Noble Mineral Exploration (TSXV:NOB,FWB:NB7,OTCQB:NLPXF) is a Canadian junior exploration company with shareholdings in Canada Nickel, Spruce Ridge Resources and MacDonald Mines Exploration.
Noble holds approximately 90,000 hectares of mineral rights in various areas of Northern Ontario, Quebec and Newfoundland, upon which it plans to generate joint venture exploration programs. The company is exploring for nickel, cobalt, platinum group metals (PGMs), volcanogenic massive sulphide (VMS), gold, chromium, copper, zinc, silver and gold. The company owns one contiguous block of land totaling 25,000 hectares staked and patented mineral rights at Project 81 including a 50-percent interest in the Carnegie, Prosser, Wark and Kidd Twps (6,600 hectares ) claims, and an option on 4,800 hectares in Calder Twp.
Noble’s Project 81 properties have been sold to Canada Nickel for 3.5 million shares of Canada Nickel, which yielded dividends to Noble shareholders in the second quarter of 2022 by way of a return of capital. Noble has retained a 2-percent net smelter return (NSR) on claims in Bradburn, Mahaffy and MacDiarmid Twps subject to a 50-percent buyback at graduated rates per project.
The Crawford nickel sulfide project covers 9,000 hectares of the larger Project 81 property and is approximately 14 kilometers north of the Kidd Creek mine. After an initial drill program carried out by Spruce Ridge Resources, the Crawford Ni-Co-PGM deposit was taken over by Sprudge Ridge for 22 million shares of Canada Nickel.
Noble Mineral also holds interest in Mann et al Twps comprising 1,900 hectares in the Timmins area of Northern Ontario, for which it holds the mineral rights focusing on Ni-Co-PGM. The company plans a follow-up drilling campaign at the Nagagami River Carbonatite project covering 14,600 hectares of niobium and rare earth discovery near Hearst in Northern Ontario. Noble is also planning its 2023 drill campaign at the 4,600-hectare Boulder Project. Scheduled winter drilling for the same year is set for the 482-hectare Cere-Villebon and 3,700-hectare Buckingham graphite projects.
Noble Mineral has also formed numerous strategic financial and technical partnerships that apply state-of-the-art technology to help identify various types of mineralization. Some of the company’s partners include MacDonald Mines Exploration (TSXV:BMK), a Canadian precious metals explorer, Orix Geoscience, a geological consulting firm, BECI Exploration Consulting, an innovative airborne mineral exploration technology developer, CGG Multiphysics, a fully-integrated geoscience company providing leading geological, geophysical (airborne gravity gradiometer) and reservoir services, Windfall Geotek to produce artificial intelligence (AI), IBK, as their financial advisor, and Franco-Nevada (TSX:FNV), a net smelter royalty (NSR) holder.The Project 81 property spans over 36,400 hectares and is located in the Timmins-Cochrane area of Northern Ontario. It comprises patented mineral rights, in addition to contiguous staked mining claims. The property remains mostly underexplored and is prospective for gold, silver, nickel, cobalt, platinum group metals (PGM), chromium, copper, lead, VMS and zinc deposits. Project 81 is within three kilometers of Glencore’s Kidd Creek zinc-copper-silver mine complex, 30 kilometers from the Porcupine-Destor main break, and within 25 kilometers of the City of Timmins, Ontario. The property is accessible by paved highway and has access to high-voltage transmission lines, hydropower, water, mining personnel and mining service suppliers and contractors.
Noble Minerals has acquired a copper-precious-metal prospect near Hearst, Ontario, extending from about 4 to 15 kilometers southwest of the town of Hearst. The staked area is equivalent to approximately 4,500 hectares. A 140-kilogram boulder was found in the area containing significant concentrations of base and precious metals which, upon analysis conducted in 2019 by the Ontario Geological Survey, determined that the boulder contained: 71.8 percent copper; 3.5 percent lead, 1.09 percent zinc; 252 grams per ton (g/t) of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of the mineral cuprite.
Drilling is planned in 2023 to follow up on airborne EM/Mag for Boulder producing more than 70 percent copper.
First core from Nagagami Complex
Noble acquired an estimated 14,607 hectares, including 695 mining claims, in the Nagagami River area. The carbonatite alkalic complex is positioned approximately 65 kilometers northwest of Hearst, Ontario. Project perspectives are based on magnetic study of the Nagagami land relative to the Niobec mine in Quebec. These geologically similar areas indicate donut-shaped structures with syenitic rocks forming the circular magnetic high, and carbonatitic rocks forming the central magnetic low where niobium and other rare earth mineralization is hosted.
The Buckingham graphite project comprises 3,700 hectares in the Outaouais area of Western Quebec. A 2022 fieldwork of a two-phase program was conducted to include reprocessing of data from a 2013 survey, property visits to locate trenches, grab samples and drill hole collars. The company has proposed to conduct infill drilling on the property in 2023.
Between the 1960s and 1980s, drilling and exploration were conducted at the Lucas gold project. No significant exploration work, however, has been completed on the property since the 1980s. Historic (not NI 43-101 compliant) drill highlights include 9.14 meters grading 3.14 g/t gold and 8.84 meters grading 3.5 g/t gold. The project also has six discrete parallel induced polarization (IP) anomalous trends that require follow-up exploration.
In 2012 and 2018, Noble Mineral completed airborne electromagnetic and magnetic geophysical surveys on the property. The surveys outlined an anomalous gold trend that was followed up with a 3,184-meter drill program over 650 meters of the 1,700-meter strike length. Highlights from the 2018 drill program include 5 meters grading 1.42 g/t gold and 9.5 meters grading 1.84 g/t gold.
The company believes that the gold mineralization at Lucas is structurally controlled and occurs as discrete lenses stacked within the pyrite-gold mineralized tuff unit. Noble Mineral intends to conduct follow-up drilling during future work programs.
H. Vance White has served as president and director of the company since 2003. He has been actively involved in the mineral exploration and production industry for over 50 years. White has also served as director and officer of several other reporting issuers, including Dickenson Mines, now Goldcorp/Newmont. He was the founder of AfriOre, now owned by Lonmin.
Robert Suttie currently works with Marrelli Support Services as its vice-president. He has more than 20 years of experience, 10 of which were in public accounting prior to his tenure with the Marrelli organization. He specializes in management advisory services, accounting and the financial disclosure needs of Marrelli’s public client base. Suttie also serves as CFO for a number of other junior mining companies listed on the TSX and TSXV, leveraging his skills and experience to become integral to the reporting issuers.
Wayne Holmstead brings Noble Mineral Exploration more than 40 years of exploration experience in Ontario and Quebec. He is a P.Geo who graduated from the University of Toronto holding positions of president, vice-president exploration, exploration manager and director for various junior mining companies over the years and has directed all aspects of mineral exploration in Canada.
He co-discovered and arranged financing for the MacLeod Lake copper-molybdenum-gold-silver deposit in James Bay, Quebec. He outlined 18 million tonnes of copper, molybdenum, gold and silver in the Main Zone, and discovered the South Zone and Rocky Point Zone at Macleod Lake through boulder tracing and beep mat prospecting.
Denis Frawley is a corporate and securities lawyer at Ormston List Frawley LLP, where he has been practicing since 2006. He regularly advises companies involved in the mineral resource exploration and mining industries on matters related to corporate law, securities law, corporate governance and related areas. Frawley also routinely advises private and public companies on financings, mergers and acquisitions, joint ventures and general commercial and business matters. In addition, as part of his practice advising public companies, he frequently advises on reverse takeovers and other transformative transactions.
Prior to founding Ormston List Frawley LLP, Frawley was a partner in Toronto at another leading Canadian law firm. He received his bachelors of common and civil law degrees from McGill University and his Bachelor of Social Science in economics from the University of Ottawa. He is permitted to practice in Ontario and New York.
For the majority of his career, Birks Bovaird’s focus has been on the provision and implementation of corporate financial consulting and strategic planning services. He was previously the vice-president of corporate finance for one of Canada’s major accounting firms. He presently is the chairman of Energy Fuels Inc., a premier US-based integrated uranium miner listed on the TSX and NYSE. Bovaird is chairman of GTA Resources and Mining as well as a member of the audit committee. He has been involved with numerous public resource companies, both as a member of management and as a director. He is a graduate of the Canadian Director Education Program and holds the Institute of Corporate Directors (ICD.D) designation.
Michael Newbury is a professional engineer, banker and project finance specialist with over 30 years of experience in the operation, financing and evaluation of natural resource projects. Newbury’s mining and technical expertise, as well as financial and engineering capabilities, enable the evaluation, assessment, development and operational plans and financial structures that manage project risk, minimize equity requirements and maximize shareholder value.
Newbury has a bachelor’s of science from McGill University, managed Barclays Bank’s World Mining Group and the Credit Suisse Corporate Banking Group. He was one of the initial partners in Endeavour Financial and provided his technical expertise to that group for over 10 years. He has extensive experience in the evaluation and financial structuring of natural resource projects in emerging market countries including Uzbekistan, Kazakhstan, South Africa, China and Venezuela, now Bolivarian Republic of Venezuela. Currently, he operates as an independent consultant and is on the Boards of a number of junior mining companies. He is Noble Mineral Exploration’s designated qualified person (QP) for geological reporting.
As the president of Blue Source Canada, the largest developer and marketer of projects to reduce greenhouse gas (GHG) in Canada, Yvan Champagne oversees project sourcing, offset sales, brokerage and advisory services for the Canadian market. An experienced leader and entrepreneur in carbon markets, Champagne has a great passion for and understanding of environmental technologies and GHG-reduction projects.
His broad experience includes GHG project screening, assessment and contracting, and advising companies and organizations across Canada on sustainable environmental strategies and programs. Champagne brings expertise in government relations, consulting in the energy sector, public affairs and marketing, and growing companies in new markets. Champagne obtained his Bachelor’s of arts in political science from Yale University with a focus on environmental policy and business-government relations. He is also a graduate of the Kellogg-Schulich Executive MBA program.
Dr. Samuel Peralta has 35 years of business experience in the energy and technology sectors, overseeing business development, product and process innovation and corporate transformation. He holds a PhD in physics, with an industry background in energy, mobile platforms and digital media, advanced sensors and semiconductors. Currently, he is CEO of Windrift Bay, which develops and manages a portfolio of technology and media properties. He was previously director of business and corporate development at Kinectrics, overseeing $70 million annually in high-tech programs for the energy industry.
