Maniitsoq Project Sulphide Hosted Nickel Copper Cobalt & Precious Group Metals Southwest Greenland 100% Owned Company Presentation, May 2014

Transcription

1 1 Maniitsoq Project Sulphide Hosted Nickel Copper Cobalt & Precious Group Metals Southwest Greenland 100% Owned Company Presentation, May 2014

2 Forward Looking Statements: TSX-V : NAN Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. North American Nickel undertakes no obligation to update such forwardlooking statements if circumstances or management s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements. 2

3 North American Nickel: Overview Acquired the (Sudbury Basin sized) Maniitsoq property in Greenland in August, 2011; 100% owned High grade nickel sulphide mineralization (locally over 7% nickel at Imiak Hill) intersected in 2013 drilling Over +200 conductive target zones identified through Helicopter EM (VTEM) geophysical surveys Extensive prospective belt (15km x 75km) hosting mineralized intrusions within a large meteor impact structure $11M invested to date; Cash position today $5.8M VMS Ventures holds 23.9% of NAN shares Sentient Group holds 41% of NAN shares (the Sentient Group manages over $2.7B in quality metal, mineral and energy assets across the globe.) CAPITAL STRUCTURE (as at May, 2014) Issued & Outstanding: 141,070,701 Warrants: ($ $1.00) 25,137,027 Options: 7,887,500 Fully Diluted: 174,095, Week High/Low $0.47/$0.12 YTD Performance 106% Current Price $0.36 Market Cap $50 million 3

4 Nickel Supply/Demand: In Our Favor The Nickel market is likely to face large deficits in 2nd half of this decade only a doubling of NPI output could balance it (difficult given Indonesian ore constraints combined with Chinese cost pressures) Nickel prices, as in , will likely have to rise to force demand in line with available supply. China is going to need 1+ MILLION tonnes more nickel annually during this decade and ROW will also need more. Supply response will be structurally insufficient as current projects under construction only provide half this requirement (at best, as many are struggling) and project cupboard is largely empty underpinned by 35+ years of underdevelopment. Courtesy of Royal Nickel Presentation, Jakarta 4

5 Location Maniitsoq harbour looking east towards the Maniitsoq project on the mainland Located on the southwest coast of Greenland, which is pack ice free year-round. Maniitsoq s mild climate allows for all year round mining & shipping of concentrate. Greenland is a democratic, pro-mining country with a transparent regulatory system, competitive mining tax regime and no land claims issues. 5

6 Property Greenland s capital, Nuuk, is 30 minutes by helicopter and provides European standard coastal re-supply and logistics facilities 4 to 6 hours shipping time to Maniitsoq coastline. Maniitsoq is a greenfields nickel sulphide exploration project with valuable by-products. NAN owns 100% of Maniitsoq via two contiguous exclusive mineral exploration licences covering 3,601 km 2. Maniitsoq has the scale and the potential metal endowment to be the world s next nickel sulphide province. 6

7 Project Geology Nickeliferous Noritic Intrusions Concentrated in a 75 x 15 km curvilinear belt known as the Greenland Norite Belt. Range in size from small dykes and plugs to elongated bodies covering up to 8 km 2. (Fossilik intrusion, new discovery Sept. 26, 2013). Hybridized margins and xenoliths of partially resorbed country rock are common. Believed to represent open ended magma conduits. 7

8 Norite Intrusions Distinct Appearance Rounded hills covered with brownish-grey, often rusty, coarse gravel. Multi-phase: compositions range from quartz diorite, through norite, to lherzolite. Gabbronorite is most common. Magmatic and cumulus textures often well preserved. Locally pyroxenes are partially or completely replaced by hornblende. Post Kinematic Massive, little or no foliation except at margins. Contacts often crosscut country rock foliation. 8

9 Sulphide Mineralization Consists of monoclinic pyrrhotite, pentlandite, chalcopyrite and pyrite. Often coarse-grained. Likely to produce a clean concentrate. Inclusion-bearing sulphide (i.e. solid sulphide matrix with fragments of host rock) is a common texture. Disseminated, blebby, net texture and vein sulphides are also common. 9

