Properties Prospective for Large, Bulk-Tonnage Sulphide Nickel Deposits
Vancouver, British Columbia, November 4, 2019 – Inomin Mines Inc. (TSX.V: MINE) (“Inomin” or the “Company“) is pleased to announce the acquisition of the Beaver and Lynx properties prospective for large, bulk-tonnage sulphide nickel deposits. The properties are located in the Cariboo region of south-central British Columbia, 15 kilometres (Beaver) to 30 kilometres (Lynx) from the Gibraltar mine, the second largest open-pit copper mine in Canada. Widespread nickel found at both properties indicates the region could host significant nickel deposits with credits for cobalt and other minerals. Inomin acquired the properties through staking to hold a 100% interest.
Beaver Nickel-Cobalt Property
The 4,250 hectare Beaver nickel-cobalt property is an advanced exploration property located 15 kilometres east of the Gibraltar copper mine. The Beaver property has excellent infrastructure including paved and forestry service roads allowing easy access to all parts of the property. Previous exploration in the Beaver property area initially targeted gold. Although gold was found in select areas, nickel sulphide and cobalt were discovered in all areas drill tested. As the Beaver property is near the Gibraltar mine and other porphyry deposits – representative of major hydrothermal activity – the district is geological conducive for hosting substantial polymetallic deposits.
Of the numerous anomalies identified by airborne and ground magnetic surveys, four areas were partially tested in 2014, by 19 diamond drilling holes totaling 2,187 metres. Drilling intersected sulphide nickel mineralization in shallow south to southwest dipping serpentinites in all areas. Nickel sulphide and cobalt concentrations were quite uniform in each of the zones (see notable drill results in Figure 1). The ultramafic rock hosting the nickel, delineated by magnetic surveys and drilling, covers a large 4 km by 8 km footprint, indicating the property’s potential for large, bulk tonnage, near-surface nickel deposits with cobalt credits (see Figure 1).
Given the discovery of significant nickel, a pre-scoping metallurgical study was completed by SGS Canada Inc. in 2015. Preliminary metallurgical tests demonstrated that 90% of the nickel is in the form of nickel sulphide minerals heazlewoodite and pentlandite, with the remaining found in serpentine minerals. Initial testing also revealed positive nickel recoveries, in line with nickel deposits of a similar nature, through conventional floatation methods. Nickel deportment indicates 91% of the nickel is in a recoverable form with the 9% balance retained in solid solution with serpentine. Furthermore, as the host rock breaks down quite readily, the nickel may be amenable to alternative low-cost recovery methods such as heap leaching.
Lynx Nickel Property
The 9,900 hectare Lynx nickel property, located just 11 kilometres south of Beaver, is in a similar but larger nickel geological environment to Beaver, with extensive nickel occurrences in outcroppings. Nickel mineralization is associated with serpentinized ultramafic rocks that may or may not contain magnetite. RGS (regional stream sediment) data collected by the Province of British Columbia illustrates the existence of a large 10 x 5 kilometre nickel anomaly on the Lynx property (see Figure 2).
In 2014, an airborne magnetic survey was completed over the entire property. The survey delineated a 8 kilometre-wide ring-like magnetic anomaly and several strong magnetic anomalies – all greater than 2 kilometres in length – denoted as the Bear, Skulow, and Onuki areas (see Figure 2). These three areas were the focus of prospecting: of the 17 rock samples chipped from serpentinite outcroppings, 9 contained greater than 0.1% nickel with the highest grading sample containing 0.27% Ni. Exploration demonstrates the Lynx property shows potential for several very large, bulk-tonnage nickel deposits.
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