Royal Nickel Subsidiary Finds High-grade Gold Mineralization

Royal Nickel Corp. (TSX:RNX) announced that True North Nickel Inc., its 68-percent-owned subsidiary, has discovered a new high-grade gold, silver, copper and zinc mineralized trend at its Quebec-based Qiqavik project.
As quoted in the press release:

High grade gold mineralization was found during the 2015 exploration season with several grab samples ranging from 5 g/tonne up to 198 g/tonne over 15km of strike length, with several outcropping areas also containing high grade silver, copper and zinc, representing a potentially important new discovery in an underexplored volcano-sedimentary belt within the Cape Smith Belt.

Mark Selby, president and CEO of Royal Nickel, commented:

These very positive prospecting results at Qiqavik, together with historic drilling by Falconbridge Limited during the mid-1990’s, leads us to believe that this relatively unexplored region of Northern Quebec has the potential to host important new gold and copper deposits. TNN’s advantageous land position in this emerging mineral belt has given it a unique opportunity to acquire some of the most prospective ground in the Cape Smith Belt for its new Qiqavik Project in one of the best mining jurisdictions in the world. Both Qiqavik and West Raglan could represent major discoveries in this underexplored, emerging polymetallic belt, which is comparable in scale to the Kambalda-Kalgoorlie camp of Western Australia, and home to the world class Raglan Mine. We will be looking for opportunities to fund exploration in 2016 through our TNN subsidiary which will be non-dilutive to RNC.

Click here to read the full Royal Nickel Corp. (TSX:RNX) press release.