Flying Nickel drills 0.41% nickel over 133.55 metres at Minago, Manitoba

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Flying Nickel Mining Corp. [FLYN-TSX; FLYNF-OTC] reported initial diamond drill results from the 100%-owned Minago nickel sulphide project 270 km south of Thompson, Manitoba.

Six holes totalling 2,718 metres were drilled this past winter and the first group of assays have been received from the lab.

Drill hole FN-22-003 was drilled to test the down-dip extension of previously drilled nickel mineralization in the North Limb deposit beyond the previously drilled maximum depth of approximately 250 metres from surface on section. The hole intercepted 248.35 metres (from 260.45 to 508.8 metres) of ultramafic rocks of varying percentages of disseminated mineralization.

To date 75 assay results covering the interval from 284.34 to 397.89 metres have been received. The average grade is 0.41% nickel, 0.01% copper, 0.01% cobalt, 0.006 g/t gold, 0.033 g/t platinum and 0.096 g/t palladium over 113.55 metres.

John Lee, Flying Nickel CEO, commented: “Under-explored North Limb is delivering promising resource expansion potential. Preliminary assay results confirm the down dip extension of nickel mineralization in the southern portion of North Limb deposit, which made up only 16% of the current Minago resource (84% made up of the Nose deposit).

“We were also delighted to observe continuous platinum and palladium intercepts throughout the entire 113.5-metre section grading up to 0.242 g/t. Nickel grades appear to be increasing at depth as we eagerly await full assay results in September and October from the Company’s maiden drill campaign.”

Flying Nickel announced an open-pit optimized Minago mineral resource estimate, prepared by Mercator Geotechnical Services and AGP Mining Consultants, effective July 2, 2021, which includes a Measured and Indicated mineral resource of 722 million lbs of contained nickel and an Inferred mineral resource of 319 million lbs of contained nickel grading 0.74% nickel based on 86,118 metres of drilling.

Higher grade intersections included 15.36 metres of 0.69% Ni, 0.02% Cu, 0.01% Co, 0.016 g/t Au, 0.064 g/t Pt and 0.167 g/t Pd. A separate intersection included 11.2 metres of 0.57% Ni, 0.04% Cu, 0.01% Co, 0.012 g/t Au, 0.064 g/t Pt and 0.178 g/t Pd. Another 16.79-metre higher grade zone was also intersected that contained 0.54% Ni, 0.01% Cu, 0.02% Co, 0.003 g/t Au, 0.039 g/t Pt and 0.11 g/t Pd. The final two samples received to date had a combined length of 2.52 metres and contained 0.59% Ni, 0.04% Cu, 0.02% Co, 0.004 g/t Au, 0.057 g/t Pt and 0.152 g/t Pd.

Observations and drillhole summaries are provided below:

FN-22-01 is a 567-metre infill drill hole located at the eastern part of Minago’s main Nose deposit. The hole ended in mineralization at 567 metres, short of the 830 metres planned depth due to ground conditions. Approximately 483 metres of ultramafic rocks were observed containing varying percentages of disseminated mineralization.

FN-22-02 is a 407-metre infill drill hole located at the western part of the Nose deposit. The FN-22-02 encountered 266 metres of ultramafic rocks containing varying percentages of disseminated mineralization.

Core from FN-22-01 and FN-22-02 will undergo metallurgical tests to support the company’s ongoing feasibility study to be completed by end of 2022.

FN-22-03 is a 530-metre hole drilled near the center of Minago’s North Limb deposit to test the deep portion of North Limb beyond the previously drilled maximum depth of approximately 250 metres from surface on section. The hole intercepted 393 metres of ultramafic rocks of varying percentages of disseminated mineralization.

FN-22-04 is a 551-metre exploration hole collared 200 metres north of the North Limb to test a magnetic and vertical electromagnetic anomaly. The hole intercepted 135 metres of intercalated ultramafic and felsic rocks containing varying percentages of disseminated mineralization.

FN-22-05 is a 338-metre hole drilled at the southern end of the North Limb to test the shallow portion of the North Limb that had not been drilled before. FN-22-05 encountered 85 metres of ultramafic rocks of varying percentages of disseminated mineralization, indicating sections of North Limb mineralization occur shallower than previously estimated.

FN-22-06 is a 325-metre exploration hole drilled in between the Nose and the North Limb to test a electromagnetic and magnetic anomaly. The hole ended in magnetite bearing granitoids with no observable ultramafic rocks. A clay layer observed between the Phanerozoic cover rocks and the Archean basement rocks is believed to explain the electromagnetic anomaly.


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