Feature article June 1, 2023:
Québec
Nickel Corp. Critical Metals (Ni-Cu-Co-PGE-Au) Deposit in
Abitibi is Spectacular
Spectacular Grades:
Expanding
Fortin Sill Zone NE & SE along strike, building off 2022 drill
step-out intersection of 0.59% Ni, 0.54 Cu & 1.01 g/t Pt-Pd-Au over 35.63 m,
including 1.85% Ni, 1.65% Cu
& 3.27 g/t Pt-Pd-Au over 8.43 m.
 |
Québec Nickel Corp.
(CSE:
QNI) (OTCQB: QNICF) (71B.F) |
Share data, Capitalization, & Corporate info
Shares Outstanding: 111,242,205
Recently Traded:
~CDN$0.06/share
(CSE:
QNI)
52 Week High/Low:
$0.29/ 0.05
Current Market Cap.:
~$6.7 million Canadian
Corporate Website:
www.quebecnickel.com
------ ------ ------
Mining
Analyst, Eric Lemieux, provides noteworthy endorsement
following site visit of Québec Nickel Corp's Ducros
Ni-Cu-PGE Project.
...Click to view his Nov. 2/22 article
"We
estimate for the 7 intersections disclosed by QNI in the
Fortin Sill system an average of 4.95m @ 0.72% Ni, 0.78% Cu,
1.32 g/t Pt-Pd-Au"
- Eric Lemieux, Mining Analyst |
|
|
Valuation Commentary:
Québec Nickel Corp. (CSE: QNI) (OTCQB:
QNICF) (Frankfurt: 71B) is a Canadian-based critical metals
exploration company focused on advancing its 100%-owned Ducros
Critical Metals (Ni-Cu-Co-PGE-Au) Property in
Québec, located in the
prolific Abitibi Greenstone belt. The Abitibi region is world renown
for world-class gold-copper deposits, however QNI has what is
rapidly developing as one of Canada's most exciting nickel sulphide plays, increasingly described in mining circles as a "big unicorn"
for the fact it is an outlier with grades ~4 - 5 times what is
found in the region for nickel, but also spectacular elevated
copper, cobalt, platinum, palladium, and gold.
Québec Nickel
Corp. was formed in 2020 to specifically tackle Ducros, its maiden
multi-phase drill program began in Q1-2022 when QNI completed just over 21,000 metres in 91 holes across
the Ducros property. The majority of drilling in 2022 was focused on
the Fortin Sill Ni-Cu-PGE Zone which is rapidly
developing, starts at surface and appears amenable to a high-grade
open pit scenario. Besides the
Fortin Sill Zone, QNI also looked at targets that are highly
prospective for new discovery in other areas of the property;
setting up for home-run discovery potential in 2023 at the Ducros
Gabbro and Ducros Ultramafic Sill Complex.
Québec Nickel kicked off its 2023 drilling
program at Ducros in January, announcing a total of 20,000 metres to be
completed at the Fortin Sill Zone, Ducros Ultramafic Sill Complex
and Ducros Gabbro targets. For the 2023 drill season, starting in
January, the drill rig was first put to work at the Ducros
Gabbro target where soil samples came back elevated with nickel,
copper, and cobalt (drill assays are pending). The geological team
then ventured
proximal where work was performed in 1987 (hole 87-6 which returned
greater than 0.22% nickel and 120 ppm cobalt over the last 20 metres
of the 106.7 metre long BQ diameter hole before being abandoned in
bad ground), here enormous quality
Ni-Co bulk tonnage potential exists -- the experienced nickel
generation team on a theory of where to punch into the right rock type,
looking for a home-run deposit. The April 19, 2023 news release "Québec
Nickel Drills Over 250m of Serpentinized Ultramafic Rock at Ducros
Sill Target & Provides Corporate Update" affirms the
geological team is on to something potentially huge at the Ducros
Sill target; in-short, QNI hit a nearly 300-metre-long
intersection of variably serpentinized dunite and peridotite in hole
QDG-23-505 (assays are pending). Results suggest the presence
of large tonnage nickel-cobalt target with a geophysical expression
spanning several hundred metres in width and multiple kilometers
long.
The Globe and Mail published an April 17, 2023
Special Edition entitled "Will
we have enough nickel for our EVs in 2030?" covering the
supply, demand, and outlook for the hot commodity. In the article
the authors noted that the largest Canadian nickel deposit is the
Dumont deposit located in the Abitibi mining camp in Quebec. Dumont
is a large scale, low-grade ultramafic type nickel-cobalt deposit. The rock-type that QNI just punched into in its
April 19th release is similar to what Dumont has -- needless to say
QNI's Ducros Sill Complex appears poised to get very
exciting.
QNI currently has a nominal market cap of ~C$6.7M (~111.24 million
shares trading near ~C$0.06).
The company is also fully funded for
its 2023 exploration program having raised ~C$8.7M over the holiday
season; the majority of the company shares are institutionally held, the company is
well capitalized to accomplish key objectives thru 2023.
The share price of QNI appears poised for upside revaluation as
continued news flow occurs, and as the significance of what Québec
Nickel Corp. possesses is better appreciated by the market.
The geological team leadership, directors, and
board of advisors are an impressive who's-who of nickel expertise
with career accomplishments across the spectrum from nickel
exploration & discovery, development, and major production (see CV's
at the bottom of this article). Gary DeSchutter,
M.Sc., P.Geo., is Vice-President of Exploration for Québec Nickel
Corp., he started his career with Falconbridge and transitioned to
Anglo American for 6 years as part of their global nickel generation
team. Gary joined Québec Nickel in February-2022 -- in-short, he picked
Québec Nickel because he knows nickel and was
attracted by the anomalous Nickel-Copper-Platinum Group Element
(PGE) occurrences and elephant-size potential at Ducros.
Québec Nickel Corp. appears on a trajectory
with serious potential to yield an impressive first-pass Ni-Cu-PGE
resource on its Fortin Sill Zone, possibly after its 2023 drill program -- one
look at the recent drill results at the Fortin Sill Zone of the Ducros NI-Cu-PGE Property and it is apparent
that the methodical approach of step-outs and following the continuity drilling
is paying off...

