Metal Energy Corp. (the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce its inaugural drill program is complete on the high-grade nickel and copper Manibridge project (the " Project " or " Manibridge ") in the Thompson Nickel Belt, Manitoba .
"This first drill program on our flagship Manibridge project was a success. We had a 100% nickel-copper mineralization intersection rate in every hole, and we confirmed our model. Most importantly, two holes confirmed nickel-copper sulphide mineralization within gaps of our model. The nickel-copper sulphide system at Manibridge is completely open at depth which can add a significant amount of bulk tonnage to what's already there. Preparations for our planned 10,000 metre follow-up drill program are underway and we anticipate some exciting discoveries this summer. Nickel demand continues to grow with a projected shortfall of supply over the next decade; we intend to have Manibridge contributing to the North American electrification supply chain," said James Sykes , CEO of Metal Energy.
The Company is preparing an in-depth video presentation to provide details on this completed drill program, including its views on mineralization controls and vectors for higher-grade nickel and copper occurrences.
Drilling was focussed within a one-kilometre strike-length of the Manibridge Mine which produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977 ( Figure 1 ). Six drill holes (MNB001 to MNB006) were completed for a total of 2,350 metres ( Figure 2, Table 1 ). Drilling was cut short due to the expiration of the Government drill permits.
All drill holes successfully intersected nickel-copper sulphide mineralization, confirmed with a handheld XRF*. Confirmation of sulphides ranged from 3.7 m thickness (MNB003) to 16.8 m thick (MNB001) including a couple of drill holes intersecting small occurrences of massive net-textured sulphides (MNB001, Figure 3 ). Drill hole MNB004 intersected sulphides over three separate intervals. All drill holes had evidence of nickel-copper sulphides remobilized in foliations and shears. Intense serpentinization alteration of the sulphide bearing ultramafic rock types is interpreted to remobilize nickel-copper sulphides to other areas, therefore possibly providing higher-grade occurrences of nickel-copper sulphides at or near alteration margins.
*Handheld XRF ("hXRF") results do not replace traditional laboratory-based analysis, however the results do provide an effective screening tool for the determination of nickel-copper sulphides for selecting samples for geochemical assay analysis. hXRF analyses were taken on every 10 cm of the surface of the core as spot analyses with a 1 cm view window wherever visible sulphides and/or ultramafic rock types were present. The reported widths of mineralization in Table 1 were calculated with a hXRF cut-off grade of 0.3% Ni with no greater than 1.0 m of consecutive internal dilution, and are subject to confirmation by chemical analyses from an independent laboratory. The hXRF model used was a Niton XL3 and operated by CanAlaska Uranium Ltd. The reader is cautioned that these width results might not reflect laboratory-quality width results and therefore should only be viewed as an initial screening for the presence of nickel-copper sulphides within the drill core.
Preparations for Manibridge's Phase Two 10,000 metre diamond drill program are underway, with Metal Energy now acting as operator of the Project. The drilling contractor, accommodations, and support services have been secured, and the drill permits from the Manitoba Government are expected prior to month's end. The Company anticipates mobilization of the drill program immediately thereafter.
Geochemical assay results from the drill program will be released once received from the lab and reviewed for QAQC. Metal Energy has been advised that the current turn-around time has been estimated at 6 to 8 weeks. CanAlaska Uranium Ltd. was the operator for this drill program.
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden , which has significant infrastructure and capacity that has supported previous exploration programs, including year-round highway access via Highway 6.
Metal Energy has acquired 49% interest in the Manibridge project effective March 22 , 2022. The Company has elected to continue exploration to earn up to 70% in Manibridge with a long-term objective for 100% ownership of Manibridge.
Table 2 below shows some of the historic drill intersections on the Manibridge project.
Table 2 - Selected Historic Drill Intersections on Manibridge
FIGURE 1 – Manibridge Project Location and Planned Drill Program Location
FIGURE 2 – Winter 2022 Drill Holes Within Manibridge Mineralization Shell (looking west)
FIGURE 3 – Massive Net-Textured and Brecciated Sulphides (MNB001 at 269.0 m depth)
Table 1 - Winter 2022 Diamond Drill Hole Collar Data and Visible Sulphide Results
Metal Energy is a well-funded nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada , respectively. Both projects are subject to earn-in agreements where the Company can acquire 100% exploration rights to approximately 16,200 hectares.
The technical information contained in this news release has been reviewed and approved by Mike Sweeny , P.Geo., Vice-President, Exploration & Development for Metal Energy, and a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Certain information set forth in this news release contains forward-looking statements or information (" forward-looking statements "), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com including the Filing Statement dated November 15, 2021 . Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. 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.
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Nickel has long been used in the production of stainless steel, but as the world races towards widespread adoption of green technologies, such as electric vehicles and renewable energy sources, the metal is becoming increasingly attractive for its role in high-capacity batteries. The green metal recently skyrocketed a historic 250 percent in two days, the largest-ever increase for nickel on the London Metals Exchange (LME). Russia’s invasion of Ukraine is the presumed catalyst, as Russia is the third-largest producer of nickel. LME halted trading for the day on March 8th due to rapidly crossing the US$100,000 per tonne threshold and then receding to US$80,000 per tonne before trading halted.
