Churchill Announces Highly Anomalous Ni-Cu-Co Soil Sample on the Margin of the Taylor Brook Gabbro Complex
August 16 2023 - 7:00AM
Churchill Resources Inc. (“
Churchill” or the
“
Company”) (
TSXV: CRI) is pleased
to announce early results from its regional soil sampling work this
summer on the Taylor Brook Project. The soil program this year was
designed as a first pass survey along ~ 8km of the unsampled Layden
Intrusive Trend (“LIT”), as well as the adjacent ~ 12km long
western margin of the Taylor Brook Gabbro Complex (“TBGC”) with 50m
spaced sample stations on 200m spaced grid traverses.
Soil sample 884693 located on the margin of the
TBGC South Lobe returned highly anomalous values of 584 ppm Ni,
1172 ppm Cu and 0.064% Co, per Figure 1.
Paul Sobie, CEO of Churchill stated, “This soil
anomaly is the first sign of the TBGC South Lobe being mineralized,
as it has never been explored. We have been intrigued since initial
review of the project with Altius in 2020, by the very strong
magnetic and gravity signatures of the South Lobe, and its rifted
continental margin setting. Subsequent work by Churchill has
defined similar age and petrographic relationships between the
South Lobe and the LIT, host to the high-grade magmatic nickel
mineralization at the Layden Gabbronorite. The Ni, Cu and Co
results for Sample 884693 represent the best soil assays acquired
to date on the project, with the cobalt assay equalling tenors seen
previously only in the Layden high-grade massive sulphide samples.
The Cu and Co ratios to Ni are dramatically different from those in
soils and rocks elsewhere along the LIT, suggesting a different
mineralization style from the nickel-dominated magmatic
conduit-type at Layden.”
Figure 1 – Ni, Cu and Co Soil Assay
Perspectives over Total Magnetic Intensity
The sample 884693 result has been re-assayed
with Co, Cu and Ni concentrations validated, and Pt, Pd and Au
analyses have been requested. Results have been received for the
first ~1000 samples of the ~5000 sample 2023 program (see Figure
2). In-fill sampling will be carried out on anomalies of interest.
A follow-up soil grid over the new anomaly designated TBSL-1, with
50m lines and 25m sample stations, is commencing this week along
with prospecting. Similar follow-up work carried out on the LIT-1
anomaly has confirmed the nickel tenors in soil over a wider area,
and gabbronorite rocks have been found. The LIT-1 soil anomaly will
be stripped and channel sampled, with TBSL-1 to follow as in-fill
sampling and prospecting results are received.
Figure 2 – Soil Sample Progress over
Total Magnetic Intensity
Taylor Brook ProjectThe Taylor
Brook Project consists of 9 map-staked licenses containing 705
claims totalling 176.25 km2, of which seven licenses are 100%
Churchill-owned, and two small licenses totalling 4.75km2 are in
the 3rd year of 3-year options to earn 100% ownership. Altius
retains a 1.6% gross sales royalty on the Churchill licenses.
Churchill’s 2023 program includes property-wide soil sampling and
prospecting, a CSAMT survey over the Layden Gabbronorite,
completing the high-resolution detailed aeromagnetic coverage of
the South Lobe area, stripping/trenching, and diamond drilling.
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 soil samples were
placed in labelled, sealed kraft bags and delivered to Eastern
Analytical of Springdale, NL, an ISO/IEC 17025 certified facility.
OREAS Standards and blanks were inserted in the sample batches. The
samples were analysed using ICP 34 (inductively coupled plasma)
analytical protocols. Samples with over limit Co contents were
re-assayed using Eastern’s Ore Grade Assay (multi acid digestion)
overlimit method. Quality control results, including the
laboratory’s control samples, were evaluated immediately.
About Churchill Resources Inc.
Churchill Resources Inc. is a Canadian
exploration company focused on developing high grade, magmatic
nickel sulphide mineralization in Canada, principally at its
prospective Taylor Brook and Florence Lake properties in
Newfoundland & Labrador. The Churchill management team, board,
and its advisors have decades of combined management experience in
mineral exploration and in the establishment of successful publicly
listed mining companies, both in Canada and around the world.
Churchill’s Taylor Brook and Florence Lake projects have the
potential to benefit from the province’s large and diversified
minerals industry, which includes worldclass nickel mines and
processing facilities, and a well-developed mineral exploration
sector with locally based drilling and geological expertise. The
province was recently ranked 4th in the world for investment
attractiveness by the Fraser Institute in its 2022 annual survey of
mining and exploration companies.
Further InformationFor further information
regarding Churchill, please contact:
Churchill Resources Inc.Paul Sobie, Chief Executive
OfficerTel. +1 416.365.0930
(o) +1
647.988.0930 (m)Email
psobie@churchillresources.com
Alec Rowlands, Corporate ConsultantTel.
+1 416.721.4732 (m)Email
arowlands@churchillresources.com
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/64b3d8fd-e7db-4b75-af40-0366049b88c6https://www.globenewswire.com/NewsRoom/AttachmentNg/622b8309-fda5-4715-ac02-87e734ee2529
Churchill Resources (TSXV:CRI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Churchill Resources (TSXV:CRI)
Historical Stock Chart
From Aug 2023 to Aug 2024