Figure 1a. (above) Fortin Sill Zone Step-out
Drilling hole 28 & 29.
These step-outs are ~25 m SE from holes 9, 10, & 11
at the original showing; the geological team is already building a voluminous
body of quality material. -- Image source:
Company Q3-2022 Presentation, related news
release: August 30, 2022 "Québec
Nickel Corp Intersects 1.85% Ni, 1.65% Cu and 3.27 g/t Pt-Pd-Au Over
8.43 Metres In Step-out Drilling At The Fortin Sill Zone, Ducros
Project, Abitibi, Québec". Seen in the image above are stellar
grades (nearly 5% Ni-Cu
and 6 g/t Pt-Pd-Au -- these are probably the best grades combined
of Ni-Cu + PGEs +
Gold in the history of the Abiti region). In image of core seen
above you can see the foliation of sulphides with multiple events
going on (good for the formation of nickel deposits), the material is
running ~35% - 40% sulphides.
[Footnotes: Reported
assay intervals seen in image are sample length weighted, the true
width of mineralized intervals is not known due to insufficient
information, 3E = Pt+Pd+Au]
The following Plan Map from the
December 15,
2022 news release shows a sizeable Ni-Cu-PGE zone is being
advanced at the Fortin Sill Zone:

Figure 1b. (above) Plan map showing the
locations of selected drill holes completed at the Fortin Sill Zone
with Ni + Cu assays (%) in relation to the outline of the Fortin
Sill discovery outcrop. Drill holes with new assay results reported
in the December 15, 2022 news release highlighted in orange i.e. QDG-22-30 through QDG-22-32
and QDG-22-38.
The following Plan Map from
March 1, 2023 news release adds a a cluster of new holes
collared last year way to the SW of the original outcrop showing,
and suggests the zone is open both at depth and along strike. Assays
are still pending from several of the drill holes in the cluster.

Figure 1c. (above) Plan Map. Assays are still
pending from several of the drill holes in the cluster. Hole
QDG-22-63 returned a 4.9-metre-long drill intercept
averaging .77% Ni, .56% Cu, 340 ppm Co and .8 g/t Pt-Pd-Au.
The following is a view showing depth.

Figure 1d. (above) Drill section looking 330°
azimuth (75 metres thick) showing the locations of selected holes
completed at the Fortin Sill Zone during the 2022 drilling program
in relation to the Fortin Sill Zone discovery outcrop.
Recent news headlines from Québec Nickel Corp.:
● May 10, 2023 -- "Québec
Nickel Initiates Metallurgical Test Program at Fortin Sill Zone"
● April 19, 2023 -- "Québec
Nickel Drills Over 250m of Serpentinized Ultramafic Rock at Ducros
Sill Target & Provides Corporate Update"
● March 1, 2023 -- "Québec
Nickel Intersects Greater Than 1.25% Nickel in Fortin Sill Zone
Drilling"
● January 17, 2023 -- "Québec
Nickel to Kick off Its 2023 Drilling Program at Ducros"
● December 30, 2022 -- "Québec
Nickel Corp. Announces Closing Of The Second Tranche Of Its
Previously Announced Private Placement"
● December 15, 2022 -- "Québec
Nickel Reports New High-Grade Assay Results From Fortin Sill Zone
Drilling Including 1.07% Ni, 1.19% Cu, 364 Ppm Co, 2.70 G/t Pt-Pd-Au
Over 4.77 Metres"
● November 17, 2022 -- "Québec
Nickel Provides An Update Of Its Work Programs At The Ducros
Ni-Cu-Pge Project, Abitibi, Québec"
● October 19, 2022 -- "Québec
Nickel Corp Drills Possible Extension Of The Fortin Sill Zone At
Depth"
● October 12, 2022 -- "Québec
Nickel Corp. Adds Third Drill at Its Ducros Ni-Cu-PGE Project,
Abitibi Québec"
Synopsis of the October 12, 22 News Release: |
• QNI has added a 3rd
rig that will target the Fortin Sill (recently
incl. 8.43 m at 3.81% NiEq) in order to
accelerate the ongoing 20,000 m program.
• The 1st rig is also turning at Fortin Sill and
the 2nd one is at Ducros Sill Ultramafic Complex
(DUSC) for the 3,000 m program at DUSC with 50%
drilling complete.
• All planned summer work programs completed and
analysis underway:
- Additional channel
sampling from the Fortin Sill outcrop,
stellar grades.
- Property wide
biogeochem survey – results received for 90%
of the samples with a final report expected
by year-end.
- Satellite imagery
over the entire Ducros project – final
progressing of data in progress.
- Air-borne gravity
survey over the entire Ducros property –
will help better understand geology and
structure.
- Drone magnetic
survey over Fortin Sill – 3,000 m line km
completed. Results being processed and will
help refine current & future drill targets.
• The press release
includes a summary table of assay results
returned from selected holes completed;
previously reported assay results are
highlighted by a 35.63 metre-long intersection
that returned 1.13% Ni + Cu, 238 ppm Co and 1.01
g/t Pt-Pd-Au, and includes higher grade
sub-intervals of 1.44 % Ni, 1.49 % Cu, 461
ppm Co and 2.79 g/t Pt-Pd-Au over 11.80 metres
and 1.85% Ni, 1.65% Cu (3.50% Ni + Cu), 576
ppm Co and 3.27 g/t Pt-Pd-Au over 8.43 metres
in hole QDG-22-29. Of note, a one-metre-long
sample from hole QDG-22-29 containing heavy
net-texture chalcopyrite and pyrrhotite (35-40%
total sulphides) returned 1.98% Ni + 2.77% Cu
(4.75% Ni + Cu), 624 ppm Co and 5.78 g/t
Pt-Pd-Au. The release also has an image of
drill sections (see Figure 8 below in this
article), and a plan map showing the locations
of selected drill holes completed at the Fortin
Sill Zone (see Figure 9 below in this article).
Drilling to date has indicated near-surface,
high grade and bulk tonnage potential at the
Fortin Sill target with significant upside
potential as the Fortin Sill trend is +1 km in
strike length. There is also similar
potential at the other targets at the Ducros
project. |
● September 20, 2022 -- "Québec
Nickel Corp Adds Second Drill Rig To Its Ducros Ni-Cu-PGE Property
and Begins a 3,000 Metre Drilling Program at The Ducros Ultramafic
Sill Complex"
● August 30, 2022 -- "Québec
Nickel Corp Intersects 1.85% Ni, 1.65% Cu and 3.27 g/t Pt-Pd-Au Over
8.43 Metres In Step-out Drilling At The Fortin Sill Zone, Ducros
Project, Abitibi, Québec"
● June 13, 2022 -- "Québec
Nickel Corp. Provides An Update Of Exploration Activities At Its
Ducros Project, Abitibi, Québec"
● June 6, 2022 -- "Continuity
Drilling at Québec Nickel Corp’s Ducros Project Intersects 1.49% Ni
+ Cu, 271 ppm Co and 1.71 g/t Pt-Pd-Au Over 9.0 Metres"
● May 16, 2022 -- "Québec
Nickel Corp. Intersects 0.44% Ni, 0.51% Cu and 0.69 g/t Pt-Pd-Au
Over 18.50 Metres at its Ducros Project, Abitibi Québec"
● April 27, 2022 -- "Québec
Nickel Corp. Receives Final Airborne VTEM Data & Plans To Mobilize A
Second Drill To Its Ducros Ni-Cu-PGE Project, Abitibi Québec"
Below is an overview of the project and why
investors seeking exposure to nickel as a commodity should consider
establishing a long position in Québec Nickel Corp.
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Québec Nickel Corp.
Presents Exceptional Opportunity
Nickel is a hot commodity: Nickel is a
key component of most lithium ion batteries, enabling more energy
density. With EV demand on the rise so is the demand for nickel. The
trend has been for increased nickel content in EV batteries as
energy density is further optimized by various manufacturers; ~20 kg
to 50 kg of Ni is in a typical EV battery, depending on make. There
is a shortage of the type of high-grade nickel that’s needed for EV
batteries. Russia has traditionally been a source for a lot of this
nickel, however it is now considered black-market. There is a lack
of western-world domestic sources of nickel.
To quote Elon Musk
on July 22, 2020 “Any mining companies out
there, please mine more nickel ... Tesla will give you a giant contract
for a long period of time if you mine nickel efficiently and in an
environmentally sensitive way.” Currently stainless
steel production accounts for the majority (~85% - 90%) of nickel
used globally, however demand from battery production is expected to
increase steadily. Not all nickel can go into batteries, it has to
be clean ‘class-1’, dirty laterite nickel from Indonesia, Australia,
Philippines, and Brazil generally does not meet the grade – the
purest nickel comes from sulphides (such as that which Québec Nickel
Corp. has at Ducros). Trying to upgrade low-grade laterites
involves extremely energy-intensive processes such as pressure acid
leaching which results in an environmentally destructive CO2
footprint ~20 times more than that can be achieved from sulphide
sourced nickel.
------ ------ ------
Location
-- Mining friendly jurisdiction with
exceptional infrastructure.

