Nickel Creek Platinum Corp. (TSX: NCP) (" Nickel Creek " or the " Company ") is pleased to announce preliminary results from work being conducted on behalf of the Company by Dr. Gregory Dipple at CarbMinLab, University of British Columbia . This preliminary work indicates that samples taken from the Wellgreen deposit at Nickel Creek's Nickel Shäw Project contain key magnesium-rich minerals that are known to react quickly with carbon dioxide (CO 2 ) in air, such as the mineral Brucite, indicating a significant potential for carbon absorption.
" We started this work with Dr. Dipple in order to work towards an understanding of the potential carbon absorption of our tailings and waste rock that will reduce or even eliminate our greenhouse gas (GHG) footprint." commented Stuart Harshaw , President and Chief Executive Officer of Nickel Creek, "Having a low carbon nickel product will be beneficial to the downstream processers of our nickel, especially the EV market, where reducing the carbon footprint is a critical part of the green economy."
A summary of the results is presented below with a detailed summary also available on our website.
The Wellgreen deposit, which forms part of the Company's Nickel Shäw Project, contains extensive Ni-Cu-Platinum-Group Elements (PGE) mineralization within mafic to ultramafic rocks. It was assessed for its potential for carbon capture and storage based on samples provided by Nickel Creek. These samples consisted of 45 mineralized pulp and 2 slurry samples that were analyzed for mineral content to assess the abundance of gangue minerals that are known to be reactive to CO 2 in air. All 47 samples were assessed with thermogravimetric analysis (TGA) and 13 were assessed with quantitative X-ray diffraction (qXRD) analysis using the Rietveld method. qXRD results indicate that all but two of the samples were all highly serpentinized ultramafic rocks. TGA indicates that brucite and/ or hydrated magnesium carbonate minerals (e.g., hydromagnesite) were present in 22 of the samples analyzed. Leach testing was completed on four samples (1 control sample to determine Mg leached from serpentine) to assess the leachable Mg content (exclusive of hydromagnesite) and thus confirm the brucite content of the samples. Three of the leach test samples were determined to contain between 1 and 3 weight percent brucite. Brucite content in these samples (that are not representative of the complete tailings stream) represents a capacity to sequester 6 to 22 kg CO2 per tonne of tailings equivalent.
These Wellgreen samples contain the key magnesium-rich minerals such as brucite that are known to react quickly with CO2 in air. Hydromagnesite may represent brucite that has reacted with CO 2 in air during sample storage, or could reflect low temperature bedrock alteration. The confirmed presence of brucite and serpentine indicates that there exists significant potential for carbon mineralization within Wellgreen tailings and waste rock. A comparison of mineral content and whole rock chemistry indicates that these minerals can be found in rocks with wt.% Mg contents of 22 or greater.
Next steps will include the creation of a preliminary computed mineralogy model to assess the spatial distribution of rocks within the Wellgreen deposit that have high potential to contain brucite and thus sequester carbon. This model will co-relate the 3D whole geochemical database with the mineralogy test work summarized above.
The scientific and technical information disclosed in this news release was reviewed and approved by Cheibany Ould Elemine, Ph.D., P.Geo. of Ensero Solutions, and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada , one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements relating to the results from the studies being conducted on behalf of the Company by CarbMinLab (and the results and potential results thereof), and general future plans and objectives for the Company and the Nickel Shäw Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.
For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com . Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company focused on delivering value to stakeholders through diversified exposure to nickel, copper and platinum group metals (PGM) in Canada’s Yukon Territory. The Company’s principal business activity is the exploration and evaluation of its 100%-owned Nickel Shäw project, located in southwestern Yukon, Canada.
Nickel Creek Platinum’s Nickel Shäw project contains 1.9 billion pounds of nickel, 1.1 billion pounds of copper and nearly 6 million troy ounces of platinum, palladium and gold. Platinum-group metals (PGMs) account for approximately a quarter of the project’s resources and represent one of the larger PGM resources outside of South Africa and Russia. Copper, which is also critical to electric vehicle infrastructure, accounts for 13 percent, while cobalt, another necessary metal for the battery market, makes up 7 percent.
Nickel Creek Platinum enjoys the support of the Yukon government. The company has a strong relationship with the Kluane First Nation and the local community for the Nickel Shäw project. An Advisory Committee facilitates two-way communication to address any issues or concerns regarding the project. Nickel Creek also offers community support, training, and employment opportunities.
Nickel Creek has a strong commitment to ESG where it continues to collect baseline environmental data on its primary project for permitting purposes and is confirming the science behind the opportunity for carbon sequestration of the future tailings produced, ultimately illustrating a low-carbon footprint for the project.
Thanks to the mining-friendly Yukon Territory and positive relationships with the First Nations and local governments, Nickel Shäw is on its way to becoming one of the most productive initiatives in the industry.
The US and Canada both see nickel and cobalt as critical metals of strategic importance, and Stuart Harshaw, President and CEO of Nickel Creek, is confident the organization can help fulfil the need, stating that “… we have completed extensive metallurgical testwork on the full representation of the deposit to produce a product that can go to market. With our higher value per tonne than other similar projects, Nickel Creek Platinum is well positioned to move forward.” Mr. Harshaw sees the company “producing nickel for over 25 years.”
