09:54 AM EDT, 03/20/2017 (MT Newswires) -- North American Nickel (NAN.V) on Friday, March 17, filed its updated NI 43-101 report documenting its recent work on its 100% owned Maniitsoq property in southwest Greenland.

The report was prepared by SRK Consulting. Based on the review of the project, SRK concluded that the Maniitsoq project presents an "attractive exploration potential for nickel-copper-cobalt-PGM sulphide mineralization in a mining friendly, politically safe and stable jurisdiction." SRk added that the geological setting and character of the nickel-copper sulphide mineralization identified to date on the Maniitsoq property are of sufficient merit to justify additional exploration expenditures.

SRK Consulting recommends a work program that includes additional core drilling, geophysical surveying, geological mapping, and 3D modelling, primarily focussed on the Imiak Hill Complex and Fossilik areas where one ormore discrete sulphide zones have been defined by drilling, and where multiple exploration targets remain to

be tested. It is expected that the proposed work program should aid in determining whether any of the known nickel-copper sulphide mineralized targets have the potential to host a mineral deposit warranting delineation drilling and mineral resource evaluation. In addition to the above exploration activities, SRK recommends commencing activities

aimed at mitigating potential project risks by advancing social license studies and advancing baseline environmental work and generating hydro power potential data. The latter part of the proposed program is contingent on receiving a water shed prospecting license. The total cost of the recommended exploration program is estimated at $12.4 million and includes a 5% contingency. SRK said it is unaware of any significant factors and risks that may affect access, title, or the right, or ability,

North American Nickel's shares were recently down 0.625% at $0.0750, near their 52-week low of $0.06.

Price: 0.0750, Change: -0.005, Percent Change: -6.25