=======================================================================
Nanika Commences Work Program on the Indi Gold - Silver Property
=======================================================================
July 9, 2009: Vancouver, British Columbia: Nanika Resources Inc.
(TSX-V: NKA and FSE: C7X) ("Nanika or the "Company") is pleased that
the multiphase work program (announced on April 30, 2009) at the gold,
silver, base metal "Indi Property" located approximately 24 kilometres
north of Stewart, British Columbia has completed Phase 1 and that Phase
2 is now underway with a work crew on site today. The "Indi Property"
is located in the prolific Stewart mining camp of northwestern British
Columbia.
The crew that has been mobilized on site will concentrate on the west
side of the property that has not been previously worked and will
include regional stream sampling, locating of showings, and the
creation of grid sampling over the area. A review of the existing data
on the Indi Property and a site visit were completed in Phase 1.
Further work on Indi this year will be considered for late summer and
fall based on the results of the current work program, and may include
drilling.
The Indi property and Nanika's recently acquired Indi South property
(see Nanika's news release of June 17, 2009) are located in close
proximity to the former Premier Mine. The Indi South property is about
one kilometre to the northwest of the former Premier Mine which has
produced approximately 1.8 million ounces gold, 41 million ounces
silver, 4.2 million pounds copper, 62 million pounds lead and 20
million pounds of zinc. The Premier Mine was acquired on June 15, 2009
by Ascot Resources Ltd. (TSXV: AOT) which has announced a $3 million
dollar program for 2009 to expand the historic geological reserves with
a drill currently mobilized to the site and drilling commenced (see
Ascot News Releases of June 30, 2009).
Nanika's President and CEO, James Jacuta commented that, "We are glad
to be underway. It is a perfect time to concentrate on the precious
metals portion of our portfolio."
Derrick Strickland, P. Geo., a qualified person under National
Instrument 43-101 has been retained to supervise Nanika's work program
on the Indi property and has reviewed the technical disclosure in this
news release.
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and
development company focusing on the advancement of its mineral
properties, all of which are located within Canada.
On Behalf of the Board
James D. Jacuta, Chairman,
President and CEO
For further information contact:
Doug Kerr:
Telephone: 604-638-0699 Toll Free: 1-866-580-0699
http://www.nanikaresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada (IROC) accepts responsibility for the adequacy
or accuracy of this release.
=======================================================================
Copyright (c) 2009 NANIKA RESOURCES INC. (NCV) All rights reserved.
For more information visit our website at
http://www.nanikaresources.com/ or send mailto:info@nanikaresources.com
=======================================================================
.
<
|
Nanika Resources Incorporation
|
|
EXPLORATION STAGE |
CODE : NKA.V |
|
CUSIP : 630018109 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nanika resources Inc is a silver and gold exploration company based in Canada. Nanika resources Inc holds various exploration projects in Canada. Its main exploration properties are TED, MOLY KING PROPERTY, SCEPTRE AND TIARA, INDI, MUNN LAKE, SWEENEY LAKE, CAMSELL LAKE, LAC DE GRAS, LUCKY SHIP, MAC CLAIMS, VERNON and NWT CLAIMS in Canada. Nanika resources Inc is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 945 530 as of today (US$ 931 725, € 752 554). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.23, and its lowest recent point on July 05, 2012 at CA$ 0.01. Nanika resources Inc has 94 553 000 shares outstanding. |