An undeveloped nickel sulphide location in the Yukon, the Nickel Shäw project boasts a favourable location and a diverse resource base of various metals including copper, cobalt, and PGMs. Investors will be exposed to several different metals when working with Nickel Creek Platinum.
The project is located southwest of Canada’s Yukon Territory, approximately 300 kilometres west-northwest of the capital, Whitehorse. This locale grants the project exceptional infrastructure, including the paved Alaska Highway and its year-round access to deep sea shipping ports in Haines and Skagway. There is potential for railway access in the future as well as options for renewable energy with the local community.
Stuart Harshaw is a seasoned mining executive with a successful international career with Vale SA and Inco Limited. Most recently, as Vice President of Ontario Operations for Vale, Mr. Harshaw was responsible for the Base Metal operations of Vale in Ontario that included six underground mines, a mill, smelter, nickel refinery, cobalt refinery, precious metal refinery, and hydro-electric production facilities.
He previously held various senior roles with Vale including marketing and sales for a broad range of metal concentrates and finished metals worldwide.
Since leaving Vale, he has been consulting in the global mining business and is a member of the Board of Directors of several mining companies, as well as the Laurentian University of Sudbury, Canada. Mr. Harshaw earned a BSc. in Metallurgical Engineering from Queen’s University and an MBA from Laurentian University.
Joe Romagnolo has extensive experience in the mining sector and in all areas of external financial reporting, budgeting, compliance, and cash flow management. He has also implemented financial reporting systems at all stages of a company’s growth and development from exploration to construction.
Mr. Romagnolo was recently with OceanaGold Corporation and Romarco Minerals Inc. He was responsible for the successful conclusion of over $500 million in equity financings and integrally involved in a US$200 million project debt financing with a syndicate of international banks with Romarco.
Before that role, Mr. Romagnolo was Corporate Controller of Centenario Copper Corporation, Atlas Cold Storage, and The Molson Companies Limited. Mr. Romagnolo is a Chartered Professional Accountant (CPA, CA) and is a member of the Institute of Chartered Professional Accountants of Ontario.
Heather White has over 20 years of experience in the mining industry where she has served in senior operating and executive roles with major companies like NOVAGOLD Resources, Vale Canada, and Voisey’s Bay Nickel Company. She was also the Chief Mine Engineer and subsequently Mine Manager for Voisey’s Bay, where she was responsible for development of the Feasibility Study through to mine operations.
Ms. White is a Professional Mining Engineer and President of White Mining Consulting Inc. She offers her advisory services, including Qualified Person and Project Management services for resource development, scoping analysis, PEA, PFS, and FS level mining studies to a diverse group of clients that includes The Electrum Group LLC, NOVAGOLD Resources Inc., Trilogy Metals Inc., and most recently Nickel Creek Platinum Corp.
During her time at Vale, Ms. White gained extensive experience in the nickel market, having planned and managed the worldwide nickel supply chain for Vale. Her duties involved the alignment of production of all products at all finished nickel smelting and refining facilities with market demand.
Mr. Manternach is President of Castle Grove Capital, LLC, an investment firm that provides strategic and financial advice, and raises capital for institutional investors and portfolio companies. He has over 25 years of experience in corporate finance, mergers and acquisitions, and corporate issuers. Mr. Manternach worked as an investment banker at JPMorgan Chase & Co. and as an analyst and manager of institutional investment funds with extensive experience in the mining and metals industry. Most recently he was Executive Vice President, Finance and Corporate Development at Lithium Americas Corp., and Managing Director and Senior Portfolio Manager of Ambac Assurance Corp., a subsidiary of Ambac Financial Group. He has been a director of Nickel Creek Platinum Corp. since July 2012 and was previously a director of Lithium Americas Corp. prior to its merger with Western Lithium Corp. Mr. Manternach holds a B.Sc. degree in Electrical Engineering with distinction from Iowa State University and an MBA from the Wharton School of the University of Pennsylvania.
Mr. Sylvestre is currently the Senior Vice-President, Americas Operations, for Kinross Gold Corporation. For most of his career, Mr. Sylvestre worked with Inco Ltd. where he held senior management positions domestically and internationally. Most notably, he was the Chief Executive Officer of Vale Inco, New Caledonia, President of Vale Inco, Manitoba Operations and the Vice President of Operations PT Inco, Indonesia. Mr. Sylvestre was also previously the President and Chief Executive Officer of Castle Resources Inc. and the Interim Chief Executive Officer of Claude Resources Inc. as well as Chair of the Board. Mr. Sylvestre brings over 40 years of mining experience to Nickel Creek Platinum. Mr. Sylvestre holds a M.Sc. and a B.Sc. in Mining Engineering from McGill University and Queen’s University, respectively. He is a member of the Professional Engineers of Ontario and the Canadian Institute of Mining. Mr. Sylvestre is also a graduate of the directors’ education program offered by the Institute of Corporate Directors (ICD) in partnership with the Rotman School of Management, University of Toronto.