Even before Russia’s invasion of Ukraine, nickel had a positive outlook for 2022 after it surpassed expectations in 2021 with the metal ending in a deficit. Stainless steel is expected to remain the key driver of nickel demand for 2022, but the usage of nickel cathodes in long-range electric vehicle (EV) batteries is strengthening momentum. Some market analysts anticipate a “supercycle like no other” for the various metals necessary for the world to transition to green energy and the electrification of things.
The supercycle will go down as historically important as it is aims to replace centuries of dedicated fossil fuel use. The demand for nickel in green technologies is still gaining momentum, presenting mining companies with a unique opportunity: act pre-emptively to achieve a sustainable long-term market position. Governments around the world have made promises to transition to clean energy, a strong indication of the anticipated supercycle. Canada alone has promised that all of its electricity and all new cars sold will be zero-emission by 2035 – more clean energy metals are necessary to achieve that goal. Where will they come from?
James Sykes, CEO of Metal Energy, recently put the importance of the Manibridge Project’s location into context, stating, “The thing we know about the Thompson Nickel Belt is that over six billion pounds of nickel has been produced from within the belt since 1961, that’s a lot of nickel. It’s the fifth-largest nickel mining jurisdiction in the world; this is not a little area, this is huge. This has global implications moving forward, especially with the advent of EVs and battery requirements, we need nickel! So why not go back to the Thompson Nickel Belt.”
A 3,000-meter drill program recently commenced within the Manibridge Project targeting high-grade nickel within a kilometre of the old mine workings. The drilling program is focused on a historic mining area that produced 1.3 million tonnes of high-grade nickel from 1971 to 1977. Metal Energy isn’t just reproducing historic drill holes, it's identified additional targets to extend the current envelope of high-grade nickel, acting on this interest with its recent 49 percent acquisition of Manibridge.
The Strange Project, the company’s second project, is located within the Animikie Basin geological region in Ontario This area includes major sulphide nickel deposits that resemble the deposits found in the nearby Lundin Mining’s (TSX:LUN) Eagle East and Eagle Mine deposits.
Metal Energy is part of the Ore Group, a collection of mining companies targeting premier jurisdictions that share in-house technical and financial expertise. Additionally, a team of experienced experts lead Metal Energy’s exploration and growth. James Sykes, CEO, brings his past successes in the uranium space to the team, confident he can repeat history with nickel. Stephen Stewart serves as chairman and director, adding his extensive management background to the team. Charles Beaudry adds 30 years of experience in exploration and hands-on project management within the mining space. The team is rounded out by additional experts in their respective fields, including corporate financing and natural resource investment.
The Manibrige Project is located within the famous Thompson Nickel Belt, which is one of the world’s richest nickel districts. The company believes that the project has potential for numerous multi-million-tonne deposits of high-grade ore enveloped by additional lower-grade mineralized shells.
Metal Energy recently acquired 49 percent interest in this project, electing to continue exploration pursuant to the company's option agreement to earn up to 100 percent of the Manibridge Project. "Our current and planned 10,000 metre summer drill program are designed to help us understand the geological controls of nickel mineralization in order to advance the Project towards a mineral resource estimate," said James Sykes , CEO of Metal Energy.
This project is a potential district-scale discovery opportunity for nickel sulfide. Multiple targets have already been identified, including a few large-scale magnetic anomalies. The presence of the anomalies prompted Metal Energy to stake additional claims, bringing the total area of the project to 11,000 hectares.
James brings more than 15 years of mineral exploration and discovery experience to the team, most notably from prominent roles in high-grade uranium and rare earth element successes. Over the past decade, he has been directly and indirectly involved with the discovery of over 500 million pounds of uranium-three in the Athabasca Basin, located in Northern Saskatchewan, having helped generate billions of dollars in shareholder appreciation. Sykes is also the CEO, president, and director of Baselode Energy, where they made a new uranium discovery, ACKIO, with the company’s first drill program.
Stephen Stewart is the CEO and director of Orefinders Resources and QC Copper & Gold, both TSXV-listed companies, while also being a director of Mistango River Resources, a CSE-listed company. He is also Managing Partner of Minvest, a private group focused on natural resource discovery and development. Stewart is the founder and chairman of the Young Mining Professionals Scholarship Fund, the largest mining-focused charitable organization and fund, supporting mining engineering and geology education in Canada. Stewart holds a bachelor's of arts degree from the University of Western Ontario, a master's of business administration from the University of Toronto’s Rotman School of Management, and a master's of science from the University of Florida.
Charles is a professional geologist with over 30 years of experience in project generation, business development, exploration chemistry, and hands-on project management. Beaudry previously held the position of general manager of new business opportunities with IAMGOLD from 2008 until 2009, after having spent nearly 17 years in various capacities for Noranda-Falconbridge-Xstrata. His tenure included serving as country manager of Brazil from 1996 to 2001 and manager of the Frieda River Project from 2005 to 2006. He holds a bachelor's of science in geology from the University of Ottawa and a master's of geology from McGill University.
Alexander Stewart has over 40 years of experience in the practice of corporate and securities law and natural resource investment. He has been a director of numerous public companies on various exchanges including NASDAQ, NYSE, TSX, and TSXV. For the last fifteen years, he has focused exclusively on the mining and metals sector and has been instrumental in sourcing, funding, and developing high-quality mineral assets in North and South America. In the past, he was the founder, seed financier, and principal behind a number of mining projects including the Cote Lake Project, acquired by IAMGOLD in 2012 for over C$580 million, and the Eagle One polymetallic project now owned by Noront Resources. He holds a bachelor's of arts degree from the University of Western Ontario, a juris doctor degree from the University of Toronto Law School, and an LCE diploma from the University of Madrid.
