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Re: News Release - Thursday, March 25, 2010
Nanika Acquires Additional Ground at Stewart British Columbia
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March 25, 2010 - Vancouver, British Columbia: Nanika Resources Inc.
(TSX-V: NKA and FSE: C7X) today announces that it has acquired a 100%
interest in 1,614 additional acres (654 hectares) comprised of four
mineral tenures that are in the area of Nanika's existing Indi and
other Stewart, British Columbia area claims. The claims are known as
Big Gold, Silver Bank, Silver Bank South, and a claim adjacent to
Nanika's Indi South claim that is as yet unnamed. Please see the Nanika
website for a map of the claims at www.nanikaresources.com .
Nanika's President and CEO, James Jacuta, stated that, "Nanika is not
alone in our enthusiasm for the potential of gold and silver resources
around Stewart BC. Adding to Nanika's quality properties in the Stewart
area increases our potential value as the company believes this area
will gain prominence in the future".
Nanika's existing Indi 9 to 12 claims in the Stewart area are part of a
recently amended Silver Coin Preliminary Economic Assessment Report
that was filed by Pinnacle Mines Ltd. on www.sedar.com on March 16,
2010. The report includes a NI 43-101 compliant Mineral Resource
Calculation.
The report states that the Silver Coin project has a Measured and
Indicated Resource of 944,000 ounces of gold, and 5,217,000 ounces of
silver, and 132,420 pounds zinc using a cutoff grade of 0.30 grams per
tonne and 24,708,000 tonnes. Nanika's Indi 9 to 12 claims are part of
the eastern edge of Silver Coin. These four Indi claims are part of a
joint venture agreement between Nanika, Pinnacle Mines Ltd. (TSX-V:
PNL) and Mountain Boy Minerals Ltd. (TSX-V: MTB). The Silver Coin
project comprises 26 claims in total, the remaining 22 of which are
part of a joint venture between Pinnacle and Mountain Boy themselves.
The report states that the Indi 9 claim has a Measured and Indicated
Resource of 20,000 ounces of gold, and 134,000 ounces of silver, and
3,015 pounds of zinc using a cutoff of 0.30 grams per tonne and 692,000
tonnes. Inferred Resources on the Indi 9 claim are reported as 130,000
ounces of gold, and 1,274,000 ounces of silver, and 34,497 pounds of
zinc using a cutoff of 0.30 grams per tonne and 5,260,000 tonnes. The
Preliminary Economic Assessment study notes that it is preliminary in
nature and there is no certainty that economic results can be achieved.
Nanika has reported by news release its 2009 drill results on Indi 9
that have not been utilized in the amended Preliminary Economic
assessment filed by Pinnacle on March 16, 2010 that was originally
published on December 30, 2009. Nanika's 2009 program on Indi 9
consisted of seven diamond drill holes totalling 1,038 metres of
drilling. Significant results were reported that included a 3.05 metre
interval of 14.30 grams per tonne of gold in hole 09-311, and a 3.05
meter interval of 226.2 grams per tonne of silver in hole 09-315.
Please see Nanika's news release dated November 30, 2009.
Nanika's President and CEO, James Jacuta, added that "I am looking
forward to the coming discussions that Nanika will be having with
Pinnacle on plans for Indi 9."
Alex Walus, P. Geo., a qualified person under National Instrument
43-101, has reviewed and approved the technical disclosure in 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
To receive Company news via email please contact chelsea@chfir.com and
mention "Nanika Resources News" in the subject line.
For further information contact:
CHF Investor Relations at 416-868-1079
Christopher Haldane, Account Manager, at ext. 237, chris@chfir.com
Jeanny So, Director of Operations, at ext. 225, jeanny@chfir.com
Or Nanika Resources Inc. at 604-638-0699 or Toll Free at 1-866-580-0699
http://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.
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Copyright (c) 2010 NANIKA RESOURCES INC. (NKA) All rights reserved.
For more information visit our website at
http://www.nanikaresources.com/ or send mailto:info@nanikaresources.com
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Nanika Resources Incorporation
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EXPLORATEUR |
CODE : NKA.V |
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CUSIP : 630018109 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Nanika resources Inc est une société d’exploration minière d'argent et d'or basée au Canada. Nanika resources Inc détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont TED, MOLY KING PROPERTY, SCEPTRE AND TIARA, INDI, MUNN LAKE, SWEENEY LAKE, CAMSELL LAKE, LAC DE GRAS, LUCKY SHIP, MAC CLAIMS, VERNON et NWT CLAIMS au Canada. Nanika resources Inc est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 945 530 CA$ (931 725 US$, 752 554 €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,23 CA$, et son plus bas niveau récent le 05 juillet 2012 à 0,01 CA$. Nanika resources Inc possède 94 553 000 actions en circulation. |