Ms. Darling has over 30 years of global business experience, with particular expertise in Human Resources Management and Corporate Governance. She is the President of Michele Darling and Associates Inc., a management consulting business that provides human resources and strategic planning consulting services to Canadian and American businesses. Prior to establishing her consulting practice, Ms. Darling was the Executive Vice President, Corporate Governance and Human Resources, with Prudential Financial, Inc. from 1996 to 2002. She played a very significant role in the transformation of Prudential Financial from a mutual company into a public company and was honoured as Human Resources Executive of the Year in 2000. From 1991 to 1996, she was the Executive Vice President, Human Resources at Canadian Imperial Bank of Commerce, having joined the bank in corporate banking. Ms. Darling also held various Human Resources positions during her 10 years with The Oshawa Group Limited. Ms. Darling was a Director with Stornoway Diamond Corporation during 2018 and 2019 and a Director with Osisko Mining Corporation from 2012 – 2014. Ms. Darling holds a Bachelor of Arts (Honours) degree from the University of Sydney and obtained her Master’s degree in Education from the University of Toronto. Ms. Darling is a certified Human Resources Professional, and she is also a graduate of the directors’ education program offered by the Institute of Corporate Directors (ICD) in partnership with the Rotman School of Management, University of Toronto.
Mr. Kirk has over 35 years of experience as a corporate attorney, including nine years’ experience as Vice President, General Counsel and Corporate Secretary of Homestake Mining Company, and over 16 years of experience as a board member of publicly held companies, including as a member of audit and governance committees. He is currently a member of the Board of Directors of Northern Dynasty Minerals Ltd. Mr. Kirk holds a B.A. in Economics (Distinction) from the University of California (Berkeley) and an LL.B (magna cum laude) degree from Harvard University and has been a member of the California Bar since 1969.
Mr. Fields has over 30 years of experience in increasingly senior positions in the mineral exploration and mining industry with major and junior companies and currently operates his consulting practice, MC Fields Ventures Inc. Mr. Fields has and continues to serve on boards of publicly held companies involved in mineral exploration and development and on March 15, 2017, Mr. Fields was appointed as the Interim President and CEO of Discovery Harbour Resources Corp. and on December 17, 2019 was appointed President and CEO. He was involved in the acquisition and development of the Diavik diamond mine for the Rio Tinto Group through the 1990s. Mr. Fields was Vice President of La Teko Resources Ltd. when it negotiated a friendly take-over by Kinross Gold Corporation. As Executive Vice President of Pine Valley Mining Corporation, he was a key member of the executive team which brought the Willow Creek metallurgical coal mine into commercial production, for which he received the E.A. Scholz Award for excellence in mine development. Mr. Fields was President and CEO of Geodex Minerals from 2009 through 2014 and negotiated the joint venture and sale of the Sisson tungsten-molybdenum project to Northcliff Resources followed by the re-organization of Geodex Minerals. Mr. Fields holds a B.Sc. in Geology from the University of British Columbia and a B.Comm. (Honours) from Queen’s University.
Nickel Creek Platinum Corp. (TSX: NCP) (" Nickel Creek " or the " Company ") is pleased to announce that the Company formally commenced the drilling portion of its 2022 field program on July 1, 2022 at its 100%-owned Nickel Creek's Nickel Shäw Project in the Yukon, Canada .
Following successful completion of the recent C$2.7 million private placement, which included a Flow-Through Offering of C$2.4 million , the Company has secured the necessary funding required to perform an exploration program for the 2022 field season to collect data to facilitate completion of a Prefeasibility Study (" PFS "). This work will include PFS drilling on the Wellgreen deposit to support conversion of inferred mineral resources to indicated mineral resources and to collect additional geotechnical and hydrogeological data including the characterization of the proposed waste dump and tailings sites. Further drilling is also planned at the Arch exploration target to define the extent of mineralization.
Stuart Harshaw , President and CEO commented "We are looking forward to advancing the Nickel Shäw Project with our extensive program this summer. The nickel market needs projects like ours to develop in order to supply the increasing demand for nickel and copper to produce electric vehicles."
As part of the 2022 field program, the Company will be supported by the Kluane First Nation, the Company's First Nations partner via its operating companies, Kluane Development LP and Kluane Energy LP.
The scientific and technical information disclosed in this news release was reviewed and approved by Cam Bell , an independent geologist on a consulting retainer contract with the Company and a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada , one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements relating to general future plans and objectives for the Company and the Nickel Shäw Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.
For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com . Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Nickel Creek Platinum Corp. (TSX: NCP) ("Nickel Creek" or the "Company") is pleased to announce the results of its annual general and special meeting of shareholders (the "AGM") that was held on May 31, 2022 .
All of the following business items were approved at the AGM by the requisite majority of shareholder votes cast at the meeting:
The seven directors of Nickel Creek elected at the AGM are: Michele S. Darling , Mark Fields , Stuart Harshaw , Wayne Kirk , Myron G. Manternach , David Peat and Michel (Mike) Sylvestre . Votes for the directors were cast as follows:
About Nickel Creek Platinum Corp .
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada , one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
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Nickel Creek Platinum Corp. (TSX: NCP) (" Nickel Creek " or the " Company ") announced today, out of an abundance of caution, that in light of the ongoing public health impact of the novel coronavirus disease (" COVID-19 "), and in order to mitigate potential risks to the health and safety of our communities, shareholders, employees and other stakeholders, Nickel Creek is strongly encouraging its shareholders and others not to attend Nickel Creek's annual general and special meeting ("AGSM") in person, which is scheduled for Tuesday May 31, 2022 (the " Meeting ").
