NiCAN Intersects a New Mineralized Zone Near Surface at the Wine Project in Manitoba, Including 9.8 Metres at 1.92% Nickel Equivalent

NiCAN Intersects a New Mineralized Zone Near Surface at the Wine Project in Manitoba, Including 9.8 Metres at 1.92% Nickel Equivalent

 
 

NICAN Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to report additional diamond drill assay results from the Wine project in Manitoba intersecting a new mineralized zone near surface. These drill holes, Wine-22-06 and Wine-22-07, were part of NiCAN's initial drilling campaign at the Wine project.

 

  Highlights (complete assays set out in Tables 2 and 3) :  

 
  •   New mineralized zone intersected near surface.  
  •  
  •   Diamond drill hole Wine-22-06 intersected two distinct zones of mineralization including 9.8 metres at 2.09% Cu, 1.23% Ni (1.92% NiEq), 0.051% Co, 0.33 g/t Au, 0.016 g/t Pt and 0.12 g/t Pd from 7.4 metres to 17.1 metres.  
  •  
 
 
 

  Note: Nickel Equivalent ("NiEq") was calculated using copper and nickel values only.  

 
 
 

 

 

  Table   1   :   Composite Assays Wine-22-06 and Wine-22-07  

 
 
                                                 
 

    Drill Hole
ID
 
 

 
 

    From
(m)
 
 

 
 

    To
  (m)  
 
 

 
 

    Thickness
(m)
 
 

 
 

    Cu
(%)
 
 

 
 

    Ni
  (%)  
 
 

 
 

    NiEq
(%)
 
 

 
 

    Co
(%)
 
 

 
 

    Au
  (g/t)  
 
 

 
 

    Pt
  (g/t)  
 
 

 
 

    Pd
(g/t)
 
 

 

 

    PGM
  (g/t)  
 
 

 
 

  Wine-22-06  

 
 

  7.4  

 
 

  17.1  

 
 

  9.8  

 
 

  2.09  

 
 

  1.23  

 
 

  1.92  

 
 

  0.05  

 
 

  0.33  

 
 

  0.02  

 
 

  0.12  

 
 

  0.47  

 
 

  Wine-22-06  

 
 

  32.3  

 
 

  35.4  

 
 

  3.1  

 
 

  0.81  

 
 

  0.62  

 
 

  0.89  

 
 

  0.03  

 
 

  0.12  

 
 

  0.00  

 
 

  0.13  

 
 

  0.25  

 
 

  Wine-22-07  

 
 

  9.0  

 
 

  14.0  

 
 

  5.0  

 
 

  0.59  

 
 

  0.23  

 
 

  0.42  

 
 

  0.01  

 
 

  0.10  

 
 

  0.04  

 
 

  0.07  

 
 

  0.21  

 
 
 
 

 

 

  Brad Humphrey , President and CEO of NiCAN, commented, "The initial diamond drill program at Wine was focused on improving our understanding of the mineralization at the Wine Occurrence. Intersecting additional lenses or pods of mineralization, particularly near surface, is an extremely welcome development. This also supports our view that the Wine gabbro could host several nickel rich pods. NiCAN remains in a strong position with a solid balance sheet and highly prospective nickel-copper assets in stable jurisdictions."

 
  Wine-22-06  
 

  Drill hole Wine-22-06 encountered a newly defined lens of nickel mineralization in the upper part of the drill hole, which averaged 1.92% NiEq over 9.8 metres (estimated true width of 6.5 metres). Sulphide mineralization consisted of semi-massive to disseminated pyrrhotite and chalcopyrite with significant copper mineralization near the base of the zone. It is expected that this lens of mineralization will sub-crop.

 

In addition to the newly defined zone, the drill hole intersected a continuation of a lens of mineralization found in the upper part of drill hole Wine-22-05 (4.1 metres averaging 1.03% Cu, 0.96% Ni (1.31% NiEq)) with 3.1 metres averaging 0.81% Cu, 0.62% Ni (0.89% NiEq), 0.025% Co and 0.25 g/t PGM from 32.3 to 35.4 metres (estimated true width of 2.0 metres) (Figure 1). The drill hole did not intersect the main lens of mineralization found in historical holes and Wine-22-05 as it was too shallow in depth.

 

All mineralized intersections were hosted by gabbro. The lower intersection in Wine-22-07 was hosted by the distinct light-coloured gabbro that is associated with the main mineralized gabbro zone.

 
 

  Figure 1: Drill Holes Wine-22-06 and Wine-22-07 in Relation to Drill Holes Wine-22-05 and Wine-22-02 in a Cross Section Looking Towards the South (180⁰) (CNW Group/Nican Ltd.) 

 
 
  Wine-22-07  
 

Drill hole Wine-22-07 (-60⁰) was drilled directly under drill hole Wine-22-06 (-45⁰) with the intent of intersecting the main zone of mineralization defined in drill hole Wine-22-05. The drill hole intersected the base of the newly defined shallow mineralization seen in Wine-22-06 (5.0 metres averaging 0.59% Cu, 0.23% Ni (0.42% NiEq), 0.01% Co and 0.21 g/t PGM from 9.0 to 14.0 metres). The Wine-22-07 intersection averaged 0.42% NiEq over an estimated true width of 3.3 metres. The upper lens may have a strike of 330⁰ and may correlate to anomalous copper mineralization seen in the upper parts of historical drill holes EEL-346 and RAD07-01. The main mineralized lens is currently interpreted to have a strike of 30⁰ (Figure 2 and 3).

