Nickel Rock Resources Files NI 43-101 Report for the Nickel Project Next to the Decar Nickel Project of FPX Nickel Corp.

Rhea-AI Summary

Nickel Rock Resources Inc. (NIKLF) has filed a Technical Report for The Nickel Project, dated January 21, 2021, on SEDAR. The project features five claim blocks consisting of 6,125.32 hectares, showcasing nickel, cobalt, and chromium mineralization, including awaruite. Plans for 2021 include strategic trenching and drilling, supported by a 12-man exploration camp. The report emphasizes the project's potential for systematic exploration targeting nickel mineralization and mentions promising lithium exploration in Nevada. The report aims to confirm previous findings and advance geological understandings.

Positive

• Filing of the NI 43-101 Technical Report enhances transparency and credibility.
• The Nickel Project showcases significant mineralization potential with nickel, cobalt, and chromium.
• Proposed exploration activities, including drilling and trenching, aim to validate historical data and advance exploration efforts.
• Location chosen for exploration camp optimizes accessibility and operational efficiency.

Negative

• The exploration stage indicates the project has not yet produced tangible results.
• Reliance on historical data might not guarantee future exploration success.

Vancouver, BC, March 4, 2021 /PRNewswire/ -- Nickel Rock Resources Inc. ("the Company") (TSX-V: NICL), (OTCQB: NICKLF) is pleased to announce that the Technical Report for The Nickel Project, dated January 21, 2021, prepared by Jacques Houle, P. Eng. and Jeremy Hanson, P.Geo. has been filed on SEDAR and can be obtained on the Company's website at NI #43-101 Report.

The Company's World Class Canadian Nickel Properties

The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometers northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt and chromium. At least some of the nickel mineralization occurs as awaruite.

The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt and chromium. Nickel-cobalt mineralization has not been well explored, but the presence of awaruite has been documented.

Based on the findings of this NI #43-101 Technical Report, the company is planning a detailed exploration for the upcoming exploration season.

Proposed 2021 Work Program

Robert Setter, President & CEO of the Company states "The proposed 2021 work program consists of several important exploration plans that will be used to both confirm successful historical work on the property and also advance the current thinking of the Company's geological team with regards to mineral exploration in the area and the discovery of an Awaruite nickel deposit. Successful exploration results from at neighboring FPX Nickel Corp. has only fueled the interest in this area and type of nickel deposit."

The Company's exploration plans include strategic trenching, surface exploration diamond drilling, camp construction, and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping. The Company proposes to have a 12-man exploration camp built on the north slope of the un-named mountain west of and adjacent to Mount Sydney Williams and will be built next to a sub-alpine lake at the headwaters of Van Decar Creek.

Easily accessible by helicopter, the location of exploration camp was selected based on past exploration camps at this location and its overall suitability for exploration support and ability to accommodate enough field personnel for the exploration work.

NI #43-101 Report Highlights:

• The Nickel Project ("project") consists of four non-contiguous mineral claims groups held by Nickel Rock Resources Inc. ("company') through three separate agreements. The exploration stage project is in the Takla Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project. The Decar Nickel Project is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit within the Permian to Triassic age Cache Creek Complex.
• The principal target on the project is nickel occurring as awaruite, but at the exploration stage all other styles of mineralization should be considered.
• Systematic, ground-based exploration work began within the area of the claims now covered by the Nickel Project under the direction of Ms. Ursula Mowat, P.Geo. in 1987, continuing intermittently until 2012. This work established the presence of elevated nickel, cobalt and chromium values in rocks, soils, and stream sediments.
• The area of the claim groups of the project were included in Geoscience BC's QUEST and QUEST-West projects, including multiparameter regional geophysical surveys, and regional stream sediment reanalyzes and data compilations between 2008 and 2009.
• R. Britten's technical paper "Regional Metallogeny and Genesis of a New Deposit Type – Disseminated Awaruite (Ni3Fe) Mineralization Hosted in the Cache Creek Terrane published in 2017 in Economic Geology should be utilized as an interim mineral deposit model or profile for the Nickel Project.

NI #43-101 Report Conclusion

The Nickel Project is worthy of phased, systematic exploration programs designed and implemented to delineate areas with known or high probability metallic nickel mineralization, and to discover new areas of similar mineralization.

In addition to its world class nickel exploration assets in Canada, the Company has a very promising lithium clay exploration asset in the state of Nevada USA.

About Clayton Valley Lithium Project

Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to be the source of the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.

Clayton Valley Project, Silver Peak, Nevada

The Company is exploring for lithium clays and brines within its project area of 118 claims covering over 930 hectares (2,300 acres). The property stretches in a northwest direction from the evaporation ponds of Albemarle Corporation NYSE: ALB. It has been widely reported that Albemarle is planning to double its lithium production by 2025 by committing between US$30 million and US$50 million in additional investment on the property. In 2021, Albemarle plans to commence exploration of clay and evaluate technology that could accelerate the viability of lithium production from clay resources in the region. 

Qualified Person

Jacques Houle, P.Eng., a qualified person as defined by NI 43 - 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.

About Nickel Rock Resources Inc. www.nickelrockresources.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. 

On Behalf of the Board of Directors

"Robert Setter"

Robert Setter, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statement.

Contact:

Nickel Rock Resources Inc.
1220 – 789 West Pender Street
Vancouver, BC, Canada V6C 1H2
604- 428-5690
www.nickelrockresources.com  
info@nickelrockresources.com

 

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SOURCE Nickel Rock Resources Inc.

FAQ

What is the Technical Report for The Nickel Project by Nickel Rock Resources?

The Technical Report, filed on January 21, 2021, outlines the mineralization and exploration plans for The Nickel Project, emphasizing nickel, cobalt, and chromium presence.

What are the key components of the proposed 2021 work program for Nickel Rock Resources?

The 2021 work program includes trenching, diamond drilling, and geological mapping to advance the exploration of The Nickel Project.

How does The Nickel Project relate to FPX Nickel Corp.'s Decar Nickel Project?

The Nickel Project is located near FPX Nickel Corp.'s Decar Nickel Project, which enhances its exploration potential due to shared geological features.

What are the environmental conditions for the exploration camp in The Nickel Project?

The exploration camp will be built near a sub-alpine lake and is easily accessible by helicopter, selected for operational efficiency.

What minerals are targeted in the Nickel Project exploration?

The Nickel Project primarily targets nickel as awaruite, along with cobalt and chromium.