Figure 2. (above) Location map --
Located in the eastern Abitibi Greenstone Belt, northeast of
Val-d'Or Québec. The Abitibi Greenstone Belt is ~700 km long and
home to numerous Cu-Au producers. The Timmins area has had several
past nickel producers.
● 100% QNI-owned – 282 claims for 15,293
hectares.
● Located 80 km northeast of Val-d’Or, between the nearby
towns of Lebel-sur-Quévillon and Senneterre (2 towns that are driven by
mineral exploration and logging, providing QNI access to workforce
and support (e.g. labs and drill contractors). Québec Nickel Corp.
rents office space in Val-d'Or and is logging its core there.
Additionally, Québec Nickel Corp. is populating a data-room
on an ongoing basis to facilitate majors/entities that sign a CA
(several have been signed to date [source:
Nov. 17, 2022 news release]). Val-d'Or is a huge
gold town with 4 operating mills with another 2 set to come online
-- no need to sleep in tents and no need for choppers -- the team
can hit the property in ~50 minutes from Val-d'Or.
● Provincial Highway 113 crosses east side of property + network of
logging roads.
● CN Rail line and power within five kilometres of property.
● There are 2 small airports ~15 minute drive
either side of the property, N & S.
● Mining-friendly jurisdiction at the local, provincial and national
levels. Québec Nickel Corp. has already begun environmental and
community work behind the scenes.
Synopsis/opinion -- where this appears
headed: On the side of the
road, in mining-friendly Québec, with power and rail (possibly
sending to Sudbury) -- Québec Nickel Corp. has, assuming continued
exploration success, the ingredients to potentially become one of the lowest cost nickel concentrate producers.
Drilling to date has indicated near-surface, high grade and bulk
tonnage potential at the Fortin Sill target with significant upside
potential as the Fortin Sill trend is +1 km in strike length. There
is also similar potential at the other targets at the Ducros
project.
------ ------ ------
Background/Property acquisition: The
project originated from what was originally known about an
outcrop that has since become the Fortin Sill discovery zone. The
showing had been known since the 70s and 80s; the outcrop returned
anomalous chip samples from prospectors, and the prospectors made a
deal with Golden Valley Mines which was a Glenn Mullan company. Back
in 2008 Glenn Mullan drilled two holes in the area of the showing
and came back with ~20 m of ~.3 Ni, ~.4 Cu + Platinum and Gold. That
was 2008 and the market went south resulting in the project laying
dormant for the next ~13 years. The now Executive Chairman and
Director of Québec Nickel Corp.,
David Patterson, recognising the coming demand for nickel and
potential of the anomalous land package, contacted Glenn in 2020 and
made a deal; essentially for a 9.9% equity position once public plus a 1.5% NSR -- they
struck a deal and the company was
created.
------ ------ ------
Claims Map - Property Geology and
Exploration Zones/Targets