 

Drill hole Wine-22-07 did not intersect the main zone as it passed through a gap between the upper lens and the main lens.

 
 

  Figure 2: Plan View of Drill Collars and Traces in the Wine Occurrence Area (CNW Group/Nican Ltd.) 

 
 
 

  Figure 3: Drill Holes Wine-22-06 and Wine-22-07 Presented in a Cross Section Looking Southwest (210⁰) with Historical Holes* (CNW Group/Nican Ltd.) 

 
 
 
 
 

  * Historical drill hole assays are listed in Table 4  

 
 
 
 

  Figure 4: Upper Mineralized Zone in Drill Hole Wine-22-06 with Assay Intervals Marked (CNW Group/Nican Ltd.) 

 
 
  2022 Exploration Program  
 

The 56.8 km 2 Wine property is located west of Snow Lake in Manitoba (Figure 5). The initial 2022 exploration program included an airborne geophysical survey, partial resampling of a historical drill hole, downhole geophysical (electro-magnetic) surveys and 17 diamond drill holes, 1,600 metres in total, testing an area known as the Wine Occurrence, as well as seven other nearby geophysical anomalies (Figure 6). The objective of this program was to confirm the presence of nickel-copper mineralization at the Wine Occurrence and improve NiCAN's understanding of the geological model and the orientation of the mineralization, which will be used to better target future drilling programs.

 

NiCAN anticipates receiving and releasing additional assay and geophysical survey results, following quality control, over the next several weeks. The results from this initial exploration work will be used to refine the geological model and to design a follow up Phase 2 exploration program.

 
  Assay, Analysis and QA/QC  
 

All core samples were sent to the Saskatchewan Research Council ("SRC") in Saskatoon (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 package, which includes a total of 35 analytes by ICP-OES (Inductively Coupled Plasma – Optical Emission Spectroscopy). Partial digestions were performed on a 0.5 gram aliquot of sample pulp which was digested in a mixture of HCl:HNO3, in a hot water bath and then diluted to 15 ml using deionized water. Over-limits for copper, nickel and cobalt had an aliquot of 1.0 gram sample pulp digested in a concentration of HCl:HNO3. The digested volume was then made up with deionized water for analysis by ICP-OES. Fire Assay Techniques involved a 30 gram aliquot of sample pulp which was mixed with a standard fire assay flux in a clay crucible and a silver inquart added prior to fusion. After the mixture was fused, the melt was poured into a form which was cooled. The lead bead was then recovered and cupelled until only the precious metal bead remained. The bead was then parted in dilute HNO3. The precious metals were then dissolved in aqua regia and then diluted for analysis by ICP-OES

 

Laboratory Quality Control protocols were applied to the assay sample package by SRC. NiCAN submitted a regular schedule of standards, blanks and duplicates into the sample stream for Quality Control measures. Drill core samples are split in half using a diamond saw with half saved for reference and the other half shipped for assay. In the case of duplicate samples the half core is quarter split with the two quarter splits sent for separate assay.

 

NiCAN does not have any historic QA/QC data for the 2007 or earlier drill results.

 
  Qualified Person  
 

Mr. Bill Nielsen , P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this press release.

 
  Investor Awareness Campaign  
 

 NICAN Limited has entered into an advertising and investor awareness campaign with Dig Media Inc. and Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada , dedicated to providing independent news and education to investors since 2007. For the 12-month term of the agreement, INN will provide advertising to increase awareness of the issuer. INN does not provide Investor Relations or Market Making services. The cost of the campaign is C$49,410 , payable in quarterly installments over the term of the agreement. INN currently holds no securities in NICAN Limited.

 
  About NiCAN  
 

  NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba, Canada .

 

  To receive news releases by e-mail, please register using the NiCAN website at    www.nicanltd.com    .  

 
  Cautionary Note Regarding Forward-Looking Statements  
 

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NICAN Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

 

  Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.  

 
 

  Figure 5: Wine Project Location (CNW Group/Nican Ltd.) 

 
 
 

  Figure 6: Historical Drill Hole and 2022 Drill Hole Locations (CNW Group/Nican Ltd.) 

 
 
 
 
 

  Note: Wine-22-06 and Wine-22-07 were drilled from the same drill pad  

 
 
 

 

 

  Table   2   :   Diamond Drill Hole Wine-22-06 Assay Results  

 
 
                                                                                                                                                                                                                                                                                                            
 

    Drill Hole
ID
 
 

 
 

    From
(m)
 
 

 
 

    To
(m)
 
 

 
 

    Length
(m)
 
 

 
 

    Co
(%)
 
 

 
 

    Cu
(%)
 
 

 
 

    Ni
(%)
 
 

 
 

    Au
(g/t)
 
 
 

 
 

    Pt
  (g/t)  
 
 

 
 

    Pd
(g/t)
 
 
 

 
 

    Ag
  (g/t)  
 
 

 
 

    PGM
  (g/t)  
 
 

 
 

    NiEq
(%)
 
 

 
 

  Wine 22-6  

 
 

  6.4  

 
 

  7.4  

 
 

  1.0  

 
 

  -  

 
 

  0.08  

 
 

  0.04  

 
 

  0.01  

 
 

  -  

 
 

  0.02  

 
 

  0.70  

 
 

  0.03  

 
 

  0.07  

 
 

  Wine 22-6  

 
 

  7.4  

 
 

  8.3  

 
 

  0.9  

 
 

  0.03  

 
 

  0.22  

 
 

  0.65  

 
 

  0.01  

 
 

  -  

 
 

  0.20  

 
 

  1.40  

 
 

  0.21  

 
 

