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Pure Nickel Inc.: Results for MAN Alaska Exploration Program
Toronto, Ontario--(Newsfile Corp. - January 23, 2013) - Pure Nickel Inc. (TSX: NIC) announces re...
About this update from Galleon Gold Corp
[{"type":"text","content":"\nPure Nickel Inc.: Results for MAN Alaska Exploration Program\n\nToronto, Ontario--(Newsfile Corp. - January 23, 2013) - Pure Nickel Inc. (TSX: NIC) announces results \nfrom its 2012 exploration program at the MAN project, Alaska. This was the fifth \nseason that Pure Nickel’s joint venture partner, Itochu Corporation, has funded exploration. With this year’s \nwork program of US$4.2 million, Itochu has expended approximately US$21 million \non exploration of the property, and currently holds a 30% ownership interest. \nThe joint venture agreement allows Itochu to earn up to a 75% interest by \nincurring US$40 million of exploration expenditures.\nThe work program included soil geochemical surveys (3,010 \nsamples collected), detailed mapping, 48 line kilometers of IP (induced \npolarization) geophysical surveys and 2,233 meters of diamond core drilling. The \nprogram was designed to identify areas of potential magmatic Ni-Cu-PGE sulphide \nmineralization at surface or at shallow depths. Drilling was used to test soil \ngeochemical and/or IP anomalies for the presence of sulphides in bedrock.\nThe work identified several new sulphide occurrences on the \nAlpha complex, with a number of soil geochemical and IP anomalies still to be \ntested. Of the eight drill holes completed, seven targeted soil or IP anomalies, \nand one hole was drilled to investigate magmatic stratigraphy. Minor amounts of \nmagmatic sulphide mineralization were encountered in most of the drill holes, \nbut assay results from these intervals were generally not significant. In hole \nPNI-12-063, however, highly anomalous Ni-Cu-PGE mineralization was intersected \nacross a significant interval. The hole targeted partially coincident IP and \nsoil geochemical anomalies in the southern part of the Alpha complex, and \nreturned an intersection of 80.95 meters apparent width grading 35 ppb Au, 106 \nppb Pt, 174 ppb Pd (315 ppb Au+Pt+Pd), 0.17% Cu and 0.25% Ni from 146.55 meters \nto 227.5 meters. \nA limited gold prospecting program was also completed during \nthe summer to attempt to locate the lode source of the many placer gold \noccurrences in the area. Results were encouraging, with one sample of glacially \ntransported material assaying 14.0 g/t Au and 4.6% Ni. The bedrock source of \nthis sample is unknown, but additional gold prospecting will...