Monday, 20 December 2010

Santa Delivers Gold Through Pure Nickel's Tower Property


Pure Nickel
(TSX: NIC)(OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 75.5
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Pure Nickel and its option partner, Rockcliff Resources (TSX-V:RCR) have announced that drilling at Pure Nickel's Tower Property in central Manitoba has been completed. The final drilling continued to hit high grade copper-gold mineralization and found a new high-grade gold vein. Rockcliff can earn up to a 70% interest in this property.

Following up from holes 1 and 2 released November 10th and holes 3-5 on November 26th, hole 6 released today continued intersecting multiple zones of sulphides containing significant grades of both copper and gold. A new gold vein was also discovered in hole 6 and it intersected grades of 27.4 grams per tonne (g/t) of gold, 31.4 g/t of silver, 1.3% copper and 0.86% zinc.

The target the companies are collectively after is known as the Tower Copper-Gold Zone, a multi-zoned system rich in copper, gold, zinc and silver. This is an extensive sheet of sulphides with a minimum strike length of 700m and a minimum vertical depth of 700m and remains open in all directions.

Rockcliff President Ken Laprierre stated "Our first drill program at Tower has intersected consistent high grade copper-gold mineralization of the Tower Zone and has now discovered additional mineralization in the form of a high grade gold-copper vein. The discovery of additional metal-rich zones confirms our belief that the Tower Property has significant upside potential to host multiple extensive zones of sulphides containing significant grades in both copper and gold. We will continue our efforts in the NewYear at Tower where a major drill program is planned."

See full news release here..........