  0.73  

 
 

  Wine 22-6  

 
 

  8.3  

 
 

  9.0  

 
 

  0.8  

 
 

  0.10  

 
 

  1.72  

 
 

  2.08  

 
 

  0.22  

 
 

  -  

 
 

  0.23  

 
 

  7.50  

 
 

  0.46  

 
 

  2.65  

 
 

  Wine 22-6  

 
 

  9.0  

 
 

  10.0  

 
 

  1.0  

 
 

  0.11  

 
 

  1.20  

 
 

  3.67  

 
 

  0.06  

 
 

  0.04  

 
 

  0.15  

 
 

  4.00  

 
 

  0.25  

 
 

  4.07  

 
 

  Wine 22-6  

 
 

  10.0  

 
 

  11.0  

 
 

  1.0  

 
 

  0.09  

 
 

  1.74  

 
 

  2.10  

 
 

  0.15  

 
 

  0.02  

 
 

  0.12  

 
 

  7.30  

 
 

  0.30  

 
 

  2.68  

 
 

  Wine 22-6  

 
 

  11.0  

 
 

  12.0  

 
 

  1.0  

 
 

  0.07  

 
 

  1.40  

 
 

  1.77  

 
 

  0.08  

 
 

  -  

 
 

  0.11  

 
 

  5.80  

 
 

  0.19  

 
 

  2.24  

 
 

  Wine 22-6  

 
 

  12.0  

 
 

  13.0  

 
 

  1.0  

 
 

  0.04  

 
 

  1.06  

 
 

  0.93  

 
 

  0.07  

 
 

  0.06  

 
 

  0.11  

 
 

  5.90  

 
 

  0.25  

 
 

  1.29  

 
 

  Wine 22-6  

 
 

  13.0  

 
 

  14.0  

 
 

  1.0  

 
 

  0.01  

 
 

  1.71  

 
 

  0.17  

 
 

  0.37  

 
 

  -  

 
 

  0.11  

 
 

  7.70  

 
 

  0.48  

 
 

  0.74  

 
 

  Wine 22-6  

 
 

  14.0  

 
 

  15.0  

 
 

  1.0  

 
 

  0.03  

 
 

  4.62  

 
 

  0.71  

 
 

  1.01  

 
 

  0.05  

 
 

  0.07  

 
 

  20.40  

 
 

  1.13  

 
 

  2.24  

 
 

  Wine 22-6  

 
 

  15.0  

 
 

  16.0  

 
 

  1.0  

 
 

  0.04  

 
 

  3.55  

 
 

  0.93  

 
 

  0.70  

 
 

  -  

 
 

  0.08  

 
 

  21.20  

 
 

  0.79  

 
 

  2.11  

 
 

  Wine 22-6  

 
 

  16.0  

 
 

  16.5  

 
 

  0.5  

 
 

  -  

 
 

  0.80  

 
 

  0.04  

 
 

  0.28  

 
 

  -  

 
 

  0.01  

 
 

  3.50  

 
 

  0.29  

 
 

  0.31  

 
 

  Wine 22-6  

 
 

  16.5  

 
 

  17.1  

 
 

  0.6  

 
 

  0.01  

 
 

  5.60  

 
 

  0.19  

 
 

  0.69  

 
 

  -  

 
 

  0.05  

 
 

  23.40  

 
 

  0.73  

 
 

  2.06  

 
 

  Wine 22-6  

 
 

  17.1  

 
 

  18.0  

 
 

  0.9  

 
 

  0.01  

 
 

  0.28  

 
 

  0.14  

 
 

  0.01  

 
 

  -  

 
 

  0.04  

 
 

  1.50  

 
 

  0.05  

 
 

  0.24  

 
 

  Wine 22-6  

 
 

  31.0  

 
 

  32.3  

 
 

  1.3  

 
 

  -  

 
 

  0.03  

 
 

  0.01  

 
 

  -  

 
 

  -  

 
 

  0.01  

 
 

  1.30  

 
 

  0.01  

 
 

  0.02  

 
 

  Wine 22-6  

 
 

  32.3  

 
 

  33.0  

 
 

  1.0  

 
 

  0.02  

 
 

  0.75  

 
 

  0.61  

 
 

  0.12  

 
 

  -  

 
 

  0.11  

 
 

  5.90  

 
 

  0.23  

 
 

  0.85  

 
 

  Wine 22-6  

 
 

  33.0  

 
 

  34.0  

 
 

  1.0  

 
 

  0.03  

 
 

  1.18  

 
 

  0.63  

 
 

  0.17  

 
 

  -  

 
 

  0.14  

 
 

  7.00  

 
 

  0.31  

 
 

  1.02  

 
 

  Wine 22-6  

 
 

  34.0  

 
 

  34.7  

 
 

  0.7  

 
 

  0.02  

 
 

  0.51  

 
 

  0.45  

 
 

  0.06  

 
 

  -  

 
 

  0.09  

 
 

  3.20  

 
 

  0.15  

 
 

  0.62  

 
 

  Wine 22-6  

 
 

  34.7  

 
 

  35.4  

 
 

  0.7  

 
 

  0.02  

 
 

  0.40  

 
 

  0.40  

 
 

  0.05  

 
 

  -  

 
 

  0.10  

 
 

  2.70  

 
 

  0.15  

 
 

  0.53  

 
 

  Wine 22-6  

 
 

  35.4  

 
 

  36.0  

 
 

  0.6  

 
 

  -  

 
 

  0.05  

 
 

  0.01  

 
 

  -  

 
 

  -  

 
 

  -  

 
 