Previously, he was CEO of Qvadis, a smartphone software provider and CTO for OH Solar, a photovoltaic firm based on an acquisition from Texas Instruments. Peralta served in key positions at Ontario Power Generation and the Ontario Laser and Lightwave Research Centre. He has served on the board of directors of public, private and non-profit firms, with committee leadership in governance, finance and audit, and special projects including mergers and acquisitions. Peralta served on the boards of Qvadis, Envergence, OPEL Solar, Axiom NDT, POET Technologies and the Organization of Canadian Nuclear Industries. He is currently sitting on the boards of Cobalt Blockchain, Noble Mineral Exploration and Windrift Bay.
Stephen Balch, a professional geologist, has over 30 years of experience in mineral exploration as an exploration geophysicist. He is one of Canada’s leading experts on geophysical techniques used to identify nickel-copper sulfide and platinum-group-metal targets. Since 2010, he has served as president and a director of Triumph Instruments, a company that conducts airborne time-domain electromagnetic surveys in North America, China and Mexico.
Since 2001, he has been president of Balch Exploration Consulting, a company that provides consulting services to major mining and junior exploration companies. From 2007 to 2015, Balch served as the president and a director of Canadian Mining Geophysics, a geophysical data recording company. He currently serves as vice-president of exploration for Canada Nickel.
Dr. Ed van Hees is a registered professional geoscientist with over 40 years of domestic and international experience working in, exploring for, and doing research on the origin and geochemistry of Orogenic gold deposits. He has worked as an exploration field geologist, mine geologist, exploration manager, consulting geologist, research scientist and professor of geology. Most recently, van Hees was employed as the Regional Resident Geologist responsible for the Timmins and Sault Ste Marie Mining Districts with the Ontario Geological Survey Resident Geology Program. Here he supervised the professional staff and authored / co-authored 7 Annual Reports of Activity and 10 Recommendations for Exploration between 2016 and 2020. Starting in 2019 he was employed as a professor for the Haileybury School of Mines where he has taught and helped develop seven geology, geochemistry, geophysics and environmental courses. From 2001 to 2015, van Hees was a professor of geology at Wayne State University in Detroit, Michigan, where taught core geology courses including mineralogy, petrology, structural geology and exploration / economic geology, as well as conducting research on the geochemistry and structural geology of orogenic gold deposits, and the geochemistry of metal pollution. In total, he has authored/co-authored 36 publications.
Battery and Critical Minerals Prospect Generator in Ontario
(TheNewswire)
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TORONTO TheNewswire - June 11, 2025 Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce the initial mineral resource at Mann West as announced by its joint venture partner Canada Nickel in the East Timmins Nickel Company, operating in the Timmins area of Northern Ontario.
Noble CEO Vance White said "We congratulate our partner Canada Nickel on the work completed and the Initial Resource estimate for Mann West project in Mann Twp and we are very excited about the prospects for East Timmins Nickel along with the several additional projects to be included."
Highlights:
Mann West Significantly Larger than Initial Crawford Resource:
Indicated Resource of 0.4 billion tonnes grading 0.23% nickel containing 0.95 million tonnes of nickel
Inferred Resource of 0.6 billion tonnes grading 0.22% nickel containing 1.31 million tonnes of nickel.
Indicated resource of 397,000 ounces palladium and platinum and Inferred resource of 593,000 ounces of palladium and platinum
Exploration Target of an additional 0.5-1.0 billion tonnes grading 0.20-0.22% nickel
Mann West is the third of eight new nickel resources expected to be published in 2025
TORONTO, June 11, 2025 - Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSX-V:CNC) (OTCQB: CNIKF) today announced an initial mineral resource estimate (the "Mineral Resource Estimate" or "MRE") for its Mann West Nickel Sulphide Project ("Mann West") near Timmins, Ontario. Mann West is wholly owned by East Timmins Nickel Ltd. of which Canada Nickel owns 80% and Noble Mineral Exploration Inc. owns 20%.
The Mann West Nickel Sulphide Project is located just 21 kilometres east of the Company's Crawford Nickel Sulphide Project ("Crawford") and is more than twice the size of Crawford based on the outline of its geophysical target of 3.4 square kilometres. The area of the geophysical target covered by the Mann West resource represents approximately 40% of the total target area. The Mann West project is accessible year-round.
Mark Selby, CEO of Canada Nickel said, "Mann West marks a significant milestone with today's announcement, demonstrating a resource that surpasses the size and scale of our initial Crawford resource, and that validates our belief in the potential of the Timmins Nickel District. With a target footprint more than double Crawford's, Mann West is just the third of eight new mineral resources we expect to announce by the end of 2025, including two more this month."
Mann West Mineral Resource Estimate
For the initial Mineral Resource Estimate, a total of 16,833 metres of core drilling in 37 drill holes were utilized to calculate the Mann West Resources in two categories as provided in Table 1. Indicated Resources totalled 406 million tonnes grading 0.23% nickel, for a total of 0.95 million tonnes of contained nickel and Inferred Resources totalled 599 million tonnes grading 0.22% nickel, for a total of 1.31 million tonnes of contained nickel. The approximate dimensions of the resource are 1.9 kilometres long, 800 metres wide, extending to 500 metres deep and remaining open to the northwest and at depth. An additional 0.5 – 1.0 billion tonnes grading between 0.20% and 0.22% nickel remain as an Exploration Target, pending further drilling. This Exploration Target is based on core drilling by the Company, the geophysical survey on the Project, and the understanding and calculation of the current MRE. Within the resource, a PGM Zone containing an Indicated resource of 7.0 million tonnes grading 0.422 g/t palladium + platinum and an Inferred resource of 7.7 million tonnes grading 0.411 g/t palladium + platinum.
The Exploration Target was derived by modelling the identified nickel sulphide mineralization within the current estimation envelope but outside of the current Mineral Resource Estimate area.
The volume of the modelled Exploration Target area determines the potential tonnage statement in the Exploration Target. The grade range given in the Exploration Target is determined with consideration to the drill core results within the modelled Exploration Target area, consideration of the geological setting in a well understood nickel deposit type where grades are observed and well understood, and based on the experience of the Company and the Qualified Persons. The potential tonnages and grades are conceptual in nature and are based on drill holes and geophysical results that define the approximate length, thickness, depth and grade of the Exploration Target. There has been insufficient exploration to define a current mineral resource and the Company cautions that there is a risk that further exploration will not result in the delineation of a current mineral resource.
Drilling at Mann West was completed in 2023 and 2024. The 2024 campaign successfully completed the goal of infilling previous sections to allow for the definition of an initial mineral resource estimate, gain understanding on the geology of the deposit, as well as systematically collecting samples for mineralogical analysis that have started to help define the potential of nickel recovery (see May 13, 2024 news release).
The Mann West Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. in accordance with CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2019) and CIM Definition Standards for Mineral Resources & Mineral Reserves (2014). A Technical Report in support of the Mineral Resource Estimate will be filed on SEDAR+ ( www.sedarplus.ca ) within 45 days of this news release.
Table 1. Initial Total Mineral Resource Estimate (in-pit resources) for the Mann West Nickel Sulphide Deposit.
Class | Tonnage | Ni | Co | Fe | Cr | Pd | Pt | Ni | Co | Fe | Cr | Pd | Pt | |
Indicated | 406.1 | 0.23 | 0.012 | 6.5 | 0.32 | 0.018 | 0.013 | 949 | 49.1 | 26.4 | 1,283 | 231 | 166 | |
Inferred | 599.1 | 0.22 | 0.012 | 6.7 | 0.34 | 0.018 | 0.013 | 1,310 | 73.2 | 40.4 | 2,036 | 339 | 254 |
Table 2. Initial PGE Zone Mineral Resource Estimate (in-pit resources) for the Mann West Nickel Sulphide Deposit.
Class | Tonnage | Ni | Co | Fe | Cr | Pd | Pt | Ni | Co | Fe | Cr | Pd | Pt | |
Indicated | 7.0 | 0.04 | 0.007 | 5.6 | 0.40 | 0.238 | 0.184 | 2.7 | 0.5 | 0.4 | 27.9 | 53.4 | 41.4 | |
Inferred | 7.7 | 0.04 | 0.007 | 5.4 | 0.39 | 0.232 | 0.179 | 3.1 | 0.5 | 0.4 | 30.2 | 57.3 | 44.4 |
*Totals may not add due to rounding.
Notes to Table 1 and Table 2:
The independent Qualified Person for the Mineral Resource Estimate ("MRE"), as defined by National Instrument 43-101 ("NI 43-101"), is Dr. Scott Jobin-Bevans (P.Geo., PGO #0183), of Caracle Creek International Consulting Inc. The effective date of the Mineral Resource Estimate is May 30, 2025.
The quantity and grade of reported Inferred Resources in this MRE are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
A cut-off grade of 0.10% Ni was used to define potentially economic material for inclusion within the MRE. Cut-offs were determined on the based on core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous nickel deposit types.
Geological and block models for the MRE used data from a total of 37 surface drill holes, completed by Canada Nickel in 2023 and 2024. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by Canada Nickel and by comparison of umpire assays performed at a second laboratory.
Estimates have been rounded to two significant figures.
The MRE was prepared following the CIM Estimation of Mineral Resources Mineral Reserves Best Practice Guidelines (November 29, 2019) and the CIM Definition Standards for Mineral Resources Mineral Reserves (May 19, 2014).
The geological model as applied to the MRE comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (dunite), a lower grade (peridotite), and a PGE-rich pyroxenite "reef". Individual wireframes were created for each domain in Leapfrog Geo 2024.1 software.
A 20 m x 20 m x 15 m block model was created, and samples were composited at 7.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method in Isatis 2024.04 software.
The MRE has been constrained by a conceptual pit envelope that was developed using the following optimization parameters. Metal prices used were US$21,000/t nickel, US$40,000/t cobalt, US$325/t iron, US$3,860/t chromium, US$1,350/oz palladium, and US$1,150/oz platinum. Different pit slopes were used for each layer (in degrees): 9.5 in overburden, and 40.0 in mineralized rock, and 45 in waste rock. Exchange rate utilized was US$/C$ at $0.76. Mining costs utilized different values for overburden (clay, gravel), and rock mining, ranging from C$1.47 to C$3.53/t mined. Processing costs and general and administration costs for a 120 ktpd operation (similar to the ultimate scope of Crawford) were C$8.30/t. Based on the range of grade and ratio of sulphur to nickel, calculated recovery averages 45% for Ni, 7% for Co, 56% for Fe, 29% for Cr 45% for Pd and 28% for Pd.
Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, cross-plots of declustered samples against the nearest OK estimate, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, based on 1,740 specific gravity measurements collected during the core logging process, using the same block model parameters of the grade estimation. As a reference, the average estimated density value within dunite is 2.64 g/cm (t/m ), while the peridotite domain yielded an average of 2.74 g/cm (t/m ), and the PGE "reef" domain an average of 3.05 g/cm (t/m ).
