Dundee Capital Markets Report: North American Nickel

Symbols NAN.V / WSCRF

Excellent Grades in Assays Persist

Results from 2012-2013 drill campaigns include significant intercepts of Ni-Cu sulphides. The most recent release includes an intercept of 10m grading 4.65% Ni and 0.36% Cu, which, while not representative of true width, is an excellent indicator of the economic potential of the conduits that are being drilled. The intercept is shallow and contained within a broader zone of 55.8m grading 1.28% Ni and 0.36% Cu from 57.75 to 113.50m down hole. On conversion, based on current nickel prices (a depressed $7/lb), this intercept equates to 0.5-0.6oz/t gold, which is exceptional.