  0.10  

 
 

  -  

 
 

  0.03  

 
 

  Wine 22-6  

 
 

  36.0  

 
 

  36.3  

 
 

  0.3  

 
 

  -  

 
 

  0.02  

 
 

  0.01  

 
 

  -  

 
 

  -  

 
 

  -  

 
 

  0.10  

 
 

  -  

 
 

  0.02  

 
 

  Wine 22-6  

 
 

  36.3  

 
 

  37.1  

 
 

  0.8  

 
 

  0.01  

 
 

  0.80  

 
 

  0.22  

 
 

  0.05  

 
 

  -  

 
 

  0.08  

 
 

  4.80  

 
 

  0.14  

 
 

  0.49  

 
 

  Wine 22-6  

 
 

  37.1  

 
 

  38.1  

 
 

  1.0  

 
 

  -  

 
 

  0.26  

 
 

  0.02  

 
 

  0.01  

 
 

  -  

 
 

  0.01  

 
 

  2.40  

 
 

  0.02  

 
 

  0.11  

 
 
 
 
 
 
 

  Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)  

 
 
 

 

 

  Table   3   : Diamond Drill Hole Wine-22-07 Assay Results  

 
 
                                                                                                                      
 

    Drill Hole
  ID  
 
 

 
 

    From
  (m)  
 
 

 
 

    To
(m)
 
 

 
 

    Length
(m)
 
 

 
 

    Co
(%)
 
 

 
 

    Cu
(%)
 
 
 

 
 

    Ni
(%)
 
 
 

 
 

    Au
(g/t)
 
 
 

 
 

    Pt
  (g/t)  
 
 

 
 

    Pd
(g/t)
 
 
 

 
 

    Ag
  (g/t)  
 
 

 
 

    PGM
(g/t)
 
 

 
 

    NiEq
(%)
 
 

 
 

  Wine 22-7  

 
 

  8.0  

 
 

  9.0  

 
 

  1.0  

 
 

  -  

 
 

  0.07  

 
 

  0.01  

 
 

  -  

 
 

  -  

 
 

  0.01  

 
 

  0.30  

 
 

  0.01  

 
 

  0.04  

 
 

  Wine 22-7  

 
 

  9.0  

 
 

  9.6  

 
 

  0.6  

 
 

  0.01  

 
 

  0.50  

 
 

  0.18  

 
 

  0.06  

 
 

  -  

 
 

  0.04  

 
 

  7.20  

 
 

  0.10  

 
 

  0.36  

 
 

  Wine 22-7  

 
 

  9.6  

 
 

  10.6  

 
 

  1.0  

 
 

  0.01  

 
 

  0.78  

 
 

  0.18  

 
 

  0.14  

 
 

  -  

 
 

  0.08  

 
 

  6.90  

 
 

  0.22  

 
 

  0.46  

 
 

  Wine 22-7  

 
 

  10.6  

 
 

  11.6  

 
 

  1.0  

 
 

  0.01  

 
 

  0.51  

 
 

  0.33  

 
 

  0.07  

 
 

  -  

 
 

  0.07  

 
 

  3.90  

 
 

  0.14  

 
 

  0.52  

 
 

  Wine 22-7  

 
 

  11.6  

 
 

  12.6  

 
 

  1.0  

 
 

  0.02  

 
 

  0.67  

 
 

  0.40  

 
 

  0.15  

 
 

  0.09  

 
 

  0.14  

 
 

  5.60  

 
 

  0.38  

 
 

  0.64  

 
 

  Wine 22-7  

 
 

  12.6  

 
 

  13.6  

 
 

  1.0  

 
 

  -  

 
 

  0.44  

 
 

  0.06  

 
 

  0.04  

 
 

  -  

 
 

  0.04  

 
 

  2.80  

 
 

  0.09  

 
 

  0.22  

 
 

  Wine 22-7  

 
 

  13.6  

 
 

  14.0  

 
 

  0.4  

 
 

  0.01  

 
 

  0.64  

 
 

  0.18  

 
 

  0.11  

 
 

  0.25  

 
 

  0.06  

 
 

  3.50  

 
 

  0.42  

 
 

  0.41  

 
 

  Wine 22-7  

 
 

  14.0  

 
 

  15.0  

 
 

  1.0  

 
 

  -  

 
 

  0.06  

 
 

  0.01  

 
 

  -  

 
 

  -  

 
 

  -  

 
 

  0.10  

 
 

  0.01  

 
 

  0.03  

 
 
 
 
 
 
 

  Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)  

 
 
 

 

 

  Table   4   : Historical Diamond Drill Hole Assay Composites  

 
 
                                                                                     
 

    Drill Hole
ID
 
 

 
 

    From
  (m)  
 
 

 
 

    To
  (m)  
 
 

 
 

    Length
  (m)  
 
 

 
 

    Co
(%)
 
 

 
 

    Ni
(%)
 
 

 
 

    Cu
  (%)  
 
 

 
 

    NiEq
  (%)  
 
 

 
 

    Au
(g/t)
 
 

 
 

    Pt
  (g/t)  
 
 

 
 

    Pd
  (g/t)  
 
 

 
 

    PGM
  (g/t)  
 
 

 
 

  RAD07-01  

 
 

  55.70  

 
 

  76.02  

 
 

  20.37  

 
 

  0.05  

 
 

  1.38  

 
 

  2.14  

 
 

  2.09  

 
 

  0.40  

 
 

  0.13  

 
 

  0.27  

 
 

  0.80  

 
 

  EEL-346  

 
 

  54.00  

 
 