Shareholders are strongly encouraged to vote on the matters before the Meeting by proxy in advance of the Meeting by one of the methods described in the Company's Management Information Circular, and to listen to the Meeting by way of a live conference call, the details of which are described below. Shareholders of the Company are invited to submit questions in advance of the meeting by email at info@nickelcp.com . Instructions on voting via proxy can be found in the Company's Management Information Circular and the proxy or voting instruction form sent to all shareholders and available on Nickel Creek's website at www.nickelcreekplatinum.com and under Nickel Creek's profile on SEDAR at www.sedar.com .
Callers should dial-in 15 minutes prior to the scheduled start time and simply ask to join Nickel Creek's call and provide the operator with the conference ID. The dial-in details are as follows:
North American Toll-Free Dial-In Number: 1-866-342-8591 International Dial-In Number: 1-203-518-9713 Conference ID: NICKELCREEK
The Meeting is scheduled from 11:00 a.m. to 12:00 p.m. ( Toronto time).
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada , one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
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Nickel Creek Platinum Corp. (TSX: NCP) (" Nickel Creek " or the " Company ") is pleased to announce that it has closed its previously announced private placement (the " Private Placement ") pursuant to which the Company is issuing a total of 3,197,060 units (" Units ") for gross proceeds of approximately $0.3 million and 25,539,500 "flow-through" units (" FT Units ") for gross proceeds to the Company of $2.4 million for total gross proceeds of approximately $2.7 million . All dollars are denominated in Canadian dollars.
The Units were priced at $0.085 with each Unit consisting of one common share in the capital of the Company (each, a " Common Share ") and one-half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "), with each Warrant exercisable for one Common Share (each, a "Warrant Share ") at an exercise price of $0.125 for a period of three (3) years from the date of issuance, subject to adjustment upon certain customary events. Each FT Unit was priced at $0.095 with each FT Unit consisting of one "flow-through" common share (each, a " FT Share ") and one-half of one common share purchase warrant (each whole FT Share purchase warrant, a " FT Warrant "), with each FT Warrant exercisable for one Common Share (each, a " FT Warrant Share ") at an exercise price of $0.125 for a period of three (3) years from the date of issuance, subject to adjustment upon certain customary events.
On April 20, 2022 , the Company announced that its largest shareholder, Electrum Strategic Opportunities Fund L.P. (" Electrum "), exercised approximately 11.4 million warrants for approximately $911,000 . Electrum invested an additional $100,000 in the Private Placement for a total investment exceeding $1.0 million .
Stuart Harshaw , President and Chief Executive Officer of Nickel Creek, commented: "The completion of this capital raise allows us to build upon the success of our 2021 drilling campaign on the Arch target where we intersected high-grade nickel sulphides. In addition, we expect to carry out all the necessary field work to advance our 100%-owned Nickel Shäw Project towards Pre-Feasibility Study ("PFS"). This strategy should allow Nickel Creek to capitalize on an exceptionally strong nickel outlook, particularly at a time when so few emerging producers are located in safe geo-political jurisdictions such as the Yukon, Canada ."
All shares and warrants issued under the Private Placement will be subject to a statutory four-month hold period from the date of closing.
In connection with the issuance of the 25,539,500 FT Units, certain finders received payment of a finder's fee equal to 6% of the gross proceeds received by the Company from the sale of FT Units, which finder's fees were payable in Units (1,712,649) at an implied issue price of the Units.
The Warrants and FT Warrants, if exercised in full by the holders thereof, would represent additional gross proceeds to the Company of approximately $1.9 million .
The gross proceeds from the Private Placement will be used to fund the Company's 2022 exploration program, the investigation of strategic opportunities, ongoing permitting activities and holding costs at the Nickel Shäw Project, and for general corporate expenses and working capital purposes, with the gross proceeds derived from the sale of the FT Units being used by the Company solely to fund "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", each as defined under the Income Tax Act ( Canada ).
Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), the Private Placement constitutes a "related party transaction" as Electrum (and certain other insiders of the Company) have subscribed for Units. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of any Units or FT Units subscribed for by insiders pursuant to the Private Placement do not exceed 10% of the Company's market capitalization.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act "), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada , one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements with respect to the Company's 2022 exploration program (and the results and potential results thereof), and general future plans and objectives for the Company and the Nickel Shäw Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.
For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com . Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Nickel Creek Platinum Corp. (TSX: NCP) (" Nickel Creek " or the " Company ") is pleased to announce that it intends to conduct a drill program during 2022 at its 100%-owned Nickel Shäw Project (the " Project ") located in the Yukon, Canada and a proposed non-brokered private placement.
The Company proposes to sell, on a non-brokered private placement basis, up to approximately 41.2 million units (the " Units ") of the Company at a price of $0.085 per Unit and "flow-through units" (the " FT Units ") at a price to be determined in the context of the market. The Company is targeting aggregate gross proceeds of approximately $2.5 million , but may issue Units and FT Units for aggregate gross proceeds to the Company of up to approximately $3.5 million (collectively, the " Private Placement ").
