Thursday, 21 February 2008

Pure Nickel Joint Venture Accelerates Drilling In Thompson Nickel Belt

Pure Nickel (TSX: NIC) (OTCBB: PNCKF)

The Thompson Nickel Belt in Manitoba is one of the richest nickel areas in the world and Pure Nickel strategically has accumulated the largest land position in the area. The red area on this map highlights Pure Nickels land holdings.

Pure Nickel had a 43-101 technical report completed in November 2007 which gave the company all of the past drilling results from its predecessors. Armed with these accurate and proven results, Pure Nickel has determined its priority drill targets.

One of the key areas of interest is the Tower Property where past drill results had assays of up to 5.3% copper and 22 g/t of gold. With results of that merit it became a priority for the company to drill further to define the potential of this area.

In order to accelerate its drilling program in this prolific area, Pure Nickel has taken on a partner. A joint venture has been signed with Rockcliff Resources Inc. in which Rockcliff can earn up to 70% interest on the Tower property drilling at least 2 thousand metres in year one and spending a minimum of $2 million within the first two years in exploration.

Rockcliff (TSX-V: RCR) is an exploration company with properties in Manitoba close to the Tower property as well as in Ontario. The company is currently trading at around $0.75 with recent highs of $1.23.

Click here to read the press release.

With multiple targets in the Thompson Nickel Belt being drilled this year it should only be a matter of time before shareholders see an increased value in NIC.