Joel Friedman is a finance professional with over 13 years of experience working in the mining and cannabis industries. Most recently, Joel served as the CFO of Khiron Life Sciences Corp, prior to this, he was Vice President, Finance at CannTrust Inc., and Director of Finance at Primero Mining Corp. and senior finance roles at Banro Corporation and Iamgold Corporation. Mr. Friedman began his career at Deloitte in the Real Estate and Resources group, where he worked with a variety of publicly listed clients throughout the mining lifecycle, from exploration to multi-asset operators. Mr. Friedman holds a CPA, CA and Honours Bachelor of Business Administration from the Schulich School of Business at York University, Canada.
Mike Sweeny is a professional geologist with over 30 years of experience and a strong focus on nickel, copper, and platinum group element (“Ni-Cu-PGE”) minerals systems. Previously he held various positions, including senior geologist for numerous underground and surface exploration programs with Falconbridge-Xstrata-Glencore. He played primary roles in the discoveries of the Onaping Depth Deposit (currently in development), Fraser Morgan Deposit (currently in production). Sweeny was a part of the exploration team that discovered the recent Ni Rim Depth and Norman West Footwall deposits, for a combined total that's close to 65 million tonnes of nickel and copper resources. He has extensive experience in managing and designing underground and surface exploration programs from grassroots discovery to definition drilling leading to production. He started his career with the Ontario Geological Survey focused on the Lac des Iles PGE deposit, in the Thunder Bay area, positioned in Northwestern Ontario. Sweeny holds a master's of geology from Western University.
Metal Energy Corp. (" Metal Energy " or the " Company ") (TSXV: MERG) is pleased to announce that it will be featured at Ore Day which will be broadcast today June 10 th at 9 am ET at www.Oreday.com
Ore Day is a conference hosted by the Ore Group of Companies who focus on gold, copper, nickel, and uranium development projects.
Ore Day will also feature keynote talks and interview with industry experts, including:
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com
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.
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Metal Energy Corp. (the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce its started its Phase 2 10,000 metre drill program (the " Program ") on the high-grade nickel and copper Manibridge project (the " Project " or " Manibridge ") in the Thompson Nickel Belt, Manitoba . Drilling will focus within the shadow of the past-producing mine that produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.
"We're very excited to start this large drill program on Manibridge. There's a lot of underexplored potential within the shadow of the old mine workings and we intend to prove up the nickel and copper endowment. Our Phase 1 drill program within the same target area had a 100% drill hole intersection success, indicating that our model is accurate and hinting that a lot of nickel-copper sulphide mineralization remains to be discovered along this trend. Our current drill program will include a series of drill fans along twelve 50 metre-spaced drill setups. We believe this drill density will provide sufficient detail to accurately characterize the geology of the mineral system. We recently received permit approvals for up to 100,000 metres of diamond drilling on the Project; this is Phase 2 of a 2-year plan. We're committed to advancing Manibridge efficiently and effectively. There's potential for bulk tonnage mineralization within 300 metres of surface and we intend to start defining it with this drill program," said James Sykes , CEO of Metal Energy.
The Program consists of diamond drilling 10,000 metres in approximately 33 drill holes. The drill hole collar locations will be within 150 to 600 metres of the old mine workings. The average drill hole depths are planned for between 225 and 400 metres. All drill holes will be inclined between -45 and -85. Figure 1 is a location map of the drill program within the Manibridge project.
Geochemical assays will be released as they become available from the lab and reviewed for QA/QC. Metal Energy is the operator of the Program, holds 49% of the Project, and is currently earning towards 70% ownership of the Project with a short-term objective for 100% ownership of Manibridge. CanAlaska Uranium Ltd. currently holds the remaining 51% of the Project.
All drill holes successfully intersected nickel-copper sulphide mineralization, confirmed with a handheld XRF*. Confirmation of sulphides ranged from 3.7 m thickness (MNB003) to 16.8 m thick (MNB001) including a couple of drill holes intersecting small occurrences of massive net-textured sulphides. Drill hole MNB004 intersected sulphides over three separate intervals. All drill holes had evidence of nickel-copper sulphides remobilized in foliations and shears. Intense serpentinization alteration of the sulphide bearing ultramafic rock types is interpreted to remobilize nickel-copper sulphides to other areas, therefore possibly providing higher-grade occurrences of nickel-copper sulphides at or near alteration margins.
Geochemical assay results from the Phase 1 drill program will be released once received from the lab and reviewed for QAQC. See Metal Energy news release dated May 2, 2022 , for a detailed review of the Phase 1 drill program.