Each Unit will consist of one common share of the capital of the Company (each, a " Common Share ") and one-half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "), with each Warrant exercisable for one Common Share (each, a " Warrant Share ") at an exercise price of $0.125 for a period of three (3) years from the date of issuance, subject to adjustment upon certain customary events. Each FT Unit will consist of one "flow-through" common share (each, a " FT Share ") and one-half of one common share purchase warrant (each whole FT Share purchase warrant, a " FT Warrant "), with each FT Warrant exercisable for one Common Share (each, a " FT Warrant Share ") at an exercise price of $0.125 for a period of three (3) years from the date of issuance, subject to adjustment upon certain customary events. The Warrants and FT Warrants, if exercised in full by the holders thereof, would represent additional gross proceeds to the Company of approximately $5.1 million .
On April 20, 2022 , the Company announced that its largest shareholder, Electrum Strategic Opportunities Fund L.P. (" Electrum "), exercised approximately 11.4 million warrants for approximately $911,000 . Electrum has indicated that it will invest an additional $100,000 in the Private Placement for a total investment exceeding $1.0 million .
The net proceeds from the Private Placement will be used to fund the Company's 2022 drill program (see below), the investigation of strategic opportunities, ongoing permitting activities and holding costs at the Project, and for general corporate expenses and working capital purposes, with any gross proceeds derived from the sale of any FT Units being used by the Company solely to fund "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", each as defined under the Income Tax Act ( Canada ).
Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), the Private Placement would constitute a "related party transaction" as Electrum (and certain other insiders of the Company) will subscribe for Units or FT Units. These transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of any Units or FT Units subscribed for by insiders pursuant to the Private Placement will not exceed 25% of the Company's market capitalization.
The closing of the Private Placement remains subject to the approval of the Toronto Stock Exchange and other customary closing conditions for a transaction of this nature. The Units and FT Units will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws. The Common Shares, the FT Shares, the Warrants and the FT Warrants (and any Warrant Shares and/or FT Warrant Shares, as applicable) will be subject to a statutory hold period of four months and one day from the date of issuance of the Units and FT Units.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act "), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
An exploration program is planned for the 2022 field season to collect data to facilitate of the completion of a Prefeasibility Study (" PFS "). This work will include PFS drilling on the Wellgreen deposit to support conversion of inferred mineral resources to indicated mineral resources and collect additional geotechnical and hydrogeological data. Additional information will also be collected to characterize proposed waste dump and tailings sites. Further drilling is also planned at the Arch exploration target to define the extent of mineralization.
On November 29, 2021 , the Company announced complete results of its 2021 drilling and geophysics program. A series of holes at the Arch Target intersected massive to semi-massive sulphide overlain by significant thicknesses of disseminated sulphides. These intervals graded 0.32% to 1.41% Ni, 0.14% to 0.69% Cu and 0.45 g/t to 2.49 g/t TPM over 12.4m to 23.7m intervals (down-hole core lengths) in nine holes.
The Company will focus the 2022 field program on the PFS support work. This program may be adjusted or amended based on the amount of proceeds received from the Private Placement.
The scientific and technical information disclosed in this news release was reviewed and approved by Cam Bell , an independent geologist on a consulting retainer contract with the Company and a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project in one of the most favourable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements relating to the Private Placement and the timing of closing of the Private Placement, statements with respect to the Company's exploration programs, drilling, geophysics and sampling programs (and the results and potential results thereof), and general future plans and objectives for the Company and the Nickel Shäw Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.
For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com . Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Nickel Creek Platinum Corp.
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World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") reports that, pursuant to their news release dated July 21, 2022, the Company has received TSX Venture Exchange acceptance of the Paradox Public Relations Inc. ("Paradox") agreement and has granted to Paradox, 1,000,000 stock options at an exercise price of $0.31 for a period of 36 months. The options will vest in stages over a 12-month period whereby 25% of the options will vest each quarter. The option grant includes 4 month hold period.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its advanced (PEA Stage) copper porphyry projects: Escalones in Chile, and Zonia in Arizona. These projects have estimated resources with significant soluble copper (potentially heap leach amenable) mineralization. In addition, each project has peripheral copper porphyry exploration targets with exciting potential to expand the established resources. World Copper is an aggressive junior resource company focused on advancing mining and exploration projects and controls significant copper oxide resources in proven mining jurisdictions.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-10km to the north of the main discovery.
Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.
The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and '70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
On Behalf of the Board of Directors of
Nolan Peterson Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact: Nolan Peterson or Michael Pound Phone: 604-638-3287 E-mail: info@worldcopperltd.com
For all Investor Relations inquiries, please contact: John Liviakis Liviakis Financial Communications Inc. Phone: 415-389-4670
For all Public Relations inquiries, please contact: Nancy Thompson Vorticom, Inc. Office: 212-532-2208 | Mobile: 917-371-4053
Twitter: https://twitter.com/WorldCopperLtd Facebook: https://www.facebook.com/WorldCopperLtd LinkedIn: https://www.linkedin.com/company/worldcopperltd
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's continuous disclosure documents. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134682
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Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) ("Platinex" or the "Company") is pleased to provide an update on its 225 km 2 Shining Tree Gold Project ("Shining Tree" or the "Project") located in the Abitibi region of Ontario, a world-renowned gold district.