  70.40  

 
 

  16.47  

 
 

  -  

 
 

  0.85  

 
 

  1.50  

 
 

  1.35  

 
 

  0.16  

 
 

  -  

 
 

  -  

 
 

  -  

 
 

  incl EEL-  

 

  346  

 
 

  60.32  

 
 

  70.41  

 
 

  10.10  

 
 

  -  

 
 

  1.13  

 
 

  1.81  

 
 

  1.73  

 
 

  0.15  

 
 

  0.10  

 
 

  0.29  

 
 

  0.54  

 
 

  EEL-302  

 
 

  51.51  

 
 

  64.43  

 
 

  12.82  

 
 

  -  

 
 

  0.52  

 
 

  0.97  

 
 

  0.84  

 
 

  0.21  

 
 

  0.12  

 
 

  0.16  

 
 

  0.49  

 
 

  incl EEL-  

 

  302  

 
 

  51.51  

 
 

  57.90  

 
 

  6.32  

 
 

  -  

 
 

  0.93  

 
 

  0.88  

 
 

  1.32  

 
 

  0.27  

 
 

  0.12  

 
 

  0.13  

 
 

  0.52  

 
 

  EEL-315  

 
 

  68.75  

 
 

  68.90  

 
 

  0.15  

 
 

  -  

 
 

  1.20  

 
 

  3.08  

 
 

  2.20  

 
 

  -  

 
 

  -  

 
 

  -  

 
 

  -  

 
 
 
 
 
 
 

  Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)  

 
 
 

 

 

  www.nicanltd.com  

 
 

  Nican Ltd. logo (CNW Group/Nican Ltd.) 

 
 

SOURCE Nican Ltd.

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/September2022/20/c7009.html  

 
 

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NiCAN Commences Drilling at Wine Nickel Property, Manitoba, Canada

NiCAN Commences Drilling at Wine Nickel Property, Manitoba, Canada

 
 

NiCan Limited ("NiCAN" or the "Company") (TSX-V: NICN) has commenced diamond drilling at its Wine Property located in the Snow Lake area, Manitoba, Canada (Figure 1). The drill rig has mobilized to site and is currently coring the first hole of the Phase Three ("Phase III") drilling program consisting of a minimum of 1,500 meters.

 
 

  Figure 1: Wine Project Location (CNW Group/Nican Ltd.) 

 
  Highlights:  
 
  •   Phase III drill program has commenced at the high-grade Wine Nickel Property with the following objectives:  
    •   To expand previously defined nickel-bearing zones to the east of the Wine Occurrence; and  
    •  
    •   To drill test newly expanded target areas of more than 6 km along strike.  
    •  
  •  
  •   Recent geophysical and soil geochemical results assisted in prioritizing multi-anomaly target areas for subsequent drill testing.  
  •  

    Brad Humphrey , President, and CEO of NiCAN commented, "We are very pleased to be back on the ground, drill testing several targets that we have interpreted to be on strike with the two mineralized horizons defined on the property to date. NiCAN remains in a strong position with a solid balance sheet and two highly prospective nickel sulfide projects in established mining jurisdictions."   

 

  Phase III Wine Drill Program  
 

At the Wine Project, NiCAN is drilling a minimum of 1,500 meters to test multiple conductive targets identified by recently completed surface time-domain electromagnetic ("TDEM"), borehole and surface surveys, combined with re-processed Versatile Time Domain Electromagnetic ("VTEM") airborne geophysical survey, which was completed in 2022 (see press release dated   November 14, 2022   ). Results from a geochemical survey, also completed earlier this year, assisted in prioritizing the drill targets. A significant number of conductive sources have been defined over a strike length of 6 kilometers that merit drill testing. These have been geophysically modelled and drill holes have been designed to effectively intersect the suspected sulphide bodies defined by these models.

 

The initial diamond drill targets are following up on mineralization intersected during the previous drill program that defined varying quantities of disseminated to massive sulphide nickel-bearing mineralization in a zone 650 meters east of the Wine Occurrence. Most notable were holes Wine 23-08 and Wine 23-07 in which varying degrees of pyrrhotite and chalcopyrite mineralization were intersected in two relatively shallow zones. Assay results returned elevated copper and nickel values over core lengths of more than 10 meters (see press releases dated   May 24, 2023   , and   June 21, 2023   ). NiCAN is currently following up on these new zones to better understand their orientation and extent.

 

The Phase III Wine drill program has two primary objectives. Initially, NiCAN anticipates expanding previously defined nickel-bearing zones located to the east of the Wine Occurrence. Downhole and TDEM surveys have defined multiple conductors along a distinct stratigraphic horizon within the Wine Gabbro. Humic soil geochemical results have shown anomalous Ni-Cu values associated with these electromagnetic ("EM") responses supporting additional drill testing.

 

The second objective of NiCAN's Phase III drill program is to identify additional nickel bearing mineralized zones associated with newly defined geophysical targets interpreted to be along strike from the Wine Occurrence by distances of up to 4.8 km. These are new targets that have not been drill tested in the past.

