtree (29Mt @ 2.0% Ni) and Pipe (22Mt @ 1.0% Ni) mines.
  • Between 1989 and 2002 Falconbridge (now Xstrata ) conducted extensive exploration including the completion of 260 widely spaced drill holes totaling 136,4542 metres.
  • Pure Nickel commissioned a NI 43-101 to summarize previous work on the property
  • Pure Nickel purchased the properties as part of the Xstrata Nickel Land Property Purchase. Xstrata retains certain rights with respect to the mining claims including (i) a 2% NSR on each property (Pure Nickel has the right to reacquire 1% thereof for C$1,000,000); (ii) off-take and marketing rights for all concentrate or product produced from the properties; and (iii) a onetime back-in right to 50% for any mining project with an economic threshold of 15,000,000 tonnes of resources unless such right has been previously exercised in respect of another property that was part of the Xstrata - Pure Nickel transaction


2007 VTEM Survey

 

William Lake Claim Map

Exploration

  • 2007/2008 exploration project included diamond drilling and an 1159 km VTEM airborne geological survey
  • A total of 7525 meters in 15 holes were completed in the drill portion of the program.
  • Significant new mineralized zone discovered - it is the first find of ore-grade and near ore grade Ni-enriched intersections of sulphidic iron formation in the southern extension of the Thompson Nickel Belt.
  • This discovery has the potential to be sizeable as our VTEM survey indicates that there are over 700 meters of strike length of this anomaly untested to the north of drill hole 360b.

Summary of Drill results

  • Hole 350 returned 5.15m of 0.84% Ni, including 1.3 m of 2.11%Ni
  • Hole 351 returned 0.5 m of 1.11% Ni
  • Hole 354 returned 17.16 m of 0.51% Ni, 5.65m of 1.02% Ni
  • Hole 355 returned 25.37 m of 0.44% Ni, 2.74 m of 1.68%. 1 m of 3.43% Ni
  • Hole 357 returned 9.1 m of 0.89% Ni, including a 3 m section of 1.0% Ni
  • Hole 360b returned 12.15 m of 0.91% Ni, including 7.38 m of 1.12% Ni including 3 m of 1.45% Ni
  • Hole 359 returned 171 m of 0.45% Ni, including 4.96 m of 0.72% Ni


Drill

 

Drill Hole From
(meters)
To
(meters)
Core Length
(meters)
Core Length
(feet)
Nickel
%
WL08-PNI-350 543.95 546.37 2.42 7.94 0.55
and 550.37 552.94 2.57 8.43 0.64
and 600.70 605.85 5.15 16.90 0.84
Including 604.55 605.85 1.3 4.27 2.11
and 611.85 615.35 3.5 11.48 0.50
WL08-PNI-351 347.34 347.84 0.5 1.64 1.11
WL08-PNI-352 No significant values
WL08-PNI-353 Drill hole did not reach target
WL08-PNI-354 459.29 471.29 12 39.37 0.32
and 542.71 561.67 18.86 61.88 0.38
Including 542.71 551.97 9.28 30.45 0.47
and 569.82 583.82 14 45.93 0.50
Including 569.82 573.82 4 13.12 0.79
and 592.60 596.19 3.59 11.78 0.65
and 605.04 608.35 3.31 10.86 0.66
and 619.06 636.22 17.16 56.30 0.51
Including 631.06 636.22 5.16 16.93 0.70
and 651.36 662.42 11.06 36.29 0.57
and 659.36 662.42 3.06 10.04 0.93
and 705.85 713.50 7.65 25.10 0.89
Including 707.85 713.50 5.65 18.54 1.02
WL08-PNI-355 387.00 391.00 4 13.12 0.85
and 413.00 417.00 4 13.12 0.63
and 439.65 443.00 3.35 10.99 0.62
and 441.00 466.37 25.37 83.23 0.44
Including 457.00 459.00 2 6.56 1.00
and 490.00 495.64 5.64 18.50 0.74
and 594.86 597.60 2.74 8.99 1.68
Including 594.86 595.86 1 3.28 3.43
and 599.31 599.81 0.5 1.64 1.18
WL08-PNI-357 391.48 400.58 9.1 29.86 0.89
Including 395.58 398.58 3 9.84 1.00
and 477.75 481.75 4 13.12 0.53
WL08-PNI-358 201.93 380.95 179.02 587.33 0.21
WL08-PNI-359 146 317.8 171.8 563.64 0.45
Including 150.4 155 4.96 16.27 0.72
Including 166.44 170.44 4 13.12 0.66
Including 197.1 317.8 120.7 395.99 0.50
Including 229.59 242.44 12.85 42.16 0.66
Including 303.8 317.8 14 45.93 0.67
and 321.8 467.8 146 479.00 0.29
WL08-PNI-360 Failed to reach target
WL08-PNI-360B 402.37 410.57 8.2 26.90 0.86
Including 402.37 404.6 2.23 7.32 1.09
and 414.27 426.42 12.15 39.86 0.91
Including 414.27 421.65 7.38 24.21 1.12
Including 418.11 421.11 3 9.84 1.45
Including 423.78 426.42 2.64 8.66 1.05
WL08-PNI-361 No significant values
WL08-PNI-362 175.12 186.74 11.62 38.12 0.22
and 189.52 229.13 39.61 129.95 0.21
and 229.72 260.33 30.61 100.43 0.20
and 262.75 366.99 104.25 342.02 0.19
WL08-PNI-363 253.31 264.24 10.93 35.86 0.27
and 292.67 302.67 10 32.81 0.21
and 310.75 316.64 5.89 19.32 0.35
and 354.06 360.6 6.54 21.46 0.22
and 363.6 372.09 8.49 27.85 0.40
and 374.09 377.35 3.26 10.70 0.23