Vancouver, British Columbia--(Newsfile Corp. - January 30, 2018) - Mr. William Jorgenson reports
HI HO SILVER RESOURCES INC., (CSE: HHS) (OTC: HHSRF) (Stuttgart: H9) INCREASES LAND PACKAGE ON THE NIK COBALT & NICKEL- PLATINUM AND COPPER-MOLYBDENUM PROPERTY LOCATED IN THE OMINECA MINING DISTRICT OF CENTRAL BRITISH COLUMBIA, CANADA
Hi Ho Silver Resources Inc. has expanded the land package on its NIK property prospective for both nickel-cobalt-platinum and copper-molybdenum, located in the Omineca mining district of central British Columbia, Canada. The NIK land package has been extended both north and south to cover possible extensions of both the geochemically anomalous nickel and cobalt zones, as well as covering the southern extension of the copper, molybdenum, and gold zones on the southwest flank of the nickeliferous mafic body. The property now covers 1,759.24 hectares. Road access is available to the property and power lines are located within 10 miles of the property
The NIK prospect covers an intrusive ultramafic unit that is strongly anomalous in nickel, cobalt and platinum to a level in soil and rock rubble samples that approximate the metal levels in a major nickel-cobalt resource in similar rocks of the Turnagain mafic complex of Giga Metals to the north. For the NIK prospect mafic rocks of Alaskan-type geochemical values from surface gossanous material are: Nickel 1,800 parts per million, cobalt 153 ppm and platinum 2,200 parts per billion. Exploration is warranted for potentially economic deposits of these metals.
Within British Columbia a number of nickel-cobalt-platinum deposits and nickel prospects have been gaining attention in recent exploration programs. This brings the nickel-cobalt-platinum potential to the forefront in a part of the world not generally known for deposits of this type. Both bulk tonnage low grade nickel-cobalt-platinum and high grade deposits are known within the belt.
The Garibaldi nickel-copper deposit in northern BC is topical at the present with excellent high grade nickel-copper intersections and significant market action. The Nickel Creek platinum-palladium large bulk tonnage deposit in the southern Yukon Territory is being further explored currently. As referenced above the very large bulk tonnage Giga Metals nickel-cobalt deposit east of Dease Lake is also under review for potential development.
Significant underground "high grade" production occurred at the Giant Nickel Mine near Hope, BC, from 1937 to 1958 with total production from 4.7 million tonnes of ore containing 59 million pounds of nickel and 28 million pounds of copper. Much of this production was at grades of 1.38 to 5% nickel.
The NIK property also covers a broad area prospective for copper and molybdenum in the surrounding acidic and "granitic" intrusives, based on 17 diamond drill holes drilled by BP in 1973, that encountered significant long intervals of both copper and molybdenum mineralization. Among the better intersections are: hole No. 8 a zone of 230 feet assaying 0.21 per Cent Copper, 0.02 per cent molybdenum; hole No. 7, 50 feet of 0.44 per cent copper and 0.019 per cent molybdenum, 50 feet of 0.18 per cent copper and 0.023 per cent molybdenum, and 50 feet of 0.14 per cent copper and 0.006 per cent molybdenum; hole No. 6 returned 140 feet of 0.13 per cent copper and 0.002 per cent molybdenum; hole No. 2 returned 100 feet of 0.3 per cent copper.
Multiple bulk tonnage copper-gold-molybdenum deposits in the central portion of British Columbia have been the subject of exploration and re-evaluation during recent and current exploration activity. A review of all geological and geophysical data will be undertaken, and a review of the potential for deep-penetrating geophysical tests is part of the proposed program.
Anomalous gold has also been encountered in grab samples from the property, and in several re-assays of drill core samples conducted as follow up from the original BP exploration procedure.
Exploration potential for the NIK property is believed to be substantial. There are no established reserves or resources on the property, and it will require exploration and redevelopment work and sampling to establish any resource or reserve. There can be no assurance that a resource can be established, or if established that such will be economically recoverable.
About Hi Ho Silver Resources Inc.
Hi Ho Silver Resources is a Vancouver-based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
This press release has been reviewed and approved by Dr. Stewart Jackson, PGeo., a qualified person and technical adviser to Hi Ho.
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Chief Executive Officer
Hi Ho Silver Resources Inc.