Canada Nickel Achieves Initial Metallurgical Success at Mann Northwest Property

Canada Nickel Achieves Initial Metallurgical Success at Mann Northwest Property

Highlights

  • First two metallurgical tests at Mann deliver strong recovery and concentrate quality:
    • Overall nickel recoveries of 58% and 59%.
    • Nickel and magnetite concentrate grades in line with expectations.

Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV:CNC) (OTCQX:CNIKF) is pleased to announce robust recovery and concentrate quality results from the first set of metallurgical tests on samples from the Mann Northwest property.  The results were achieved using the standard flowsheet developed for the Crawford Nickel Sulphide Project ("Crawford").

Mark Selby , CEO of Canada Nickel, said "We are very pleased by the first tests at Mann Northwest which achieved overall nickel recoveries of 58% and 59% and achieved expected nickel and iron concentrate grades.  These initial results at Mann Northwest, along with our earlier success achieved at Reid using the standard flowsheet developed for Crawford, demonstrate the potential to leverage our development work at Crawford across the portfolio of targets throughout the Timmins Nickel District."

Canada Nickel is in the process of completing the earn-in of an 80% interest in the Mann property, with the remaining 20% owned by Noble Mineral Exploration Inc., located 22 km east of Crawford, 20 km south of Cochrane , and 45 km northeast of Timmins , covering the Mann Township. Within the property, there are three large ultramafic bodies, each of which has a target geophysical footprint larger than the 1.6 km 2 footprint of Crawford. Mann Northwest has a target footprint of 6.0 km 2 ; Mann Central is 3.1 km 2 , and Mann Southeast is 4.1 km 2 . To support the on-going exploration efforts at the Mann property, metallurgical test work has been initiated.

Table 1 summarizes the recovery results of the first two open circuit tests from the Mann Northwest property on samples with head grades of 0.29% and 0.30% nickel. The samples were tested at a third-party lab to evaluate the metallurgical potential of the property. Both samples delivered strong recovery performance, with total nickel recoveries of 58% and 59% and iron recoveries of 44% and 48%. Cobalt recoveries were 15% and 28% and chromium recoveries were 10% in both tests.  More than half of the recovered nickel was recovered to nickel concentrates with an average grade greater than 38% nickel. Iron concentrate grades averaged 58% and 62% iron in the two tests. The Company will follow a similar metallurgical program path as it did with Crawford and begin a variability open circuit testing program to confirm operating parameters and performance and then begin locked cycle testing to confirm metallurgical performance and concentrate grades and recovery to be used in future engineering studies.

Table 1. Open Circuit Test Results


Head Grades


Recovery


Ni

(%)

Co

(%)

S

(%)

Fe

(%)

Cr

(%)

Ni

(%)

Co

(%)

Fe

(%)

Cr

(%)

Sample 1

0.29

0.012

0.04

6.3

0.37

59

28

44

10

Sample 2

0.30

0.011

0.13

6.4

0.50

58

15

48

10

The samples were selected as higher grade, well-serpentinized dunite samples and confirmed the potential to transfer the Crawford metallurgical process to the Mann ultramafic nickel mineralization. The standard test procedure from the Crawford Feasibility Variability Program was used including grind sizes, reagent dosing strategies and flowsheet layout.

Sample Location

Figure 1 shows the plan view of the Mann properties with the "X" markers indicating where the samples were taken from. Sample 1 was taken from drill hole MAN23-03 from 200 to 273 meters and Sample 2 was taken from MAN23-02 from 112 to 164 meters.

Figure 1 – Plan View of Mann – Drill Results and Sample Location Overlain on Total Magnetic Intensity

Figure 1. Plan View of Mann - Drill Results and Sample Location Overlain on Total Magnetic Intensity (CNW Group/Canada Nickel Company Inc.)

Qualified Person and Data Verification

Arthur G. Stokreef , P.Eng (ON), Manager of Process Engineering & Geometallurgy and a "qualified person" as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

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.

