August 15, 2008
Pacific Coast Nickel Commences Drilling at Burwash Yukon, Provides Update
Pacific Coast Nickel Corp. (TSX-V: NKL) is pleased to announce that drilling has commenced on the Burwash Yukon project.
The Burwash property hosts nickel-copper-platinum group element (PGE) mineralization related to intrusions of the Late Triassic Kluane Mafic-Ultramafic Suite that were emplaced during a period of uplift and extension related to widespread basaltic volcanism. The property overlies the east half of the Quill Creek Mafic-Ultramafic Complex, a 20 km long multiphase sill-like intrusion that attains a maximum thickness of over 1 km. The Complex also hosts a number of other nickel-copper-PGE occurrences, the most significant and best explored of which is the former Wellgreen Mine.
Soil geochemistry and a 2007 helicopter-borne Versatile Time Domain Electromagnetic (VTEM) survey flown by Strategic have identified and better defined numerous targets on the Burwash property. Pacific Coast will test the majority of these targets but will focus its drilling where some of the best grades of mineralization occur in the west part of the property. The western part of the property hosts relatively thin but laterally extensive sills that are elsewhere dominated by peridotite or pyroxenite but here contain a greater proportion of gabbro (Lower, Upper and D. J. Showings). Mineralization consists of disseminated sulphides in gabbro, which to date have received little attention, and banded to massive sulphide mineralization along the sheared contact between gabbro and country rock. The banded to massive sulphides are enriched in the rare PGEs rhodium, osmium, iridium and ruthenium.
The 120 claim (2500 hectare) Burwash property is 100% owned by Strategic Metals Ltd. It is located in the Kluane Ranges of southwest Yukon, 8 km by all weather road from the Alaska Highway. All areas of exploration interest on the property are served by a network of four-wheel-drive roads. The Company is earning interests in the property by way of an option agreement.
The drilling is going to test a number of the prospective sites located on the property.
BIG NIC UPDATE
The company announced that it has completed field work at the Big Nic project The Company completed 496 meters of drilling; core obtained has been split and delivered to ALS Chemex in North Vancouver for analysis. The samples were delivered in late July and as has been the case lately we expect that it will be a number of weeks before results are received.
The 2008 drill program was focused on targets identified during April 2008 and June 2008, programs of ground geophysics. These targets were developed on the Big Nic property as a follow-up on a number of geophysical anomalies that were identified through reprocessing of previous airborne geophysical data and previous geological mapping and sampling.
SOUTH AMERICAN PROPERTY ACQUIRED
The Company is also pleased to announce that it has acquired by staking three nickel prospective properties located in Uruguay. The Company is seeking to further its land position in Uruguay over the coming months.
Murray McClaren, Vice President of exploration, who is a qualified person for the purposes of NI 43-101, has reviewed the contents of this news release.
About Pacific Coast Nickel Corp.
Pacific Coast Nickel Corp is actively exploring properties which are prospective for nickel and copper. The Company has two major properties. The Big Nic property is located approximately 20 kilometres north-west of Hope BC, immediately west of the former Giant Mascot Mines, a former nickel and copper producer. The Burwash property is adjacent to the Wellgreen Mine, also a former nickel and copper producer. The Burwash property is 8 km from the Alaska Highway near Burwash, Yukon Territory. The Company is also in the process of reviewing a number of opportunities in South America.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
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For further information, please contact: Michael Sweatman President (604) 684-4312 Jevin Werbes Longview Capital Partners (604) 681-5755 Pacific Coast Nickel Corp. Suite 605 475 Howe Street Vancouver, B.C. V6C 2B3 (604) 684-4312 fax (604) 608-3294
SOURCE: Pacific Coast Nickel Corp.