 

NiCAN continues to follow up on the significant results returned from previous diamond drilling, including:

 
  •   Diamond drill hole Wine 22-5 intersected 27.3 metres of 2.01% Ni, 1.81% Cu (2.28% NiEq)  
  •  
  •   Diamond drill hole Wine 22-6 intersected 9.8 metres of 1.23% Ni, 2.09% Cu (1.71% NiEq)  
  •  
  •   Diamond drill hole Wine 22-3 intersected 8.6 metres of 1.89% Ni, 1.01% Cu (1.92% NiEq)  
  •  
  •   Diamond drill hole Wine 23-16 intersected four zones of mineralization including 12.6 metres of 1.52% Ni, 2.01% Cu (1.93% NiEq)  
  •  
  •   Diamond drill hole Wine 23-17 intersected two zones of mineralization including 23.5 meters of 1.59% Ni, 1.76% Cu (1.91% NiEq)  
  •  

  Note: Nickel equivalent grades include nickel and copper values only and assume recoveries of 85% for nickel and 85% for copper based on comparable deposits. Nickel price: US$10.00 /lb; copper price  US$3.75 /lb.  

 
  Analogies to Historical Lynn Lake Nickel Deposits  
 

NiCAN believes that the nickel mineralization hosted by the Wine Gabbro may have analogies to the nickel-copper deposits in the Lynn Lake area where approximately 22.2 million tonnes averaging 1.0% nickel and 0.5% copper was historically mined. The Farley Mine consisted of multiple lenses of mineralization contained within a 4.2 km 2 gabbro body. The Wine Gabbro contains numerous similarities and has seen very little exploration for nickel-copper deposits.

 
  Qualified Person  
 

Mr. Bill Nielsen , P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this news release.

 
  About NiCAN  
 

  NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba, Canada .

 

  www.nicanltd.com  

 

  To receive news releases by e-mail, please register using the NiCAN website at    www.nicanltd.com   

 
  Cautionary Note Regarding Forward-Looking Statements  
 

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, interpretations of the various surveys, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

 

  Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.  

 

 

 
 

  Nican Logo (CNW Group/Nican Ltd.) 

 
 

SOURCE Nican Ltd.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2023/19/c4074.html  

 
 

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NiCAN Provides Details on Upcoming Drill Program at Wine Nickel Property, Manitoba, Canada

NiCAN Provides Details on Upcoming Drill Program at Wine Nickel Property, Manitoba, Canada

 
 

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to provide details on its upcoming Phase III drill program on the Wine Property, located in the Snow Lake area of Manitoba, Canada (Figure 3). Permits are in place, a drill contractor has been selected, and preparation work is underway. Initially, Phase III drilling will consist of a 1,500 to 2,000-meter diamond drilling program, which is scheduled to commence in October 2023 . The Phase III program will focus on expanding the recently identified nickel-bearing zones to the east of the Wine Occurrence and test newly defined geophysical targets along strike of the Wine Occurrence over distances of up to 4.8 km.

 

 

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NiCAN Identifies New Mineralized Zones at its Wine Nickel Property, Manitoba, Canada

NiCAN Identifies New Mineralized Zones at its Wine Nickel Property, Manitoba, Canada

 
 

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) has intersected multiple new zones of nickel–bearing mineralization to the east of the known high-grade nickel-copper ("Ni–Cu") Wine Occurrence during its Phase II drill program on the Wine Nickel Property in Manitoba, Canada (Figure 5). These new zones of mineralization significantly expand the exploration target area.

 
  Highlights:  
 
  •   New nickel bearing mineralized zones identified within the Wine Gabbro.  
  •  
  •   Initial interpretation suggests that these new mineralized zones may occupy a specific horizon within the central region of the Wine Gabbro. Geophysical anomalies (VTEM conductors) can be traced for several kilometers to the northeast and southwest along this trend.  
  •  
  •   Geophysical and geochemical surveys as well as diamond drilling are planned for the third quarter of 2023.  
  •  

   Brad Humphrey , President, and CEO of NiCAN, stated, "We are very happy with the results of the Wine Phase II drill program and the intersection of the new mineralized nickel bearing zones. Importantly, these new occurrences of disseminated and massive sulphides suggest the Wine Gabbro hosts multiple mineralized pods like those seen in the Lynn Lake area. Interpretive work indicates that there are several horizons within the Wine Gabbro that require testing with geophysics, geochemistry, and subsequent diamond drilling. NiCAN remains in a strong position with a solid balance sheet and highly prospective nickel sulphide projects in established mining jurisdictions."   

 

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NiCAN Receives $300,000 Grant from Manitoba Mineral Development Fund

NiCAN Receives $300,000 Grant from Manitoba Mineral Development Fund

 
 

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) has received approval for a $300,000 grant from the Manitoba Mineral Development Fund (the "MMDF") to support NiCAN's exploration activities at its Wine Project located in the Snow Lake Flin Flon area, Manitoba, Canada . The Company has received the first $150,000 of the grant, with the remainder expected in June 2023.

 
 

  Nican Logo (CNW Group/Nican Ltd.) 

 

  "NiCAN greatly appreciates the support from the Manitoba Mineral Development Fund and the Manitoba Chambers of Commerce,"   Brad Humphrey , President and CEO of NiCAN commented. "This funding is earmarked for continued exploration at the Wine Project, which has returned truly impressive drill results to date. We look forward to announcing additional exploration results from the Wine Gabbro area in the coming weeks. The Company also plans to complete geophysical and geochemical surveys that will drive the exploration program for our next phase of drilling in this area."  

 

The MMDF is a $20-million provincial fund, launched in July 2020 by the Manitoba Government and administered by the Manitoba Chambers of Commerce. This fund is specifically dedicated to providing funding for and supporting economic development and mining projects in northern Manitoba .

 
  About NiCAN  
 

  NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in the well-established mining jurisdiction of Manitoba, Canada .

 

  To receive news releases by e-mail, please register using the NiCAN website at    www.nicanltd.com.   

