Exploration Projects

Qiqavik Project

Royal Nickel has a 68% interest in True North Nickel Inc., a private company whose main assets are a 100% interest in the Qiqavik and West Raglan properties. On March 2, 2016, Royal Nickel announced that during the 2015 exploration season it had discovered new high grade gold, silver, copper and zinc mineralization over a 15km strike length at its newly consolidated Qiqavik Project in Northern Quebec. Qiqavik in located approximately 20 km Northeast of West Raglan and Camp Chukotat.

Qiqavik Project

The Qiqavik property is located in the Paleoproterozoic trans-Hudsonian orogen of Northern Quebec, also known as the Cape Smith Belt. Gold and copper mineralization is hosted in metavolcanic and metasedimentary rocks of the Parent Group. The gold mineralization was initially discovered by Falconbridge while prospecting for nickel in the region. TNN’s advantageous land position in this emerging mineral belt has given it a unique opportunity to acquire some of the most prospective ground in the Cape Smith Belt for its new Qiqavik Project in one of the best mining jurisdictions in the world. Both Qiqavik and West Raglan could represent major discoveries in this underexplored, emerging polymetallic belt, which is comparable in scale to the Kambalda-Kalgoorlie camp of Western Australia, and home to the world class Raglan Mine.

The Qiqavik Property is comprised of claims held by TNN, Les Ressources Tectonic (“LRT”) and Wayne Holmstead (“Holmstead”) Figure 2. In July 2015, TNN entered into an option agreement to acquire 100% interest in 93 LRT claims by completing certain exploration and other expenditures in the amount of $710,000 over a five year period. Claims held by LRT are subject to 1.5% NSR, 1% of which can be purchased by TNN for $1M. TNN fulfilled the initial exploration expenditures requirement during 2015 exploration season by funding a program in excess of $35,000.

In December 2015 TNN entered into an option agreement to earn 100% of the Goshawk property (5 claims) from Holmstead by completing certain exploration and other expenditures in the amount of $215,000 over 3 years. Claims held by Holmstead are subject to 1.5% NSR, 1% of which can be purchased by TNN for $1M.

2015 Exploration Program

Data collected during the 2015 exploration program has outlined a number of possible intrusion-related mineral occurrences which could reflect the district-scale zoning of a very dynamic copper-gold system. Gold mineralization occurs in massive sulphide veins and with disseminated arsenopyrite in silicified volcanoclastic rocks and in shear zones. Silver mineralization occurs with galena in quartz veins while copper occurs as chalcopyrite in the form of replacement patches or in high temperature veins associated with pyrrhotite and/or pyrite. The overall size of the alteration system and areal extent of mineralization is significant. Preliminary results of a petrological study for 5 samples collected during the summer 2015 exploration program identified native gold mineralization in several samples that are consistent with a low-sulfidation epithermal model.

Significant results from the 2015 exploration season are shown in Table 1 and Figure 1. The 2015 exploration program has confirmed historical exploration results and identified new areas of high grade mineralization extending the mineralized trend to over 15km. In addition, much of the western portion of the Qiqavik property along strike remains unexplored. On the basis of these initial positive results, the claim position has been expanded to both the south and the west to cover the possible extensions of mineralization. TNN has a strategic advantage in this new and emerging mineral belt as the location of its Qiqavik property is only 20 km Northeast of its West Raglan Property and Camp Chukotat (Figure 2) which provides an opportunity to optimize exploration logistics for both projects.

Table 1: Significant1 Results from Surface Grab Samples in 2012 & 2015 Qiqavik Prospecting Program

