VANCOUVER, Sept. 16 /CNW/ - Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) announces that an airborne geophysical survey has commenced on Nanika's Rivett Lake property located approximately 200 Kilometers northeast of Yellowknife in the Northwest Territories.
Nanika's Rivett Lake property consists of 30 claims totaling 59,714.59 acres (24,165.72 hectares) located approximately 30 kilometres southwest of the De Beer's Snap Lake Diamond Mine.
Limited exploration work carried out on the property almost fifty years ago demonstrated the area has excellent potential to host economic mineralization of gold and copper-nickel-zinc. More recently, the area was proven to have diamond potential as well. It should be noted however that, at this time, there is no certainty that previous exploration will be duplicated or that the historic grades reported are representative of any mineralization that may be identified on the project.
Special Projects Inc., a Calgary-based geophysical company, will be undertaking the airborne survey which will involve low-level, high-resolution airborne magnetic surveys flown on 50 meter-spaced lines with a total estimated survey distance flown of 5,644 line kilometers including line extensions across boundaries and contingencies.
Nanika is considering undertaking a winter drill program that would test any high-priority magnetic targets identified on Nanika's Rivett Lake property.
Alex Walus, P. Geo., a qualified person under National Instrument 43- has reviewed and approved the technical disclosure in this news release.
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and development company focusing on the advancement of its mineral properties, all of which are located within Canada.
On Behalf of the Board,
James D. Jacuta,
Chairman, President and CEO.
To receive Company news via email please contact [email protected] and mention "Nanika Resources News" in the subject line.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
%SEDAR: 00005736E
For further information: CHF Investor Relations at 416-868-1079, Christopher Haldane, Account Manager, at ext. 237, [email protected]; Jeanny So, Director of Operations, at ext. 225, [email protected]; Or Nanika Resources Inc. at 604-638-0699 or Toll Free at 1-866-580-0699, http://www.nanikaresources.com
Share this article