10 Deposit Model Potential Sulphide Accumulation Sites in a Magma Conduit Mantle melting in response to a giant impact. Hot ultramafic magma flows to surface through a conduit system comprised of restricted conduits and larger magma chambers. Hot magma assimilates country rock (locally sulphidic) resulting in sulphur saturation and production of a sulphide liquid. Ni+Cu+Co±PGE sulphide collects in zones of lower velocity within the conduit system. Continual magma flow upgrades the nickel tenor of sulphide already deposited. Magmatism eventually ceases and conduit system is preserved as noritic rock. Over time, uplift and erosion expose parts of the magma conduit system and some of the Ni+Cu+Co±PGE sulphides. J. Mungall, Ni Short Course Fig 4 Modified after Maier et al.,

11 Historical Work Kryolitselskabet Øresund, 1962 to 1973: extensive mapping, prospecting defining the trend and shallow diamond drilling (average hole length <55 m), no subsurface geophysical modelling to orientate drilling but some success: Fossilik II: % Ni and 0.63% Cu Cominco & Falconbridge, 1993 to 2000: Cominco flies extensive fixed wing time domain EM unsuited to undulating terrain and hampered by flight path. Falconbridge completed surface magnetic and EM surveys, plus extensive high quality re-analysis of historical core that confirmed historical high-grade assays and establish Maniitsoq nickel tenor. Neither Cominco nor Falconbridge did any drilling. 11

12 Ni vs. S for Historical GNB Drill Core Nickel Tenor The Nickel Calculator Nickel tenor is the amount of nickel in pure sulphide and it tends to be consistent on a deposit scale. Falconbridge studied core from 119 drill holes around the entire 75km Greenland Norite Belt. The norite hosted sulphides have a remarkably consistent nickel tenor of 6 to 8% Ni recalculated to 100% sulphide. 12

13 Maniitsoq Project 2011 / 2012: Laying the Groundwork North American Nickel Inc. TSX-V: NAN 13

14 Helicopter TDEM New Technology in an Old Camp Total of 5,746 line-kilometers of helicopter borne SkyTEM / VTEM covering approximately 860km 2 mainly focused on the Greenland Norite Belt (GNB) but small survey also flown over the Pingo showing (about 15 km to the northwest of the GNB). Nominal flight line spacing of 200 to 100 meters conductive zones recognized to date. Map shows total magnetic intensity reduced to pole and electromagnetic anomaly picks over the GNB. The resulting identified conductors are 3 dimensionally modeled, providing low risk sub surface drill targets that returned significant drill intercepts. 14

15 2012 Drill Program 1,551 METERS in 9 HOLES in 3 AREAS Spotty Hill VTEM conductor P-55 tested intercepts: m at 0.81% Ni, 0.21% Cu and 0.03% Co incl m at 1.75% Ni, 0.34% Cu and 0.06% Co Imiak Hill VTEM Conductor P-54 tested intercepts: m at 0.98% Ni, 0.44% Cu and 0.04% Co incl m at 1.36% Ni, 0.52% Cu and 0.05% Co Fossilik II VTEM conductors P-58 & P-59 tested: Anomalous mineralization and off hole BHEM conductors (future drill target: see Sept. 26, 2013 results) 15

16 Mass (% Ni) Maniitsoq Ni-Cu-Co-PGM Project Nickel Deportment - QEMSCAN Pentlandite is the main nickelbearing mineral and contains 95.5 to 96.3% of all the nickel in the samples. Legend Total potentially floatable pentlandite ranges from 96.3 to 97.6%. Pyrrhotite hosts 2.71 to 4.03% of the nickel. Silicates host < 1% of the nickel. Elemental Deportment (Mass % Ni) Sample 16

17 North American Nickel Inc. TSX-V: NAN 17 Maniitsoq Project 2013: Confirmation and Discovery

18 2013 Drill Program Results released to date: 25 holes totaling 4,266 meters completed. Four significant intersections at Imiak Hill (Aug 23, Sept 4 and Nov 5 news releases). New zone of near solid to solid sulphides intersected at Imiak North (Sept 12 and Oct 23 news releases). Fossilik: Potential for tonnage, 9km from Imiak Hill (Sept 26, 2013 news release). Spotty Hill: additional disseminated mineralization intersected (October 23 news release). Recognition of the Imiak Hill Conduit Complex IMIAK HILL IMIAK NORTH SPOTTY HILL 18

19 Imiak Hill Conduit Complex (IHCC) 12 km 2 area at north end of the Greenland Norite Belt. Three mineralized norites within a 2 km radius Imiak Hill Imiak North Spotty Hill Only 25 km from nearest tide water at Kangia Fjord. 19

