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Pure Nickel and ITOCHU Announce 2013 Exploration Plans for the MAN Property
Toronto, Ontario--(Newsfile Corp. - March 27, 2013) - Pure Nickel Inc. (TSX: NIC) (the "Comp...
About this update from Galleon Gold Corp
[{"type":"text","content":"\nPure Nickel and ITOCHU Announce 2013 Exploration Plans for the MAN Property\n\nToronto, Ontario--(Newsfile Corp. - March 27, 2013) - Pure Nickel Inc. (TSX: NIC) (the \n\"Company\") is pleased to announce that its joint venture partner on the MAN \nAlaska project, ITOCHU Corporation of Tokyo, Japan, has confirmed funding of \napproximately US$3.5 million for the 2013 exploration season. Additional details \nwill be provided following a MAN project Management Committee meeting. \nMr. David McPherson, President and CEO of Pure Nickel stated, \n\"The MAN project continues to hold great promise, and we look forward to working \nwith our partner, ITOCHU, to unlock the potential of the property in this our \nsixth season of working together.\" \nExploration activity in 2013 will consist primarily of a drill \nprogram targeting the western part of the Alpha complex, where drilling in 2010 \nand 2012 intersected highly anomalous Ni-Cu-PGE mineralization. The 2013 budget \ncalls for a 2200m drill program utilizing one helicopter supported drill rig. \nThe program is expected to commence in the last week of May, and will be \ncompleted by mid-August. \nJon Findlay, Ph.D, P.Geo. is the designated Qualified Person \nfor this project.\nAbout the MAN Alaska property\nThe MAN Nickel (Ni) - Copper (Cu) - Platinum Group Element \n(PGE) Alaska property is located at the junction of the Denali and Richardson \nhighways in south-central Alaska, approximately 250 kilometers southeast of \nFairbanks. The property consists of both state and federal claims, with a total \narea of approximately 40,380 hectares. Five discrete mafic-ultramafic intrusive \ncomplexes occur on the property, the largest of which, the Alpha complex, \nmeasures approximately 33 kilometers by 3 kilometers.\nThe MAN property is being explored under a joint venture \nagreement with ITOCHU Corporation. ITOCHU has earned a 30% ownership interest, \nand has funded approximately US$21 million of exploration work since 2008. \nITOCHU may earn up to a 75% interest by incurring US$40 million of exploration \nexpenditures on the property. \nAbout ITOCHU Corporation\nHeadquartered in Tokyo, Japan, ITOCHU is a publicly listed \nmulti-billion dollar conglomerate, with a history spanning more than 150 years. \nThe company operates through 9 offices in Japan and 117 offices overseas. ITOCHU \...