NORTH AMERICAN
INC
MANIITSOQ
Ni-CuNICKEL
PROJECT
TSX V: NAN
THE MANIITSOQ
Ni-Cu-PGE PROJECT
Southwest Greenland
October, 2012
Slide 1
Forward-Looking Statements
NOTE:
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 Inc. 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.
Slide 2
Capital Structure
Listing
NAN:TSX.V
Issued and Outstanding:
Cash Value
77,280,193
VMS Owns
(21,825,000)
Sentient Owns
(20,000,000)
@ $0.10 expire Dec. 28,2012
5,480,000
$0.6M
@ $0.35 expire Nov. 24, 2012
VMS Owns
11,243,950
5,000,025
$3.9M
@ $0.21 Owned by Sentient
10,000,000
$2.1M
@ $0.50, $0.70, & $1.00
12,960,000
$9.0M
7,633,000
$1.3M
124,597,143
$22M
Warrants:
Greenland Warrants
Options
Fully Diluted
Cash Position
52 Week High/Low
$1.2M
$0.090 – $0.30
Slide 3
Directors & Management
Rick Mark, M.Ed (Admin) - CEO & Chairman: Rick has over 23 years experience in the public market
place. He is also the CEO & Chair of VMS Ventures Inc. (VMS:TSX.V), and Harvest Gold Corporation
(HVG-TSX.V), a December 2005 "spin off" from VMS, and is the President and CEO of Pancontinental
Uranium Corp. (PUC-TSX.V).
John Pattison, P. Geo., B.Sc. – Chief Geologist: John has extensive experience in base metal
exploration, in particular, nickel sulphide deposits. His career extends from the nickel camps of Canada
to southern Africa. From 1983 to 2002, John worked with Falconbridge Limited and associated companies
where he was responsible for managing base metal, PGE and gold exploration projects throughout
Canada and southern Africa.
Neil Richardson, P. Geo., COO: Neil received his Geological Engineering Technical Diploma from
Cambrian College in Sudbury and has a long history of mineral exploration and mining experience with
HudBay Minerals and a host of junior explorers including Murgor Resources. Neil is the Chief Operating
Officer for VMS Ventures and is responsible for developing and implementing exploration programs in the
Flin Flon-Snow Lake area
Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. – President & Director: Mark has 34
years of industry and government experience as an exploration geochemist and mineral deposits
geologist. He was the Chief Geologist of the Mineral Deposits Section in Manitoba. In 2001, Mark was the
recipient of the Provincial Geologists Medal, a Canadian national award for outstanding geoscientific
achievement. He is also the Vice President of Exploration and Technical Services of VMS Ventures Inc.
Slide 4
Advisors
John Rowntree, Hons B.Sc., FAusIMM, CIMM: John Rowntree has 46 years experience in the
minerals exploration industry. He has been a founding director of several public exploration companies
and has been responsible for property acquisition and for directing exploration leading to the discovery of
economic gold, tantalum, uranium, platinum, copper/gold and TVM iron deposits in Australia and
Greenland.
John Ferguson, Ph.D., D.Sc., FAusIMM & Life Fellow Geological Soc. S. Africa: John Ferguson has
been involved in the minerals industry, academia and four geological surveys for the past 50 years. He
has conducted extensive exploration activities in several continents particularly focusing on gold, base
metals, platinum group elements, iron ores, uranium, rare earth elements & diamonds. He has held
positions as founding director of publicly listed companies, Professor/Reader at the University of the
Witwatersrand and Division Head/Acting Director at the Bureau of Mineral Resources Geology &
Geophysics, Canberra (now Geoscience Australia). Other survey appointments include working for the
Greenland Geological Survey and as a NRC Fellow at the Geological Survey of Canada. He was
responsible for the discovery of the platinum group metals resource at Munni Munni, Western Australia as
well as the discovery of kimberlites and industrial minerals in southern Africa and Greenland.
Slide 5
Advisors
James M. Patterson B.A., D.I.C., Ph.D., P. Geo.: Jim has over 40 years experience in mineral
exploration in Canada, Ireland, SE Asia and South America working with major and junior exploration
companies, government and international development agencies. He was formerly with FNX Mining
Company Inc. where he was Geological Consultant (2001-2002), Vice President Exploration (2002-2005)
and VP & Executive Consultant (2005-2006).
