Business
Churchill Resources Reports Balance of 2022 Results and 2023 Drilling Plans for Taylor Brook and Florence Lake Nickel Projects
TORONTO, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce final 2022 results from it
About this update from Churchill Resources Inc
[{"type":"text","content":" TORONTO, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce final 2022 results from its work on the Florence Lake and Taylor Brook properties both in Newfoundland and Labrador (NL), Canada. Paul Sobie, CEO, remarked that “2022 was our first full year working our NL projects and we accomplished much in advancing the high-grade nickel discovery potential on both Taylor Brook and Florence Lake. Drilling and channel sampling of the partially outcropping Layden Intrusive on Taylor Brook has successfully exposed both high-grade massive and net textured nickel-copper-cobalt mineralization at shallow depths over approximately 200m of strike – now we must follow those intersections to depth. In all, CRI has intersected the high-grade nickel zones at Layden and the adjacent Western Dyke with eight drillholes (including hole TB22-30 reported below) with the deepest intersection at ~100m vertical. Regionally we have now confirmed through age dating, petrography, and geochemistry that the host gabbronorite intrusive to the nickel mineralization at Layden is of the same relative Silurian age as the large adjacent Taylor Brook Gabbro Complex, and that the linear Layden intrusive extends for 5km, with magnetics suggesting at least another 3km of strike. Soil sampling has located a highly anomalous area ~2.5km southeast of Layden along the trend, now designated TBS-1, where mineralization likely outcrops, for early 2023 follow-up. We are provisionally planning for 5000m of drilling in 2023 that will include Layden targeted drilling focused on the high-grade system, as well as scout holes at new targets. At Florence Lake we are very encouraged by the large number of nickel-cobalt soil anomalies with coincident VTEM conductors that have been defined. Most have seen little or no work by past explorers and therefore represent potential new discoveries of high-grade nickel mineralization. These types of magmatic system are known to contain multiple deposits at Raglan, Thompson, and Timmins in Canada as well of course as Kambalda, in Western Australia. Work is well along for planning and permitting the camp and a 5000m drill program on the project in the summer, 2023, to be assisted by detailed magnetic and LiDAR surveys this spring.” Florence Lake Project The Flore...