TORONTO, ONTARIO--(Marketwire - March 21, 2013) - Fletcher Nickel Inc. ("Fletcher") (CANADIAN UNLISTED BOARD:FL) announces results from the Phase 1 diamond drill program being conducted by Debut Diamonds Inc. on its Timmins South Property, located 50 km south of Timmins, Ontario.
Five holes were drilled for a total of 880 m on the Beavertail claim block, part of the Timmins South Property optioned from Fletcher Nickel Inc. (see press release dated October 23rd, 2012). Drilling targeted an 800 m long structural corridor with numerous chargeability anomalies associated with anomalous bedrock grab samples.
Drill holes TS13-01 through to TS13-04 intersected anomalous gold values associated with mineralized felsic to intermediate dykes and fuchsitic ultramafics that have been subjected to moderate to strong quartz and carbonate veining. Intensification of the fuchsite alteration increased in proximity to the felsic to intermediate dykes.
Drill hole TS13-05 did not intersect the IP target as planned due to possible faulting that has occurred in the immediate area which may have offset the stratigraphy.
A spring prospecting program is scheduled to commence in May that will follow up on assay results obtained from the 2012 fall prospecting program that returned values of up to 5.56 g/t gold in an area of very little outcrop exposure. Selective IP and magnetometer surveys will be integrated with the prospecting results to delineate future diamond drill targets.
The foregoing information may contain forward-looking statements relating to the future performance of Fletcher Nickel Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Fletcher Nickel Inc. plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Fletcher Nickel with securities regulators. Fletcher Nickel does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. We seek safe harbour.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.