Figure 1. Plan View of Mann West Nickel Sulphide Resources, Mann West Nickel Sulphide Project, Ontario.
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Figure 2. Plan View of the Mann West Resource Categories and Nickel Grade.
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Figure 3. Mann West Nickel Sulphide Project Long-Section (Looking North) of Resource Categories (TOP) and Nickel Grade (BOTTOM).
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Next Steps at Mann West:
A technical report with respect to the Mineral Resource Estimate disclosed today will be filed within 45 days.
Infill drilling at the property will aim to increase and upgrade inferred resources in the next drilling campaign.
Mineralogical and metallurgical analysis will continue to better understand and estimate metal recoveries.
Assays, Quality Assurance/Quality Control and Drilling
Edwin Escarraga, MSc, P.Geo., a "Qualified Person" within the meaning of NI 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the secure core logging facility (core shack). The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby. All are ISO/IEC 17025 accredited labs and independent of Canada Nickel. Analysis for precious metals (gold, platinum, and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks (QA/QC samples) are inserted at a rate of three QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.
Qualified Person and Data Verification
Stephen J. Balch (P.Geo. – Ontario), VP Exploration of Canada Nickel and a "Qualified Person" within the meaning of NI 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
The magnetic images shown in this news release were created from Canada Nickel's interpretation of datasets provided by the Ontario Geological Survey.
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 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-Nickel District. For more information, please visit www.canadanickel.com.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.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 potential of the Mann West Nickel Sulphide Project, timing for filing a technical report in support of the Mineral Resource Estimate, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, timing and completion (if at all) of additional mineral resource estimates, the potential of the Timmins Nickel District, 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. 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.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
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TORONTO TheNewswire - April 07, 2025 Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to report that t he News Release issued today giving an Exploration and Corporate Update for Homeland Nickel in which Noble has a significant shareholding was issued today the contents of which are below. This all relates to the White House announcing immediate measures to be introduced to significantly increase the US production of lithium, nickel, copper, and rare earths, with an eye to increased production, the creation of jobs and, significantly, the reduction of US reliance on foreign nations.
"Homeland Nickel Provides Exploration and Corporate Update
Toronto, Ontario – April 07, 2025 – Homeland Nickel Inc. (" Homeland Nickel " or the " Company ") (TSX-V: SHL, OTC: SRCGF) is pleased to provide an exploration update on its 30% owned Great Burnt Copper and South Pond Gold Properties that are in joint venture with Benton Resources Inc. ("Benton") as well as its majority-owned nickel properties located in Southern Oregon.
Great Burnt Copper, Newfoundland
Benton continues to intersect high-grade copper within the Great Burnt Main Zone and has discovered a second parallel zone (the Footwall Zone) reporting higher grades of gold. For example, hole GB-24-49 intersected 22.0 metres of 7.47% copper (Cu) at 220 metres (m) downhole within the Main Zone and 9.5 m of 0.35% Cu and 0.94 g/t gold (Au) starting at 425 m downhole within the Footwall Zone. Significant intersections from the 2023-2024 exploration programs by Benton into the Great Burnt Main Zone are summarized in Table 1. Based on a long section (Figure 1) the Main Zone has been extended along strike by 400 m and remains open down plunge to the south. The newly discovered Footwall Zone is also open.
GB-23-02: 13.00 m of 8.31% Cu, incl 3.00 m of 12.80% Cu
GB-23-04: 26.87 m of 7.18% Cu, incl 11.16 m of 10.28% Cu
GB-23-07: 12.30 m of 7.20% Cu, incl 7.00 m 10.60% Cu
GB-23-12: 25.42 m of 5.51% Cu, incl 1.00 m of 8.77% Cu, 82.00g/t Ag, 4.43g/t Au
GB-23-15: 22.59 m of 5.03% Cu, incl 0.50 m of 20.00% Cu
GB-23-16: 13.67 m of 5.80% Cu, incl 1.00 m of 20.60% Cu
GB-23-18: 8.17 m of 4.22% Cu, incl 7.05 m of 4.11% Cu
GB-23-21: 24.00 m of 5.81% Cu, incl 7.00 m of 11.47% Cu
GB-23-22: 21.68 m of 3.59% Cu, incl 2.00 m of 15.3% Cu
GB-24-23: 7.00 m of 2.02% Cu, incl 4.00 m of 3.01% Cu
GB-24-32: 11.29 m of 3.10% Cu, incl 6.63 m of 5.57% Cu
GB-24-33: 20.92 m of 2.26% Cu, incl 2.98 m of 4.17% Cu
GB-24-37: 18.10 m of 1.99% Cu, incl 4.50 m of 7.24% Cu
GB-24-40: 3.59 m of 3.47% Cu, incl 1.00 m of 4.52% Cu
GB-24-43: 3.73 m of 3.22% Cu
GB-24-45: 22.8 m of 1.23% Cu, incl 3.8 m of 2.21% Cu
GB-24-49: 22.0 m of 7.47% Cu, incl 15.0 m of 10.02% Cu
Note: True widths are estimated to be 70% of the above reported core lengths
Table 1 - Significant 2024 drill intersections into the Great Burnt Main Zone.
Click Image To View Full Size
Figure 1 - Long section of the Great Burnt (Main) Copper Zone.
South Pond Gold, Newfoundland
Benton conducted a drill program during 2024 encountering thick sections of gold mineralization including 54.50 m of 1.88 g/t Au in hole SP-24-32. Drilling will continue in 2025 with a 15,000 m program planned to expand the shallow mineralization at depth and along strike. Significant intersections are summarized in Table 2 with the assays from three drillholes still pending.
Note: Actual widths of the mineralization are unknown currently
Table 2 - Core length intersections of gold in South Pond Gold Zone.
Red Flat Property, Oregon
Previous exploration at Red Flat in 2007-2008 identified a historical nickel resource of 10.4 Mt at 0.84% Ni of measured and indicated plus 8.3 Mt at 0.80% Ni of inferred for a total of 317 million pounds of contained nickel using a 0.7% Ni-cutoff (AJR Consulting Inc., 2009). The resource is not compliant with NI 43-101 standards as it was not published prior to the property being acquired by Homeland Nickel.
During July 2024, Homeland Nickel visited the property with the Forest Service to review road access and to locate up to 50 sonic drillhole locations for a future exploration program. The property is road accessible across its entire length via a well-maintained gravel road with several unmaintained trails extending across the property to provide excellent overall access. Of historical significance was the presence of several large trenches (see Figure 2) that are thought to have been excavated during the 1950s by the United States Government (possibly the United States Geological Survey) where nickel laterite was exposed for vertical thicknesses up to 15 ft.
A total of forty-four (44) sonic drillhole locations were spotted and photographed and a subsequent Plan of Operation has been submitted to the Forest Service for approval. The purpose of this drill program is to determine the vertical extent of the nickel laterite along both a north-south and east-west corridor in an area with good road access. A bulk sample program is also planned whereby Homeland Nickel will excavate approximately 2,000 pounds of nickel laterite across the various exposed trenches using pickaxes and shovels to minimize the amount of surface disturbance. This material will be subject to mineralogy and metallurgy reviews as well as to determine if the nickel can be removed in-situ.
Cleopatra Property, Oregon
Cleopatra has a historical resource (not NI 43-101 compliant) of 19.803 Mt of 0.94% Ni in the measured and indicated categories as well as 19.671 Mt of 0.92% Ni in the inferred category for a total of 733 million pounds of contained nickel. The Company visited the property in 2024 and discovered that while the property could be accessed directly by four-wheel drive truck, access within the property was mostly limited to quad-runners. Homeland Nickel has proposed a sonic-hole program consisting of up to 16 shallow holes each drilled to a maximum depth of 50 feet. A Plan of Operation was submitted to the US Forest Service in August 2024 for approval.
Eight Dollar Mountain, Oregon
The Eight Dollar Mountain Property ("Eight Dollar") is located west of the town of Selma, Oregon and is directly accessible by road. Nickel laterite is evident at surface across much of the property. A sampling program is scheduled for 2025 to obtain several undisturbed samples of nickel laterite for assaying (approximately 500 g per sample). Historic exploration at Eight Dollar has confirmed nickel laterite over a very wide area of variable grade. Homeland Nickel staked 115 mining claims in 2024 totalling 2,376 ac and has a 100% interest in the property.
Shamrock Property, Oregon
The Shamrock Property ("Shamrock") consists of 40 mining claims totalling 758 ac, and is located 20 miles northwest of Medford, Oregon. Access is via a local gravel road extending into the property from a paved highway to within a few hundred meters of the historical workings and was visited by Homeland Nickel in August 2024. An exploration program at Shamrock is planned for 2025 to relocate the historical workings and sample local outcrops. The property was explored in 1952-53 and a bulk sample of 200-lb was removed which assayed 1.3% Ni, 1.1% Cu and 0.03 oz/t Pt. High-grade manganese was also removed and processed with assays returning 23.1-32.3% Mn. Shamrock is considered a high-grade nickel sulphide prospect, 100% owned by Homeland Nickel.
Corporate Update
Homeland Nickel continues to own a significant amount of Canada Nickel Company Inc. (TSXV: CNC) and Benton (TSXV: BEX) shares. With the recent announcement by Benton of a lithium spin-out (Vinland Lithium Inc., see Benton's news release dated January 16, 2025) and dividend of shares to existing Benton shareholders, Homeland Nickel will benefit from its share holding of 12,682,000 BEX common shares, approximately 6.5% of Benton's issued common shares. These spin-out shares will be held by the Company for investment purposes.
The Company has submitted a Plan of Operation for both Red Flat and Cleopatra to the US Forest Service and is expecting for a mid-spring 2025 field program. As part of the Plan of Operation, Homeland Nickel must show that its mining claims have been in good standing since 2014 and that each mining claim to be explored has prior indication of economic minerals present prior to a 2015 withdraw order which now limits exploration to existing staked prospects.
Click Image To View Full Size
Figure 2 - Excavated trench at Red Flat revealing nickel laterite at surface.
Qualified Person
Stephen J. Balch, P.Geo. (ON), the Company's President and CEO and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the technical content of this press release.