*Handheld XRF ("hXRF") results do not replace traditional laboratory-based analysis, however the results do provide an effective screening tool for the determination of nickel-copper sulphides for selecting samples for geochemical assay analysis. hXRF analyses were taken on every 10 cm of the surface of the core as spot analyses with a 1 cm view window wherever visible sulphides and/or ultramafic rock types were present. The reported widths of mineralization in Table 1 were calculated with a hXRF cut-off grade of 0.3% Ni with no greater than 1.0 m of consecutive internal dilution, and are subject to confirmation by chemical analyses from an independent laboratory. The hXRF model used was a Niton XL3 and operated by CanAlaska Uranium Ltd. The reader is cautioned that these width results might not reflect laboratory-quality width results and therefore should only be viewed as an initial screening for the presence of nickel-copper sulphides within the drill core.
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden , which has significant infrastructure and capacity that has supported previous exploration programs, including year-round highway access via Highway 6.
Table 1 below shows some of the historic drill intersections on the Manibridge project.
FIGURE 1 – Manibridge Project and Phase 2 Drill Program Location
Metal Energy is a well-funded nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada , respectively. Both projects are subject to earn-in agreements where the Company can acquire 100% exploration rights to approximately 16,200 hectares.
The technical information contained in this news release has been reviewed and approved by Mike Sweeny , P.Geo., Vice-President, Exploration & Development for Metal Energy, and a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Certain information set forth in this news release contains forward-looking statements or information (" forward-looking statements "), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com including the Filing Statement dated November 15, 2021 . Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. 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.
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Baselode Energy Corp. (" Baselode " or the " Company ") (TSXV: FIND) (OTCQB: BSENF) is pleased to announce that in partnership with the YMP Scholarship Fund it has renewed its Indigenous Mining Scholarship for 2022. Baselode will be awarding a $2,000 scholarship to an Indigenous student leader enrolled in a Canadian post-secondary institution looking to pursue a career in the mining industry who has demonstrated academic success and a commitment to preserving Indigenous languages and culture.
"Baselode is very proud to support Canada's Indigenous youth pursuing academic studies in the mining and exploration sector with our scholarship contribution. This scholarship presents an opportunity for an individual to benefit directly from Canada's mining sector, which has a history of supporting Indigenous communities and partnering together for mutual benefits. We are pleased to know that this scholarship will benefit the recipient's educational growth and development," said James Sykes , CEO and President of Baselode Energy Corp.
Apply Here: Click here to find the YMP Scholarship applications. The application deadline is August 31, 2022 .
Baselode, along with other Ore Group Companies, American Eagle Gold (TSXV: AE), Orefinders Resources (TSXV: ORX), Mistango River Resources (CSE: MIS), Metal Energy (TSXV: MERG), and QC Copper and Gold (TSXV: QCCU), are proud to be donating a total of $20,000 to students from the Indigenous Community in Canada in partnership with the Young Mining Professionals Scholarship Fund.
Young Mining Professionals Scholarship Fund ("YMPSF") is pleased to announce the continuation of its scholarship program in 2022, with $200,000 in scholarships to be given directly to students studying earth sciences in Canada . YMPSF is a volunteer-based organization with 100% of its donations from partners awarded directly to the student scholarship recipients. YMPSF's mandate is to attract young people to Canada's exploration and mining industry by supporting their academic studies in earth sciences.
Baselode currently controls 100% of approximately 207,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada . The land package is free of any option agreements or underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond-drilling.
For information and updates on Baselode please visit: www.baselode.com And please follow us on Twitter @BaselodeE And please follow us on LinkedIn @BaselodeEnergyCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the TSX Venture Exchange will approve the Assignment Agreement, and whether the Company's exploration efforts on the Property produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com .
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Metal Energy Corp. (the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce it has received a 3-year Work Permit (the " Permit ") from the province of Manitoba to allow for 100,000 metres of diamond drilling on the high-grade nickel and copper Manibridge Project (the " Project " or " Manibridge ") in the Thompson Nickel Belt of Manitoba .
"This is a big step forward for Metal Energy as operators advancing Manibridge. The Permit provide us the necessary approval to continue definition drilling of the Manibridge Mine target, expanding on the Manibridge North high-grade nickel deposit, and drill testing kilometres of prospective greenfield exploration targets over the next 3 years ( Figure 1). We are optimistic that there are more high-grade nickel and copper greenfield discoveries to be made on the Project. Still, we are more confident that the historic Manibridge Mine target has significant growth opportunities for a viable nickel-copper resource. We are weeks away from starting Phase Two's 10,000 metre summer drill campaign, which is largely focused on delineating a resource on the Manibridge Mine target," said James Sykes , CEO of Metal Energy.
Preparations for Manibridge's Phase Two 10,000 metre diamond drill program are underway, with Metal Energy now acting as operator of the Project. The drilling contractor, accommodations, support services, and the Permit have all been secured. The Company anticipates mobilization of the drill program during the first days of June.
The Company has approximately $5.5 million in cash and is fully-funded to carry out the Phase Two drill program.
The recently completed Phase One drill campaign included six drill holes (MNB001 to MNB006) for over 2,350 metres. All drill holes successfully intersected nickel-copper sulphide mineralization; assay results are pending. Confirmation of nickel-copper sulphides ranged from 3.7 m thickness to 16.8 m thick, including a couple of drill holes intersecting small occurrences of massive net-textured sulphides. For full details, see Metal Energy news release dated May 2 , 2022.
The Company is preparing an in-depth video presentation to detail Phase One's drill program results, including its interpretations of mineralization controls and vectors for higher-grade nickel and copper occurrences.
