=======================================================================
Re: News Release - Thursday, October 08, 2009
Nanika Commences Drilling on Indi Property North of Stewart,
British Columbia.
=======================================================================
October 8, 2009 Nanika Resources Inc. ("Nanika") (TSXV:NKA, FSE:C7X)
announces a drill program on the Indi property approximately 24
kilometers north of Stewart, British Columbia with a minimum drilling
budget to provide for a 1000 meter drill program. "More Core Diamond
Drilling Services Ltd." of Prince George, British Columbia has been
contracted to begin work immediately. The work will be supervised by
Alex Walus, Professional Geologist, who was formerly with Pinnacle
Mines Ltd. Mr. Walus has identified two targets for immediate drilling
on the northeast portion of the Indi claims.
The property is directly contiguous to the Silver Coin property of
Pinnacle Mines Ltd. (TSXV:PNL) who by news release on October 2, 2009
updated a National Instrument 43-101-compliant resource of: "488,202
ounces of gold in the measured and indicated category and 1,000,499
ounces of gold in the inferred category at an average grade of 2.317
grams per tonne (g/t) and 6,179,000 ounces of silver (grade 7.49 g/t)
at cut-off grade of 0.75 g/t."
Nanika's President and CEO commented that: "The Nanika work program is
in the competent hands of Alex Walus who has several years experience
in this area, I am very happy to have Alex working with us."
Alex Walus, P. Geo., a qualified person under National Instrument
43-101, has reviewed and approved the technical content of this news
release.
About Nanika Resources Inc. Nanika Resources Inc. is a TSX Venture
listed mineral exploration and development company focusing on the
advancement of its mineral properties, all of which are located within
Canada.
On Behalf of the Board
James D. Jacuta, Chairman, President and CEO.
For further information contact: Matthew Emery or Douglas Kerr
Telephone: 604-638-0699 Toll Free: 1-866-580-0699
www.nanikaresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada (IIROC) accepts responsibility for the adequacy
or accuracy of this release.
=======================================================================
Copyright (c) 2009 NANIKA RESOURCES INC. (NKA) All rights reserved.
For more information visit our website at
http://www.nanikaresources.com/ or send mailto:info@nanikaresources.com
=======================================================================
.
<
|
Nanika Resources Incorporation
|
|
EXPLORATION STAGE |
CODE : NKA.V |
|
CUSIP : 630018109 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nanika resources Inc is a silver and gold exploration company based in Canada. Nanika resources Inc holds various exploration projects in Canada. Its main exploration properties are TED, MOLY KING PROPERTY, SCEPTRE AND TIARA, INDI, MUNN LAKE, SWEENEY LAKE, CAMSELL LAKE, LAC DE GRAS, LUCKY SHIP, MAC CLAIMS, VERNON and NWT CLAIMS in Canada. Nanika resources Inc is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 945 530 as of today (US$ 931 725, € 752 554). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.23, and its lowest recent point on July 05, 2012 at CA$ 0.01. Nanika resources Inc has 94 553 000 shares outstanding. |