 
  Cautionary Note Regarding Forward-Looking Statements  
 

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the quantum of the grant; the timing for receipt of the balance of the grant; intended use of proceeds; drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

 

  Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.  

 
 
 

SOURCE Nican Ltd.

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/June2023/01/c1569.html  

 
 

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NiCAN Expands the Wine Occurrence at the Wine Project, Manitoba, Canada Multiple Zones Intersected Including 1.91% NiEq over 23.5 Meters

NiCAN Expands the Wine Occurrence at the Wine Project, Manitoba, Canada Multiple Zones Intersected Including 1.91% NiEq over 23.5 Meters

 
 

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to announce that its 2023 winter drilling program on the Wine Property located in the Snow Lake area, Manitoba, Canada (Figure 2) has expanded several mineralized zones at the Wine Occurrence.

 
  Highlights:  
 
  •   Diamond drill hole Wine 23-16 intersected four zones of mineralization including 12.6 meters at 1.52% Ni and 2.01% Cu (1.93% NiEq), from 48.3 to 60.9 meters (Table 1).  
  •  
  •   Diamond drill hole Wine 23-17 intersected three zones of mineralization including 23.5 meters at 1.59% Ni and 1.76% Cu, (1.91% NiEq), from 18.6 to 42.1 meters (Table 1, Figure 1).  
  •  

  Note: Nickel equivalent grades include nickel and copper values only and assume recoveries of 85% for nickel and 85% for copper based on comparable deposits. Nickel price: US$10.00 /lb; copper price  US$3.75 /lb.  

 

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[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

 

(TheNewswire)

 
       
  Prismo Metals Inc. 
                
 

Vancouver, British Columbia, July 3rd, 2025 TheNewswire - Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce that it has signed option agreements to acquire 100% interest in two historic high-grade precious and base metal mines — the Silver King and Ripsey mines — both located in Arizona's prolific Copper Belt near its flagship Hot Breccia project.

 

Additional information on the Silver King and Ripsey mines as well as Prismo's other projects (Hot Breccia and Palos Verdes) is available on Prismo's Youtube channel at:   

  

 

  Exceptional Grades and Untapped Potential  

 

Discovered in 1875, the Silver King mine is one of Arizona's most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Remarkably, selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains. Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

 

The Ripsey mine, located 20 km west of Hot Breccia, is also an historic gold-silver-copper producer with significant upside. Historic sampling has returned up to 15.85 g/t gold and 276 g/t silver, yet no modern exploration has been conducted.

 

  Strategic Location — World-Class Neighbors  

 

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world's largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . This unique land position is fully surrounded by Resolution Copper's claim block, offering strategic upside.

 

"The Silver King and Ripsey mine projects are exciting additions to our Arizona portfolio. We see an opportunity to create near term value through immediate exploration on a historic high-grade silver producer with antimony potential that has seen limited modern exploration by drilling both laterally and at depth into a prospective source formation, said Gordon Aldcorn, President of Prismo. "We look forward to getting our exploration team back in the field, advancing our exciting projects and revitalizing investor interest in the Company."

 

The Silver King mine was discovered in 1875 and produced ore with as much as 10,000 ounces per ton silver in near surface workings (2) . Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

 

The orebody at Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core (3) .  Records indicate that due to variations in mineralogy, much of the upper portion of the body was evidently not mined. The current owners (the " Optionor ") rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

 

The Ripsey mine is a historic gold-silver-copper producer located about 20 km west of the Hot Breccia project. Historic mine workings consisting of tunnels and shafts on several levels were developed along a vein over about 400 meters of strike length and 160 meters vertically. A small tonnage of mineral was produced by the Optionor in the late 1990's. Sampling by Dr. Craig Gibson from the mine workings has yielded 15.9 g/t gold and 275 g/t silver over 0.75 meters and 8.7 g/t gold, 181 g/t silver, 3% copper and 9% zinc over 1 meter. No modern exploration has been carried out at the project, providing significant exploration upside and multiple drill targets.

 

The Company plans to conduct a detailed mapping and sampling program at both projects at surface exposures and in accessible workings.  A drill program is planned for Silver King, with about 1,000 meters initially. The Silver King drill program is designed to test the mineralized body at four elevations as well as lateral to the pipelike body. De-watering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.

 

"This is a fabulous opportunity for the Company. Both projects are high-grade and are easily accessible and may be associated with porphyry copper mineralization. We also look forward to evaluating the potential for antimony at Silver King. We're excited to begin exploration immediately to test the Silver King's pipelike mineralized body at multiple depths and laterally," said Dr. Craig Gibson , Chief Exploration Officer. "This region is world-class for porphyry systems and base and precious metals, and we believe these mines have significant untapped potential."

 

    
Click Image To View Full Size
 

 

Location of the Company's projects withing the Arizona Copper Belt

 

    
Click Image To View Full Size
 

 

Land map of the Silver King mine.

 

    
Click Image To View Full Size
 

 

Drone view of the Silver King mine.

 

     

 

The Silver King mine in the late 1800's.

 

    
Click Image To View Full Size
    
Click Image To View Full Size
 

 

Small scale mining in the upper levels of the Silver King mine in the late 1990's.

 

  Deal description  

 

Prismo has the option to acquire a 100% interest in both the Silver King and Ripsey mines. Prismo can earn a 100% interest in the Ripsey mine by issuing one million shares to the Optionor, paying the Optionor US $10,000 within six months of the signing of the option agreement (the " Effective Date "), US $10,000 on each anniversary of the Effective Date and US $1 million to the Optionor within five years of the Effective Date. Prismo does not have minimum work commitments as part of the Ripsey option agreement.