FIGURE 1 – Manibridge Project Location and Future Drill Program Targets
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden , with significant infrastructure and capacity supporting previous exploration programs, including year-round highway access via Highway 6.
Metal Energy has acquired 49% interest in the Manibridge project effective March 22 , 2022. The Company has elected to continue exploration to earn up to 70% in Manibridge with a long-term objective for 100% ownership of Manibridge.
Metal Energy is a well-funded nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada , respectively. Both projects are subject to earn-in agreements where the Company can acquire 100% exploration rights to approximately 16,200 hectares.
The technical information contained in this news release has been reviewed and approved by Mike Sweeny , P.Geo., Vice-President, Exploration & Development for Metal Energy, and a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Certain information set forth in this news release contains forward-looking statements or information (" forward-looking statements "), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com including the Filing Statement dated November 15, 2021 . Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. 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.
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Metal Energy Corp. ("the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce the acquisition of 49% interest in the Manibridge project (" Manibridge " or the " Project ") effective March 22, 2022 . The Company has also elected to continue exploration to earn up to 70% interest in Manibridge. These transactions are a part of Metal Energy's option agreement to earn up to 100% of Manibridge.
"This is a monumental step forward for Metal Energy as we advance the Manibridge project. We firmly believe Manibridge has the potential to contribute to the evolving global electrification transition, particularly in the electric vehicle and renewable energy markets. Manibridge was a past-producer of high-grade, high-tenor sulphide nickel and the historic operators left a lot of high-grade nickel in the rocks. Our current and planned 10,000 metre summer drill program are designed to help us understand the geological controls of nickel mineralization in order to advance the Project towards a mineral resource estimate," said James Sykes , CEO of Metal Energy.
CanAlaska are the operators of the on-going diamond drilling program within the shadow of the past-producing Manibridge mine which produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977. The drill program is planned for 3,000 metres with 9 drill holes within a kilometre strike of the Manibridge mine (see Metal Energy news release dated March 7, 2022 ).
The Company has issued a total of 1,198,630 Common Shares to the optionor of the Project, CanAlaska Uranium Ltd. (" CanAlaska "), at a price of $0.146 per Common Share (20 day VWAP) and has also granted a 1% NSR royalty on two claims and a 2% NSR royalty on all other claims. The Common Shares issued have a four-month resale restriction.
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden , with significant infrastructure and capacity supporting previous exploration programs, including year-round highway access via Highway.
Metal Energy is a well-funded nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada , respectively. Both projects are subject to earn-in agreements where the Company can acquire 100% exploration rights to approximately 16,200 hectares.
Certain information set forth in this news release contains forward-looking statements or information (" forward-looking statements "), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com including the Filing Statement dated November 15, 2021 . Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. 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.
View original content: http://www.newswire.ca/en/releases/archive/March2022/29/c3749.html
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Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to provide an update on the work programmes at its 100%-owned Saints Nickel Project (Saints) in Western Australia.
All outstanding assay results have been received from the infill diamond drill programme completed earlier this year. All drill-holes intersected nickeliferous massive or semi-massive sulphides (refer to Figures 1 & 2), with significant intersections including (see Table 1 for full table of results):
Following the receipt of the final outstanding assays, the Company has initiated an update of the Mineral Resource Estimate (MRE) on the Saints Nickel Project, contracting experienced resource geologist Shaun Searle from Ashmore Advisory Pty Ltd to complete the work.
The update of the Saints MRE is focussed on using the assay results and geological information from the infill drilling to upgrade a large portion of the current Saints Mineral Resource of 1.02Mt @ 2.0% Ni for 21,400t of contained nickel 1 from an Inferred Resource to an Indicated Resource category. The expected upgrade in resource classification is a critical step in the Saints Scoping Study and will result in a higher level of confidence in the financial modelling of the potential underground mining scenario. The MRE upgrade is expected to be completed within the next four to six weeks.
The Company is also pleased to announce that it has received excellent interim results from the ongoing metallurgical testwork on the nickel sulphide mineralisation at Saints. Strategic Metallurgy Pty Ltd has completed a first-pass test of two bulk composite samples from the recent drilling, one from the Saint Patricks mineralisation and the other from Saint Andrews, following the traditional flow sheet of “Kambalda-style” nickel sulphide deposits.
Both metallurgical samples produced very good concentrate grades over 14%, with initial concentrate grades up to 24% Ni and 5% Cu. Importantly, the iron to magnesium ratio is also very good (Fe:MgO >10 and >22, respectively), the cobalt grade and recoveries are good (>0.5% Co) and there is no arsenic (As) in the material.
The testwork will now focus on improving the recoveries, as there were still nickel sulphides observed in the tailings of both initial tests. The final results for the Saints metallurgical testwork are expected in the next four to six weeks and will provide further critical inputs into the Saints Scoping Study.
Auroch Managing Director Aidan Platel commented:
“We are extremely encouraged with the initial results from the metallurgical testwork at Saints. The tests have shown that the sulphide mineralisation at both Saint Patricks and Saint Andrews can produce a very clean, high-grade nickel-copper-cobalt concentrate with excellent Fe:MgO ratios, which would make it a desirable ore source for any nickel sulphide beneficiation facility in the region.
We are also pleased to have commenced work on upgrading the MRE at Saints. These two work streams will provide critical inputs into the Saints Scoping Study and, importantly, will result in a higher level of confidence in our financial modelling of the potential underground mining scenario at Saints. We look forward to the results of this work and to finalising the Scoping Study later this quarter.”
