High Tech Metals Limited

HTM Acquires Historical Nickel Sulphide Project - Canada

High-Tech Metals Limited (ASX: HTM) (High-Tech, HTM or the Company) is pleased to announce it has entered into an agreement to acquire the Norpax Deposit (Norpax) and acquired an option to purchase the Reynar Lake Project (Reynar Lake) (Together, the Projects) which are both located in Ontario, Canada. The Projects are directly west and adjoin the Company’s existing project, Werner Lake Project (Werner Lake, or the Project), located in northwestern Ontario.


HIGHLIGHTS

The Company has significantly increased its exposure to nickel sulphides and copper through the following acquisition and option agreement:

Norpax Nickel Sulphide Deposit:

  • A historical non-JORC compliant resource of 1,010,000 tonnes 1.2% Ni and 0.5% Cu1.*
    *The historical estimates are not reported in accordance with the JORC codes. A competent person has not done sufficient work to classify the historical estimates as a mineral resource in accordance with JORC Code. It is uncertain that following further exploration work that the historical estimates will be able to be reported as mineral resources within the JORC Code.
  • The deposit lies ~1 km west of HTM’s existing project, Werner Lake, and along the Werner Lake Belt.
  • The Norpax nickel mineralisation sits on a known mineralised fault zone, the regional scale Werner-Gordon-Rex lake fault which extends from Rayner Lake in the west, passing under Almo Lake, east through the Werner Lake Co and Gordon Lake Cu-Ni deposits to Rex Lake.
  • Mineralised peridotite is known to host many significant nickel deposits such as companies Mincor Resources Ltd in Kambalda and also Azure Minerals Ltd (ASX:AZS) Andover project’s ultramafic zone, which is in part peridotite.**
  • The area has a rich history in nickel sulphide mines with the old Gordon Lake Mine located 3.5 km to the East of Werner Lake, which produced 1,370,285 tons averaging 0.92% Ni and 0.47% Cu and has existing reserves of 170,420 tonnes averaging 0.85% Ni and 0.35% Cu2.

Reynar Lake Ni-Cu-Co Project:

  • Reynar Lake project immediately adjoins HTM’s Werner Lake Project.
  • The ground is highly prospective for Ni, Cu and Co and should the option be exercised, it will provide HTM with additional landholding to potentially increase its cobalt resource and explore for additional nickel sulphide mineralisation.

The Company plans to build on the recent exploration success at Werner Lake by immediately begin planning exploration on the newly acquired Projects.

The acquisition of the Projects increases HTM’s landholding in the Werner Lake Area and the Company’s exposure to battery metals such as copper, cobalt, and nickel.

Figure 1 – Location of Mineral Deposits in the Werner Lake Belt.

Sonu Cheema, Executive Director commented:

"We are excited by the acquisition of Norpax and the option over Reynar Lake with the potential for a nickel discovery in a historic nickel producing province of Canada. Not only do the acquisitions increase our exposure to nickel, but it also increases the Company’s land holding substantially making High-Tech one of the largest land holders in the area.

“As the Projects lay in the area of Werner Lake, the Company’s geological team are familiar with the geological setting. This has been recently proven by the Company’s discovery of high-grade samples of nickel sulphide (that exceeded assay detection limits) in the Werner Lake Project.

“The Company plans to utilise its expertise in the area by undertaking a review of all available geological data, performing a systematic geochemical sampling program of known mineral occurrences on the projects in conjunction with reconnaissance geological mapping and relog and assay all known and available core.”


Click here for the full ASX Release

This article includes content from High-Tech Metals, 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.

HTM:AU
High-Tech Metals

High-Tech Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
High-Tech Metals (ASX:HTM)

High-Tech Metals


Keep reading...Show less
Edison Lithium Proceeds with Warrant Repricing

Edison Lithium Proceeds with Warrant Repricing

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it is proceeding with the proposed warrant amendments initially announced on September 6, 2023. The Company had previously announced the cancellation of the proposed warrant amendments on January 2, 2024, but after further consideration and additional consultation with the TSX Venture Exchange ("TSX-V"), the Company will proceed to amend the exercise terms of an aggregate 3,926,125 common share purchase warrants out of a possible 4,048,000 warrants issued pursuant to private placements that closed on February 26, 2021, May 7, 2021 and May 28, 2021, subject to TSX-V final approval.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fortune Minerals (TSX:FT)

Fortune Minerals


Keep reading...Show less
Edison Lithium Announces Mailing and Filing of Addendum to Meeting Materials for Annual General and Special Meeting and Advises of Updates to Arrangement Terms

Edison Lithium Announces Mailing and Filing of Addendum to Meeting Materials for Annual General and Special Meeting and Advises of Updates to Arrangement Terms

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce, further to its news releases dated March 28, 2023, July 13, 2023, November 28, 2023 and December 7, 2023, that it has mailed, using notice-and-access procedures, an addendum (the "Addendum") to the management information circular (the "Circular") and related meeting materials for the annual general and special meeting (the "Meeting") of the Company's shareholders, warrantholders and optionholders (together, the "Securityholders") to be held in connection with the proposed transaction pursuant to which the Company will spin out common shares of its wholly owned subsidiary, Edison Cobalt Corp. ("SpinCo"), to its shareholders by way of statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the "Arrangement").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
High Tech Metals Limited

HTM Quarterly Activities Report for the Period Ending 31 December 2023

High-Tech Metals Limited (ASX: HTM) (High-Tech, HTM or the Company), a critical battery minerals exploration Company, is pleased to provide the following report on its activities for the quarter ending 31 December 2023. The Company’s primary activities during the quarter were the staking of the Ketele LCTG Project in Ethiopia and the diamond drilling program at the wholly owned Werner Lake Project (Werner Lake, or the Project) located in northwestern Ontario.

Keep reading...Show less

Sherritt Provides Notice of Fourth Quarter and Full Year 2023 Results Conference Call

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its fourth quarter and full year 2023 results after market close on February 7, 2024. Senior management will host a conference call and webcast on February 8, 2024 at 10:00 am ET to review Sherritt's fourth quarter and full year 2023 financial and operational performance.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
High Tech Metals Limited

HTM Ethiopia Field Team to Progress Exploration Sampling at Ketele LCT Project

High-Tech Metals Limited (ASX: HTM) (High-Tech, HTM or the Company), a critical battery minerals exploration company, recently announced that the Company had been granted the Ketele LCT Project (“Ketele” or the “Project”, Figure 1) (MOM-EL-05096-2023) in Ethiopia (Refer ASX Release dated 5 December 2023) and further announces the pending commencement of its first exploration of the Project.

Keep reading...Show less
High-Tech Metals

High-Tech Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×