20 Imiak Hill Conduit Complex: 3 Mineralized Intrusions 20

21 Imiak Hill Longitudinal Section 2013: Oct. 10, 2013 News MQ (Zone 10) 10.33m 1.10% Ni, 0.38% Cu MQ (Zone 30) 8.68m 1.53% Ni, 0.43% Cu MQ (Zone 30) 14.90m 2.67% Ni, 0.39% Cu MQ (Zone 30) 25.51m 3.25% Ni, 0.48% Cu MQ (Zone 30) 24.75m 3.19% Ni, 1.14% Cu NAN s 2013 drilling has intersected Zones 10 and 30 at depth. Deepest intersection is 185m vertically below surface. Zone 30 sulphide mineralization is increasing in intensity with depth. MQ : 8.68m 1.53% Ni, 0.43% Cu, 0.06% Co MQ : 14.90m 2.67% Ni, 0.39% Cu, 0.09% Co MQ : 25.51m 3.25% Ni, 0.48% Cu, 0.11% Co Incl m 4.31% Ni, 0.62% Cu, 0.14% Co MQ : m 3.19% Ni, 1.14% Cu, 0.11% Co Incl m 3.80% Ni, 1.42% Cu, 0.13% Co And 2.40 m 4.44% Ni, 1.13% Cu, 0.15% Co BHEM response is also increasing with depth. Open at depth. *Estimated true width is shown in brackets 21

22 Imiak North Discovery Assay Results % Ni, 0.36% Cu, 0.04%Co, 0.06 g/t TPM Incl % Ni, 0.33% Cu, 0.13% Co, 0.14 g/t TPM % Ni, 0.20% Cu, 0.01%Co, 0.04 g/t TPM Incl % Ni, 0.31% Cu, 0.01% Co, 0.07 g/t TPM 22

23 Spotty Hill 2012 DISCOVERY: m of high grade sulphides in hole MQ m of anomalous mineralization in MQ ADDITIONAL DRILLING: MQ Collared 53 m southeast of MQ Intersected m grading 0.68% Ni, 0.28% Cu, 0.02% Co and 0.32 g/t TPM. Including 2.07 m assaying 2.03% Ni, 0.11% Cu, 0.07% Co and 0.78 g/t TPM % Ni, 0.21% Cu, 0.03% Co, 0.26 g/t PGM Incl % Ni, 0.34% Cu, 0.06% Co, 0.52 g/t PGM Incl % Ni, 0.21% Cu, 0.07% Co, 0.60 g/t PGM Significant 2012 Drill intersections from Spotty Hill 23

24 Fossilik Area: Additional Tonnage Potential for IHCC Within 10 km of the IHCC New discovery: MQ Two historical occurrences with grades up to 2.24% Ni and 0.63% Cu plus a new discovery in hole MQ Hole MQ zones of disseminated mineralization: 0.59% Ni, 0.18% Cu, 0.21 g/t TPM* Incl. 1.06% Ni, 0.23% Cu, 0.33 g/t TPM* 0.24% Ni, 0.11% Cu, 0.16 g/t TPM* Incl. 0.42% Ni, 0.15% Cu, 0.27 g/t TPM* 0.26% Ni, 0.15% Cu, 0.12 g/t TPM* *TPM = total precious metals (Pt+Pd+Au) 24

25 Maniitsoq Project 2014 Plan: Surface Geophysics, Outlining Tonnage at IHCC, Exploration Drilling of Priority Targets North American Nickel Inc. TSX-V: NAN 25

26 Summary Of Work To Date: What s Possible NAN holds exclusive rights to explore the area containing the Greenland Norite Belt and Maniitsoq Impact Structure and all significant associated nickel sulphide occurrences and significant occurrences of nickel mineralization in the area. Three intrusions, comprising the Imiak Hill Conduit Complex (IHCC) with significant, high grade sulphide mineralization now identified. Additional mineralized norites within 10 km of the IHCC creating the potential for an initial mining complex. Sudbury camp sized,100% owned property with many unexplored and underexplored areas creating the potential for multiple deposits Program Mid-April: Ground geophysical crews commence surveying the IHCC area for deep conductors to target with drilling. June 2014: Focused drilling to build tonnage and further define mineralized zones at IHCC. Drill test priority regional targets across the belt. 26