Figure 1 – Long-section (looking east) of the current modelled resource at the Saints Nickel Project showing intersected pierce points and significant intersections from recent diamond drill programme
Figure 1 – Map of the Saints Nickel Project showing results from the recent diamond drill programme against interpreted geology, historic drill-holes and resource outline
This announcement has been authorised by the Board of Directors of the Company.
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This article includes content from Auroch Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Poseidon Nickel (ASX: POS) (“Poseidon” or “the Company”) is pleased to report an updated Mineral Resource Estimate (MRE) for the Black Swan disseminated sulphide deposit at Black Swan.
Managing Director and CEO, Peter Harold, commented, “The update of the Black Swan Disseminated Resource is an important milestone for our Fill the Mill Strategy. Black Swan has a 2.2Mtpa process plant (mill) and our strategy is to “Fill the Mill” to leverage off the existing infrastructure and large resource base at Black Swan.
The latest MRE incorporates the results from the recent underground drill programs undertaken from the Gosling drill drive. We are pleased the update has resulted in both an increase in the overall tonnes of contained nickel together with an increase in the inventory of the Measured and Indicated Resources. Most importantly, the recent drilling has provided an improved understanding of the disseminated grade distribution within the metallurgically important serpentinite and talc-carbonate hosted ores below the existing Black Swan open pit. The improved metallurgical understanding is key to further de-risking the restart of Black Swan.
Work is well advanced on optimising the pit shell designs from the new MRE and from the underground mining studies at Silver Swan and Golden Swan. Once completed, this work will allow the updating of Ore Reserves for the Black Swan Project to underpin the Bankable Feasibility Study.”
The MRE was prepared for Poseidon by independent resource consultants Golder Associates Pty Ltd (Golder) using all available assay data as at June 2022. The updated MRE now totals 28.9 Mt @ 0.63% Ni for 181kt of nickel metal contained. The MRE replaces the previous Black Swan MRE completed by Golder in 2014 (refer to Company announcement “Black Swan Mineral Resource” dated 4 August 2014) which reported 29.1 Mt @ 0.59% Ni for 170.9kt of nickel metal contained excluding stockpiles which have not been updated at this time.
TABLE 1 - COMPARISON BETWEEN 2014 MRE AND 2022 MRE AT 0.4% NI CUT-OFF
The updated 2022 Black Swan MRE is classified in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012) and are reported herein above a 0.4% Ni cut-off grade in Tables 1 and 2. The JORC 2012 Compliance tables (Sections 1, 2 and 3) that accompany this announcement are contained in Appendix 1.
Competent Persons for this updated 2022 MRE are Poseidon’s in-house geology team for providing the validated drill hole database and the lithological and mineralisation domains for the Black Swan deposit. Golder’s personnel were responsible for the estimation, reporting and classification of the MRE.
The updated MRE incorporates 5,144 metres of new drilling from 24 diamond drill holes (DDH) completed by Poseidon between October 2021 and March 2022 (refer to Table 2 and Appendix 2) and 14 RC holes (2,481 metres) completed in 2019 (refer to Company announcement “Black Swan underground RC Drilling – Final Assay Results” dated 27 November 2019). Both drill programs were completed from underground using the Gosling access drive. The recent 24-hole drill program was specifically undertaken to increase the confidence in the Black Swan MRE, by infilling the area extending approximately 125 metres immediately below the existing Black Swan open pit with the objective of better delineating the metallurgically important serpentinite and talccarbonate hosted resources in this area. Below this area, the MRE is based on the same historical drill hole data that was used in the August 2014 MRE.
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This article includes content from Poseidon Nickel, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or the ‘Company’) is pleased to announce that assay results from three exploration diamond drillholes (‘DDH’) drilled, but never assayed, in 2015 by Valoriza Minería S.L.U. (‘Valoriza’) returned high tin grades from cassiterite mineralisation. These results will be included for the ongoing 3D geological model of the vein system and for a maiden JORC compliant Mineral Resource Estimate (MRE) for its 100% owned San Finx tin and tungsten mine1 (“San Finx”).
Managing Director Steven Turner said:“These results confirm the exceptional grades of both tin and tungsten that are characteristic of this mine and underpin the attractiveness of restarting operations as soon as possible. San Finx is a historically producing mine with simple metallurgy and a track record of selling high-grade clean concentrates under contract. Work is continuing with the JORC compliant mineral resource estimate, and these results will be incorporated into that study. The Board looks forward to updating the market with the final report in Q3 2022.”
Assay results from 3 deep DDH, drilled by previous owners
Rafaella Resources has received assay data from the three DDH re-coded as 15DDPN01 (PN01), 15DDPN02 (PN02) and 15DDPN03 (PN03) which were drilled by Valoriza with the objective of expanding resources at depth for the underground operation. Figure 1 shows the location of the drillholes and of the underground development projections.
Figure 1. San Finx Sn-W deposit showing the mineralized zones at surface and the projection of the underground development for the zones of Buenaventura and Pozo Nuevo. Collar and projection of DDH PN01, PN02 and PN03.
Table 1 is showing drillhole coordinates, depth and downhole survey.