About Homeland Nickel
Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources with nickel projects in Oregon, United States and copper and gold projects in Newfoundland, Canada. The Company holds a significant portfolio of mining securities including 2.692 million shares of Canada Nickel Company Inc. (TSX-V: CNC), 9.960 million shares of Noble Mineral Exploration Inc. (TSX-V: NOB), 12.682 million shares of Benton Resources Inc. (TSX-V: BEX) and 2.761 million shares of Magna Terra Minerals Inc. (TSX-V: MTT). Homeland Nickel's common shares trade on the TSX Venture Exchange under the symbol "SHL." More detailed information can be found on the Company's website at:
http://www.homelandnickel.com
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release contains statements that constitute "forward-looking statements." Forward-looking statements are statements that are not historical facts and include, but are not limited to, disclosure regarding possible events, that are based on assumptions and courses of action, and in certain cases, can be identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur, or the negative forms of any of these words and other similar expressions. Forward-looking statements include statements related to future plans for the Company, and other forward-looking information. Forward-looking statements are based on various assumptions including with respect to the anticipated actions of securities regulators, stock exchanges, and government entities, management plans and timelines, as well as results of operations, performance, business prospects and opportunities. Although the forward-looking statements contained in this news release are based upon what the management of the Company believes are reasonable assumptions on the date of this news release, such assumptions may prove to be incorrect. Forward-looking statements involve known and unknown risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed in the forward-looking statements, including, but not limited to: an inability to develop and successfully implement exploration strategies; general business, economic, competitive, political and social uncertainties; the lack of available capital; impact of the evolving situation in Ukraine on the business of the Company; and other risks detailed from time-to-time in the Company's ongoing filings with securities regulatory authorities, which filings can be found at www.sedarplus.ca. The Company cannot assure readers that actual results will be consistent with these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements in this press release. These forward-looking statements are made as of the date of this news release and the Company disclaims any intent or obligation to update any forward-looking statement, whether because of new information, future events or otherwise, unless otherwise required by law."
A bout Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks, and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise .
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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TORONTOTheNewswire - March 2 4 2025 - Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to report that t he White House announced immediate measures to be introduced to significantly increase the US production of lithium, nickel, copper, and rare earths, with an eye to increased production, the creation of jobs and, significantly, the reduction of US reliance on foreign nations.
The aim of the United States is to take immediate action to facilitate domestic mineral production to the maximum extent possible.
Heads of related Agencies, including Defense, Energy and Agriculture, are to be charged to facilitate domestic mineral production in the United States, providing loans, capital and technical assistance and working capital and to facilitate commercially viable domestic mineral production project to the maximum possible extent.
The link to the Executive Order is https://www.whitehouse.gov/presidential-actions/2025/03/immediate-measures-to-increase-american-mineral-production/
Homeland Nickel Inc. (SHL.V : SRCGF) is in a unique position in the US, its Oregon project has the potential to become one of the only suppliers of domestic Nickel in the country.
Homeland Nickel Inc., is poised to enter the US critical minerals market with a project which would qualify for all the Government DOD, DOE and IRA subsidies currently available.
A total of 30 EV battery plants are either planned, under construction or operational in North America. Of these, 3 plants are located within 500 miles in the adjoining States of Nevada and California. This is not to mention the global demand for stainless steel. As a consequence, Homeland is currently looking at acquiring additional other advanced Nickel-Copper properties in this region.
Noble Mineral Exploration inc. currently holds ~19,500,000 shares and 750,000 2-yr warrants of Homeland Nickel Inc.
Vance White CEO of Noble Mineral Exploration said: "As a very large shareholder of Homeland Nickel we are pleased that this may fast track the ability to carry out our proposed programs on the Red Flats and Cleopatra projects in Oregon where we have a potentially very large resource of nickel ore very close to surface. This could get very exciting!"
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.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 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. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC".
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks, and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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News Provided by TheNewsWire via QuoteMedia
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TORONTO TheNewswire - March 13, 2025 Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce successful exploration drilling results from its joint venture partner Canada Nickel Company Inc. ("Canada Nickel") (TSXV:CNC) in East Timmins Nickel Ltd. ("East Timmins Nickel") a private company operating in the Timmins area of Northern Ontario.
Canada Nickel Company Inc. announced strong results from the Reid, Mann West and Midlothian properties, its Three Giants. One of its Three Giants, Mann West delivered the highest grade interval within the property to date with 0.63% nickel over 4.5 metres within 0.40% nickel over 18.0 metres within an overall mineralized core length of 0.27% nickel over 452 metres, in hole MAN24-79.
Canada Nickel CEO Mark Selby said, " Our regional exploration program is consistently yielding excellent outcomes with each of the Three Giants delivering strong drilling results. These targets each have a target footprint larger than our flagship Crawford Nickel Sulphide Project, underscoring the large-scale potential of the Timmins Nickel District. We are excited to publish the remaining six resources by mid-2025, bringing the total to eight regional resources and showcasing the vast scale of nickel resources within the District."
The Three Giants each have a target footprint larger than CNC's flagship Crawford Nickel Sulphide Project, underscoring the large-scale potential of the Timmins Nickel District. Canada Nickel will publish the remaining six resources by mid-2025, bringing the total to eight regional resources and showcasing the vast scale of nickel resources within the District. For full details, drill results and maps, see the news release published by Canada Nickel, March 12, 2025.
Noble CEO Vance White said , "We congratulate our partner Canada Nickel on the work completed and results on the Mann Twp property and we are very excited about the prospects for East Timmins Nickel along the several additional projects to be included."
Mann Property
The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane and is 80% owned by Canada Nickel and 20% by Noble Mineral Exploration. The target consists of four separate targets, Mann North, Mann West (together formerly Mann Northwest), Mann Central and Mann South. The CNC release provides an assay update from six holes, three holes at Mann West, and three holes at Mann South.
Mann West
Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program completed focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled a total of 40 holes to date at Mann West with 31 holes drilled during the 2024 program. CNC is currently working on an initial resource estimate expected by April 2025. Assays from three holes are presented in this release and a final two holes are awaiting assays. See Table 1 and Figure 1.
Table 1 – Mann West drilling highlights.
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
MAN24- 79 | 48.7 | 501.0 | 452.3 | 0.27 | 0.01 2 | 0.025 | 0.01 3 | 0.25 | 6.28 | 0.1 0 |
Including | 192.0 | 210.0 | 18.0 | 0.40 | 0.012 | 0.124 | 0.042 | 0.15 | 6.16 | 0.09 |
Including | 205.5 | 210.0 | 4.5 | 0.63 | 0.011 | 0.434 | 0.138 | 0.15 | 5.82 | 0.13 |
and | 358.5 | 412.5 | 54.0 | 0.34 | 0.013 | 0.037 | 0.017 | 0.15 | 6.11 | 0.15 |
MAN24-80 | 6.0 | 337.5 | 331.5 | 0.24 | 0.012 | 0.016 | 0.012 | 0.35 | 6.42 | 0.15 |
Including | 43.5 | 54.0 | 10.5 | 0.41 | 0.011 | 0.092 | 0.041 | 0.15 | 5.31 | 0.11 |
and | 118.5 | 157.5 | 39.0 | 0.29 | 0.014 | 0.019 | 0.006 | 0.57 | 6.32 | 0.12 |
MAN24-98 | 94.5 | 211.8 | 117.3 | 0.24 | 0.012 | 0.016 | 0.009 | 0.31 | 6.22 | 0.07 |
and | 218.4 | 501.0 | 282.6 | 0.23 | 0.013 | 0.021 | 0.011 | 0.37 | 6.78 | 0.09 |
*True width undetermined. All lengths are drillhole lengths.
Figure 1. – Mann W – CNC Drillholes Over Total Magnetic Intensity.
Click Image To View Full Size
Mann South
This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The company drilled 20 holes in 2024 and successfully intersected varying degrees of serpentinized peridotite and minor pyroxenite. Peridotite shows anomalous values of PGE in hole MAN24-96. Assays from three holes are presented in this release. See Table 2 and Figure 2.
Table 2 – Mann South drilling highlights.
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
MAN24-88 | 61.4 | 496.5 | 435.1 | 0.23 | 0.011 | 0.003 | 0.005 | 0.48 | 5.70 | 0.05 |
MAN24-95 | 33.0 | 402.0 | 369.0 | 0.18 | 0.013 | 0.005 | 0.005 | 0.46 | 7.17 | 0.05 |
MAN24-96 | 32.1 | 402.0 | 369.9 | 0.17 | 0.013 | 0.052 | 0.065 | 0.38 | 7.06 | 0.01 |
including | 38.0 | 65.0 | 27.0 | 0.18 | 0.016 | 0.360 | 0.046 | 0.08 | 8.09 | 0.02 |
and | 92.5 | 154.5 | 62.0 | 0.08 | 0.014 | 0.109 | 0.347 | 0.33 | 7.58 | 0.01 |
*True width undetermined. All lengths are drillhole lengths.
Figure 2 – Mann S – CNC Drillholes Over Total Magnetic Intensity.
Click Image To View Full Size
Table 3: Drillhole Orientation
Hole ID | Easting (mE) | Northing (mN) | Azimuth (⁰) | Dip (⁰) | Length (m) |
MANN WEST | |||||
MAN24-79 | 496793.5 | 5412392 | 215 | -50 | 501 |
MAN24-80 | 496749.9 | 5411989 | 215 | -50 | 474 |
MAN24-98 | 495901.7 | 5412589 | 220 | -50 | 501 |
MANN SOUTH | |||||
MAN24-88 | 503622 | 5408792 | 50 | -50 | 501 |
MAN24-95 | 502507 | 5405555 | 55 | -50 | 402 |
MAN24-96 | 502253 | 5405841 | 35 | -50 | 402 |
REID | |||||
REI24-49 | 456964.1 | 5404097 | 130 | -50 | 483 |
REI24-51 | 457900 | 5404100 | 90 | -60 | 447 |
REI24-52 | 457349.4 | 5404196 | 180 | -55 | 759 |
REI24-53 | 457930.1 | 5404253 | 90 | -60 | 372 |
REI24-54 | 456960 | 5403900 | 180 | -55 | 501 |
REI24-55 | 457754.4 | 5404635 | 90 | -60 | 561 |
REI24-56 | 457327.8 | 5404025 | 180 | -60 | 621 |
REI24-57 | 456960.9 | 5403900 | 130 | -55 | 537 |
REI24-58 | 457929.4 | 5404172 | 270 | -60 | 531 |
MIDLOTHIAN | |||||
MID24-13 | 500117 | 5303240 | 180 | -50 | 554 |
MID24-14 | 498707 | 5303083 | 180 | -52 | 537 |
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "Qualified Person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
About Canada Nickel
Canada Nickel 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. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC."
For more information, please visit www.canadanickel.com.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
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TORONTO TheNewswire - February 28, 2025 Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce the results of its Annual General and Special Meeting of shareholders held on February 26, 2025 (the " AGM "). At the AGM, the shareholders approved:
the re-election of management's nominees to the Board of Directors, namely: J. Birks Bovaird, Yvan Champagne, Michael Newbury, Samuel Peralta, and H. Vance White (each director being elected with over 97% of votes cast);
the re-appointment of MNP LLP as the Company's auditor for the upcoming year, and also authorized the directors to fix the renumeration of the auditors (approved by over 97% of votes cast); and
the re-approval of the Amended and Restated 2022 Equity Incentive Plan of the Company (approved by over 97% of votes cast).
