Vancouver, November 25, 2021 - Quebec Nickel Corp. (CSE: QNI) (FSE: 7lB) ("Quebec Nickel Corp." or the "Company") is pleased to report on its 2022 drill program on its 100%-owned Ducros Property Group Nickel-Copper-PGE Project, located in the Abitibi Greenstone Belt, northwestern Quebec.
The Company has engaged Orbit Garant Drilling Inc. based in Val-d'Or to complete its maiden, multi-phase drill program on the property, commencing in early January 2022. Orbit Garant Drilling Inc. is one of Canada's largest mineral drilling companies, providing services to major, intermediate and junior mining companies through all stages of exploration, development and production cycles.
The first phase of the drill program (winter 2022) will focus on three (3) Nickel-Copper-PGE target areas across the property.
- Fortin Ni-Cu-PGE Showing (East Sector of Property): Drill targets to be tested in this first phase are based on results from the 2020 ground electromagnetic (ARMIT-TDEM) survey, the 2021 stripping mapping and sampling program, and on-going property-scale compilation and 3D geological modelling;
- Ducros Sill (Central Part of Property): Follow-up verification drilling (hole twinning) of reported historical anomalous nickel values obtained: DU 87-05: 0.167% Ni over 190.5m, DU 87-06: 0.171% Ni over 67.3m and DU 87-07: 0.150% Ni over 134.4m (GM47268) and, their potential on-strike and vertical extension, along the 3 kilometre long, and up to 600 metre wide prospective Ducros ultramafic sill; and
- Ducro Gabbro Area (Western Sector of Property): Testing of previously defined ground electromagnetic conductors associated with highly anomalous Nickel, Copper, Cobalt till sample results.
The company has increased its 2021/2022 Work Program to over $5 Million. The increased exploration budget will allow the Company to drill up to 20,000 metres across the Ducros Property Group area. The Phase II drill program will be directed to testing additional targets identified from the 1,717 line-km property-wide helicopter-borne VTEM survey, based on the result obtained from follow-up ground truthing geophysical surveying, prospecting/sampling and geological fieldwork, in addition to other prospecting/geological/geochemical targets identified on the property through on-going Company exploration activities.
Stock Option Grants
Additionally, the Company announces the granting of 3,400,000 incentive stock options to certain directors, officers, employees, and consultants of the Company at an exercise price of $0.30 (the "Options") in accordance with the Company's 10% rolling incentive stock option plan.
The technical content of this release has been approved for disclosure by Michel Lacey, P. Geo. (OGQ #867), a Qualified Person as defined by NI 43-101. Michel Lacey is independent of the Company and is not an employee of the Company or hold securities of the Company.
About Quebec Nickel Corp.
Quebec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing nickel projects in Quebec, Canada. The Company has 100% interest in the Ducros Group Property, consisting of 280 contiguous mining claims covering 15,147 hectares within the Abitibi region located in Quebec, Canada. Additional information on Quebec Nickel Corp. is available at www.quebecnickel.com Join our Quebec Nickel Corp. Investor Telegram Group here.
On Behalf of the Board of Directors, Quebec Nickel Corp.
"David Patterson, CEO"
For further information, please contact:
Elyssia Patterson, CFO
Tel: +1 (855) 7 NICKEL /+1 (855) 764-2535
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for this release's adequacy or accuracy.
Cautionary and Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Quebec Nickel's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although Quebec Nickel believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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