Figure 3. (above) Claims Map - Property
Geology and Exploration Zones/Targets. The image above has been
annotated / augmented (inset & description on right) by Mining MarketWatch
Journal. The Fortin Sill Zone is the anchor, where a deposit of significance is being
advanced, working/expanding from the known to the unknown with great
success. Then off to the west of Fortin at the Ducros Sill,
back in 1987, there was a series of 5 holes drilled by operators
looking for elements other than nickel, records indicate they hit
the right rock types; they hit dunite rock from from top to bottom,
also ultramafics were intersected -- important ingredients for what
QNI is looking for. They were not targeting geophysical anomalies as
QNI is doing now. Also note that this sits next to a sulphur
resource that was drilled off in the late 50s (Note: sulphur is an
important ingredient for creating a nickel deposit). The purple
squiggly lines are what the Québec Goverment has interpreted to be
the right rock types (ultramafic intrusive rocks). Note that
ultramafic sills and dykes all intrude into the light blue package
of sulphide bearing meta-sediments -- again more encouraging
ingredients to bake in a Ni-Cu-PGE deposit. Québec Nickel Corp.
will be the first to put a drill hole into areas that are highly
prospective for discovery.
------ ------ ------
VTEMTM
Airborne Geophysics & Geology

Figure 4. (above) VTEMTM
Airborne Geophysics & Geology, with inset of channel dug at
striped expression of outcrop at Fortin Sill Ni-Cu-PGE zone.
In addition to geophysics completed earier in 2022 the VP of
Exploration Exploration, Gary DeSchutter, also recently had
high-resolution magnetics flown from drones in key areas to zoom-in
and see micro structures in incredible detail. The geological team
has in-depth magnetic imagery overlaying the geology with in-house
lines representing its guess of large faults and structures;
essentially translating to "X marks the spot" in some cases.
Numerous high-quality coincident electromagnetic-magnetic anomalies
have been identified throughout the
project. 2-D and 3-D inversion
modelling of the VTEMTM and magnetic data are now being used to guide
the drilling program.
------ ------ ------
Work Program
for Q1-Q2 2022 consisted of:
● 1,717 line-kilometre VTEM™
airborne geophysical survey.
● Initiate 20,000+ metre multi-phase drilling
program at Fortin Sill target area.
● Channel sampling of Fortin Sill discovery
outcrop.
● Incorporate new data into exploration
database, interpretation and drill target
generation.
Figure 5. (right) VTEM™
airborne geophysical survey over Québec
Nickel's Project. |
 |
 |
Work
Program Q3-Q4 2022:
● Step-out drilling at Fortin Sill Ni-Cu-PGE
Zone.
● High resolution UAV magnetic surveys over
select targets.
● Prospecting, geological mapping &
biogeochemical surveys.
● Initiate drilling program at Ducros Ultramafic
Sill Complex and Ducros Gabbro targets.
● Airborne gravity-gradiometer survey.
● Drill-off new discoveries, 3D modeling &
preliminary resource estimation work.
Figure 6 (left) Stripped
expression of the original showing at Fortin
Sill zone. One of several channels
that were made (and sampled) is visible in this
image along with a drill visible in distance.
The entire stripped outcrop is ~60 m long by 25
m wide. |
Advancing the Fortin Sill
Ni-Cu-PGE zone -- building quality
3-dimensional volume of material

NOTE: Now
consider that step-outs 28 & 29 (not shown above) are ~25
m away to the SE (from holes 9, 10, & 11 at the original outcrop),
the geological team is already building a 3-dimensional volume of
material.
Figure 7. (above) Section at Fortin Sill
Ni-Cu-PGE zone at outcrop looking ~NW. The colour red represents
over 1% combined Ni-Cu. Holes 9 is Québec Nickel's confirmation hole
stemming from the 2008 (historical) hole that Glenn had done at the
outcrop; the geological team simply continued and drilled a hole
~45° and tilted the head and drilled two more holes (hole 10 & 11)
on the expression of the stripped outcrop, yielding quality results
of higher and higher grades.

Table 2. (above) excerpt of summary of assay results
returned from selected holes completed at the Fortin Sill Zone
-- Table sourced from October 12, 2022 news release entitled "Québec
Nickel Corp Adds Third Drill At Its Ducros Ni-Cu-PGE Project,
Abitibi Québec"

Figure 8. (above) -- Drill section showing
the locations of selected holes completed at the Fortin Sill
Ni-Cu-PGE Zone in relation to historical hole GCF-08-07 and the
Fortin Sill Zone discovery outcrop.

Figure 9 a. (above) -- Plan map showing the
locations of selected drill holes completed at the Fortin Sill Zone
in relation to the Fortin Sill discovery outcrop. The location of hole
QGD-22-28 has been moved approximately two (2) metres to the SE from
its actual collar location for illustrative purposes. Image sourced
from
Oct. 12/22 news release.
Assays pending on extension at depth


