Somanike Project TDEM Geophysical Anomalies Drill Test Program

TORONTO - Class 1 Nickel and Technologies Ltd. second drilling permit has consequently expanded the drill program at its Somanike Nickel-Copper-Cobalt PGEs Project, located near Val-d’Or, Quebec (Canada). Two diamond drills are currently active on the Marbridge Property. Approximately 13,706m in 35 drill holes have been drilled to date. Assays are pending and are expected early in 2023.

Diamond drilling has intersected sulphide mineralization in 18 drill holes. Mineralization is within and, in close proximity to ultramafic rocks. The host rocks are komatiitic flows and can be correlated with the horizons in the mine sequences at Mine 1, Mine 2, Mine 3 and Mine 4. Assays are pending. Drilling has confirmed that Mine 1 is in a separate stratigraphic sequence from the other mined areas. While Mine 2, Mine 3 and Mine 4 are within the same sequence, Mine 4 is at a different stratigraphic level. Down hole time domain (BHEM) geophysical surveys on holes drilled to date have identified multiple off-hole anomalies for follow up. Drone mag and LIDAR has been completed over the main Marbridge area.

The famous Marbridge Mine, which was the first nickel sulphide producing mine in Quebec, has not been seriously drill tested in more than five decades and has not been assessed by modern geophysical technologies capable of detecting magmatic sulphide deposits.

David Fitch, President & CEO, said, “We are very pleased to have completed comprehensive drilling both below and adjacent to the four historical mines at Marbridge. The application of modern borehole geophysics has successfully demonstrated its viability in targeting sulphide mineralization. We know from the drilling to date that we are in a very fertile geological environment with abundant ultramafic rocks that host nickel mineralization at the historical Marbridge deposits.”