The Company has commenced an exploration program designed to identify new gold targets in five areas located outside the central core of the property that are underexplored yet highly prospective. Prospecting, geological mapping, litho-geochemical sampling, and soil sampling will be carried out in each area (see attached image). The Company has also engaged a resource firm to compile historical data and model previous drilling in the central area and the recently acquired mine area (Ronda Mine). An exploration target review of the Herrick deposit will also be completed to identify potential expansion and infill drilling targets.
Exploration will also cover areas identified by Windfall Geotek Corp.'s ("Windfall") artificial intelligence ("AI") process. Windfall identified several new targets outside of areas of previous exploration activity (see attached image).
Following the conclusion of current activities, the Company will analyze data from newly generated targets and the compilation and modelling of the central area of the Shining Tree property to determine the highest priority targets for further exploration and drilling activities later this year. The exploration plan includes stripping and trenching of the priority targets to generate high quality drill targets.
New Target Generation and Location
Several areas targeted as part of the current exploration program are on ground that Platinex acquired through recent property acquisitions from Treasury Metals Inc. (July 2020), Alamos Gold Inc. (August 2021), and Skead Holdings Limited (March 2022). These areas have not seen exploration activities by Platinex.
Target Area #1 : This target area located within Churchill Township covers several splay faults/shears off the Ridout-Tyrrell Fault Zone ("RTFZ"). Features of interest include potential iron formation within the Porcupine assemblage immediately Northwest of the Herrick Deposit along with the iron formation and the mylonitized, mineralized and deep-seated contact between the Keewatin-Porcupine assemblage in the Churchill and Corona gold occurrences area. Target #1 is characterized by a large magnetic high, with flanking lows, that is similar in size, and exhibits a similar magnetic gravity signature, to that found at the nearby Juby deposit.
Target Area #2 : This target area located in northern MacMurchy Township covers the east-west-trending sheared Keewatin-Porcupine assemblage contact and is host to numerous northwest-trending splay structures off the RTFZ. The target area is coincident with some significant gold-in-till anomalies.
Target Area #3 : This target area occurs in south-central MacMurchy Township and was selected as a priority target by Windfall. The target area is cut by a north-northwest-trending fault like the Michiwakenda Lake Fault, parallel to and 400m east of the Herrick deposit in southeastern Churchill Township.
Target Area #4 : Asquith-Churchill Townships. Like Target Area #1, Target #4 is cut by northwest-trending splay faults/shears emanating from the RTFZ. The area is underlain by mafic to ultramafic flows and intrusive rocks as well felsic to intermediate porphyries. The target area is located on a deep seated, northwest-trending magnetic susceptibility high coincident with several historic gold showings and shafts.
Target Area #5 : The target area which occurs in central Leonard Township is host to potential splay structures similar to the Tyrrell Fault hosting the Juby and other gold deposits in adjacent Tyrrell Township. The target is characterized by a magnetic high coincident with folded iron formation and is considered a favourable setting for gold deposits.
The technical information presented in this news release has been reviewed and approved by Ike Osmani, P. Geo, and Jim Trusler, P. Eng., both of whom are qualified persons for exploration at the Shining Tree Gold Project, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Platinex Inc.: Platinex creates shareholder value through the opportunistic acquisition and advancement of high-quality projects in prolific Ontario mining camps. Current assets include a 100% ownership interest in the 160 km 2 district scale W2 Copper-Nickel-PGE Project near the Ring of Fire and a 100% interest in the 225 km 2 Shining Tree Gold Project in the Abitibi region of Ontario, a world-renowned gold district. The W2 Project controls one of the major Oxford Stull Dome complexes. The Shining Tree Project covers a major portion of the Ridout-Tyrrell deformation zone that trends as far west as Newmont's Borden Mine, through the area of IAMGOLD's Cote Gold deposit, and across Aris Gold's Juby Project. The Company is also developing a net smelter return (NSR) royalty portfolio and currently holds royalties on gold, PGE, and base metal properties in Ontario.
For further information please contact. Mr. Greg Ferron, Chief Executive Officer at 416-270-5042 or via email at: gferron@platinex.com
To receive Company press releases, please sign up on the website www.Platinex.com.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include those regarding the timing and nature of future exploration activities at the Shining Tree Gold Project. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this press release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a47ce03e-e04c-490d-9668-0e64eaa5895e
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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF is focused on the advanced exploration of their Fondaway Canyon gold project situated in Nevada. BTV interviews Mike Sieb to learn more.
Getchell Gold Corp. (CSE: GTCH, OTCQB: GGLDF)
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Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com
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Canada Nickel Company Inc. (TSX-V: CNC) (" Canada Nickel " or the " Company ") is pleased to announce that further to its news release dated July 6, 2022 it has filed on SEDAR an independent technical report titled "Crawford Nickel Sulphide Project - NI 43-101 Technical Report, Preliminary Economic Assessment & Updated Mineral Resource Estimate" (the " Technical Report ") . This report (the "Report") was prepared by Caracle Creek International Consulting Inc (Caracle Creek) with support from Ausenco Engineering Canada Inc. (Ausenco), and Wood Environment & Infrastructure Solutions Canada Limited (Wood) (collectively the "Authors") for Canada Nickel Company Inc. (CNC) to provide the updated mineral resource estimate as announced by CNC on July 6, 2022 and to re-iterate the results of the Crawford Nickel Sulphide Project Preliminary Economic Assessment (PEA) dated July 9, 2021 and with an effective date of May 21, 2021 .