A total of 71 samples from the 3 DDH, including QA/QC (blanks, standards and duplicates from both, pulps, and coarse rejects) were submitted to ALS preparation laboratory in Seville.
All intercepts above 0.25% cut-off (combined Sn + WO3) have been calculated, as shown in table 2. True thickness factor has been applied according to the angles measured directly from core.
Cu assay returned an average grade of 0.30% Cu within the 0.25% Sn+WO3 cut-off intervals, suggesting that the mine could generate credits from a by-product sulphide concentrate.
The mineralised veins intersected generally correspond with the NE system, showing high core angles, Corrections ranging between 0.50 and 0.95 have been applied for the true thickness factor. Note that for the shallower mineralised veins intersected by DDH 15DDPN01, drilled in the NE extreme of the Pozo Nuevo Zone and that corresponds with the NNE trending Campelo-Silva vein system, the true thickness factor applied was much higher due to the low angle that such veins have been intersected.
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This article includes content from Rafaella Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to inform shareholders that field operations at Surimeau have resumed, our team of geologists will be following up on the visual mineralization encountered in the May 2022 program with additional prospecting and mapping in the area, stripping and channel sampling.
Information acquired in the May program, and which will be acquired in this next program, will allow Renforth to better define the surface extent of the battery minerals bearing Victoria Structure which stretches ~20km east to west across the central portion of our 330 sq. km. Surimeau property, road accessible adjacent to the. Canadian Malartic Mine and the Town of Malartic, Quebec.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a "qualified person" pursuant to NI 43-101.
For further information please contact:
President and Chief Executive Officer
#Unit 1B - 955 Brock Road, Pickering ON L1W 2X9
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Renforth is focused on Quebec's newest battery metals district, our wholly owned ~330 km 2 Surimeau District Property, which hosts several known areas of polymetallic "battery metals" mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
No securities regulatory authority has approved or disapproved of the contents of this news release.
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
Click here to connect with Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) to receive an Investor Presentation
Click here to read the previous top nickel stocks article.
After seeing huge gains earlier in the year, the nickel price has cooled, and shares of nickel-focused companies on the TSX and TSXV have subsided along with it.
Back in Q1, nickel rocketed to US$100,000 per metric ton (MT) — an all-time high and a rise of 250 percent over the course of two days. In response, the London Metal Exchange suspended trading and canceled some trades.
Even though prices have pulled back, many nickel companies are still up significantly year-to-date, which can't be said for all commodities in this struggling market.
Below the Investing News Network has listed the top nickel stocks on the TSX and TSXV by share price performance so far this year. All year-to-date and share price data was obtained on June 20, 2022, using TradingView’s stock screener. The top nickel stocks listed had market caps above C$10 million at that time.
Year-to-date gain: 34.69 percent; market capitalization: C$40.11 million; current share price: C$0.33
Garibaldi Resources is an explorer focused on its high-grade Nickel Mountain project in BC, Canada. According to the company, it discovered Northwest BC’s first magmatic nickel massive sulfide, which is within the E&L intrusion at Nickel Mountain. The discovery contains seven metals, including nickel, copper and cobalt. Exploration highlights include 8.3 percent nickel, 4.3 percent copper and 0.19 percent cobalt over 16.75 meters.
Garibaldi released results from a 2021 ZTEM survey at Nickel Mountain on March 31. According to the release, “the large ZTEM response beneath E&L greatly expands the potential for further discovery beneath and around E&L.” In the week following this news, company shares jumped to a year-to-date high of C$0.63 on April 4. Since then, the company has released follow-up information about the ZTEM results, including the identification of a new pipe-like target, and has announced the purchase of an additional mineral tenure that is contiguous with its Red Lion project.
Garibaldi’s most recent news came on May 13, when it announced that exploration at the Casper quartz gold vein discovery showed 30 grams per MT gold, after which the company saw a small share price spike.
Year-to-date gain: 30 percent; market capitalization: C$15.84 million; current share price: C$0.13
Grid Metals is a nickel explorer and developer working out of Canada’s Manitoba and Ontario provinces. The company holds a portfolio of five projects that all tie into its goal of targeting the battery metals industry. Grid’s flagship project is its Makwa Mayville nickel-copper project, which also hosts platinum-group metals and cobalt mineralization. Near Makwa Mayville is Grid’s Mayville lithium property. The company is also exploring the Donner Lake lithium project.
The company’s share price rose with nickel to hit a year-to-date high of C$0.23 on March 10. On March 11, it released drill results from its Bannockburn nickel property; the best result was 341.7 meters averaging 0.28 percent nickel. Since then, Grid has released exploration results for two drill holes at Donner Lake and 14 at Makwa Mayville. Grid released further positive news at Donner Lake that extended the Northwest Dyke target, which started a share price gain that met its previous high on May 3; it shared the discovery of new high-grade lithium at the project on May 12.
On June 7, Grid Metals and Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF)announced that Grid would be selling Bannockburn to the latter company. In return, Grid Metals will receive 2 million Canada Nickel common shares.
Year-to-date gain: 25.64 percent; market capitalization: C$200.63 million; current share price: C$0.49
Sherritt International is a miner, producer and refiner of high-purity nickel and cobalt, and its primary focus is nickel. The company operates a mine in Cuba and a refinery in Alberta, both of which are part of its 50/50 Moa joint venture with Cuba’s General Nickel Company. The vertically integrated joint venture has a capacity of 35,000 tonnes of nickel and 3,800 tonnes of cobalt produced per year.
