Tuesday, 3 June 2008

William Lake Reveals Treasures

Pure Nickel (TSX: NIC)

Basic Shares: 67.8 million

Fully Diluted: 92.4
A significant mineralized zone at William Lake appeared after the assay lab examined the remaining seven core samples from Pure Nickel's winter drilling program.

William Lake is in the southern portion of the Thompson Nickel Belt (TNB), which is renowned for its high nickel content. Pure Nickel has seen comparable mineralization in William Lake that is typical of the trend in the TNB.

This is the first ore grade discovery of nickel in the southern part of the belt allowing shareholders a chance to breathe a little easier.

The company has extensively surveyed the property including the area where the winter drilling took place. That survey and these promising core samples shows there could be a very sizable deposit with 700 meters of strike length still untested north of the winter drilling area.
There are more tests being done on the core samples to further prove the value of the dirt in the area with special attention to the platinum group elements contained therein. Typically, there is a high value attached to this kind of mineralization taking into consideration the nickel and other valuable metals that are usually found from drill cores like this.

Pure Nickel will have to do more drilling to prove the size and value of this deposit but it knows that 0.45% nickel content in large tonnage means that William Lake has the potential to be a successful open pit mine.

See full news release.......