Following the AGM, the Board of Directors re-appointed the officers of the Company to the positions they previously held. In addition, the Board confirmed that the Audit Committee would continue to be comprised of Michael Newbury (Chair), J. Birks Bovaird and Yvan Champagne, and the ESG, Nominating and Compensation Committee will be comprised of J. Birks Bovaird (Chair), Michael Newbury and Samuel Peralta.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc.(20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario. Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario, ~14,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs .
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds ~4,600 hectares in the Nagagami Carbonatite Complex and its ~3,200 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), all of which are in the province of Quebec.
More detailed information is available on the website at: www.noblemineralexploration.com
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
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First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce its participation at the Benchmark Mineral Intelligence GIGA USA 2025 conference, taking place June 3-4, 2025, in Washington, DC. The Company will participate in strategic meetings during this critical mineral conference to demonstrate how its Atlantic Nickel Project addresses the growing need for nickel mining that can be completely processed in North America. The Atlantic Nickel Project contains nickel in the form of awaruite, a naturally occurring, sulfur-free, highly magnetic mineral with approximately 75% nickel content. These unique properties enable direct processing through magnetic separation and flotation, eliminating reliance on foreign overseas smelting or roasting operations. This simplified mineral processing method significantly lowers energy requirements and reduces environmental impacts, strengthening the development of a resilient, domestic critical minerals supply chain.
The GIGA USA conference brings together key players from across the critical minerals sector for two days of networking, dealmaking, and policy discussions. Attendees include major automakers such as Tesla, Ford, General Motors, Rivian, Mercedes-Benz, and Volkswagen; battery manufacturers like LG Energy Solutions, Samsung SDI, and Panasonic Energy; and global mining companies including Rio Tinto, Vale, Glencore, South32, and Anglo American. Government representatives from the U.S. Department of Energy, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department of State, the Government of Quebec, the Embassy of Canada, and the Delegation of the European Union will also attend. Conference topics will address the expansion of the United States' lithium-ion battery gigafactory industry and the need to establish secure, sustainable supply chains for critical raw materials, including lithium, nickel, graphite, cobalt, manganese and rare earth elements.
The conference addresses key areas of focus including strengthening the U.S. critical minerals supply chain through domestic production and expanded gigafactory capacity, examining policy and trade impacts, such as the Inflation Reduction Act (IRA), and enhancing national security through critical mineral independence. The conference will also focus on investment and financing opportunities for next-generation mining projects, innovations in battery technology and sustainability, and the importance of global collaboration and strategic partnerships.
The Company's Atlantic Nickel Project offers a secure and reliable solution for domestic nickel production. By leveraging awaruite's sulfur-free composition, high nickel content and magnetic properties, the project enables simple processing through magnetic separation and flotation without the need for secondary processing such as smelting or roasting. Unlike traditional nickel sulfide and laterite projects that undergo energy-intensive processes creating harmful waste and emissions, awaruite's metallurgical properties enable complete domestic nickel production while eliminating reliance on overseas processing. The lower energy requirements and sulfur-free nature of awaruite result in a reduced carbon and environmental footprint. The Company remains committed to strengthening North American critical minerals supply chains, with the Atlantic Nickel Project positioned to provide a secure, reliable nickel source for North American industries including electric vehicles, batteries, defense, and stainless steel manufacturing.
Conference Meeting Requests
First Atlantic welcomes the opportunity to meet with strategic partners, shareholders and investors during the GIGA USA 2025 conference. Interested parties are encouraged to contact Rob Guzman at rob@fanickel.com or by phone at 844-592-6337 to arrange meetings. The conference takes place June 3-4, 2025 in Washington, DC.
Phase 2 Drilling Update
The Phase 2 drilling program is currently underway and successfully expanding the awaruite mineralization identified in multiple drill holes during the Phase 1 campaign. Technical improvements, including optimized HQ/NQ drill configurations and enhanced drill bit selection, have enabled the current program to reach greater depths than previously achieved. The Company anticipated providing updates on the Phase 2 drill holes in the coming weeks.
For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1-844-592-6337 or via email at rob@fanickel.com
Corporate Update
The Company also announces that on May 21, 2025 it closed the definitive agreement dated May 6, 2025 (the "Purchase Agreement") to acquire a 100% interest in eight mineral licenses totaling approximately 3,350 hectares. These licenses are strategically located around the Company's Atlantic Nickel Project in central Newfoundland, in the Cold Spring Pod and Coy Pond areas. Under the terms of the Purchase Agreement, the Company has issued 1,000,000 Shares at a deemed price of $0.205 per Share. These Shares are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. And further to its May 6, 2025 news release, it closed the previously announced settlement agreement (the "Settlement Agreement") on May 22, 2025, to settle outstanding obligations totaling $202,950 owed to an arm's length creditor (the "Creditor") related to accounting services provided under a consulting agreement dating back to 2017. Pursuant to the Settlement Agreement, the Company has issued an aggregate of 312,500 common shares (each, a "Share") at a deemed price of $0.32 per Share. These Shares will be released in three equal tranches over a 12-month period and are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws.
Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)
Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching 1 . Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC) 2 . These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.
The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel." 3 Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.
Figure 1: Quote from USGS on Awaruite Deposits in Canada
The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel 4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply 5 . Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries.
Investor Information
The Company's common shares trade on the TSX Venture Exchange under the symbol " FAN ", the American OTCQB Exchange under the symbol " FANCF " and on several German exchanges, including Frankfurt and Tradegate, under the symbol " P21 ".
Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com . Stay connected and learn more by following us on these social media platforms:
https://www.facebook.com/fanickelcorp
https://www.linkedin.com/company/firstatlanticnickel/
FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com
Disclosure
Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.
About First Atlantic Nickel Corp.
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern) 6 .
First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.
Neither the 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.
Forward-looking statements:
This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects ; and expectations regarding future developments and strategic plans; Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws.
1 https://fpxnickel.com/projects-overview/what-is-awaruite/
2 https://home.treasury.gov/news/press-releases/jy1939
3 https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
4 https://www.brookings.edu/wp-content/uploads/2022/08/LTRC_ChinaSupplyChain.pdf
5 https://web.archive.org/web/20250417033842/https://www.airuniversity.af.edu/JIPA/Display/Article/3703867/the-rise-of-great-mineral-powers/
6 https://home.treasury.gov/news/press-releases/jy1939
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Bilingual Corporate Video introducing Ni-Co Energy Inc.
Summer Field Program Priorities (June–July)
Updated Interpretation of the 420 Assays from 2023
The 420 samples from the 22 holes drilled in fall 2023 have been recalculated in terms of nickel equivalent (NiEq %), using metal prices as of May 22, 2025 (Ni = $7.0375/lb, Cu = $4.6559/lb, Co = $15.286/lb).
Indicator | Updated Result |
Samples > 0.5 % NiEq | 134 (≈ 32%) |
Samples > 1.0 % NiEq | 70 (≈ 17%) |
Maximum grade | 3.89 % NiEq |
Average grade (all samples) | 0.48 % NiEq |
These data confirm the presence of significant mineralization, which may be associated with a mafic intrusion interpreted from geophysical surveys. Magnetic, gravity, and EM data show remarkable alignment over 8 km, suggesting a highly favorable environment in the central block (Kremer-2) over a 3 km section — an ideal structural setting for the formation of thicker sulfide lenses.
Next Steps – The Company Anticipates Undertaking a Drill Program in the Fall
Photos of the team, outcrops, and trenches will be shared regularly on the company website, as well as on Facebook, LinkedIn, and X during the campaign.
The scientific and technical information in this news release has been reviewed and approved by Marc Boivin, P.Geo., a Qualified Person under National Instrument 43-101.
About Ni-Co Energy Inc.
Ni-Co Energy Inc. is exploring the Kremer project, a mafic–ultramafic intrusion prospective for nickel, copper, and cobalt, advantageously located in southern Québec and supported by infrastructure and low-carbon hydroelectric power.
For further information, please contact:
Ni-Co Energy Inc.
info@nicoenergy.ca
Click here to connect with Ni-Co Energy Inc. to receive an Investor Presentation
At the same time, not a single word of the content we choose for you is paid for by any company or investment advisor: We choose our content based solely on its informational and educational value to you, the investor.
So if you are looking for a way to diversify your portfolio amidst political and financial instability, this is the place to start. Right now.
Nickel Price Forecast: Top Trends for Nickel in 2025
Nickel Price Update: Q1 2025 in Review
The nickel market has faced challenges over the past few years due to a supply glut and weak demand.
Even though the price of nickel surged in the first quarter of 2024, higher prices didn’t last. By the end of the year, any gains the base metal had made were erased, and it entered 2025 in the US$15,000 to US$15,200 per metric ton range.
What's in store for the rest of the year, and what nickel trends should investors be watching?
Indonesian supply is a key reason nickel prices are under pressure, as is a lack of demand growth.
In comments emailed to the Investing News Network (INN), Ewa Manthey, commodities strategist at ING, suggested that the situation isn’t likely to change for nickel in 2025.
“We believe nickel’s underperformance is likely to continue — at least in the near term — amid weakening demand and a sustained market surplus. A surge in output in Indonesia has dragged nickel lower over recent years, and demand from the stainless steel and electric vehicle (EV) battery sectors continues to disappoint,” she said.
Her statement follows recently introduced measures from China. Set to take effect in 2025, they involve injecting US$1.4 trillion over the next five years, and are meant to help the country’s ailing economy.
However, past measures introduced in 2024, particularly those in September, have yet to significantly affect the nation's housing and manufacturing sectors, which are net demand drivers for stainless steel.
Jason Sappor, senior analyst, metals and mining research, at S&P Global Commodity Insights, expressed similar sentiments about nickel's 2025 performance in comments to INN.
“We expect the market to remain oversupplied in 2025, as Indonesia and China’s primary nickel output expands further,” he said. Sappor added that subdued prices could lead to further output curtailments across the industry. This would be in addition to cuts already made at various operations around the world, particularly in Oceania.
The situation even has top producer Indonesia considering restricting output.
“The latest news reports that Indonesia’s government is considering making deep cuts to nickel-mining quotas to boost prices also highlight that the implementation of restrictions on the country’s nickel output should not be ignored as a risk to forecasts for the market to stay in surplus in 2025,” Sappor said.
