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Churchill Resources Announces 1% Ni from Soil Sample at Florence Lake and Target Generation Success on all 3 nickel projects in NL
TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce partial results from its r
About this update from Churchill Resources Inc
[{"type":"text","content":" TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce partial results from its regional work this summer on the Florence Lake, Taylor Brook and Cormack properties. These surveys have successfully begun to identify the next generation of nickel-copper-cobalt +/- PGE targets beyond those known from historical work, on all three of these Newfoundland and Labrador properties. Florence Lake Project The property is host to several Raglan-type ultramafic-hosted massive and disseminated sulphide nickel showings, and was last explored by Falconbridge, and latterly Tapestry Ventures, between 1990 and1997. The CRI work to date has included compilations of all past work, a detailed helicopter electromagnetic and magnetic survey and collection of ~3200 soil samples of which results have been received for 2,346 as reported here. Figure 1 below presents B-horizon soil sample results for Ni, Cu and Co along with conductor axes, nickel showing locations and past drilling. Highlights include two samples requiring follow-up assays, of which sample 902700 located ~ 35m from the known Baikie Showing returned 1.0% Ni along with highly anomalous Co, Cu and Cr values. Sample 904061 returned 0.16% Ni and similarly highly anomalous Co, Cu and Cr values, and is in an unexplored area of the property with a strong coincident EM response. The Company is particularly encouraged by the anomalous results being seen over its newly identified extensive conductor trends. The Florence Lake project consists of four map-staked licenses totalling 316 claims (69km2) located approximately 70km west of the coastal community of Postville in central Labrador. CRI entered into a two-year option agreement with Altius Resources Inc. (“Altius”) to acquire a 100% interest in the property, subject to a 1.6% gross sales royalty on any metals produced, in an agreement dated June 24, 2021. Taylor Brook Project CRI’s regional work at Taylor Brook is focused on following a magnetic trend known to host a near-surface linear intrusive body thought to be the conduit to the Ni-Cu-Co bearing Layden gabbronorite body which has been drilled and channel sampled by the Company over the past 12 months. Examples of massive, net-textured and breccia-type mineralization have been intersected with initial results anno...