In February, Sherritt released its 2021 production results and 2022 guidance. Among other details, the company revealed it expects a production increase for nickel, from 31,184 tonnes in 2021 to guidance of 32,000 to 34,000 tonnes for this year. On March 1, the company announced the appointment of decarbonization expert Chih-Ting Lo to its board of directors, and also named Maryse Bélanger as deputy chair. The focus of these changes is to strengthen Sherritt's commitment to environmental, social and governance matters.
Sherritt’s share price shot up alongside the nickel price to reach a high of C$0.82 on March 10. On May 11, the company shared its first quarter results, including its portion of finished nickel production at Moa of 3,875 MT.
Year-to-date gain: 25 percent; market capitalization: C$104.24; current share price: C$1.25
Unlike the other companies on this list, Nickel 28 Capital is a streaming and royalty company focused on battery metals, primarily nickel and cobalt. The company has an 8.56 percent joint venture interest in the Ramu nickel-cobalt operation in Papua New Guinea, as well as royalty agreements for 13 nickel and cobalt projects.
The company hasn’t released much news thus far in 2022. On February 1, it shared full-year and Q4 2021 operating results for the Ramu project, including annual output of 31,594 MT of contained nickel and sales of 32,793 MT. Although Nickel 28 didn’t release more news until May 9, its share price has trended upwards this year, with a spike in early March and steady growth in April. It hit its year-to-date high of C$1.73 on April 20, but fell off in early May.
On May 9, the company shared its Q1 results for Ramu, with production of 8,756 MT of contained nickel and sales of 3,336 MT. Nickel 28's share price saw a small spike in early June, which it maintained through the June 1 release of its results for the 2021 financial year, including repayment of US$38 million of debt. Its share price has fallen again recently, but it is still up year-to-date.
Year-to-date gain: 20 percent; market capitalization: C$127.36 million; current share price: C$0.60
FPX Nickel is a nickel company developing its flagship Decar Nickel District in BC, at which its main focus is the Baptiste deposit. It has recently begun exploring the Van deposit at the same property. It also has 100 percent ownership of three other nickel projects in BC and one in Canada's Yukon.
FPX’s share price soared in early March alongside the nickel price and on the release of news that the company had appointed a new principal metallurgist; the firm hit a year-to-date high of C$0.87 on March 8. Other March news includes drill results at Baptiste and the creation of a subsidiary called CO2 Lock to pursue carbon capture technology.
The majority of FPX's news since then has focused on Decar. On May 24, the company shared plans for an exploration drilling program at the Van target. At the Baptiste deposit, the company announced positive findings for the use of carbon capture technology for tailings at the site, as well as news on engineering trade-off studies at the site.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Nickel Company and FPX Nickel are clients of the Investing News Network. This article is not paid-for content.
Nickel Creek Platinum President & CEO Stuart Harshawyoutu.be
Nickel Creek Platinum (TSX:NCP,OTCQB:NCPCF) CEO Stuart Harshaw said, “By early 2030s, we're going to need twice as much nickel as what is produced today. And sulfides are depleting. The long-term sulfide mines that are being processed for the last 20 to 30 years from the big main players are getting harder to find. So they're going to be looking for these types of deposits that Nickel Creek represents.”
Nickel Creek Platinum intends to conduct a 2022 drill program at its 100 percent owned Nickel Shäw project in Yukon, Canada. According to news releases, the Nickel Shäw project contains 1.9 billion pounds of nickel, 1.1 billion pounds of copper and nearly 6 million ounces of platinum, palladium and gold.
Harshaw said, “We've been producing nickel, copper, cobalt, platinum, palladium and gold. We call them precious metals. This program that we're doing right now is really moving us along the development path. We've been waiting on the nickel market to improve. It's been in what I would consider a low position over the last 10 years. Right now, you're starting to see the real pickup in that due to the increased demand coming from the electric vehicle market especially.”
Nickel’s primary role in electric vehicles is in the battery. Harshaw explained that the mistake people make is to say it's a lithium battery. According to Harshaw, It's actually a nickel battery, and that's where most of the nickel will be in the battery chemistry.
“We're looking to do a prefeasibility study that may take five to six years from inception. The key though for the concept of nickel is that we're going to need to double the amount of nickel produced in the world in the next decade," Harshaw said.
“The most important thing to understand is that we have a very large, valued property because of the platinum, palladium and copper that comes with the nickel. This is not just a nickel play. What you actually are getting is a very high value per tonne for these types of deposits. That's an important thing to understand about Nickel Creek Platinum.”
Additionally, Nickel Creek Platinum recently closed a C$2.7 million private placement. Harshaw said, “We’re very well funded; we just finished a raise. We've got money in the bank that will take us through to the middle of next year and fund the work we're doing on the prefeasibility study.”
Watch the full interview of Nickel Creek Platinum CEO Stuart Harshaw above.
Disclaimer: This interview is sponsored by Nickel Creek Platinum (TSX:NCP,OTCQB:NCPCF). This interview provides information that was sourced by the Investing News Network (INN) and approved by Nickel Creek Platinum in order to help investors learn more about the company. Nickel Creek Platinum is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nickel Creek Platinum and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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