Cashel Meagher B.Sc. P. Geo.: Cashel is currently Vice President Exploration of HudBay Minerals. He
has worked with the technical and management teams at VMS Ventures and North American Nickel
through the Reed Lake joint venture with VMS. Prior to joining HudBay, Mr. Meagher held management
positions with Vale Inco in exploration, technical services, and mine operations.
Walter Peredery Ph.D. P.Geo.: Walter has more than 40 years experience in nickel-copper-PGE
exploration in the Sudbury Basin as well as the Thompson Nickel Belt in Manitoba. Dr. Peredery is a
recognized expert in the geology and ore deposits of the Sudbury mining camp. He is the author of the
qualifying N.I. 43-101 report for North American Nickel. Dr. Peredery’s accomplishments include coauthoring of the impact theory of the Sudbury igneous complex which is recognized around the world as
the definitive work on the Sudbury basin.`
Mike Muzylowski: Mike Muzylowski, Callinan Mines Ltd. (CAA-TSX.V) accomplished President and
CEO, has played key roles in the discovery of 15 Canadian mines, 13 in Manitoba, during his
distinguished career as a geologist, geophysicist and senior mining executive.
Slide 6
MANIITSOQ PROJECT, GREENLAND
Maniitsoq (looking east towards the project area)
100% interest in a giant property
covering 4,983 km2 of the highly
prospective, but underexplored,
Greenland Norite Belt.
Located on tide water (navigable yearround) on the southwest coast of
Greenland, near the village of
Maniitsoq.
Maniitsoq Project
A World Class Nickel Camp?
• Underexplored (previous hole lengths averaged < 60 m) but lots of
high-grade historical assays (e.g. 9.85 m @ 2.67% Ni and 0.60%
Cu).
• Strong evidence of a large-scale, long lived mafic igneous event.
• Major, deep seated structures that were active from the Archean
through to the Mesozoic.
• Intrusions hosting the mineralization appear to have been part of a
dynamic magma conduit system.
• Proof that modern helicopter geophysical technology is significantly
more effective in this rugged terrain than techniques used in the
past.
• Over 70 conductive zones identified to date across the entire 75 km
Greenland Norite Belt.
Slide 8
Maniitsoq Project Location
• Situated in a safe, stable,
mining-friendly jurisdiction.
• Close to tide water that is
navigable year-round.
• Straight forward permitting
process.
• No land claims issues.
• Mine development activities
nearby including road and deep
water port construction (London
Mining’s Isua Iron project).
Slide 9
Regional Geology
Setting
Property
GREENLAND
NORITE BELT
• Abundant Ni-Cu sulphide showings
associated with noritic intrusions.
• Norites are concentrated in, but not
restricted to, a J-shaped belt 75 km
long by up to 15 km wide that wraps
around the Finnefjeld Gneiss
Complex.
• Intrusion of nickeliferous norites over
a period of time spanning at least
one complete geomagnetic reversal.
Slide 10
Regional
Many
Ni-Cu Setting
Showings
• 14 significant Ni-Cu showings. Most are
concentrated in the Greenland Norite Belt
(GNB) outlined here by purple dashed lines.
• All showings were discovered by
Kyrolitselskabet Øresund A/S (KØ) between
1962 and 1972 through surface prospecting.
• KØ made numerous intersections including:
9.85 meters averaging 2.67% Ni and
0.60% Cu at Imiak Hill
12.89 meters averaging 2.24% Ni and
0.63% Cu at the Fossilik showing.
• KØ drilled 119 holes totalling 6,287 m (i.e.
average hole <55 m long) to test outcropping
norites, exposed sulphide mineralization and
shallow electromagnetic (EM) anomalies
directly associated with exposed
mineralization. This was the only drilling for
nickel in the GNB.
Slide 11
Deposit Model
VERTICAL SECTION
PRESENT DAY
EROSION LEVEL
Modified after Maier et al., 2001
Deposition of Ni-Sulphides in a Magma
Conduit System
•
Superheated noritic magma flows
through gneiss and paragneiss in an
open system.
•
Gneiss is assimilated by the hot
magma and triggers sulphide
saturation.
•
Ni + Cu ± PGE sulphides are
deposited in zones of lower velocity
within the magmatic plumbing
system.
•
Continual magma flow upgrades
nickel tenor of sulphide.
Slide 12
Consistently High Nickel
Tenor
Ni vs. S for Historical GNB Drill Core
• GNB sulphides have
a relatively consistent
nickel tenor of 6 to
8% Ni recalculated to
100% sulphide.
