Khalkos Exploration Inc. (TSXV:KAS) announced that it has signed a letter of agreement granting them the option to fully acquire the Poissons Blancs property, host of the nickel-copper-cobalt McNickel deposit.

As quoted in the press release:

This deposit, discovered in 1977 with more fieldwork undertaken in the 80s, is deemed to contain historical resources of 5.9 million tonnes with grades of 0.21% Ni, 0.11% Cu and 0.03% Co (NI 43-101 non-compliant resource). Although the deposit has low grades, its acquisition is justified by the hypothesis that open pit mining would be viable through new metallurgical processing techniques. Moreover, the current data demonstrate an excellent potential to significantly increase the resources by continuing the drilling on another zone that’s already known, at the north of the main zone.

To view the whole press release, click here.