2015 Significant Results (Grab Samples)

Sample

Source

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

Q135488

Boulder

198.0

79

0.58

4.38

2.59

Q135472

Boulder

26.8

3

0.01

0.01

0.34

Q135389

Boulder local

14.9

33

0.05

2.02

2.44

Q135471

Boulder

9.6

1

0.01

0.00

0.26

Q135362

Sub-crop

9.4

23

0.05

1.12

0.27

Q135390

Boulder local

6.9

20

0.10

0.57

1.24

Q135425

Sub-crop

6.3

15

0.83

0.00

0.01

Q135476

Sub-crop

5.8

1

0.06

0.00

0.02

Q135437

Boulder

5.4

3

0.00

0.48

0.15

Q135477

Sub-crop

4.6

1

0.06

0.00

0.01

Q135478

Boulder

3.9

2

0.28

0.00

0.01

Q135410

Sub-crop

3.7

0.5

0.00

0.00

0.00

Q135482

Boulder

2.0

3

0.25

0.00

0.01

Q135470

Boulder

1.8

0.5

0.02

0.01

0.13

Q135434

Boulder

1.2

2

0.12

0.00

1.76

Q135408

Boulder local

1.1

0.5

0.00

0.00

0.00

Q135424

Sub-crop

1.0

6

0.31

0.00

0.01

Q135358

Sub-crop

0.7

5

0.00

0.01

0.00

Q135361

Sub-crop

0.3

5

0.05

0.04

0.00

Q135481

Boulder

0.2

3

0.03

0.00

0.45

Q135435

Boulder

0.1

0.5

0.09

0.00

3.62

Q135464

Boulder

0.0

2

0.01

0.02

0.54

Q135421

Sub-crop

0.0

1

0.33

0.00

0.00

Q135452

Boulder

0.0

0.5

0.58

0.00

0.02

Q135414

Outcrop

0.0

1

0.54

0.00

0.00

Q135436

Boulder

0.0

2

0.58

0.00

0.14

Q135463

Boulder

0.0

2

0.00

0.20

0.31

Q135428

Boulder

0.0

0.5

0.35

0.00

0.03

Q135453

Boulder

0.0

1

0.54

0.00

0.02

Q135374

Boulder

0.0

34

0.00

5.19

6.26

 

2012 Significant Results (Grab Samples)

Sample

Source

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (pm)

RK127458

Sub-crop

2.56

1.70

0.31

0.00

4.57

RK127457

Sub-crop

0.66

1.86

0.21

0.00

1.59

RK127452

Float

23.60

4.98

0.10

1.18

0.94

RK127407

Float

0.00

12.00

0.00

0.28

0.46

RK127501

Float

0.05

12.80

1.09

0.01

0.41

RK127482

Outcrop

14.30

4.48

0.03

0.19

0.19

RK127518

Float

0.05

12.10

1.91

0.00

0.09

RK127465

Outcrop

0.06

9.84

1.18

0.00

0.06

RK127462

Sub-crop

0.71

2.20

0.33

0.00

0.06

RK127466

Outcrop

0.05

16.25

1.66

0.00

0.05

RK127620

Sub-crop

0.10

13.15

3.88

0.00

0.03

RK127455

Float

1.59

7.13

0.00

0.26

0.02

RK127622

Sub-crop

0.62

6.70

0.89

0.00

0.01

RK127467

Sub-crop

3.33

14.75

1.59

0.00

0.01

RK127547

Sub-crop

0.01

1.21

0.38

0.00

0.01

RK127624

Sub-crop

0.01

1.00

0.49

0.00

0.01

RK127527

Sub-crop

0.35

245.00

0.01

1.78

0.01

RK127475

Outcrop

0.06

0.88

0.59

0.00

0.01

RK127483

Outcrop

1.18

0.33

0.01

0.00

0.01

RK127628

Sub-crop

0.01

1.20

0.49

0.00

0.00

RK127627

Sub-crop

0.01

1.47

0.44

0.00

0.00

RK127528

Sub-crop

0.11

68.00

0.00

0.39

0.00

RK127521

Float

0.25

609.00

0.01

3.80

0.00

RK127608

Sub-crop

2.90

2.41

0.00

0.00

0.00

RK127526

Sub-crop

0.17

330.00

0.01

2.16

0.00

RK127525

Sub-crop

0.01

11.25

0.01

0.07

0.00

RK127522

Sub-crop

0.83

272.00

0.02

1.38

0.00

RK127523

Sub-crop

0.03

12.00

0.01

0.06

0.00

 

1Significant Results are those grab samples which returned values of: Au>1g/t, Ag>3g/t Cu>0.3%, Zn >0.3%). 2012 Results were previous reported by Corvus’ Gold New release dated October 30. 2012.   

 

Download - Figure 1
Download - Figure 1a
Download - Figure 1b
Download - Q_IMG_8239
Download - Q_IMG_8265
Download - Q135408
Download - Q135482b
Download - QIMG_8099