Cautionary Note and Statement Concerning Forward Looking Statements

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, the metallurgical potential of the Mann properties including recoveries and concentrate qualities, the economic viability of the Mann property drill and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and 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.  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.  Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Canada Nickel Company Inc. logo (CNW Group/Canada Nickel Company Inc.)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-achieves-initial-metallurgical-success-at-mann-northwest-property-302143061.html

SOURCE Canada Nickel Company Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/13/c7069.html

News Provided by Canada Newswire via QuoteMedia

CNC:CA
The Conversation (0)
Canada Nickel Achieves Best Drill Results to Date at Reid

Canada Nickel Achieves Best Drill Results to Date at Reid

Highlights

  • Best Reid interval to date – 661 metres of 0.29% nickel including 100 metres of 0.42% nickel and 40 metres of 0.51% nickel in REI-24-35
  • All 8 holes targeting Reid Central Core intersected core lengths greater than 620 metres with average grades of 0.21% to 0.29% nickel

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce positive assay results from its ongoing 2024 exploration program at its Reid property, located 37 kilometres northwest of Timmins, Ontario .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Canada Nickel Announces Results from Crawford PGM Zone Infill Drilling Campaign

Canada Nickel Announces Results from Crawford PGM Zone Infill Drilling Campaign

Highlights

  • Successful infill drilling campaign targeted PGM Zones at Crawford with 45 holes intersecting drill intervals of > 1g/t palladium + platinum
  • Results include:
    • 2.19 g/t palladium + platinum over core length of 76.5 metres in Crawford Main Zone including 3.90 g/t over core length of 13.5 metres
    • 1.15 g/t palladium + platinum over 38.5 metres in Crawford East Zone including 2.94 g/t over core length of 4.5 metres
  • PGM results will be included in development of a Crawford PGM Zone resource estimate and incorporated into the Crawford nickel mine plan

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced additional results from its drilling program targeting the PGM zones that occur along the Crawford Main and East Zone boundaries and within the existing mine plan outlined in the Crawford Nickel Project feasibility study.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canada Nickel Provides Update on Crawford Project Optimization and Commencement of Pilot Plant Operation

Canada Nickel Provides Update on Crawford Project Optimization and Commencement of Pilot Plant Operation

Highlights

  • Testwork demonstrates opportunity for improvements in recovery from the Crawford East Zone
    • Locked cycle test delivered a 60% nickel sulphide concentrate – believed to be world's highest nickel grade sulphide concentrate produced – and a total nickel recovery of 47% exceeding the feasibility study model by 9%
    • Ten new open circuit variability tests demonstrated nickel recoveries averaging 28% higher than the feasibility study model
  • Pilot plant program initiated at SGS Lakefield

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV:CNC) (OTCQX:CNIKF) is pleased to announce the successful completion of further metallurgical testing on Crawford East Zone material.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canada Nickel Company Announces Initial Deloro Nickel Sulphide Project Resource

Canada Nickel Company Announces Initial Deloro Nickel Sulphide Project Resource

Highlights:

  • First of seven new nickel resources expected to be published by end of the first quarter of 2025 demonstrating the potential scale of the Timmins Nickel District
  • Initial Deloro indicated Resource of 81 million tonnes grading 0.25% nickel containing 202kt of nickel plus a further Inferred Resource of 357 million tonnes grading 0.25% nickel containing 885kt of nickel
  • Seven exploration rigs currently drilling across the Timmins Nickel District

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQB: CNIKF) today announced an initial mineral resource for its 100% owned Deloro Nickel Sulphide Project ("Deloro") near Timmins, Ontario .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced that it has closed a secured loan facility with Auramet International, Inc. ("Auramet") of US$15 million previously announced on June 24, 2024 .

Canada Nickel Company Inc. logo (CNW Group/Canada Nickel Company Inc.)

The loan is due January 9, 2025 , carries an interest rate of 1.00% per month, and is subject to a 2.5% arrangement fee.  At closing, Auramet also received 750,000 1-year warrants with a strike price of $1.42 per common share. The loan is subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares are subject to a four month hold period under applicable Canadian securities laws. The Company expects to use the proceeds from the loan for working capital purposes.

About Auramet

Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 million ounces of PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. Auramet is proud to have been awarded a Gold Medal the past two years for its ESG commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies. For more information on Auramet, please visit www.auramet.com .

About Canada Nickel Company

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™, NetZero Cobalt™, NetZero Iron™ 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:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

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, the use of proceeds from the loan, the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-closes-previously-announced-us15-million-loan-facility-with-auramet-international-inc-302192435.html

SOURCE Canada Nickel Company Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/09/c7393.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver47 Announces Trading on the TSX-V  and Provides Project Summaries

Silver47 Announces Trading on the TSX-V and Provides Project Summaries

Silver47 Exploration Corp. (TSXV: AGA) ("Silver47" or the "Company), is pleased to announce that its common shares will begin trading on the TSX Venture Exchange (the "TSXV") effective at the open of trading today.

