CORRECTION – Class 1 Nickel and Technologies Limited

In This Article:

Class 1 Nickel and Technologies Limited
Class 1 Nickel and Technologies Limited

Figure 1

Somanike Project Location Map
Somanike Project Location Map

Figure 2

TDEM anomalies on first derivative magnetic map
TDEM anomalies on first derivative magnetic map

Figure 3

EM anomalies conductivity base map
EM anomalies conductivity base map

TORONTO, July 14, 2022 (GLOBE NEWSWIRE) -- In a release issued earlier today under the headline “Class 1 Nickel Identifies new Sulphide Nickel targets in the La Mott Ultramafic Complex, Quebec” by Class 1 Nickel and Technologies Limited (CSE: NICO), please note that the spelling of “La Mott Ultramafic Complex” should be spelled “La Motte Ultramafic Complex” in the headline, first bullet, and first paragraph, and in the ninth paragraph, “EM systems” should be “BHEM systems”. The corrected release follows:

Class 1 Nickel Identifies new Sulphide Nickel targets in the La Motte Ultramafic Complex, Quebec

  • A new Ground TDEM Geophysical Survey confirms ten (10) new exploration targets within a La Motte ultramafic complex that hosts the former Marbridge Nickel Mine.

  • Four (4) Electro Magnetic (EM) anomalies indicate potential near-exploration targets identified within a 2-kilometre vicinity, including a shallow and un-drilled anomaly spanning over 800 metres immediately south of Marbridge.

  • Three (3) anomalies correlate with nickel mineralization at the former Marbridge Nickel Mine. The geophysical compilation also indicates that conductive trends continue down plunge and along strike of known nickel mineralization. Two (2) anomalies indicate a very poorly tested trend in the immediate footwall to Marbridge Mine #2 and a potential hanging wall zone respectively.

  • A laterally extensive TDEM trend occurs on the Ataman zone that where localized shallow historical drilling confirms high-grade nickel sulphides.

  • Compiled magnetic surveys correlate directly with ultramafic rocks and map their extent.

  • Interpretation and planning of a diamond drilling campaign now underway.

Class 1 Nickel and Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), is pleased to announce positive initial results and recommendations stemming from the 32.85 line-km ground TDEM survey that has been completed over the Somanike Nickel Sulphide Project (the “Project” or “Property”) in La Motte, Quebec.

The company is pleased to announce that 10 new EM anomalies have been successfully identified including a grouping in the vicinity of the historical Marbridge Mine.

The Somanike Nickel Project is located 25 km north of the town of Malartic and is comprised of 172 contiguous mining claims with a combined area of 45.3km. The Somanike Project includes the famous Marbridge Nickel Mine and its associated deposits which were partially mined by Falconbridge Nickel, delivering 702,366 tons grading 2.28% Ni and 0.1% Cu over a five-year period ending in 1968 (see attached Figures 1-3).


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