AGORACOM News Flash

AGORACOM WIRE - FRIDAY MAY 25TH, 2012

FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc.

Aim to develop and manufacture the best technology graphite in the world
Additional shareholder value will come from investment in commercialized graphene through joint venture partner, Grafoid Inc.

Read More | *SPONSOR

INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More

AGORACOM Maintenance Alert: Friday Evening Downtime for About an Hour Read More

LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013 Read More | *SPONSOR

Message: Drilling Intersects High-Grade Nickel, Copper and PGE Mineralization

Clavis

Rank: [?]

President

Points: [?]

23987

Rating: [?]

Votes: 222 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Drilling Intersects High-Grade Nickel, Copper and PGE Mineralization

posted on Jan 22, 09 07:35AM

January 22, 2009

Canadian Royalties/Nunavik Nickel Project Puimajuq Update: Drilling Intersects High-Grade Nickel, Copper and PGE Mineralization

MONTREAL, QUEBEC--(Marketwire - Jan. 22, 2009) - Canadian Royalties Inc. (TSX:CZZ) (the "Company") reports composite assay results from seventeen (17) new drillholes from the 2008 delineation drill program at its recently discovered and 100% owned Puimajuq deposit. Significant widths of high-grade mineralization were returned from nine (9) near-surface holes including NF-08-10, which returned mineralization over 39.80 metres grading 1.51% Nickel, 4.72% Copper, 11.81 g/t Platinum and 25.79 g/t Palladium. This interval includes 8.35 metres of high-grade massive sulphides that graded 3.63% Nickel, 4.57% Copper, 1.47 g/t Platinum and 2.57 g/t Palladium plus an additional 8.60 metre interval of spectacular high-grade massive sulphide mineralization that ran 1.94% Nickel, 14.63% Copper, 52.05 g/t Platinum and 108.83 g/t Palladium.

Composite assays and collar locations for all 2008 drilling at Puimajuq are reported in the tables below.

Table 1 - Puimajuq Composite Assays

Hole            From      To  Width     Ni    Cu    Pt     Pd
Number            (m)     (m)    (m)    (%)   (%) (g/t)  (g/t)
-------------------------------------------------------------
NF-08-09       26.00   34.10   8.10   1.23  3.37  0.51   1.49
incl.          26.00   31.20   5.20   1.80  3.95  0.58   1.05
-------------------------------------------------------------
NF-08-10       14.95   54.75  39.80   1.51  4.72 11.81  25.79
incl.          15.65   24.00   8.35   3.63  4.57  1.47   2.57
and            24.00   32.60   8.60   1.94 14.63 52.05 108.83
-------------------------------------------------------------
NF-08-11       25.45   50.00  24.55   2.76  3.81  1.54   3.01
incl.          25.45   41.15  15.70   3.43  2.80  1.93   4.09
and            45.10   50.00   4.90   2.63  9.43  1.32   1.07
-------------------------------------------------------------
NF-08-12       66.00   69.90   3.90   1.83  2.74  0.38   2.41
and            75.25   79.90   4.65   0.65  0.80  0.30   1.51
-------------------------------------------------------------
NF-08-13       38.00   50.80  12.80   2.41  3.99  1.44   9.85
-------------------------------------------------------------
NF-08-14       51.50   53.85   2.35   2.72  2.48  0.91   1.57
-------------------------------------------------------------

NF-08-15       28.40   35.85   7.45   2.84  1.81  0.89   1.67
incl.          31.05   35.85   4.80   3.81  2.27  1.11   2.05
-------------------------------------------------------------
NF-08-16       52.40   54.40   2.00   0.39  0.33  0.27   1.18
-------------------------------------------------------------
NF-08-17       15.00   26.40  11.40   0.56  0.98  0.37   1.57
-------------------------------------------------------------
NF-08-18       24.80   32.80   8.00   0.59  0.95  0.30   1.40
and            36.00   42.85   6.85   0.38  0.47  0.13   0.95
-------------------------------------------------------------
NF-08-19                               No significant results
-------------------------------------------------------------
NF-08-20                               No significant results
-------------------------------------------------------------
NF-08-21                               No significant results
-------------------------------------------------------------
NF-08-22                               No significant results
-------------------------------------------------------------
NF-08-23       49.75   63.00  13.25   1.45  2.27  0.68   2.12
incl.          53.20   60.00   6.80   2.30  2.97  0.95   3.02
-------------------------------------------------------------
NF-08-24       42.55   44.85   2.30   3.88  4.76  1.05   1.74
-------------------------------------------------------------
NF-08-25                               No significant results
-------------------------------------------------------------