For her part, Manthey suggested that cuts to nickel supply in 2024 did little to upset the market surplus — instead, they may have solidified Indonesia’s dominance over the industry.
“The recent supply curtailments also limit the supply alternatives to the dominance of Indonesia, where the majority of production is backed by Chinese investment. This comes at a time when the US and the EU are looking to reduce their dependence on third countries to access critical raw materials, including nickel,” she said.
One of the biggest factors that could come into play in 2025 is Donald Trump's return to the White House.
During his campaign, Trump made several promises that could lead to a shift in the US’ environmental and energy transition policies. While nothing is set in stone just yet, the actions he takes could include reversing commitments made under the Paris Agreement and ending tax credits for EVs.
A significant unknown is how Trump will approach the Inflation Reduction Act (IRA).
The program, which was established under the outgoing Biden administration, was designed to stimulate a move away from fossil fuels, while also supporting the procurement of friendly supply of low-carbon nickel.
One part of the IRA has made it challenging for Indonesia to export nickel to the US. As it stands, EVs must meet foreign entity of concern (FEOC) rules to qualify for the US$7,500 tax credit outlined under the IRA.
The US considers nations like China, Russia, Iran and North Korea to be areas of concern. Under rule 30D of the act, these nations cannot control more than 25 percent of the board seats, voting rights or equity interests of any company that supplies critical minerals for EV batteries destined for the US.
This has been a major obstacle for Indonesia as it has worked to build a trade partnership with the US.
Manthey outlined how Trump may seek to tighten rules, making a trade pact with Indonesia more difficult.
“Indonesia has been trying to reduce China-based ownership of new nickel projects to help its nickel sector qualify for the IRA tax credits. Tighter FEOC rules would create more issues for nickel supply chains, and would be an obstacle to Indonesia’s goal of expanding its export market to the US,” she said.
Manthey also said if the rules are tightened, primary and intermediate production will continue to be sent to China.
Barring any major shift in the supply and demand environment, nickel prices are unlikely to see significant gains over the next year. For investors, this is likely to make for a less supportive environment.
“The surplus in the Class 1 market is reflected in the rising exchange stocks," said Manthey.
"Further inflows of Chinese and Indonesian metal into the exchange’s sheds could put additional downward pressure on the London Metal Exchange’s nickel prices," she added in her comments to INN.
For Manthey, the potential upside would be stronger stainless steel output or restricted ore supply from Indonesia. However, slower EV market growth or the cancellation of some incentives in the US could offset this.
Overall, she isn’t expecting large price movements in the coming year.
“We forecast nickel prices to remain under pressure next year as the surplus in the global market continues. We see prices averaging US$15,700 in 2025,” Manthey said.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: FPX Nickel is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Nickel prices have largely trended down since breaking US$20,000 per metric ton in May 2024.
The decline has been attributed to refined nickel oversupply, driven by high output from Indonesia, which mined an estimated 2.2 million metric tons of nickel in 2024 and accounted for more than 50 percent of global output.
The threat of US tariffs has also weighed heavily on markets that are reliant on nickel and its downstream products, such as the stainless steel and electric vehicle battery industries.
These factors pushed nickel to five year lows in the US$15,000 range in Q1.
Nickel price, January 2 to April 22, 2025.
Chart via Trading Economics.
While nickel has trended down for the past year, 2025 began with upward momentum. It opened the year at US$15,040 on January 2 and rose to US$16,080 before declining to close out the month at US$15,230.
Nickel prices started to gain briefly at the beginning of February, increasing to US$15,875 on February 6 before experiencing volatility until the end of the month, finishing at US$15,590 on February 28.
The start of March saw upward movement, and nickel hit a year-to-date high of US$16,720 on March 12.
Prices for the base metal remained above the US$16,000 mark until the end of March, when substantial pressures caused levels to plunge to US$14,150 on April 8.
Over the past several years, oversupply has presented a significant headwind for nickel prices.
Due to heavy investment from China, Indonesia has emerged as the world's dominant nickel supplier. However, even though its refined output has remained high, Indonesia has faced a tight nickel ore market because of reduced quotas, which have compelled smelters to import record volumes from the Philippines.
A recent Filipino government proposal to follow Indonesia’s lead in banning exports of raw nickel products could disrupt the situation and introduce further challenges for refiners, impacting global supply chains.
The proposal arose amid rumors of higher mining royalties that have circulated since the start of the year. This speculation boosted nickel prices as higher production costs started to be factored into prices.
The royalty hikes were approved on April 11, and will raise the current 10 percent rate to between 14 and 19 percent, depending on the nickel price. Lower-quality nickel mattes used in battery production will incur a 2 percent royalty.
Jason Sappor, senior analyst for metals and mining research at data provider S&P Global Commodity Insights, noted that the increase will pose another challenge for the industry.
“The hike in royalty tax rates on nickel products by Indonesia’s government represents another headwind for domestic nickel producers already under pressure from rising production costs due to elevated nickel ore prices stemming from tight ore availability,” he said in comments to the Investing News Network (INN).
Indonesian nickel miners previously asked the government to reconsider the change.
In a letter to government officials, industry stakeholders stated that the increases to mining royalty levels in the country are “unrealistic and do not reflect the current state of the industry.”
Another factor that impacted the nickel industry during the first quarter of the year was the threat and eventual implementation of US tariffs against China, the world’s largest consumer of nickel.
Ewa Manthy, commodities strategist with ING, suggested tariffs will further impact a beleaguered nickel market.
“London Metal Exchange (LME) nickel has been mostly rangebound amid heightened trade tensions," she said.
"We expect US trade tariffs will put pressure on manufacturing activity in China, the world’s largest primary nickel consumer," Manthey explained to INN. "This would put additional pressure on LME nickel prices, already weighed down by oversupply, rising exchange stocks and bearish investor sentiments."
Manthy’s prediction has held true so far, with nickel prices plummeting 11.5 percent in the week following US President Donald Trump’s tariff announcement on April 2. The move has sparked fears among investors who worry that the escalating trade war will push the world into a global recession.
Even though nickel rebounded after Trump put a pause on larger reciprocal tariffs, there is still a high level of uncertainty regarding nickel demand, especially as the effective tariff rates on China have grown to 145 percent.
Tariffs are unlikely to affect nickel supply in the short term; however, they could significantly impact demand. The effects will be more pronounced in the US, as tariffs will more than double the costs of goods from China for importers.
The primary destination for nickel is the production of stainless steel.
While long-term global demand is expected to remain robust, with refined nickel projected to see a 4.6 percent compound annual growth rate between 2023 and 2035, there are more immediate headwinds.
Demand for stainless steel in China’s housing sector and slower growth in home appliances has dragged down overall nickel demand in the Asian nation. Although the overall effects could be worse, government policy and stimulus have only provided marginal support. Chinese stainless steel markets were also affected as new carbon tariffs and anti-dumping duties from Europe’s carbon border adjustment mechanism came into effect.
This has led analysts to predict another year of surpluses in China’s stainless steel market, with production increasing by 10.6 percent year-on-year in the first quarter and March output coming to 3.58 million metric tons. Even so, stockpiles stand at 155,000 metric tons, down significantly from 333,000 metric tons in Q1 2024.
The size of the stainless steel market may help moderate a decline in demand from the electric vehicle battery market, which is another significant destination for nickel. According to an April 14 report from S&P Global, the fall in battery demand comes despite growing demand for electric vehicles in both China and Europe; this has been attributed to producers transitioning to nickel-free battery chemistries, particularly lithium-iron-phosphate.
Producers see a greater cost advantage in this composition, and the switch has caused demand for nickel-manganese-cobalt batteries to shrink by 19 percent from January to February.
Due to this fallout, battery precursor producer CNGR Advanced Material (SZSE:300919) said it would be pausing investment in its South Korean nickel smelting project.
The battery sector represented 11.5 percent of total nickel demand in 2024.
The short term for nickel could very well hinge on how Trump’s tariffs affect the global economy.
“A slowdown in global economic activity would have a detrimental impact on China’s exports of nickel-containing consumer goods, denting global primary nickel demand in a market already grappling with oversupply due to expanding production in top primary nickel producers Indonesia and China,” Sappor said.
He added that weaker fundamentals will likely increase bearishness in the nickel market and ultimately work to further depress prices for the base metal on the LME.
“Considering these potential dynamics as well as further evolutions in the Trump administration’s trade tariff policies, we expect nickel prices to remain volatile in the near term,” Sappor stated.
Manthy is also pessimistic about a market turnaround in the near to medium term.
“The main downside risk to our supply and demand outlook is further downgrades to nickel demand from the electric vehicle sector, but this could be offset by no growth in Indonesian supply. The medium-term supply and demand balance is not supportive of a significant rise in nickel prices,” she said.
For investors, a bear market might provide opportunities, but the risk is that nickel prices may still have a ways to go before they bottom out. The next quarter could offer more certainty in global financial markets.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Nickel prices experienced volatility in 2024 due to uncertainty on both the demand and supply sides.
This trend has continued into the first quarter of 2025, and is expected to remain for the year. While this environment has been tough, some nickel stocks are still thriving amid the ongoing uncertainty.
Supply is expected to outflank demand over the short term, but the longer-term outlook for the metal is strong. Demand from the electric vehicle (EV) industry is one reason nickel's outlook looks bright further into the future.
Battery nickel demand is poised to triple by 2030, according to Benchmark Mineral Intelligence.
“Mid and high level performance EVs will be the primary driver of battery nickel demand growth in the coming years, particularly in Western markets,” said Jorge Uzcategui, senior nickel analyst at the firm.
“There will be growth in China, but it won’t be as pronounced as in ex-China markets.”
As for Canada, nickel is listed as a top priority in the government's Critical Minerals Strategy. The country is the world's fifth largest producer of nickel, with much of its production coming from mines in Ontario's Sudbury Basin, including Vale’s (NYSE:VALE) Sudbury operation and Glencore's (LSE:GLEN,OTC Pink:GLCNF) Sudbury Integrated Nickel Operations.
Against that backdrop, how have Canadian nickel stocks performed in 2025? Below are the top nickel stocks in Canada on the TSX, TSXV and CSE by share price performance so far this year.
All year-to-date and share price data was obtained on March 26, 2025, using TradingView’s
stock screener. Canadian nickel stocks with market caps above C$10 million at that time were considered.
Year-to-date gain: 40.37 percent
Market cap: C$364.15 million
Share price: C$1.53
Power Metallic Mines, formerly Power Nickel, is developing its 80 percent owned Nisk polymetallic property in Québec, Canada, which hosts high-grade nickel, copper, platinum, palladium, gold and silver mineralization.