 

Regarding the Silver King mine, Prismo can acquire a 100% interest in three stages. Prismo must issue one million shares to the Optionor, pay the Optionor US $10,000 within six months of the Effective Date, and US $10,000 on each anniversary of the Effective Date. To earn a first 50% interest, Prismo must incur no less than US $500,000 in expenditures on or before the first anniversary of the Effective Date, incur no less than an additional US $2.5 million expenditures on or before the third anniversary of the Effective Date and issue to the Optionor two million shares. Prismo can acquire an additional 30% interest by incurring no less than an additional US $3 million in expenditures, paying the Optionor US $1 million and issuing to the Optionor two million shares before the fifth anniversary of the Effective Date. Prismo can elect to form a joint venture at anytime after earning it initial 50% interest. The option agreement and joint venture agreement terms and conditions contain standard buyout and dilution terms regarding the final 20% interest.

 

  Private Placement  

 

Prismo is also pleased to announce a non-brokered private placement (the " Private Placement ") of five million units of the Company (" Units ") at an issue price of $0.05 per Unit for minimum gross proceeds of $250,000. Each Unit will consist of one common share in the capital of the Company (a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant will entitle the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

 

The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on July 1st, 2025, held Shares (and who continue to hold such Shares as of the closing date of the Private Placement), pursuant to the existing securityholder exemption set out in BC Instrument 45-534 – Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the " Existing Securityholder Exemption "). The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Securityholder Exemption exceeding the maximum amount of the Private Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.

 

The Units issued pursuant to the Private Placement and the Existing Securityholder Exemption will be subject to a four-month hold period from the closing date of the Private Placement under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  

 

  The Company intends to use the net proceeds of the Private Placement for general corporate purposes. The Company may pay finder's fees to eligible finders in connection with the Private   Placement, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.  

 

  The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.  

 

  Debt Settlements  

 

  Prismo also announces that it has entered into debt settlement agreements (the "   Settlement Agreements   ") with certain creditors of the Company (the "   Creditors   ") pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of 160,000  shares of the Company (each, a "   Share   ") in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $11,000 (the "   Debt Settlement   ").   All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.  

 

  Share and Warrants Issuance  

 

  A private company dealing at arms' length with Prismo, its officers and directors, had certain rights into the Silver King and Ripsey mines ("   PrivateCo   "). In consideration for PrivateCo relinquishing its rights in the Silver King and Ripsey mines in favor of the Company, Prismo has agreed, subject to regulatory approval, to issue PrivateCo five million units (the "   Units   "). Each Unit is comprised of one common share (a "   Share   ") and one share purchase warrant (a "   Warrant   "). The Shares will become free trading as to 25% every six months from the Effective Date. Two million of the Warrants will be exercisable at $0.10 ("   First Tranche   ") and three million Warrants will be exercisable at $0.15 ("   Second Tranche   "), all for a period of three years. The shares from the exercise of the Warrants will become free trading as to 25% every six months from the Effective Date. In addition, the exercise of the First Tranche is conditional on Prismo having raised $1.5 million from parties introduced to Prismo by the principals of PrivateCo and the exercise of the Second Tranche is conditional on Prismo having raised $3.0 million from parties introduced to Prismo by the principals of PrivateCo.  

 

  Qualified Person  

 

   Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. Other than the sampling conducted by Dr. Craig Gibson as indicated herein, the data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.   

 

  1)     https://resolutioncopper.com/about-us/    

 

  2)   Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.  

 

  3)   Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.  

 

  About Prismo Metals Inc.  

 

  Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.  

 

  Please follow @PrismoMetals on   ,   ,   ,    Instagram    , and  

 

  Prismo Metals Inc. ,   1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6  

 

  Contact:  

 

  Alain Lambert, Chief Executive Officer    alain.lambert@prismometals.com   

 

  Gordon Aldcorn, President    gordon.aldcorn@prismometals.com   

 

  Cautionary Note Regarding Forward-Looking Information  

 

  This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.  

 

  These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King and Ripsey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund exploration and the timing of such exploration.  

 

  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-   looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.  

 

  NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
 

 

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Bold Ventures Provides Update on Field Work at Burchell Property

Bold Ventures Provides Update on Field Work at Burchell Property

 

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to provide an update on the progress of field work at its Burchell Gold and Copper Property, located approximately 100 km west of Thunder Bay.

 

Prospecting, outcrop mapping and soil sampling were carried out during the months of May and June on a 1 km by 800 m flagged grid centered on the recently discovered 111 Zone, where grab samples returned between 10 ppb gold and 68 g/t gold last December (see news releases dated December 12, 2024 and January 9, 2025). More than 600 rock and soil samples have been submitted for analysis from this first phase of field work, with final results pending.

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Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

 

(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

Vancouver, British Columbia July 3 rd 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), is pleased to announce a $1,000,000 hard dollar financing from one strategic investor, further confirming the support and excitement of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a globally ranked tier 1 jurisdiction with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.

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Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

 

Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce assay results from six grab samples collected at the Main Mineralized Zone ("MMZ") of its wholly-owned, road-accessible Havens Steady VMS Property ("Havens Steady" or the "Property") in central Newfoundland. These samples confirm high-grade lead-zinc-silver mineralization at surface and show associated gold and copper enrichment consistent with a polymetallic volcanogenic massive sulphide ("VMS") system.

 

The grab samples were collected during a recent field visit, focused on confirming the tenor and extent of exposed mineralization within the MMZ. All samples were collected from bedrock outcroppings of gossanous surface material. Surface grab sample highlights are given in Table 1, below.

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