Figure 9 b. & c. (above) Plan map and
drill section showing the locations of selected holes completed at
the Fortin Sill Ni-Cu-PGE Zone. from October 19, 2022 news release "Québec
Nickel Corp Drills Possible Extension Of The Fortin Sill Zone At
Depth"; "The abundance, composition and texture of the sulphides
in this portion of QDG-22-38 appear very similar to the
mineralization encountered in hole QDG-22-09 earlier this year" ...
"As previously reported, assay results from hole QDG-22-09 returned a
31 metres-wide intercept averaging 0.37% Ni, 0.40% Cu and 0.55 g/t
Pt-Pd-Au that includes higher grade sub-intervals of 0.44% Ni, 0.51%
Cu and 0.69 g/t Pt-Pd-Au over 18.50 and 0.55% Ni, 0.86% Cu and 0.86
g/t Pt-Pd-Au over 5.0 metres" ... "The sulphide-bearing ultramafic
unit encountered in QDG-22-38 occurs approximately 60 metres below
and 50 metres to the southwest of the currently known extents of the
Fortin Sill Ni-Cu-PGE Zone".
------ ------ ------
2022
Drill Program Highlights at Fortin Sill Zone
(presented in order progress occurred):
 |
 |
QDG-22-09 - Confirmation
Hole: (click
here for related May 16, 2022 release)
Confirmation drilling of
historical (2008) hole returned 0.37% Ni, 0.40%
Cu, 176 ppm Co and 0.55 g/t Pt-Pd-Au over 31.0 m
(hole QDG-22-09); higher grade sub-intervals
include:
● 0.44% Ni, 0.51% Cu,
192 ppm Co, 0.69 g/t Pt-Pd-Au over 18.50 m
● 0.55% Ni, 0.86% Cu, 207 ppm Co 0.86 g/t Pt-Pd-Au over 5.00 m
Figure 10 a. & b. (left) --
core from confirmation hole 9; copper-rich
disseminated and blebby magmatic sulphides. |

Figure 10c. (above) -- A 0.50 m sample of semimassive to net texture sulphides from QDG-22-09: contains
1.31 % Ni, 0.38 % Cu, 413 ppm Co and 2.12 g/t Pt-Pd-Au.

Table 3. (above) Grades for the above 0.50 m
sample from QDG-22-09.
Follow-Up Continuity Drilling: (click
here for related June 6, 2022 release)
QDG-22-10
29.0 metres @ 0.36% Ni, 0.41% Cu, 167 ppm Co,
0.95 g/t Pt-Pd-Au, including high-grade subintervals:
● 9.0 m @ 0.70% Ni, 0.79% Cu, 271 ppm Co, 1.71 g/t Pt-Pd-Au over 9.0 m,
and
● 4. 0 m @ 0.90% Ni, 1.01% Cu, 324 ppm Co
and 2.39 g/t Pt-Pd-Au
QDG-22-11
32.67 metres @ 0.33% Ni, 0.32% Cu, 170 ppm Co
and 0.57 g/t Pt-Pd-Au, including a high-grade
subinterval:
● 6.0 m @ 0.62% Ni, 0.60% Cu, 256 ppm Co and 1.01 g/t Pt-Pd-Au
Fortin Sill Zone
Step-out Drilling:
(click
here for related August 30, 2022 release)
QDG-22-28
Hole QDG-22-28 cored through a 29.90 metre
interval averaging 0.30% Ni, 0.31% Cu, 167 ppm Co, and 0.45 g/t
Pt-Pd-Au which includes a higher-grade subinterval containing 0.46%
Ni, 0.64% Cu, 209 ppm Co and 0.72 g/t Pt-Pd-Au over 3.24 metres.
QDG-22-29
QDG-22-29Hole QDG-22-29 intersected a 11.80
metre interval containing 1.44% Ni, 1.49% Cu, 461 ppm Co and 2.79
g/t Pt-Pd-Au which includes a higher-grade subinterval assaying
1.85% Ni, 1.65% Cu (3.50% Ni + Cu), 576 ppm Co and 3.27 g/t Pt-Pd-Au
over 8.43 metres.
QDG-22-30,
Hole QDG-22-31, & QDG-22-38 (click
here for related December 15, 2022 release)
-
Magmatic Ni-Cu-PGE sulphides
encountered in three new holes collared to the
southeast of the Fortin Sill Zone discovery outcrop.
-
Hole QDG-22-30 cored through
0.58% Ni, 0.60% Cu, 230 ppm Co and 1.26 g/t Pt-Pd-Au
over 13.77 metres, including 1.07% Ni, 1.19% Cu, 364
ppm Co and 2.70 g/t Pt-Pd-Au over 4.77 metres.
-
Hole QDG-22-31 returned a
14.56 metre interval containing 0.43% Ni, 0.33% Cu,
193 ppm Co and 0.57 g/t Pt-Pd-Au and includes a
higher-grade subinterval assaying 0.65% Ni, 0.88%
Cu, 243 ppm Co and 0.99 g/t Pt-Pd-Au over 1.74
metres.
-
Highly anomalous results were
also returned from hole QDG-22-38 at depth and to
the southwest of the Fortin Sill Zone proper and
include 0.64% Ni + Cu, 164 ppm Co and 0.66 g/t
Pt-Pd-Au over a seven-metre core length.
DG-22-63 (click
here for related March 1, 2023 release)
-
Hole QDG-22-63 returned a
4.90-metre-long drill intercept averaging 0.77% Ni,
0.56% Cu, 340 ppm Co and 0.80 g/t Pt-Pd-Au which
includes a higher grade three-metre-long
subinterval of 1.06% Ni, 0.77% Cu, 447 ppm Co and
1.09 g/t Pt-Pd-Au.
-
Individual one-metre-long
samples from the reported intersection returned up
to 1.27% Ni, 1.21% Cu, 559 ppm Co and 1.46 g/t
Pt-Pd-Au.
-
The drill intercept occurs
approximately 60 metres below and 55 metres to the
southwest of the known extents of the Fortin Sill
Zone and suggests the zone is open both at depth and
along strike.
-
Assay results from five
additional holes completed from the same drill pad
as QDG-22-63 are pending.
-
Follow-up exploration,
expansion and definition drilling are planned for
this winter and spring at the Fortin Sill Zone.
------ ------ ------
Fortin Sill Zone
Discovery Outcrop Channel Sampling:

Figure 11a. (above) Results from
2022 channel sampling program at the Fortin Sill discovery outcrop.
Channel sample assay results were draped on a georeferenced
Fortin Sill discovery outcrop drone image (oblique view looking 345°
Az and down 30°).
Also seen in the image is Table 4. (above) --
Summary of assay results from the Fortin Sill discovery outcrop
channel sampling program completed [Reported assay
intervals are sample length weighted]. When Québec Nickel
first acquired the project the team stripped as much as it could,
exposing the full expression of the outcrop -- essentially the whole
outcrop is mineralized.
------ ------- ------
Updated
Exploration Model for the Fortin Sill Zone
An analysis of all the data collected at the Ducros
property this year has resulted in a refined
geological/exploration model for the Fortin Sill Zone
(Figure 2). A review and integration of relevant
geophysical data (VTEMTM, drone magnetics, airborne
gravity), along with historical and QNI drilling results
in addition to recent surface geological mapping
indicates the Ni-Cu-Co-PGE-Au mineralization at the
Fortin Sill Zone occurs at or near the footwall contact
of a large west-southwest-dipping embayment structure
within the larger mafic to ultramafic Fortin Sill. The
overall Fortin Sill intrusive body is interpreted to
span several hundred metres or more in an approximate
northwest-southeast trend and is characterized by the
occurrence of a large blow-out, or embayment, at the
Fortin Sill Zone. The conceptual geologic model is
supported by several lines of evidence including:
-
Hanging wall and footwall
contacts between the Fortin Sill and host country
rocks identified during detailed surface geological
mapping completed this past summer.
-
The observation of large blocks
(xenoliths) of country rock basalts and sediments
within the Fortin Sill intrusion, as seen in the
discovery outcrop, regional mapping and within drill
core.
-
Identification of a gradation
in composition of the host rocks at the Fortin Sill
Zone from ultramafic pyroxenitic (PXT) rocks at the
footwall side of the embayment, through varitexture
gabbronoritic rocks in the centre of the embayment (GBNOR),
to more evolved gabbroic rocks (GBRO) at the hanging
wall side of the structure.
-
The Fortin Sill intrusion and
corresponding embayment structure is identifiable
within the various geophysical datasets,
specifically in the recently collected drone
magnetic data as well as within some of the
historical datasets.

Figure 11b. Plan view sketch map showing a
conceptual geological model for the location and emplacement of the
Fortin Sill Zone within the larger mafic to ultramafic Fortin
intrusion. Shown is the gradational nature of the Fortin Sill Zone
host rocks from an ultramafic footwall base (PXT = pyroxenite),
through a mafic/ultramafic mid-zone (GBNOR = gabbronorite) to a
mafic hanging wall top (GBRO = gabbro).
This refinement in the exploration model is
being used to plan the next phase of work at Fortin Sill Zone and
will likely include the drill testing of the newly modelled footwall
contact along its entire surface, both along strike and at depth.
------ ------ ------
Other Noteworthy
Target Areas - 2023 target areas shown in areas with dashed lines...

Figure 12 (above) -- Plan map of Québec
Nickel’s Ducros property (red outline) showing the merged total
field VTEMTM and drone magnetic data sets overlain on top of Québec
Government geology. 2023 drilling target areas are indicated by
dashed outlines. Drill targets comprise coincident geophysical
anomalies (VTEM conductive features +/- magnetic highs responses +/-
gravity features).
Ducros Sill Complex
2022 efforts on Ducros Sill Complex:
As
announced on September 19, 2022, exploration drilling began in
the central portion of the Ducros property at the Ducros Ultramafic
Sill Complex (DUSC). The objective of the Phase I drill program at
the DUSC was to obtain the first ever geological information from
this ~2 kilometres wide by ~10 kilometres long exploration target
area. This area is interpreted to be underlain by significant
volumes ultramafic to mafic dikes and sills that have been injected
into an extensive package of sulphide-bearing clastic metasediments
and metavolcanics. As the target area is covered by variable
thicknesses of overburden and contains little to no outcrop
exposure, the current geological interpretation of the DUSC target
area is derived from Québec Government geology maps that are in turn
based on interpretations of historical airborne geophysical
datasets.
The Company is happy to report its Phase I drilling program at the
DUSC target has been successfully completed and the drill contractor
has demobilized from the area. Over 3,650 metres in 10 holes were
drilled along an east-west fence. This fence of holes spans more
than 800 metres across the interpreted north-south strike of the
regional geological trend. These holes targeted strong magnetic high
geophysical features with well-defined flanking and/or coincident
electromagnetic conductive anomalies, as highlighted by the VTEMTM
airborne survey completed in Q2 2022 (see news release from April
27, 2022 for reference) and further refined by high-resolution drone
magnetic surveys (refer to news release from June 13, 2022). All
drill holes encountered rock types that support the geological
interpretation of the DUSC, including but not limited to thick mafic
to ultramafic intrusive units, graphitic metasedimentary seams,
sulphide +/- oxide facies iron formation, felsic to intermediate
metavolcanics and related breccias as well as sequences of
silicified +/- sulphide-bearing exhalative/volcanogenic/volcanoclastic
rock units. Core logging and sampling is in progress and assay
results from the Phase I DUSC drilling will be reported when
available.
2023 Ducros Sill Complex Exploration Update
- Copy of April 19, 2023 news release:
Québec Nickel Drills Over 250m of
Serpentinized Ultramafic Rock at Ducros Sill
Target & Provides Corporate Update
Results
suggest the presence of large tonnage
nickel-cobalt target with a geophysical
expression spanning several hundred metres
in width and multiple kilometers long
Vancouver, British
Columbia, April 19, 2023 – Québec Nickel
Corp. (CSE: QNI; FSE: 7lB; OTCQB: QNICF)
(“QNI” or the “Company“) is pleased to
report drilling at its Ducros Ni-Cu-PGE
project has returned long core lengths of
serpentinized ultramafic rocks, including
dunitic and peridotitic rock units. These
results, coupled with results from the
limited historical drilling completed in the
immediate area, suggest the Ducros Sill
represents a very large nickel-cobalt
exploration target very similar to
surrounding high-tonnage nickel-cobalt
projects in the Abitibi Greenstone Belt. The
company also provides a corporate update as
Richard Dufresne, nickel expert and current
director of QNI takes the helm as interim
CEO.
Highlights:
-
QNI has drilled a
fence of holes at the Ducros Sill target
which cuts across a wide magnetic high
feature representing the geophysical
expression of the serpentinized portion
of the ultramafic intrusion.
-
The fence of holes
was designed to follow-up on historical
drilling completed in 1987 which yielded
0.22% nickel and 120 ppm cobalt returned
from dunitic rocks occurring in the last
20 metres of an abandoned 107-metre-long
drill hole.
-
The three recently
completed holes encountered long core
intervals of variably serpentinized
dunite and peridotite, including an
almost 300-metre-long intersection in
hole QDG-23-505.
Ducros Sill
The Ducros Sill target
lies in the southern half of the two-kilometer
wide by ten-kilometer long Ducros Ultramafic
Sill Complex, in the south-central portion
of QNI’s Ducros property (Figure 1).
Historically, three widely spaced holes were
drilled at the Ducros Sill target by Abitibi
Resources Ltd. (“Abitibi”) in 1987 (Figure
2). Assessment report drill logs for these
holes describe variably serpentinized,
magnetic dunitic +/- pyroxenitic rocks with
occurrences of trace amounts of native
copper and brucite throughout their entire
drilled lengths (Quebec Government report GM
47268). Notable results include hole 87-6
which returned greater than 0.22% nickel and
120 ppm cobalt over the last 20 metres of
the 106.7 metre long BQ diameter hole before
being abandoned in bad ground.