The company was recognized as one of 2024's top 50 performers on the TSX Venture Exchange, ranking as the top mining company and fourth overall company due to its 365 percent share price appreciation for the year.
Ongoing work at the Nisk project has generated positive newsflow for Power Metallic in 2025. After starting the year at C$1.07, the company's share price climbed to C$1.49 by January 30 following two key announcements.
First, the company released drill results from a 2024 fall campaign at Nisk's Lion zone and said it was starting a winter 2025 drill campaign at the site. Shortly after, it announced the discovery of Tiger, a new find located 700 meters east of the Lion zone; it said it would target Tiger during winter drilling. From there, Power Metallic shares jumped more than 26 percent to reach C$1.88 on February 6, the highest point of Q1. This followed further drill results out the 2024 fall campaign, with notable assays further demonstrating the high-grade nature of the mineralization.
Other notable news supporting the company's share price this quarter includes the closing of a C$50 million private placement and plans to scale up the 2025 winter drill campaign from three to six rigs in the second quarter. Additionally, further results from the 2024 fall campaign expanded the Lion zone with the deepest assayed intersection to date, plus initial nickel-copper assays from the new Tiger zone.
Year-to-date gain: 25.93 percent
Market cap: C$273.59 million
Share price: C$1.70
Magna Mining is a base metals exploration and development company based in Sudbury, Ontario. The company’s flagship assets are the Shakespeare mine and the Crean Hill project.
Shakespeare is a past-producing nickel, copper and platinum-group metals mine with major permits in place. The property hosts an indicated open-pit resource of 16.51 million metric tons at 0.56 percent nickel equivalent. Crean Hill also hosts a past-producing mine that produced the same resources.
Magna's share price started off the year at C$1.42, and gradually climbed throughout the following weeks to reach a year-to-date high of C$1.84 on February 5.
Its share price was supported by continued positive updates on its acquisition of a portfolio of base metals assets in the Sudbury Basin, including the producing McCreedy West copper-nickel mine, through a share purchase agreement with a subsidiary of KGHM Polska Miedz (FWB:KGHA). The company closed the deal at the end of February.
Magna was included in the 2025 TSX Venture 50 list, which was released in mid-February, and closed a C$33.5 million private placement in early March.
Year-to-date gain: 23.53 percent
Market cap: C$79.45 million
Share price: C$0.105
Talon Metals is focused on developing high-grade nickel resources for the US domestic battery supply chain. The company has partnered with mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) on the Tamarack nickel-copper project located in Minnesota, US. Talon has an earn-in right to acquire up to 60 percent of Tamarack and currently owns 51 percent. The US Department of Defense awarded Talon a US$20.6 million grant in September 2023.
An environmental review process is underway for the proposed Tamarack underground mine. The company plans to process ore from the mine at a proposed battery mineral processing facility in North Dakota. Talon has said it intends to initiate the permitting process for the processing facility in 2025.
Talon has a six year offtake deal with Tesla (NASDAQ:TSLA) for a total of 75,000 metric tons, or 165 million pounds, of nickel concentrate, as well as cobalt and iron by-products, from Tamarack once it's in commercial production.
The company is also the operator of the Boulderdash nickel-copper discovery and numerous high-grade nickel-copper prospects in Michigan, which it optioned to Lundin Mining (TSX:LUN,OTC Pink:LUNMF) in early March.
Talon shares hit a year-to-date high of C$0.105 on March 26. That day, the company announced a significant massive sulfide discovery at Tamarack with an intercept measuring over 8.25 meters logged as 95 percent sulfide content.
Year-to-date gain: 16.67 percent
Market cap: C$32.61 million
Share price: C$0.14
Stillwater Critical Minerals’ flagship asset is its Stillwater West polymetallic project in Montana, US. In addition to the platinum-group elements, copper, cobalt and gold resources identified on the property, a January 2023 inferred mineral resource estimate on Stillwater West shows it has the largest nickel resource in an active US mining district.
Stillwater Critical Minerals' share price reached a year-to-date high of C$0.14 on March 26.
On that day, the company reported multiple large-scale magmatic sulfide targets following analysis of a property-wide third-party MobileMtm magneto-telluric geophysical survey completed in late 2024.
The data from the survey was also used to build a new 3D geological model of the lower Stillwater Igneous Complex that will help the company to further prioritize targets at Stillwater West in an upcoming planned drill campaign.
Year-to-date gain: 15.22 percent
Market cap: C$25.22 million
Share price: C$0.265
First Atlantic Nickel is developing its wholly owned Atlantic nickel project in Newfoundland and Labrador, Canada. The large-scale project hosts a naturally occurring nickel-iron alloy that contains about 75 percent nickel with no sulfur or sulfides. Called awaruite, it is known for its strong magnetic properties. Its easier and cleaner to separate and concentrate than conventional nickel ores as it can be processed without a smelter.
A series of catalysts in February gave the company’s stock value a boost to the upside. On February 19, it shared that drilling had confirmed "the RPM zone extends 400 meters along strike and 500 meters wide, remaining open at depth and along strike to the north and west, indicating significant expansion potential."
Initial Phase 1 assay results from the Super Gulp zone were released on February 26 showing up to 0.32 percent nickel with an average of 0.25 percent nickel over the entire 293.8 meter length. First Atlantic Nickel said the results confirm "the presence of a major new nickel zone." That same day, shares of First Atlantic surged to C$0.33.
The next month, on March 4, First Atlantic reported a new discovery at the RPM zone with intersects of 0.24 percent nickel over 383.1 meters, and 10 kilometers downstrike from Super Gulp.
First Atlantic shares reached their highest year-to-date value of C$0.35 on March 13 after the firm announced initial metallurgical test results from the first drill hole at the RPM zone. It said “the results confirm the potential for magnetic separation as a viable processing method for awaruite nickel mineralization previously identified at the RPM Zone.”
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
With its diverse applications in both technology and industry, nickel is a metal that will never go out of style.
Nickel is commonly used in alloys to create stainless steel, but more recently has found a modern use: batteries. As the electric vehicle trend gains steam, the base metal is in high demand for its role in lithium-ion batteries.
Nickel has encountered much volatility in the past few years. After spiking to record highs in 2022, the nickel price has been on a downward trend on oversupply from top-producing country Indonesia and economic uncertainty dampening demand.
Tariffs could further disrupt the nickel market going forward, but whether that's to the upside or the downside remains to be seen.
Against that backdrop, some Australian nickel companies are still making moves. Here the Investing News Network has listed the top nickel stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on April 9, 2025, and all companies had market caps above AU$5 million at that time. Read on to learn more about them.
Year-to-date gain: 43.75 percent
Market cap: AU$17.51 million
Share price: AU$0.12
Nordic Resources is exploring its Pulju nickel-copper-cobalt project in Northern Finland, which hosts a near-surface JORC-compliant resource with the potential to produce Class 1 nickel and battery materials for European markets.
The 2024 JORC mineral resource estimate is contained within the Hotinvaara deposit. The deposit hosts indicated resources of 42 million tonnes at 0.22 percent nickel for 92,700 tonnes of contained nickel, as well as inferred resources of 376 million tonnes at 0.21 percent nickel for 770,100 tonnes of contained nickel.
In January, Nordic picked up an additional three exploration licenses in the region to bring the size of the landholdings for the project to 46 square kilometres. This gives the company "full exploration rights over 12 kilometers of continuous strike within the known, mapped Mertavaara Formation."
Shares of Nordic Resources hit a year-to-date high of AU$0.12 on April 9, days before the company announced a large-scale acquisition of three Finnish gold projects.
Year-to-date gain: 42.86 percent
Market cap: AU$8.17 million
Share price: AU$0.010
Pivotal Metals is an exploration and development-stage company has two properties in Québec, Canada: the Belleterre-Angliers Greenstone Belt (BAGB) project and its flagship advanced-exploration Horden Lake project. Both properties contain copper, nickel and platinum group metals mineralization.
Horden Lake hosts a JORC-compliant indicated and inferred mineral resource estimate of 27.8 million tonnes at 1.49 percent copper equivalent, comprising copper, nickel, palladium and gold.
Pivotal announced its 2025 field programs at both properties in February. At Horden Lake, the company announced plans for 1,500 meters in diamond drilling along with the final stages of metallurgical test work to update the resource estimate.
At BAGB, the company is assessing targets for its planned Q2 field program across three project areas. According to the company, the "targets leverage extremely high-grade Ni-Cu-PGM from historical drilling on each project, as well as known high grade gold and VMS potential.
Shortly after, Pivotal announced that its fixed loop time domain electromagnetic (FLTEM) survey at Horden Lake defined large undrilled conductors extending along strike and down plunge of the deposit.
The company released metallurgical test results from Horden Lake in March that demonstrated total copper recoveries of 87 to 94 percent with clean copper concentrates produced that grading 22 to 28 percent copper. In addition, the test work produced high-grade clean nickel concentrates grading approximately 12 percent nickel with the potential for nickel recoveries exceeding 50 percent at expected resource sulphur grades.
Step-out drilling at Horden was completed in early April and assay results are expected to be published in Q2 2025. Shares of Pivot started the year at AU$0.007 and hit a year-to-date high of AU$0.01 on April 9.
Year-to-date gain: 7.94 percent
Market cap: AU$75.88 million
Share price: AU$0.365
Ardea Resources is developing its wholly owned Kalgoorlie nickel project (KNP) in Western Australia, which includes the Goongarrie Hub deposit. The company has said the project “hosts the largest nickel-cobalt resource in the developed world.” It is currently working toward a planned definitive feasibility study (DFS).
A 2023 prefeasibility study for the KNP Goongarrie Hub shows an ore reserve of 194.1 million tonnes at 0.7 percent nickel and 0.05 percent cobalt, resulting in 1.36 million tonnes of contained nickel and 99,000 tonnes of contained cobalt. The study indicates an open-pit operation with a 40 year life and annual output of 30,000 tonnes of nickel and 2,000 tonnes of cobalt.
In February 2024, Ardea shared that Sumitomo Metal Mining (TSE:5713) and Mitsubishi (TSE:8058) had agreed on AU$98.5 million in funding and a scope of work for the KNP Goongarrie Hub DFS.
In its quarterly operations report for the quarter ended 31 December 2024, Ardea provided an update on the progress it's making toward completing the DFS. This includes bench-scale metallurgical testing, process plant development, geology and resource workflows. The news, released on January 28, helped boost the company's stock price by 14 percent to AU$0.40 per share on January 28.
The following month, Ardea announced that it had awarded the hydrogen sulphide plant work package to engineering services firm Lycopodium. The plant will be used to precipitate mixed sulphide precipitate, which is a high purity nickel and cobalt sulphide product. MHP is a precursor for the production of electrolytic nickel, nickel powder and nickel sulphate for the battery industry.
