Churchill Resources Inc. (“
Churchill” or the
“
Company”) (
TSXV: CRI) is pleased
to announce that its Phase 1 Exploration Program at Taylor Brook in
western Newfoundland has proceeded well and has identified and
started to evaluate a magmatic Ni-Cu system on the property which
appears to have significant scale.
- Historic drilling of the Layden
Showing in 2008 returned 4.25 m of 1.63% Ni, 0.36% Cu and 0.027% Co
in hole 08-TB-17
- Recent Churchill drilling and
mapping indicate that Layden may be part of a much larger
mineralized magmatic system of sulphide breccia structures within a
gabbroic intrusive
- Sulphide-cemented breccia
structures have been intersected in several locations over ~100m
along the overall gabbroic intrusive thus far, at depths from
surface to ~-200m.
- mineralized breccia structures
appear to range from 5-15m wide with sulphide contents up to 40%
(pyrrotite-pendlandite-chalcopyrite) locally over 10-20cm
- Assay results are expected from
Churchill’s 2,477m Phase 1 drilling program towards the end of the
year
Paul Sobie, Chief Executive Officer of Churchill
remarked, “We are really excited by the drilling and surface
mineralization at Taylor Brook, which indicate that we are
intersecting lithologies and textures related to magmatic Ni-Cu
deposits. We look forward to continuing to evaluate this magmatic
system and potentially locating more massive styles of
mineralization, as well as any other systems we may discover on the
overall property.”
Taylor Brook Project
To date 13 core holes totalling 2,477m have been
drilled as the Phase 1 program, of which several holes were
positioned geologically to define the emerging magmatic system.
Others were targeted on VTEM conductor plates, all of which have
helped to establish a preliminary model for this portion of the
overall property, as per this figure which shows current and
historical drilling over unprocessed recently collected total field
ground magnetics.
Drilling, mapping and geophysical surveys
indicate that the mineralized outcrop at the original Layden
Showing appears to be part of a much larger intrusive magmatic
Ni-Cu system striking east-southeast and plunging to the southeast
with significant thicknesses based on drill intersections. The
Layden magmatic system is hosted by a discrete, magnetic,
meta-gabbroic to meta-pyroxenitic intrusion within basement
gneisses with the Ni-Cu mineralization taking the form of pods,
thin horizons and blebs of pyrrhotite, pentlandite and chalcopyrite
that brecciate the pyroxenite.
The sulphide-cemented breccia structures have
been intersected in several locations over ~100m along the overall
gabbroic intrusive at depths from surface to ~-200m. The
mineralized breccia structures appear to range from 5-15m wide with
sulphide contents up to 40% locally over 10-20cm with several
separate zones of breccia within the Layden intrusion.
Bore Hole Electromagnetic (BHEM) surveys on all
holes are being conducted to assist in planning deeper Phase 2
drilling. Logging and sampling of Phase 1 holes is nearing
completion as well, a large suite of samples has been selected for
geochemical analysis, petrography and in some cases, radiometric
age dating to aid in understanding the host and intrusive rocks and
mineralization event.
A heavy minerals sampling program along the
western margin of the very large Taylor Brook Gabbro Complex which
outcrops less than a kilometre east of the mineralized magmatic
intrusive at Layden is currently underway. Drilling results are
expected toward the end of 2021.
Florence Lake Project
A helicopter-borne VTEM and Horizontal
Gradiometer Geophysical Survey is commencing at the Florence Lake
Project in Labrador.
The Florence Lake Property contains Raglan-type
ultramafic volcanic-hosted massive and disseminated sulphide nickel
showings, and was last explored by Falconbridge and JV partners
between 1990-1997 during which time approximately 6,250m of
drilling was completed in 45 shallow holes. 1996 drill core is
located on the property for relogging and sampling, whereas 1992-3,
partly sampled core, is stored at NL Government core library in
Happy Valley – Goose Bay. Highlights of that work included drill
testing of the high-grade Baikie Showing where shallow drilling
(<-100m depths) returned:
DDH FLK-92-02: 2.19% Ni, 0.22% Cu, 0.16% Co over
11.32 metres from 44.7 to 56mDDH FLK-92-12: 1.33% Ni, 0.05% Cu over
13.5 metres from 83.0 to 96.5m
The Baikie Showing has demonstrated mineralized
continuity over 110m of strike length from twelve drillhole
intercepts and mapping, and is interpreted as a near vertically
plunging subzone of disseminated, semi-massive and massive sulphide
mineralization, possibly similar to the Raglan or Kambalda style of
nickel deposits. Other showings along strike have generated +1.0%
nickel grab samples or short drill intersections and need modern
exploration work along with Baikie.
