Thursday, 20 September 2007

Pure Nickel Quadruples Potential In Thompson Nickel Belt

Pure Nickel (NIC: TSX - PNCKF: OTCBB) has expanded its exploration potential in one of the most prolific nickel areas in the world. Pure Nickel signed a Joint Venture Agreement with the claim holder Exploration Syndicate. This JV fills in the gap on the Thompson Nickel Belt between its William Lake and Manibridge properties. It adds 160,000 hectares of prospective area and its licenses cover all of the new land acquired. This property is on a trend with, and adjacent to numerous high grade discoveries. Just 24 hours after announcing the company started a 43-101 technical report on the William Lake property it is apparent that NIC plans to focus heavily in this area.

Click here to read the news release.

Airborne geophysics was completed in 2006 with most of the data interpreted already giving it 9 drill ready locations to get at immediately. With the licensing and permits already in place over the entire area, work on the property can begin quickly.

It is worth noting that the claim holders took stock instead of cash for payment on this deal. Obviously they believe in NIC's management and expertise in developing the project. Other deals from many companies could have been made but owning stock in the premiere company Pure Nickel, that was priority.