Nunavik Nickel Project
Development of an nickel-copper mine - production, 2010
Message: Drilling Intersects High-Grade Nickel, Copper and PGE Mineralization
| January 22, 2009 | ||
| Canadian Royalties/Nunavik Nickel Project Puimajuq Update: Drilling Intersects High-Grade Nickel, Copper and PGE Mineralization | ||
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MONTREAL, QUEBEC--(Marketwire - Jan. 22, 2009) - Canadian Royalties Inc. (TSX:CZZ) (the "Company") reports composite assay results from seventeen (17) new drillholes from the 2008 delineation drill program at its recently discovered and 100% owned Puimajuq deposit. Significant widths of high-grade mineralization were returned from nine (9) near-surface holes including NF-08-10, which returned mineralization over 39.80 metres grading 1.51% Nickel, 4.72% Copper, 11.81 g/t Platinum and 25.79 g/t Palladium. This interval includes 8.35 metres of high-grade massive sulphides that graded 3.63% Nickel, 4.57% Copper, 1.47 g/t Platinum and 2.57 g/t Palladium plus an additional 8.60 metre interval of spectacular high-grade massive sulphide mineralization that ran 1.94% Nickel, 14.63% Copper, 52.05 g/t Platinum and 108.83 g/t Palladium. Composite assays and collar locations for all 2008 drilling at Puimajuq are reported in the tables below. Table 1 - Puimajuq Composite Assays Hole From To Width Ni Cu Pt Pd Number (m) (m) (m) (%) (%) (g/t) (g/t) ------------------------------------------------------------- NF-08-09 26.00 34.10 8.10 1.23 3.37 0.51 1.49 incl. 26.00 31.20 5.20 1.80 3.95 0.58 1.05 ------------------------------------------------------------- NF-08-10 14.95 54.75 39.80 1.51 4.72 11.81 25.79 incl. 15.65 24.00 8.35 3.63 4.57 1.47 2.57 and 24.00 32.60 8.60 1.94 14.63 52.05 108.83 ------------------------------------------------------------- NF-08-11 25.45 50.00 24.55 2.76 3.81 1.54 3.01 incl. 25.45 41.15 15.70 3.43 2.80 1.93 4.09 and 45.10 50.00 4.90 2.63 9.43 1.32 1.07 ------------------------------------------------------------- NF-08-12 66.00 69.90 3.90 1.83 2.74 0.38 2.41 and 75.25 79.90 4.65 0.65 0.80 0.30 1.51 ------------------------------------------------------------- NF-08-13 38.00 50.80 12.80 2.41 3.99 1.44 9.85 ------------------------------------------------------------- NF-08-14 51.50 53.85 2.35 2.72 2.48 0.91 1.57 ------------------------------------------------------------- NF-08-15 28.40 35.85 7.45 2.84 1.81 0.89 1.67 incl. 31.05 35.85 4.80 3.81 2.27 1.11 2.05 ------------------------------------------------------------- NF-08-16 52.40 54.40 2.00 0.39 0.33 0.27 1.18 ------------------------------------------------------------- NF-08-17 15.00 26.40 11.40 0.56 0.98 0.37 1.57 ------------------------------------------------------------- NF-08-18 24.80 32.80 8.00 0.59 0.95 0.30 1.40 and 36.00 42.85 6.85 0.38 0.47 0.13 0.95 ------------------------------------------------------------- NF-08-19 No significant results ------------------------------------------------------------- NF-08-20 No significant results ------------------------------------------------------------- NF-08-21 No significant results ------------------------------------------------------------- NF-08-22 No significant results ------------------------------------------------------------- NF-08-23 49.75 63.00 13.25 1.45 2.27 0.68 2.12 incl. 53.20 60.00 6.80 2.30 2.97 0.95 3.02 ------------------------------------------------------------- NF-08-24 42.55 44.85 2.30 3.88 4.76 1.05 1.74 ------------------------------------------------------------- NF-08-25 No significant results ------------------------------------------------------------- Table 2 - Puimajuq Drillhole Locations Hole Easting Northing Azimuth Dip Final Depth Number (UTM NAD83, Zone 18) (o) (o) (m) ------------------------------------------------------------- NF-08-09 602778E 6827670N 360.0 -46 75.00 NF-08-10 602778E 6827669N 360.0 -60 90.00 NF-08-11 602754E 6827658N 360.0 -45 75.00 NF-08-12 602754E 6827658N 360.0 -63 117.00 NF-08-13 602802E 6827705N 180.0 -45 72.00 NF-08-14 602802E 6827706N 180.0 -68 75.00 NF-08-15 602703E 6827705N 180.0 -45 60.00 NF-08-16 602703E 6827705N 180.0 -69 102.00 NF-08-17 602677E 6827666N 360.0 -45 66.00 NF-08-18 602677E 6827665N 360.0 -64 90.00 NF-08-19 602828E 6827661N 360.0 -51 93.00 NF-08-20 602678E 6827600N 360.0 -62 240.00 NF-08-21 602755E 6827675N 360.0 -45 42.00 NF-08-22 602755E 6827674N 360.0 -49 19.00 NF-08-23 602757E 6827728N 180.0 -45 75.00 NF-08-24 602803E 6827657N 360.0 -45 66.00 NF-08-25 602828E 6827681N 360.0 -50 45.00 ------------------------------------------------------------- Sampling and Assays Core samples are either split or sawn on-site, individually sealed in bags and shipped off-site on a regular basis to the ALS Chemex laboratory in Val d'Or, Quebec for sample preparation. Analyses are performed at the ALS Chemex laboratory in Vancouver, British Columbia. Base metal analyses including Nickel and Copper are determined by sodium peroxide fusion with ICP-AES analysis. Platinum, Palladium and Gold analyses are determined by fire assay and ICP-AES finish. The Company quality control (QA/QC) program includes regular insertions of blanks and standards. Reported values are uncut and composite intervals are reported as length along the core axis. Below detection limit assays are considered zero values when calculating composites for release purposes. Qualified Persons W. Grant Arnold (P.Geo.), Vice-president Exploration for Canadian Royalties Inc., is a Qualified Person in accordance with National Instrument (NI) 43-101, and is responsible for the geological information presented in this news release. About Canadian Royalties and the Nunavik Nickel Project Canadian Royalties has identified Indicated resources totalling 19,437,000 tonnes grading 0.97% Ni, 1.18% Cu, 0.56 g/t Pt, and 2.27 g/t Pd, in addition to 4,102,000 tonnes of Inferred resources at its Nunavik Nickel Project, located 20 kilometres south of Xstrata Nickel's Raglan Mine in Nunavik, Quebec. Canadian Royalties has received its Environmental Certificate of Authorization and Mine Leases for the Expo, Mesamax, Ivakkak and Mequillon sites. |
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