Thursday, 31 March 2011

Pure Nickel's Partner a Month Away From Decision on MAN Alaska

Pure Nickel (TSX: NIC)

Basic Shares: 67.8 million
Fully Diluted: 75.5 million

Pure Nickel shared news today that its partner ITOCHU will make its formal decision to continue vesting into the company's MAN project in Alaska within a month.

Pure Nickel and its partner ITOCHU, which have spent $14 million on the property since 2008 to earn 30%, have been exploring MAN to find a large nickel deposit. After detailed analysis of over 3,400 core samples the companies now realize that MAN hosts a stratiform Platinum Group Element (PGE) "horizon" along with high grade nickel-copper massive sulphide.