Northern Nickel Mining Prepares Golden Rose Gold Mine for 2012 Work
03 Novembre 2011 - 1:00PM
PR Newswire (Canada)
BURLINGTON, ON, Nov. 3, 2011 /CNW/ - Northern Nickel Mining Inc.
has recently been advised that, due to a change in Corporate focus,
Goldfinder Explorations (GFN-V) will not be completing the
agreement to acquire the former operating Golden Rose Mine,
consisting of 15 mining leases and 32 mining claims located in
Afton and Scholes townships, in the Sudbury mining district of
Ontario, and is returning 100% to the Company. Work done by
Goldfinder returned exciting values in two high grade zones,
including drill intersections of 5.10 meters averaging 15.62 grams
per tonne gold and 2.60 meters of 70.05 grams per tonne , including
a spectacular .30 meters of 543.00 grams per tonne gold. Goldfinder
has turned over an extensive drilling database, and Geophysical
data file. It is hoped that after an extensive review of this
data the Company can prepare a plan for dewatering the Golden Rose
in preparation for targeted underground drilling. About the Former
Producing Golden Rose Gold Mine Historical information, derived
from the records of Noramco Mining Corp., indicate that in 1986 the
property is reported to have hosted a global geological resource of
617,000 ounces Au, contained within 2.4 million tonnes (grading
0.26 ounce per tonne). The resource is considered historical in
nature and as such is based on prior data and reports prepared by
previous operators, not defined as required by NI 43-101. The work
necessary to reclassify the resource has not been completed and the
resource estimates therefore, cannot be treated as NI 43-101
defined resources verified by a qualified person. This resource
should not be relied upon, and there can be no assurance that any
of the resources, in whole or in part, will ever become
economically viable. The deepest intercept recorded on the property
cut 84 feet of 14 g/t Au below 1,000 feet vertically, with many
other high-grade drill intersections (0.25 to 0.35 ounce per ton)
located between the 600-foot elevation and the lowest level at
1,000-foot elevation Northwestern Ontario Gold Properties Northern
Nickel also owns 5 block claims (80 Claim Units) Northeast of
Bamaji Lake in the Patricia Mining District of Ontario, about 45 km
Southwest of the former producing Golden Patricia Mine. This
area is prospective for Base Metals and Gold and the Company has
identified targets on historic airbourne surveys for further work
The Company intends to raise $ 300,000 by way of the issuance of
2,000,000 private company flow-through shares to further work on
the Golden Rose and complete a detailed airbourne survey program on
the Northwestern Ontario Property. Northern Nickel Mining Inc.
CONTACT: or to subscribe for these flow-through shares please
contactNorthernNickel Mining Inc. @ 905-510-9188 or email@
northernnickel.nickel@gmail.com
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