Figure 1. Geology map
of Québec Nickel’s Ducros property (red
outline) showing the individual mining
claims that comprise the property land
package, along with the locations of the
Ni-Cu-PGE target areas. The regional geology
is sourced from the Government of Québec’s
online SIGEOM database.
Current Drill
Results
Québec Nickel completed a series of holes
this winter along an east-west fence
approximately 100 metres north of the
Abitibi hole 87-06 which cuts across the
entire 600-metre-wide magnetic high feature
(Figure 2). The ultramafic intrusion
responsible for the magnetic response is
understood to dip steeply to the west, as is
the case for most of the stratigraphy in
this part of the Ducros property.
Hole QDG-23-503 was collared on the west
side of the targeted magnetic high and was
drilled eastward at a dip of -45°, towards
the centre of the ultramafic intrusion
(Figure 2). The hole encountered a package
of intercalated mafic and ultramafic
intrusive rocks, including gabbro,
pyroxenite and dunite, from 23 to 308 metres
downhole depth before cutting a
142-metre-long interval of serpentinized
dunite, believed to be the same unit
encountered in hole 87-6 by Abitibi. The
hole remains in this lower dunite unit until
the planned end of hole at 450 metres depth.
Of note is the occurrence of native copper
on fracture surfaces within the altered
dunite unit (Figure 3).
Hole QDG-23-505 was collared approximately
210 metres east of QDG-23-503 and drilled
towards the east at a -45° dip to the
planned end of hole depth of 402 metres
(Figure 2). The hole collared in variably
serpentinized dunite at 21 metres hole depth
and remained in the altered ultramafic unit
until 314 metres, a 293-metre-long
intersection, where it encountered
metasedimentary basement rocks. The
ultramafic unit is cut by rare narrow <1.0m
to ~2.0-meter core length intermediate to
felsic dikes.
Hole QDG-23-504 was collared approximately
210 metres east of QDG-23-505 and was also
drilled towards the east at a -45° dip to a
depth of 243 metres (Figure 2). This hole
collared in variably serpentinized dunite
until 117 metres downhole depth, after which
it entered the package of metasedimentary
basement rocks.

Figure 2. Plan map of
the Ducros Sill target area showing the
locations of the historic Abitibi Resources
Ltd. drill holes (open symbols) and the
recently completed QNI drill holes (filled
symbols) overlain on top of the total
magnetic intensity image as derived from the
compiled/combined VTEMTM and drone magnetic
surveys completed in 2022.

Figure 3. Photograph of drill core from QNI
hole QDG-23-503 at 341.70 metres depth
showing abundant native copper on a fracture
plane within the serpentinized dunite unit.
NQ core, long axis of photograph is
approximately 2.5 cm.
The digital Québec government geology for
QNI’s Ducros project area, as sourced from
the SIGEOM database, indicates the
ultramafic intrusion in which the Ducros
Sill target is included spans from
approximately 500 metres north of the most
recent drilling to approximately five
kilometers to the south-southeast (Figures
1). Modelling of the VTEMTM and drone
magnetic data collected by QNI during its
2022 exploration program supports this
interpretation (Figure 4). There is no
record of this multi-kilometer-long magnetic
high feature being exposed at surface or
having ever been drilled beyond what Abitibi
Resources completed in 1987. If this
geophysical anomaly is an expression of a
serpentinized ultramafic/dunite intrusion,
as currently hypothesized, it would rival
the size of other high-profile large tonnage
nickel-cobalt projects currently being
advanced in the Abitibi Greenstone Belt.
Drill core from the three QNI holes referred
to above are being processed and samples are
being delivered to the preparation facility
in Val-d’Or on a regular basis. In addition,
representative half-core samples from each
of the drill holes have been sent for
quantitative analyses to determine the
abundances of nickel-bearing minerals such
as pentlandite, an iron-nickel sulphide
(Fe,Ni)9S8, heazlewoodite, a nickeliferous
sulphur-poor sulphide mineral (Ni3S2) and
awaruite, a nickel-iron alloy (Ni2Fe to
Ni3Fe). Awaruite and nickel-iron alloy are
typically formed during the serpentinization
of ultramafic rocks.