27 NAN Management Rick Mark, M.Ed (Admin) CEO & Chairman NAN: Rick has over 25 years experience in the public market place. He is also CEO & Chairman of VMS Ventures Inc. (VMS-TSX.V). Over the last eight years, Rick and the group have raised more than $75 million for exploration and development activities. Neil Richardson P. Geo. COO, NAN: Neil has a long history of mineral exploration and mining experience with Hudbay Minerals and others. As the COO of both companies, Neil is responsible for creating and implementing exploration and development programs. Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. President & Director NAN: Mark has 35 years of industry and government experience, including Chief Geologist of the Mineral Deposits Section in Manitoba. He is a recipient of the Canadian national award for outstanding geoscientific achievement. John Pattison, P. Geo., B.Sc. Chief Geologist NAN: John worked with Falconbridge Limited and associated companies for 19 years managing base metal, PGE and gold exploration projects throughout Canada and southern Africa. He has led the Maniitsoq Project since its inception at NAN in Jim Sparling, P. Geo., B.Sc., MBA Project Manager NAN: Jim has worked for over 25 years in the exploration industry, most recently as COO for Skyline Gold and Exploration Manager for StrataGold, He is the principal geologist for the Maniitsoq Project in Greenland.

28 Independent Directors & Advisory Boards Independent Directors Gilbert Clark, Director, NAN: Mr. Clark is a European based Geologist with more than 13 years of industry experience; principally in mining and international resource developments. He is currently an Investment Advisor with The Sentient Group, an independent private equity investment firm specializing in the global resources industry. Jim Clucas, Director & Audit Committee Member, NAN: Jim was Chief Financial Officer of Inco s Canadian operations and has been involved in the development of several mineral deposits, including the Snow Lake Mine (High River Gold Mines), Montana Tunnels (Pegasus Mining) and the Fenix Project in Guatemala. He was the founder of International Nickel Ventures Inc. which acquired and developed the Santa Fe/Ipora Nickel Laterite deposit in Brazil. Jim is currently President and CEO of Search Minerals. Advisory Board Dr. Tony Naldrett: Tony is an internationally recognized expert in the field of nickel sulphide mineralization and was Professor of Geology at the University of Toronto from 1967 to He has authored or co-authored over 240 refereed papers and 8 books and has supervised 15 M.Sc. and 16 Ph.D. students and 15 Postdoctoral Fellows with focus on magmatic nickel, copper and platinum-group element sulphide deposits, worldwide. Mr. Alex Balogh: Alex is the former Chairman and CEO of Falconbridge Ltd., Deputy Chairman of Noranda Inc. and CEO of Noranda Minerals Inc. He has served as Chairman and Director for various mining organizations, sits on The Sentient Council and is a current member of the Advisory Board of Hatch Associates. Mr. Balogh is a metallurgical engineer and has more than 40 years of experience in the mining and metallurgical industry. Dr. James M. Patterson, P.Geo., Ph.D., Technical Advisor: James is the former Geological Consultant, Vice President Exploration and VP & Executive Consultant with FNX Mining Company Inc. He was instrumental in the revival and building of the company from a market capitalization of $20 million to $2.5 billion. Dr. Patterson has over 40 years experience in mineral exploration globally. Dr. Patterson received his Ph.D. Mining Geology from the University of London, England, Diploma of Imperial College from Imperial College, London, England, BA (Honours) in Natural Sciences Geology from Trinity College, University of Dublin, Ireland, and has over 25 publications on mineral exploration.

29 Why Own NAN?: Is It The World s Next Nickel Sulphide Camp? Investor Risk Mitigation: These boxes are already ticked Greenland is a secure political jurisdiction supported by pro-mining government; Access to ice free tide water, 12 month of the year: Moderate climate Significant historic exploration data and drill core analyzed and interpreted by NAN Maniitsoq s geology is exemplary for district scale nickel potential: Abundance of Ni-Cu sulphide occurrences at surface & in drilling; High Nickel tenor consistent across 75KM belt Major, long lived structures Large-scale mafic igneous event QEMSCAN testing suggests excellent recoveries expected Modern helicopter terrain hugging surveys optimal for Maniitsoq s topography and mineralization immediate success >200 EM anomalies Low cost power potential, (hydro electricity generation) and near by access to deep water shipping Management has a discovery track record; NAN has a strategic investor: The Sentient Group; owns 41% (VMS Owns 23.9%) 29