Churchill announced positive results of
due-diligence resampling of the historical core in a news release
dated October 7, 2021.
The technical and scientific information in this
news release has been reviewed and approved by Dr. Derek H.C
Wilton, P.Geo., FGC, who is a “qualified person” as defined under
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects and independent of the Company. The Churchill drill core
samples are half core samples laid out and split by qualified
geologists and technicians under the direction of Senior Project
Consultant Dawn Evans-Lamswood, P.Geo. at the Company’s drill camp
near the property. The samples were placed in labelled, sealed
plastic bags and periodically batches are delivered to Eastern
Analytical for analysis. Standard OREAS 13b and blanks were
inserted in the assay batches.
About Churchill Resources
Inc.
Churchill is managed by career mining industry
professionals and currently holds four exploration projects, namely
Taylor Brook in Newfoundland, Florence Lake in Labrador, Pelly Bay
in Nunavut and White River in Ontario. All projects are at the
evaluation stage, with known mineralized Ni-Cu-Co showings at
Taylor Brook, Florence Lake and Pelly Bay, and diamondiferous
kimberlitic intrusives at White River and Pelly Bay. The primary
focus of Churchill is on the continued exploration and development
of the Taylor Brook and Florence Lake Nickel Projects.
Further Information
For further information regarding Churchill,
please contact:
Churchill Resources Inc. |
Paul Sobie, Chief Executive Officer |
Tel. |
+1 416.365.0930 (o) |
|
+1 647.988.0930 (m) |
Email |
psobie@churchillresources.com |
|
Alec Rowlands, Corporate Consultant |
Tel. |
+1 416.721.4732 (m) |
Email |
arowlands@churchillresources.com |
|
|
Cautionary Note Regarding Forward Looking
Information
This news release contains "forward-looking
information" and "forward-looking statements" (collectively,
"forward-looking statements") within the meaning of the applicable
Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date
of this news release. Any statement that involves discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but
not always using phrases such as "expects", or "does not expect",
"is expected", "anticipates" or "does not anticipate", "plans",
“proposed”, "budget", "scheduled", "forecasts", "estimates",
"believes" or "intends" or variations of such words and phrases or
stating that certain actions, events or results "may" or "could",
"would", "might" or "will" be taken to occur or be achieved) are
not statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements relate
to, among other things, the Company’s objectives, goals and
exploration activities conducted and proposed to be conducted at
the Company’s properties; future growth potential of the Company,
including whether any proposed exploration programs at any of the
Company’s properties will be successful; exploration results; and
future exploration plans.
These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors, among other things, include: the expected
benefits to the Company relating to the exploration conducted and
proposed to be conducted at the Company’s properties; failure to
identify any additional mineral resources or significant
mineralization; the preliminary nature of metallurgical test
results; uncertainties relating to the availability and costs of
financing needed in the future, including to fund any exploration
programs on the Company’s properties; business integration risks;
fluctuations in general macroeconomic conditions; fluctuations in
securities markets; fluctuations in spot and forward prices of
gold, silver, base metals or certain other commodities;
fluctuations in currency markets (such as the Canadian dollar to
United States dollar exchange rate); change in national and local
government, legislation, taxation, controls, regulations and
political or economic developments; risks and hazards associated
with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or
unexpected formations pressures, cave-ins and flooding); inability
to obtain adequate insurance to cover risks and hazards; the
presence of laws and regulations that may impose restrictions on
mining and mineral exploration; employee relations; relationships
with and claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); the
unlikelihood that properties that are explored are ultimately
developed into producing mines; geological factors; actual results
of current and future exploration; changes in project parameters as
plans continue to be evaluated; soil sampling results being
preliminary in nature and are not conclusive evidence of the
likelihood of a mineral deposit; title to properties; ongoing
uncertainties relating to the COVID-19 pandemic; and those factors
described in the most recently filed management’s discussion and
analysis of the Company. Although the forward-looking statements
contained in this news release are based upon what management of
the Company believes, or believed at the time, to be reasonable
assumptions, the Company cannot assure shareholders that actual
results will be consistent with such forward-looking statements, as
there may be other factors that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
There can be no assurance that forward-looking information, or the
material factors or assumptions used to develop such
forward-looking information, will prove to be accurate. The Company
does not undertake to release publicly any revisions for updating
any voluntary forward-looking statements, except as required by
applicable securities law.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
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