Sulphide mineralization at Puimajuq is hosted within a near-vertically dipping pyroxenite dyke having a more or less regular shape. The mineralization is generally tabular and vertically dipping but certain drillholes indicate an irregular bulbous thickening close to surface on at least three 25 metre spaced sections. Given the magmatic nature of the mineralization, true widths are difficult to determine but are believed to range from between 60 and 70 percent of the reported composite core widths.

Table 2 - Puimajuq Drillhole Locations

Hole         Easting   Northing  Azimuth   Dip    Final Depth
Number      (UTM NAD83, Zone 18)      (o)   (o)            (m)
-------------------------------------------------------------
NF-08-09     602778E   6827670N    360.0   -46          75.00
NF-08-10     602778E   6827669N    360.0   -60          90.00
NF-08-11     602754E   6827658N    360.0   -45          75.00
NF-08-12     602754E   6827658N    360.0   -63         117.00
NF-08-13     602802E   6827705N    180.0   -45          72.00
NF-08-14     602802E   6827706N    180.0   -68          75.00
NF-08-15     602703E   6827705N    180.0   -45          60.00
NF-08-16     602703E   6827705N    180.0   -69         102.00
NF-08-17     602677E   6827666N    360.0   -45          66.00
NF-08-18     602677E   6827665N    360.0   -64          90.00
NF-08-19     602828E   6827661N    360.0   -51          93.00
NF-08-20     602678E   6827600N    360.0   -62         240.00
NF-08-21     602755E   6827675N    360.0   -45          42.00
NF-08-22     602755E   6827674N    360.0   -49          19.00
NF-08-23     602757E   6827728N    180.0   -45          75.00
NF-08-24     602803E   6827657N    360.0   -45          66.00
NF-08-25     602828E   6827681N    360.0   -50          45.00
-------------------------------------------------------------

Discovered during the 2007 campaign, Puimajuq is located approximately 7.4 kilometres east of the Allammaq deposit on the 100% Canadian Royalties-owned New Foreurs East property. The delineation of the Puimajuq deposit comprised one of the Company's 2008 exploration objectives and these drill results suggest near-surface resource potential. The Company is currently planning to initiate a resource estimate during the course of 2009. Puimajuq's eventual integration in an updated mine plan is an objective that will depend upon the demonstration of its economic viability.

Sampling and Assays

Core samples are either split or sawn on-site, individually sealed in bags and shipped off-site on a regular basis to the ALS Chemex laboratory in Val d'Or, Quebec for sample preparation. Analyses are performed at the ALS Chemex laboratory in Vancouver, British Columbia. Base metal analyses including Nickel and Copper are determined by sodium peroxide fusion with ICP-AES analysis. Platinum, Palladium and Gold analyses are determined by fire assay and ICP-AES finish. The Company quality control (QA/QC) program includes regular insertions of blanks and standards. Reported values are uncut and composite intervals are reported as length along the core axis. Below detection limit assays are considered zero values when calculating composites for release purposes.

Qualified Persons

W. Grant Arnold (P.Geo.), Vice-president Exploration for Canadian Royalties Inc., is a Qualified Person in accordance with National Instrument (NI) 43-101, and is responsible for the geological information presented in this news release.

About Canadian Royalties and the Nunavik Nickel Project

Canadian Royalties has identified Indicated resources totalling 19,437,000 tonnes grading 0.97% Ni, 1.18% Cu, 0.56 g/t Pt, and 2.27 g/t Pd, in addition to 4,102,000 tonnes of Inferred resources at its Nunavik Nickel Project, located 20 kilometres south of Xstrata Nickel's Raglan Mine in Nunavik, Quebec. Canadian Royalties has received its Environmental Certificate of Authorization and Mine Leases for the Expo, Mesamax, Ivakkak and Mequillon sites.