Québec Nickel completes 2023 exploration programs at its Ducros nickel-copper-PGE project – LeLézard.com

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Quebec Nickel Corp. (CSE: QNI ; FSE: 7 pounds ; OTCQB: QNICF) (“IMQ“or the”Pursue“) announces the completion of its exploration programs in 2023 on its 100% owned Ducros property, located 85 kilometers northeast of Val-d’Or, Quebec.

Summary of 2023 work programs and results:

  • Nearly 18,000 meters of drilling in 50 holes on the Ducros property

  • A preliminary metallurgical study of nickel-copper GP sulfides in the Fortin Sill area

  • Discovery of several large ultramafic intrusions with nickel-cobalt mineralization

  • Numerous new nickel-copper GP targets have been identified through artificial intelligence targeting study

  • Start of the work project on basic environmental studies

David Patterson, President and CEO of QNI, said: I would like to congratulate and thank the Ducros project team for completing so much work throughout the year. Between the unusually mild winter at the beginning of the year and the two-month work stoppage in the summer due to unprecedented wildfires in this part of Quebec, it has not been easy to complete our work programs this year. I am convinced that the results of the extensive work of the last two years have laid the foundation for Ducros’ continued success.

Diamond exploration drilling 2023

The 2023 drilling program tested a broad range of potential nickel-copper GP targets throughout the Ducros property. A total of 17,815 meters were completed in 50 drill holes across multiple targets including the Ducros Ultramafic Sill Complex (DUSC), the Ducros Sill Trend, the Q Zone target and the broader Fortin Sill area. It should be noted that, as previously announced, two significant ultramafic intrusions containing nickel-cobalt mineralization were discovered earlier this year in the Ducros Sill Trend and the Q Target Area (see press releases dated July 12, 2023 for further information). and September 12, 2023). Information).

Drilling in the Fortin Sill area began in April with the completion of four shallow holes on the main nickel-copper-GP outcrop. These HQ diameter drill holes provided the necessary materials for a preliminary metallurgical testing program for sulfides from the Fortin Sill Zone. After work resumed following disruptions in the summer of 2023 due to forest fires, drilling at Fortin Sill resumed in August. The objective of the program was to explore additional nickel-copper GP sulfides at regular intervals along strike of the main mineralized zone. A total of eight drill holes totaling 5,883 meters were completed over approximately 1.2 kilometers along the presumed strike of the Fortin Sill Zone. In four of the longer holes, downhole electromagnetic geophysical surveys were conducted to locate sulfide-related conductors. Although these new holes encountered mafic and ultramafic intrusive rocks up to 750 meters from the Fortin Sill zone, no new nickel-copper-GP mineralization was identified in this new hole.

metallurgical investigation of the Fortin Sill area

As discussed in the Company’s press release dated May 10, 2023, SGS Canada has been engaged to conduct a preliminary assessment of the suitability of the Fortin Sill area for the production of marketable critical metal concentrates. A total of 150 kilograms of mineralized Ni-Cu-Co-GP-Au from HQ diameter drill core was collected and delivered to the SGS laboratory in Quebec City for assay. The scope of the work program includes a bond grindability test using a ball mill, flotation test work, solids and liquid separation tests and environmental analysis. As of this press release, the testing program is approximately 95% complete and delivery of results and interpretation report is expected in the coming weeks.

AI-based targeting project

In October 2023, QNI released the results of an AI-powered nickel-copper GP targeting operation covering the entire Ducros property, conducted by ALS GoldSpot Discoveries Ltd. was carried out. (ALSGoldSpot). The results of this study highlight the identification of more than ten new and untested nickel sulfide targets distributed throughout the Ducros property (see press release dated October 3, 2023, Figure 1 for further details). The unique geological and geophysical footprint of the Fortin Sill nickel-copper-GP deposit was used to drive ALS GoldSpot’s AI-based SmartTARGETTM targeting algorithms.

In parallel with the AI-based targeting project, ALS GoldSpot conducted a lithostructural reinterpretation of the Ducros property. This new geological interpretation is expected to significantly enhance the Company’s exploration efforts going forward and enable future work programs to target the most prospective nickel-copper GP targets within the vast Ducros property covering more than 15,000 hectares focus.

basic environmental studies

In March 2023, Qubec Nickel commissioned Metric Environmental of Saint-Laurent, Quebec to prepare a baseline hydrological and biological characterization of the Ducros property and surrounding properties owned by QNI. Working with its partner, T2 Environment of McMasterville, Quebec, BluMetric’s technical teams conducted two separate site visits during the 2023 field campaign to obtain the samples and data required for the study. The results of this first year’s work will be summarized in a final report, due early next year, which will serve as a basis for future monitoring work and fundamental environmental studies.

Other exploration work

In addition to the work summarized above, the Company completed additional studies during the year that provided a much deeper understanding of the geology of the Ducros property and led to the development of new nickel targets – prospective copper?GP. As examples of these other studies, we can cite the semi-automated detailed petrographic characterization of 33 core samples collected during the 2022 and 2023 exploration drilling campaigns. Carried out by the company IOS Services Geoscientifiques Inc. (IOS) from the city of Saguenay, Quebec. This work is based on the petrography work of IOS and uses micro-XRF technology. It was completed in 2022 by the University of British Columbia’s Mineral Deposits Research Unit.

In addition, more than 500 additional samples were collected during the 2023 field campaign in the Fortin Sill area to follow up the positive results of a 2022 biochemical orientation survey conducted on almost the entire Ducros property. Samples were collected in a network of lines 50 x 50 meters apart, oriented northwest to southeast, covering an area approximately 2.5 kilometers long and 750 meters wide. This also included the exposure of the surface of the Fortin Sill Zone and its presumed lateral extent. The results of the 2022 and 2023 biochemical analyzes were integrated into the AI-powered targeting exercise conducted by ALS GoldSpot. Significant biochemical anomalies coincident with the Fortin Sill Zone are highlighted, as well as additional anomalies along the interpreted outcrop of the zone in areas that remain to be verified by drilling.

About Qubec Nickel Corp.

Quebec Nickel Corp. is a mining exploration company focused on the acquisition, exploration and development of critical metals (Ni-Cu-Co-GP) projects in Quebec, Canada. The Company owns a 100% interest in the Ducros Property, which consists of 282 contiguous mineral claims covering 15,293 hectares in the eastern portion of the Abitibi Greenstone Belt in Quebec, Canada. For more information about Qubec Nickel Corp, please visit www.quebecnickel.com.

Qualified person

Gary DeSchutter, M.Sc., P.Geo., Vice President of Exploration at Qubec Nickel Corp. and Qualified Person (“QP”) as defined by National Instrument 43-101, has reviewed the scientific content and approved technical aspects of this press release.

The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulatory Authority (as that term is defined in the policies of the CSE) accepts any responsibility for the relevance or accuracy of this press release.

WARNINGS AND FORWARD-LOOKING DISCLAIMERS

This press release contains statements that may be deemed “forward-looking statements.” All statements contained in this press release, other than statements of historical fact, that address anticipated events or developments of the Company, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of the words “expects”, “plans”, “anticipates”, “believes”, “currently” and “intends”, “Estimates,” “projects,” “potential,” and other similar expressions, or that events or conditions “will,” “may,” or “should” occur. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those reflected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, the continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those anticipated in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of management as of the date such statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates and opinions change or if other factors should change.

The text of the press release resulting from a translation should in no way be considered official. The only authentic version of the Communiqué is the Communiqué in its original language. The translation must always be compared with the source text, which establishes the case law.

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