A copy of the Technical Report is available under the Company's profile page at www.sedar.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, drill and exploration results relating to the target properties described herein (the "Properties"), the potential of the Crawford Nickel Sulphide Project and the Properties and mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals, and the impact of COVID-19 related disruptions in relation to the Company's business operations including upon its employees, suppliers, facilities and other stakeholders. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law.
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SOURCE Canada Nickel Company Inc.
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Toronto, Ontario TheNewswire - August 22, 2022 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB, ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) Noble is pleased to announce that it has entered into a Exploration Agreement ("Agreement") with the Constance Lake First Nation ("CLFN)") in relation to exploration and potential development at both the Company's Nagagami and Boulder Projects near Hearst, Ontario.
The Agreement establishes a commitment by Noble to provide accommodation, to engage in ongoing consultation and establish a mutually beneficial cooperative and productive relationship with the CLFN located in the Projects area. The agreement also provides the First Nation with an opportunity to participate in the benefits of the Projects through priority access to business opportunities, employment and training, and through financial compensation.
Vance White, President and CEO of Noble, said: "we are fully committed to the responsible exploration and potential development of what we believe to be two very exciting opportunities in heretofore underexplored mineral lands. Our approach is to work with First Nations in order to create shared value through economic opportunities, while also being respectful and responsible stewards of the natural environment. Noble acknowledges Constance Lake First Nation in its commitment to protect and enhance the land and resource based economy within its Traditional Territory. We welcome the First Nation in a constructive and collaborative approach to the exploration and potential development of the Projects."
Chief Ramona Sutherland of the Constance Lake First Nation says, "Constance Lake First Nation ensures that any development in our Territory is done right, only with respect for the lands and our people and only with our free, prior and informed consent. We are pleased that Noble has agreed to proceed in this respectful way."
Nagagami Carbonatite Niobium and Rare Earths Project, Ontario (~14,000 ha)
An Early Exploration Permit has been received from the Province and helicopter supported drilling is expected to begin in September.
Past work in the Nagagami area has been spotty in the past. Part of this is due to the fact that the complex is not exposed on surface. Algoma Ore Properties performed the original airborne magnetic survey in the area that identified the complex. Limited drilling was aimed at the magnetic ring structure in search of iron deposits. Despite drilling in the wrong geology for niobium and rare earth metals, one of the Algoma drillholes returned 0.3% Nb205 from a grab sample of syenite taken at 230 feet downhole. Fluorite was noted in one drill hole as red-brown, waxy hydronephelite (an alteration form of nepheline) comprising 5-10% of the rock. The existence of fluorite is characteristic of carbonatite style mineralization.
Click Image To View Full Size
Figure 1: Comparison of the Nagagami Complex (left) with the Niobec Mine in Quebec
In 2019 Ontario Geological Survey analyzed a sample from the 140kg boulder and determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252 g/T of silver, 3.79 g/T of gold; 4.43 g/T of palladium; and 2.22 g/T of platinum and consisted primarily of the mineral cuprite
During the Fall of 2021 Noble launched an exploration program on the property to in an effort to identify the source of the boulder. Basal till samples collected from two fence lines of hand auger holes, located about 100 m and 1 km north of the boulder location, produced 35 gold grains. These gold grains defined a southeast-northwest trending dispersion train that indicates they were transported southeast by a glacial transport from a source area located to the northwest. The dispersion train appears to begin near a northeast trending magnetic anomaly to the northwest of the property. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting evidence of local source. The cost of the staking, sampling and assaying to date has been.
Work will continue during the 2022 field season including a helicopter airborne survey, expected to be completed in September.
Click Image To View Full Size
Figure 2: The Cousineau Boulder cut in half.
Historical exploration results disclosed in this news release are non-compliant with the requirements of National Instrument 43-101.
Michael Newbury PEng (ON), a "qualified person" as such term is defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold mineral rights to ~ 36,400 hectares, in the Timmins-Cochrane area of Northern Ontario, included in which Noble has acquired a 50% interest in 7 patents and 310 tenure identified mining claims totalling ~6,600ha in Carnegie, Kidd, Wark and Prosser Townships and an option on 4,800ha in Calder Twp. known as Project 81, as well as an additional ~11,000 hectares in the Timmins area Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its recently acquired ~14,600 hectares in the Nagagami Carbonatite Complex near Hearst, Ontario and ~14,400 hectares of mining claims in Central Newfoundland. In addition, it holds mineral rights to ~3,700 hectares in the Buckingham Graphite Property, ~518 hectares in the Laverlochere Nickel, Copper, PGNM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise .
Investor Relations: ir@noblemineralexploration.com
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Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF) (the "Company" or "Emerita") is pleased to announce additional assay results from the ongoing delineation drilling of the Romanera deposit at its wholly-owned Iberian Belt West (IBW) project ("IBW" or the "Project").
Joaquin Merino, P.Geo., President of Emerita, comments, "We continue to see significantly higher gold and silver values than were reported in the historical work. Areas that were not assayed for gold previously and were not included in the historical resource estimate are showing values of 2-7 g/t gold which potentially can add significantly to the resource even within the footprint of the historical drilling. The historical estimate was based on a simple lead+zinc cut off grade. In addition, we are observing that the Upper Lens of massive sulphide appears to be more extensive than the historical drilling indicated."
