Tuesday, 8 June 2010

Pure Nickel - The Drills Are Turning At MAN Alaska

Pure Nickel
(TSX: NIC)(OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 75.5


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After an enormous amount of preparation and analysis, it's now up to science, Mother nature and a sprinkling of luck that will determine how this season will be assessed with the drills now turning at Pure Nickel's most ambitious project, MAN, Alaska. Today's announcement that up to 8 thousand metres will be drilled over the next several months sets the stage for what hopefully will be attention grabbing assay results later this fall. Two rigs will be working on the big targets; the Alpha and Beta complexes.

Pure Nickel's project partner ITOCHU upped this year's spending at MAN to US$7.5 million from US$4 million based on an encouraging 2009 drill season.
Drilling should wind up in mid to late September.

MAN has grabbed the majority of attention but Pure Nickel has many other properties in its arsenal. The gold bug that is gripping global markets is not lost on Pure Nickel as it will be directing some spending to its Rainbow claims in Nunavut. New claims have been added bringing the company's holdings there to 200 square kilometres.

Past drilling had proven up over 13 grams of gold per tonne from a hole that was originally being drilled for nickel mineralization. Grab samples taken from Rainbow have assayed 26.5 grams per tonne of gold and the company now believes this recently expanded property is worth a much closer look.

Plans for further exploration will be announced in the near future.