Silver47 wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the US: the flagship Red Mountain silver-gold-zinc-copper-lead VMS-SEDEX Project in southcentral Alaska; the Adams Plateau ‎silver-zinc-copper-gold-lead SEDEX-VMS Project in southern British Columbia, and the Michelle ‎silver-lead-zinc-gallium-antimony MVT-SEDEX Project in Yukon Territory.‎

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FPX Nickel Rock Sampling Program Establishes Mich Property as Compelling Large-Scale Target with Surface Grades Comparable to Flagship Baptiste Nickel Project

FPX Nickel Rock Sampling Program Establishes Mich Property as Compelling Large-Scale Target with Surface Grades Comparable to Flagship Baptiste Nickel Project

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of a grid-based rock sampling program at the 100% owned Mich property in the Yukon territory.  This program has both expanded the footprint of known awaruite mineralization and identified new areas of awaruite mineralization beyond the previous claims boundary. Based on the expanded database of Mich rock sampling results, the grade profile of surface rock samples at Mich is now considered comparable with similar samples at FPX's flagship Baptiste Nickel Project (" Baptiste ") in British Columbia .

Highlights

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
RETRANSMISSION: Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

RETRANSMISSION: Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from latest five step-out holes of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Intersects 8.7m of 23.9% Zn+Pb and 85 g/t Ag; Expands Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from latest five step-out holes of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Vertex Minerals Limited  Progress Update at High-Grade Reward Gold Mine

Vertex Minerals Limited Progress Update at High-Grade Reward Gold Mine

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce an update on the Reward Gold mine start up, with the refurbished Gekko plant arriving this week along with a team of trades people to install and commission the plant. Further the site infrastructure has been redeveloped with a number of improvements to roads and tails line implemented.

HIGHLIGHTS

- Civils completed.

- Gekko have commenced mobilising the Gekko Gravity Gold plant from Ballarat to the Mine site.

- Recently purchased LM 90 Drill Rig has been mobilised from Kalgoorlie to the Mine site.

- Mobile fleet purchased and on site.

o Light vehicles, heavy 6wd truck, 4wd Dual cab light truck, Integrated tool carrier, underground loader, underground haul truck, excavator

- Fixed plant purchased and on site.

o Underground fans
o Transformers
o Fuel Infrastructure
o Replacement piping for slurry and water reclaim

- General Manager and Mine Manager has commenced employment on site.

- Road infrastructure upgraded.

- Portal entry and ore handling area refurbished and expanded.

- Vertex on track for January commissioning of the plant.

The Reward Gold Mine is well placed for a simple start -up:

- The new processing plant will be constructed adjacent to the underground mine portal (640 Level) and over the existing footprint of the existing plant.

- The 640 Level extends into the resource and no stripping required with the revised mine plan.

- Second egress in place with existing ladder way from 640 Level to surface.

- Some underground fleet and utility services are already owned by Vertex. With new fleet arriving.

- The New plant will be utilising the existing services and infrastructure:

o Gold Room
o Water systems
o Power generation
o Offices
o Change Rooms
o Workshop
o Storeroom
o Crib Room
o Jaw Crusher
o Access Roads
o Security System

Commenting on the progress, Vertex Executive Chairman Roger Jackson said: "We are very pleased with the progress so far with the redevelopment of the Reward Mine and the refurbishment of the Gravity Gold plant, given we have done this with a very small capital budget and a very wet season. I would like to acknowledge our team at Hill End, headed up by our Director Declan Franzmann and Maintenance Manger Jeff Williams who have worked tirelessly on this project to get it to this point.

Further I would like to express our gratitude to the efforts made by Gekko on their professionalism in taking a second-hand plant and refurbishing it to an excellent standard within a very short lead time.

We are now all-hands-on-deck to get ore into the plant and be producing gold bars in January."



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
World Copper Files Amended Resource Estimate and Technical Report for Updated Resource Estimate for the Zonia Project

World Copper Files Amended Resource Estimate and Technical Report for Updated Resource Estimate for the Zonia Project

Provides ATM Quarterly Report

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated July 17, 2024 to its short form base shelf prospectus and amended and restated short form base shelf prospectus dated June 7, 2024

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×