Figure 4. Plan map of the Ducros Sill target
area showing the locations of the historic
Abitibi Resources Ltd. drill holes (open
symbols) and the recently completed QNI
drill holes (filled symbols) overlain on top
of the total magnetic intensity image as
derived from the compiled/combined VTEMTM
and drone magnetic surveys completed in
2022. The postulated multi-kilometer Ducros
Sill Trend indicated.
This year, exploration drilling by the
Company has focussed exclusively on testing
targets that require winter conditions to
access and drill. Now that the spring thaw
is in full swing, work will resume at the
Fortin Sill Zone where ground conditions
allow for year-round access. Drilling at the
Fortin Sill Zone will follow-up on some of
the exceptional results achieved in 2022,
including from hole QDG-22-29, which
returned an 11.80 metre interval containing
1.44% Ni, 1.49% Cu, 461 ppm Co and 2.79 g/t
Pt-Pd-Au that includes a higher-grade
subinterval assaying 1.85% Ni, 1.65% Cu
(3.50% Ni + Cu), 576 ppm Co and 3.27 g/t
Pt-Pd-Au over 8.43 metres (see August 30,
2022 News Release for reference).
Core Processing & QAQC
Québec Nickel has implemented a quality
assurance and quality control (“QAQC”)
program for its drilling programs to ensure
best practices for logging, sampling and
analysis of its drill core as well as for
the collection and analyses of rock samples.
This includes the regular insertion of
geochemical blanks, duplicates and multiple
Ni-Cu-PGE-Au certified reference material
standards (CRMs) into the sample stream.
Drill core is collected by Ducros Project
personnel daily from the drill rigs and
transported in secured core boxes to QNI’s
core logging facilities in
Lebel-sur-Quévillon. Logging is completed on
laptops and data are captured using
fit-for-purpose computer software.
Core destined for geochemical analyses is
identified and labeled by core logging
geologists and is then sawed in half by a
diamond blade. One half of the NQ-diameter
core sample is placed in a labeled and
secured sample bag. The remaining half of
the core sample is returned to its core box
for archiving. All core samples are
transported from QNI’s logging facilities to
AGAT Laboratories’ sample preparation
facility in Val-d’Or in secured and numbered
rice bags by Project personnel.
AGAT Laboratories is accredited to the ISO/IEC
17025:2017 and ISO 9001:2015 standards.
Analysis for precious metals (gold,
platinum, and palladium) is completed by
Fire Assay with an ICP-OES finish while
analyses for nickel, copper and 41 other
elements are performed using AGAT’s 4 Acid
Digest – Metals Package, with an ICP-OES
finish.
Corporate Update
Québec Nickel is pleased to announce a
leadership transition within the company.
David Paterson, our current CEO, will be
stepping down and moving to Executive
Chairman and Director. Richard Dufresne will
be stepping in as interim CEO as we continue
the search for a new CEO to take us through
the coming growth stage.
Richard Dufresne is a seasoned mining
professional with over 35 years of
experience in the industry, with a strong
focus on nickel exploration. He has worked
with both major and junior companies and has
made significant contributions to the
industry throughout his career. During his
nine-year tenure with Falconbridge, he
played a key role in exploring and
developing the Raglan Nickel mine, which led
to its production decision in 1996. He then
spent five years overseeing nickel
exploration for eastern Canada at Anglo
American.
Mr. Dufresne’s expertise in nickel
exploration will undoubtedly be a valuable
asset to the company. We are confident that
he will be able to provide the leadership
and guidance needed to drive our exploration
efforts forward and deliver value to our
shareholders.
David Paterson has been instrumental in
bringing Québec Nickel to fruition. As
Executive Chairman and Director, he will
continue to provide valuable guidance and
support to the company.
“We are grateful for David’s leadership and
contributions to the company,” said Richard
Dufresne. “I look forward to working with
him in his new role as we continue to build
on the foundation that he has helped
establish.”
QUALIFIED PERSON
Gary DeSchutter, M.Sc., P.Geo.,
Vice-President of Exploration for Québec
Nickel Corp., and a Qualified Person (“QP”)
as defined under National Instrument 43-101
(“NI 43-101”), has reviewed, and approved
the scientific and technical content of this
press release.
ABOUT QUEBEC NICKEL CORP.
Québec Nickel Corp. is a mineral exploration
company focused on acquiring, exploring, and
developing critical metals (Ni-Cu-Co-PGE)
projects in Québec, Canada. The Company has
a 100% interest in the Ducros Property,
consisting of 282 contiguous mining claims
covering 15,293 hectares within the eastern
portion of the Abitibi Greenstone Belt in
Québec, Canada. Additional information about
Québec Nickel Corp. is available at
www.quebecnickel.com.
The CSE has neither approved nor disapproved
the contents of this news release. Neither
the CSE nor its Market Regulator (as that
term is defined in the policies of the CSE)
accepts responsibility for the adequacy or
accuracy of this release.
On behalf of the Board of Directors
David Patterson
Chief Executive Officer and Director
1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release includes certain
statements that may be deemed
“forward-looking statements”. All statements
in this news release, other than statements
of historical facts that address events or
developments that the Company expects to
occur, are forward-looking statements.
Forward-looking statements are statements
that are not historical facts and are
generally, but not always, identified by the
words “expects,” “plans,” “anticipates,”
“believes,” “intends,” “estimates,”
“projects,” “potential” and similar
expressions, or that events or conditions
“will,” “would,” “may,” “could” or “should”
occur. Although the Company believes the
expectations expressed in such
forward-looking statements are based on
reasonable assumptions, such statements are
not guarantees of future performance, and
actual results may differ materially from
those in the forward-looking statements.
Factors that could cause the results to
differ materially from those in
forward-looking statements include market
prices, continued availability of capital
and financing, and general economic, market,
or business conditions. Investors are
cautioned that such statements are not
guarantees of future performance and that
actual results or developments may differ
materially from those projected in the
forward-looking statements. Forward-looking
statements are based on the beliefs,
estimates, and opinions of the Company’s
management on the date the statements are
made. Except as required by applicable
securities laws, the Company undertakes no
obligation to update these forward-looking
statements if management’s beliefs,
estimates, opinions, or other factors should
change.
...click
here for full copy of news release from
source |
------ ------ ------
Ducros Gabbro
● Poorly exposed ~ 5 km X 5 km mafic intrusion largely inferred from
regional magnetic data.
● Interpreted to be emplaced along intersecting deep-seated regional
structures (regional magnetics).
● Magnetic data suggest the body is layered and/or multi-phased.
● Never drilled |