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HPM

Overview

The 100%-owned HPM property is located between Baie-Comeau and Fermont, Québec, about 20 kilometres from an all-season road connecting the two communities. The property is associated with the Manicouagan Metamorphic Complex and hosts several nickel-copper cobalt occurrences.

History

Active exploration for Nickel-Copper in the Haut-Plateau de la Manicouagan has been ongoing since the 1960’s. More than 100 Ni-Cu +/- Co, PGE have been documented in the Quebec part of the Grenville Province and in adjacent Labrador. These occurrences are mainly associated with mafic and ultramafic rocks, and anorthositic intrusives that have a wide range of ages and occur in various tectonic settings.

The HPM Property is located on the Haut-Plateau de la Manicouagan Region, within the Allotochtonous Belt of the Grenville Province. Active exploration for nickel and copper in the Haut-Plateau de la Manicouagan has been ongoing since the late 1970’s.

From 1991 to 1992, Falconbridge completed a helicopter borne EM survey over the central part of the area totaling 1,000-line km. This led to the implementation of reconnaissance mapping and litho-geochemical sampling programs over the entire granulite complex in order to understand the geological environment of the Manicouagan Complex.

From 1999 to 2002 exploration included UTEM and THEM surveys and 2,903 metres of drilling. Occurrences are mainly associated with mafic and ultramafic rocks, and anorthositic intrusives that have a wide range of ages and occur in various tectonic settings. In 1999, reconnaissance exploration by Falconbridge led to the discovery of several nickel-copper-cobalt occurrences in the Haut-Plateau de la Manicouagan including the Barre de Fer prospect as well as the PYC showing.

Most of the nickel-copper-cobalt sulphide showings found to date on the Property, while displaying some primary magmatic features/textures, appear to be at least in part structurally controlled or remobilized. Two notable Canadian examples of nickel-copper mineralization exhibiting similar characteristics are the Montcalm and Lynn Lake Ni-Cu deposits, which are interpreted to have been tectonically emplaced into their current locations from a predominantly pyroxenitic host during the late stages of consolidation.

In October 2007, PNI entered into an option agreement with Manicouagan Minerals Inc. (now Murchison Minerals Ltd.) granting the Company the right to earn up to 70% interest in the properties. In November 2009, the Company completed the required exploration and payments in earned its 50% interest in the Property.

In 2008, the Company completed an exploration program which included an airborne EM and magnetic (AeroTEM II) survey, follow-up ground HLEM and magnetometer surveys, ground prospecting and a 3,388-metre drill program. 17 diamond drill holes were completed.

Drilling at Barre de Fer was successful in extending the known nickel-copper-cobalt mineralization for approximately 300 metres along strike and to a depth of about 280 metres. The mineralization remains open at depth and partially along strike. The best intercept from the 2008 drilling at Barre de Fer was from hole HPM-08-03 which intersected 43.15 metres grading 1.74% Ni, 0.90% Co and 904 ppm Co.

Limited ground follow-up of priority airborne EM targets lead to the discovery of several new sulphide occurrences (Syrah, Muscat and Pinot among others).  Several other priority airborne EM targets on the HPM claims remain to be followed-up.

Ownership

Murchison acquired Pure Nickel’s 50% interest in February 2019 and now owns 100% of the HPM project

Note: Glencore retains certain rights with respect to the mining claims including (i) a 2% NSR on each property (the Company has the right to reacquire 1% thereof for C$1,000,000); (ii) off-take and marketing rights for all concentrate or product produced from the properties; and (iii) a onetime back-in right to 50% for any mining project with an economic threshold of 15,000,000 tonnes of resources unless such right has been previously exercised in respect of another property that was part of the Xstrata - Pure Nickel original transaction.

Location

HPM Ni-Cu-Co land package is located south of the Petit-Lac-Manicouagan (a water reservoir that feeds the Hydro-Quebec’s Hart-Jaune hydroelectric complex) at approximately 275 km NNE of Baie-Comeau and 135 km south of Fermont (Figure 1). These cities are linked by the all-weather Provincial Road 389 (PR-389), that goes through the closed iron mining town of Gagnonville, where the paved airstrip is still in condition. Manicouagan has established a base camp, Petit-Manic camp, on the south shore of the Petit-Lac-Manicouagan, some 2 km east of the Québec-Cartier ‘Love’ camp (railway maintenance). Petit-Manic camp is accessible by gravel road that connect the camp area to PR-389. Distance from Petit-Manic camp to HPM property is about 30km, to PR-389 (km390) is about 40km, and to Gagnonville airstrip is about 50km.

Elevation in the area ranges from 1,815 to 3,250 feet.  The property lies on two 1 : 50 000 scale NTS map sheets, namely : 22O/11 and 12.  The terrain is characterized by a series of rounded summits showing tundra type vegetation. Taiga type vegetation occurs in the valley bottoms. Black spruce and other conifers of various sizes are present between the barren summits and valley bottoms. Hydrographically, the area is sculpted by numerous small lakes and is dissected by many linear streams and rivers.

Geology & Mineralization

The Manicouagan metamorphic complex is mostly composed of granulitic gabbro, orthogneiss and paragneiss intruded by gabbroic, ultramafic and anorthositic bodies. Regional metamorphism is in the granulitic facies with local retrogression to the upper amphibolite facies. The known mineralization is associated with gabbroic intrusions called the Toulnustouc massif (Forgues & Petit Lac Manicouagan area) and Gabbro East (Haut-Plateau Est area) intrusion that host the nickel prospects discovered by Falconbridge.

The most interesting known Ni-Cu sulphide mineralization found on the property appears to be associated with those late intrusives lithologies. The property is associated with the Manicouagan Metamorphic Complex and partly underlain by the Gabbro Est intrusive. The two main historical prospects are Barre de Fer and PYC. Drilling at Barre de Fer returned 1.74% nickel, 0.90% copper, and 904 ppm cobalt over 43.2 metres. Surface grab samples from the PYC showing returned 0.59% nickel and 0.93% copper and a single drill hole intersected 15.3 metres of disseminated to semi-massive sulphides grading 0.28% nickel, 0.14% copper and 626 ppm cobalt.

Most of the nickel-copper-cobalt sulphide showings found on the property to date, while displaying some primary magmatic features/textures, appear to be at least partly structurally controlled or remobilized. Two Canadian examples of nickel-copper mineralization exhibiting similar characteristics are the Montcalm deposit near Timmins, Ontario and the Lynn Lake Ni-Cu deposit in northern Manitoba. They are interpreted to have been tectonically emplaced from a predominantly pyroxenitic host during the late stages of consolidation.

Project Status

Murchison is completing a desktop compilation of the available technical data to identify targets and plan a ground exploration program.

Presentation

HPM Project Presentation

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