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Québec Nickel Corp Drills Possible Extension of the Fortin Sill Zone at Depth

Pyrrhotite + chalcopyrite mineralization similar to that seen in Fortin Sill Zone drilling

VANCOUVER, British Columbia, October 19, 2022--(BUSINESS WIRE)--Québec Nickel Corp. (CSE: QNI; FSE: 7lB; OTCQB: QNICF) ("QNI" or the "Company") is pleased to announce it has expanded the known sulphide mineralization at the Fortin Sill Zone, Ducros Project, located approximately 80 kilometres northeast of Val-d’Or, Québec.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221019005299/en/

Figure 1. Plan map showing the locations of selected drill holes completed at the Fortin Sill Zone in relation to the Fortin Sill discovery outcrop. Location of ultramafic intrusion-hosted nickel-copper mineralization within hole QDG-22-38 highlighted. (Graphic: Business Wire)

Highlights:

  • The new mineralized drill intercepts occur below and to the southwest of the currently known extents of the Fortin Sill Zone

  • Sulphides occur as coarse pyrrhotite + chalcopyrite blebs within chlorite-altered pyroxenites and gabbronorites and resemble the mineralization encountered in hole QDG-22-09 earlier this year

New Sulphide Drill Intercepts

Hole QDG-22-38, a 201-metre-long hole drilled from the northeast side of the Fortin Sill outcrop (240° azimuth, -45° dip), was designed to explore for extensions of the Fortin Sill Zone and/or new mineralized intrusions (Figure 1 & 2). The hole collared in variably chlorite-altered and sulphide-mineralized gabbronorites and pyroxenites until approximately 41 metres hole depth. Between ~41 metres and ~ 132 metres, the hole cored through a mixed package of intercalated metabasalt and metasedimentary units before passing into a variably sulphide mineralized and chlorite-altered ultramafic intrusive body of gabbronorite to pyroxenitic affinity between 132 metres and 199 metres hole depth. Within this ultramafic unit, sulphides occur between 148-162 metres and 178-183 metres as patchy fine disseminations, thin stringers (1-3 mm wide) and as coarse blebs of pyrrhotite + chalcopyrite of up to 2 cm in size (Figure 3). The abundance, composition and texture of the sulphides in this portion of QDG-22-38 appear very similar to the mineralization encountered in hole QDG-22-09 earlier this year (Figure 3). As previously reported, assay results from hole QDG-22-09 returned a 31 metres-wide intercept averaging 0.37% Ni, 0.40% Cu and 0.55 g/t Pt-Pd-Au that includes higher grade sub-intervals of 0.44% Ni, 0.51% Cu and 0.69 g/t Pt-Pd-Au over 18.50 and 0.55% Ni, 0.86% Cu and 0.86 g/t Pt-Pd-Au over 5.0 metres (see May 16, 2022 News Release for more information).

The sulphide-bearing ultramafic unit encountered in QDG-22-38 occurs approximately 60 metres below and 50 metres to the southwest of the currently known extents of the Fortin Sill Ni-Cu-PGE Zone (Figures 1 & 2). Core samples from QDG-22-38 are at the assay lab and results will be released when received. Additional drill holes are being planned from existing permitted drill pads to further define this possible extension of the Fortin Sill Zone.

Core and Rock Processing & QAQC

Québec Nickel has implemented a quality assurance and quality control ("QAQC") program for its Ducros Project to ensure best practices for logging, sampling and analysis of its drill core as well as for the collection and analyses of rock samples. This includes the regular insertion of geochemical blanks, duplicates and multiple Ni-Cu-PGE-Au certified reference material standards (CRMs) into the sample stream.

Drill core is collected by Ducros Project personnel daily from the drill rigs and transported in secured core boxes to QNI’s core logging facility in Val d’Or. Logging is completed on laptops and data are captured using fit-for-purpose computer software.

Core destined for geochemical analyses is identified and labeled by core logging geologists and is then sawed in half by a diamond blade. One half of the NQ-diameter core sample is placed in a labeled and secured sample bag. The remaining half of the core sample is returned to its core box for archiving. All core samples are transported from QNI’s logging facility to AGAT Laboratories’ sample preparation facility in Val-d’Or in secured and numbered rice bags by project personnel.

AGAT Laboratories is accredited to the ISO/IEC 17025:2017 and ISO 9001:2015 standards. Analysis for precious metals (gold, platinum, and palladium) is completed by Fire Assay with an ICP-OES finish while analyses for nickel, copper, and 41 other elements are performed using AGAT’s 4 Acid Digest – Metals Package, with an ICP-OES finish.

QUALIFIED PERSON

Gary DeSchutter, M.Sc., P.Geo., Vice-President of Exploration for Québec Nickel Corp., and a Qualified Person ("QP") as defined under National Instrument 43-101 ("NI 43-101"), has reviewed and approved the scientific and technical content of this news release.

ABOUT QUEBEC NICKEL CORP.

Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing nickel projects in Québec, Canada. The Company owns a 100% interest in the Ducros Property, consisting of 280 contiguous mining claims covering 15,147 hectares within the eastern portion of the Abitibi Greenstone Belt in Québec, Canada. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors

David Patterson
Chief Executive Officer and Director

1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors should change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221019005299/en/

Contacts

David Patterson
Chief Executive Officer and Director
1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com