Assays have been received for three additional drill holes at La Romanera (Figure 1). Two drill holes are from the central part of the deposit LR080, LR010) and hole LR011. Highlights include the following:
• Hole LR008: 19.4 meters grading 0.4% copper, 4.6% lead, 5.1% zinc, 2.3 g/t gold and 204.6 g/t silver from 282.6 meters depth (including 4.0 meters grading 0.4% copper, 10.2% lead, 13.2% zinc, 3.6 g/t gold and 267.0 g/t silver).
• Hole LR010: 13.8 meters grading 0.4% copper, 1.0% lead, 1.9% zinc, 2.3 g/t gold and 39.4 g/t silver from 296.9 meters (including 2.7 meters grading 0.4% copper, 2.8% lead, 6.6% zinc, 7.4 g/t gold and 57.3 g/t silver)
The current results correspond to drillholes LR008, LR010 and LR011, which have intercepted the central zone and the western zone of the La Romanera deposit previously known from historical information.
Drill holes LR008 and LR010 are located in the central part of the La Romanera deposit, and intercepted mineralization at approximately 300 and 250 meters below surface and 70 meters apart. These drill holes confirm the continuity of mineralization through the central part of the deposit and cover the area between drill holes LR004 and LR001 (Please see the Company's news release dated July 7, 2022). The Upper and Lower lenses were intercepted by both drill holes, confirming the continuity of the lenses and the enhanced precious metals grades relative to the historical assays.
Drill Hole LR008: The hole encountered two lenses: Upper Lens occurs from 282.6 meters with 19.4 meters grading 0.4% copper, 4.6% lead, 5.1% zinc, 2.3 g/t gold and 204.6 g/t silver (including 4.0 m grading 0.4% copper, 10.2% lead, 13.2% zinc, 3.6 g/t gold and 267.0 g/t silver). The Lower Lens was intercepted 37.8 m below the Upper Lens and encountered 18.8 m grading 1.4% copper, 0.6% lead, 1.2% zinc, 0.96 g/t gold and 20.4 g/t silver (including 4.0 meters grading 3.2% copper, 0.9% lead, 2.4% zinc, 1.09 g/t gold and 36.3 g/t silver).
Drill Hole LR010: Drill hole LR010 was drilled to target 50 m to west and 50 m above LR008. It intercepted the two massive sulphide lenses. The Upper Lens occurs from 275.7 with 7.4 meters grading 0.5% copper, 0.7% lead, 0.9% zinc, 1.3 g/t gold and 47.5 g/t silver (including 2.0 meters grading 0.5% copper, 1.5% lead, 2.3 % zinc, 1.8 g/t gold and 91.5 g/t silver). The Lower Lens was intercepted 13.8 meters below the Upper Lens and encountered 13.5 meters grading 0.4% copper, 0.8% lead, 1.2% zinc, 0.7 g/t gold and 45.8 g/t silver (including 3.0 meters grading 0.4% copper, 1.7% lead, 3.4% zinc, 1.7 g/t gold and 127.3 g/t silver).
In the west end of the deposit (section 350E), drill hole LR011 intercepted both lenses, which represents an excellent discovery in relation to the existing historical information, since, in that zone, only the Lower Lens had been reported by historical holes. In addition to the presence of the 2 mineralized lenses, the thickness of the historical interval has been exceeded.
Drill Hole LR011: Hole LR011 was drilled at the western extent of the deposit on section 350 east 200 meters west of LR008 (Figure 1). LR011 intercepted two massive sulphide lenses which is an important development as only the lower massive sulphide lens is identified in this area in the historical drill data. The Upper Lens starts from 150.2 meters and consists of 13.8 meters grading 0.4% copper, 1.0% lead, 1.9% zinc, 2.3 g/t gold and 39.4 g/t silver (including 2.7 meters grading 0.4% copper, 2.8% lead, 6.6% zinc, 7.4 g/t gold and 57.3 g/t silver. There are no records of the Upper Lens in the historical data.
The Lower Lens occurs from 179.7 meters with 11.4 meters grading 0.3% copper, 1.6% lead, 0.4% zinc, 3.4 g/t gold and 177.5 g/t silver (including 1.9 meters grading 1.0% copper, 3.1 % lead, 0.6% zinc, 5.4 g/t gold and 353.5 g/t silver).
The true thickness of the intercepts is estimated at 85-90% of the core length.
Figure 1: Location map showing drill holes 008, 010 and 011 of the La Romanera Deposit. Hole LR011 is the westernmost hole drilled by the Company to date and is located 200 meters west LR008. LR011 intersected both the upper and lower massive sulphide lenses in an area where only a single lens is referenced in the historical drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/21dff0af-2341-42a1-8d4a-3290a47e2957
Table 1: Diamond drill hole data
The scientific and technical information in this news release has been reviewed and approved by Mr. Joaquin Merino, P.Geo, President of the Company and a Qualified Person as defined by NI 43-101 of the Canadian Securities Administrators.
Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe, with a primary focus on exploring in Spain. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
Vincent Chen +1 778 990 9433 (Toronto) info@emeritaresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, the mineralization of the IBW Project; the prospectivity of the Project; the timing and ability of the Company to produce an NI 43-101 compliant mineral resource estimate and the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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