Shares of Ardea reached a year-to-date high of AU$0.48 on February 24.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is excited to report assay results from drill hole AN-24-05, the fourth and final hole of the Phase 1 drilling program at the RPM Zone, located within its 100%-owned Atlantic Nickel Project in central Newfoundland. This hole, positioned as a 400-meter step-out to the north of the initial discovery hole (AN-24-02), intersected 396 meters grading 0.23% nickel and 0.29% chromium, starting after 6 meters of overburden and continuing to the end of the hole. These results confirm an initial 400-meter north-south mineralized strike length of near surface mineralization.
Together with the three prior Phase 1 holes, AN-24-05 delineates a 400-meter by 500-meter mineralized footprint at the RPM zone, averaging 0.23% nickel. Notably, all Phase 1 Drill holes ended in mineralization, indicating substantial potential for further expansion. Phase 2 drilling commenced on May 7, 2025, is currently underway, targeting extensions of the RPM Zone in multiple directions: northward toward Pipestone Pond, eastward toward Chrome Pond, and westward into a fault zone, where hole AN-24-03 intersected increasing nickel grades associated with a newly discovered fault zone. Davis Tube Recovery (DTR) metallurgical test results for holes AN-24-04 and AN-24-05 are pending. Situated within the Company's 30-kilometer ultramafic ophiolite nickel trend, the RPM Zone lies 12 km south of Super Gulp Zone and 26 km south of the Atlantic Lake Zone, reinforcing the broader district-scale potential for multiple nickel discoveries across this underexplored belt.
Highlights
RPM Zone: Drill Hole AN-24-05 Overview
Drill hole AN-24-05, the fourth and final hole of the RPM Zone Phase 1 program, was drilled in an eastward direction, approximately 400 meters north of the initial discovery hole AN-24-02, targeting the northward extension of mineralization toward Pipestone Pond. The hole reached a depth of 402 meters, intersecting serpentinized peridotite hosting disseminated awaruite nickel mineralization after 6 meters of overburden to the end of the drill hole. Assay results returned an average of 0.23% nickel and 0.29% chromium over 396 meters, with peak values reaching 0.29% nickel and 0.55% chromium. Importantly, the hole ended in mineralization, indicating further expansion potential eastward and at depth, towards Chrome Pond.
Large, visible awaruite grains were disseminated throughout AN-24-05, consistent with observations from the prior three Phase 1 holes at the RPM Zone. Collectively, Phase 1 drilling has defined a 400-meter by 500-meter mineralized zone, averaging 0.23% nickel, with continuous awaruite mineralization intersected in all four holes. As each Phase 1 hole ended in mineralization, the RPM Zone presents considerable opportunity for further expansion in all directions as part of the ongoing Phase 2 drilling program.
Table 1: AN-24-05 Drilling Assay Results
| Hole ID | From (m) | To (m) | Interval (m) | Ni (%) | Cr (%) |
| AN-24-05 | 6 | 402 | 396 | 0.23 | 0.29 |
| including | 6 | 87 | 81 | 0.23 | 0.30 |
| including | 87 | 192 | 105 | 0.24 | 0.30 |
| including | 192 | 297 | 105 | 0.24 | 0.28 |
| including | 297 | 402 | 105 | 0.22 | 0.28 |
| including "up to" | 0.29 | 0.55 |
Table 2: AN-24-05 Drill Hole Collar Location Information
| Hole ID | Easting (UTM) | Northing (UTM) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) |
| AN-24-05 | 567322 | 5357995 | 230 | 90 | -60 | 402 |
Figure 1: Map of the 30-kilometer-long nickel trend within the Pipestone Ophiolite Complex, illustrating the locations of Phase 1 drill holes (AN-24-01 through AN-24-05) and corresponding nickel and chromium assay results. The map highlights the spatial distribution of mineralized intercepts and outlines key target areas for ongoing Phase 2 drilling, including Pipestone Pond, Chrome Pond, and the RPM Zone.
Phase 2 Program
First Atlantic launched its fully funded Phase 2 program on May 7, 2025, employing a high-powered drill rig with NQ/HQ core capabilities to boost efficiency and depth capacity.
The Phase 2 program is designed to achieve the following key objectives:
Phase 2 drilling aims to expand on the Phase 1 discovery at the RPM Zone, which established an initial mineralized area at-least 400 meters in strike length and 500 meters in lateral width. Strategic step-out drilling in all directions and targeting greater depths will test the expansion potential of the RPM Zone. Enhanced by full road access and a more powerful drill rig, Phase 2 is expected to achieve significant cost efficiencies and faster drilling times.
Figure 2: Phase 2 drilling plan map highlighting the RPM drilling zone area (circled in green), showing the Phase 1 discovery hole locations, which defined mineralization over at least a 400-meter by 500-meter area and remains open for expansion in multiple directions.
Figure 3: RPM Hole 4 Drill Core (AN-24-05) at 190 meters depth. Top image: Drill core showing disseminated awaruite (sulfur-free nickel alloy), in serpentinized ultramafic peridotite within the RPM Zone. Bottom images: Awaruite grains from 190 meters depth (up to 732 microns) under microscope, with saw blade streaks visible due to ductile, highly-magnetic nature of awaruite.
Figure 4: RPM Hole 4 (AN-24-05) drill core, at 28 meters depth. Top image: Disseminated awaruite (sulfur-free nickel alloy) in serpentinized peridotite with magnetite veins. Bottom images: Awaruite grains (up to 349 microns) under a microscope at 28 meters depth.
Figure 5: RPM Hole 4 Drill Core (AN-24-05) at 401 meters depth. Top image: Abundant, visibly disseminated awaruite grains (typically 50-100 microns, with some up to 323 microns). Bottom image: Awaruite grains from RPM DDH004 at 401 meters depth under a microscope, showing grains well above 10-micron size required for effective magnetic separation and recovery.
Metallurgical Program
Davis Tube Recovery (DTR) testing is underway for drill holes AN-24-04 and AN-24-05, the third and fourth RPM Zone holes, to quantify magnetically recoverable nickel and confirm suitability for commercial-scale magnetic separation. Initial DTR results from Phase 1 holes AN-24-02 and AN-24-03 produced magnetic concentrates averaging ~1.35% nickel with a ~9.5% mass pull and magnetically recoverable nickel grades averaging ~0.12% (ranging from 0.10% to 0.16%). These findings, paired with large-grain awaruite (up to 1,000 microns), support a low-energy, smelter-free processing flowsheet using magnetic separation, followed by flotation, to yield a high-grade nickel concentrate. Pending DTR results for AN-24-04 and AN-24-05 are expected to further refine the Company's metallurgical approach, aligning with sustainable development objectives and North America's critical minerals strategy.
Corporate Update
The Company also announces that all the resolutions considered at its Annual General and Special Meeting held on May 13, 2025 (the "Meeting") were approved by the Company's shareholders.
At the Meeting, the Company's shareholders approved the following resolutions:
Further details regarding the resolutions are available in the Company's management information circular, dated April 7, 2025, which can be found under the Company's SEDAR+ profile at www.sedarplus.ca .
The Company also announces that Mr. Sang Goo (Collin) Kim and Mr. Ken KM Chung did not stand for re-election to the Board. First Atlantic extends its sincere appreciation to Mr. Kim and Mr. Chung for their dedicated service and valuable contributions to the Company. We wish them continued success in all their future endeavors.
Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)
Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching 1 . Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC) 2 . These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.
The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel" 3 . Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.
Figure 6: Quote from USGS on Awaruite Deposits in Canada
The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel 4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply 5 . Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries.
Investor Information
The Company's common shares trade on the TSX Venture Exchange under the symbol " FAN ", the American OTCQB Exchange under the symbol " FANCF " and on several German exchanges, including Frankfurt and Tradegate, under the symbol " P21 ".
Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com . Stay connected and learn more by following us on these social media platforms:
https://www.facebook.com/fanickelcorp
https://www.linkedin.com/company/firstatlanticnickel/
FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com
Disclosure
Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.
Analytical Method & QAQC
Samples were split in half on site with one half remaining in the core box for future reference and one half packaged in secure bags. QAQC method included the use of blanks, duplicates and certified reference material (standards) with one being inserted once in every 20 samples in order to test the precision and accuracy of the lab. All results passed the QA/QC screening at the lab, and all company inserted standards and blanks returned results that were within acceptable limits.
Samples were sent to SGS Canada in Lakefield, ON. SGS is an ISO 17025 certified lab, accredited and acting independently from First Atlantic Nickel Corp. Each sample is pulverized to 95% passing 74 microns (200 mesh). A 30g sub-sample is passed through a Davis Tube to separate the sub-sample into magnetic and non-magnetic fractions. Both the whole rock sample and the magnetic fraction are analyzed by sodium peroxide fusion with ICP-AES finish for major oxides and trace elements including nickel, chromium and cobalt. One in ten samples are tested for sulphur content.
True widths are currently unknown. However, the nickel bearing ultramafic ophiolite and peridotite rocks being targeted and sampled in the Phase 1 drilling program at the Atlantic Nickel Project are mapped as several hundred meters to over 1 kilometer wide and approximately 30 kilometers long.
About First Atlantic Nickel Corp.
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern) 6 .
First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.
Neither the 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.
Forward-looking statements:
This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: expectations regarding the timing, scope, and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the potential for Newfoundland and Labrador to emerge as a clean energy leader; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the province's geological features in supporting the clean energy transition, statements regarding the results of the Meeting; expectations regarding future developments and strategic plans; the composition and role of the board of directors. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
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1 https://fpxnickel.com/projects-overview/what-is-awaruite/
2 https://home.treasury.gov/news/press-releases/jy1939
3 https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
4 https://www.brookings.edu/wp-content/uploads/2022/08/LTRC_ChinaSupplyChain.pdf
5 https://web.archive.org/web/20250417033842/https://www.airuniversity.af.edu/JIPA/Display/Article/3703867/the-rise-of-great-mineral-powers/
6 https://home.treasury.gov/news/press-releases/jy1939
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3d590854-7e13-413a-8e5d-8181655d1184
https://www.globenewswire.com/NewsRoom/AttachmentNg/d7f5ac48-6888-4732-b3a9-30aaf6e26a71
https://www.globenewswire.com/NewsRoom/AttachmentNg/5933e72f-7464-42c8-9a84-64e64fc675b1
https://www.globenewswire.com/NewsRoom/AttachmentNg/95ea01d0-d6bf-494f-b4bb-2fba9c7e2b32
https://www.globenewswire.com/NewsRoom/AttachmentNg/2d29cfff-800c-47e0-b49b-5e4e59fc00c4
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