Nickel wt. %
• Presence of pyrite
means there is more
S for a given amount
of sulphide than in
typical magmatic
sulphide deposits
consisting mainly of
pyrrhotite-pentlandite
and chalcopyrite.
Typical 100% sulphide mixture
of Po+Cp+Pn contains 35.7% S
Kerr, 2003
DRILL CORE
Sulphur wt. %
After Shore, 2000
(Falconbridge Limited)
Slide 13
Previous Exploration Stymied by
Lack of Conductive Targets
Cominco 1995 – 1996
• 20,446 line-km of airborne GeoTEM EM and
magnetic surveying.
– Lines 200-400 m apart oriented 080° (i.e.
subparallel to orientation of norites resulting in
poor coupling).
– Large fixed wing aircraft had difficulty hugging the
rugged terrain resulting in noisy data.
– Very few anomalies associated with norites.
– Ground follow-up prospecting, minor surface
geophysics (<30 line-km) but no drilling.
Falconbridge 1993 & 2000
• 100 line-km of UTEM over Imiak Hill and part of
Fossilik.
– Lines 200 to 400 m apart.
– No conductors detected and no drilling done.
Slide 14
Now Many Targets Thanks to Modern
Regional
Setting
Helicopter Geophysics
• SkyTEM and VTEM helicopter-borne TEM
surveys flown by NAN in 2011 and 2012
have detected over 75 conductive zones
(circled in red on the adjacent map).
• This technology was not available to
previous explorers in the belt.
• NAN has flown the areas outlined in
green, which total 860 km2 and cover a
major portion of the GNB.
• Interpretation of the 2012 data is in
progress. To date over 75 conductive
zones have been identified (circled in red
on map).
Slide 15
Slide 16
3D EM Modeling Target B1-J
TARGET B1-J (IMIAK HILL): 3D VIEW LOOKING WEST
• 170 m long by 16 m wide conductor that comes to
surface and is directly coincident with the Imiak Hill
showing.
• The model shows that the mineralization strikes parallel
to most of the historical drilling and therefore has not
been properly tested.
9.85m @ 2.67% Ni, 0.60% Cu
FOOTWALL
CONTACT
OF NORITE
• The model has very limited dip extent (21 m) but the best
intersection on the showing (9.85 m averaging 2.67% Ni
and 0.60% Cu) occurs 130 m below surface indicating
that strong mineralization at surface is masking the EM
response from mineralization at depth.
9.85m @ 2.67% Ni, 0.60% Cu
Slide 17
Target B1-J Down hole 3D
Model
Slide 18
3D EM Modeling Target B1-L
TARGET B1-L (SPOTTY HILL): 3D VIEW LOOKING NORTH
~ 160 m BELOW SURFACE
(i.e. 100 m BENEATH
PREVIOUS DRILLING)
• Modeled as a 330 x 100 m
flat-lying conductor located
160 m below surface within a
norite intrusion.
• The conductor is untested but
past shallow drilling 100 m
above intersected weakly
disseminated, nickeliferous
sulphides grading up to
0.52% Ni and 0.26% Cu over
12.94 m.
• Clearly, mineralizing
processes were at work in the
intrusion as indicated by the
disseminated near-surface
mineralization and the most
logical location to look for
massive sulphides is at
depth.
Slide 19
Investor Risk Mitigation







100% ownership; Camp-sized land package (Sudbury)
Public Co management/financing experience
Technical team is deep
Secure political jurisdiction
Regional setting; year round exploration
Historic exploration data is remarkable ($10M plus)
Geology




Abundance of Ni-Cu occurrences at surface & in drilling
Undeformed norite host rocks
Mineralization: inclusion-bearing sulphides
Nickel Tenor – consistent and economic grade
 New technologies in “old” camp work
– 25 EM targets in 8% of land package
Slide 22
Plans for 2012 & Beyond
2012 – Immediate Priority
• 3,000 line-km of helicopter TEM over
prospective norites in southern part of the
norite belt.
• Ground truth conductive target zones among
75 identified by SkyTEM and VTEM Plus
surveys
• 1500 m of drilling.
• Prospecting outside of main norite belt looking
for new showings and norites.
• Estimated cost $3.0 million
2013
• Minimum 6,000 m of follow-up drilling on
targets derived from 2012 work
• 2,000 line-km of helicopter TEM
• Estimated cost $ 7.5 million.
Slide 23