Fletcher Nickel Discovers New Sulphide Nickel Showing

Fletcher Nickel Inc has discovered a new sulphide nickel occurrence with two adjacent surface grab samples returning an average value of 0.45% nickel. The new discovery was made during prospecting on the wholly owned Otter claim block in the northwest corner of Hutt Township. Mineralization occurs as disseminated sulphide within a peridotite which is similar to Fletcher’s past-producing Texmont Nickel Mine 25 km to the north.

Nickel grades at this new discovery are similar to the surface exposure of the “South Zone” at the Texmont Mine. The setting of the new discovery is also very similar to that of the Texmont Mine with the mineralized peridotite sitting above a felsic volcanic unit hosting barren sulphide mineralization. This geological setting is similar to that of the giant Mt. Keith nickel deposit in Western Australia, currently being mined by BHP.

This new discovery highlights the under-prospected nature of Abitibi komatiitic peridotites when compared with the exploration intensity in similar-aged belts of Western Australia, and establishes that Fletcher’s strategy of modelling this part of the Abitibi after the Norseman-Wiluna Belt in Western Australia (hosting Mt Keith, Yakabindie, Leinster, etc.) is appropriate.

Fletcher Nickel is further exploring the new discovery with additional surface sampling, stripping and geophysics, followed by diamond drilling. Fletcher Nickel is also continuing exploration on its extensive land package in the area with two diamond drills currently working on the Texmont Nickel Mine, and exploration on a third target area (Muskrat claim block) where MNDM assessment files indicate similar disseminated sulphide mineralization with anomalous nickel values.