Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: A2D) ("Tartisan" or the "Company") is pleased to announce that the Company has closed $1,797,000.00 in flow-through financing. This was comprised of 5,615,625 flow-through units of the Company at the price of $0.32 per unit for an aggregate subscription price of $1,798.000. Each unit comprises one flow-through share and one-half of one warrant. Each full warrant will entitle the holder thereof to acquire one additional common share of the Company exercisable at a price of $0.70 per warrant share for a period of 18 months from the Closing date. A finder's commission of 6% cash and 6% brokers warrants was paid to eligible agents including but not limited to GloRes Securities Limited. The units issued under the flow-through financing are subject to a hold period expiring four months and one day from the closing date.
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Tartisan Nickel Corp. Acquires Additional Claims for the Kenbridge Nickel Project, Advances Baseline Studies
Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA)("Tartisan", or the "Company") is pleased to announce that the Company has acquired additional contiguous claims at the Kenbridge Nickel Project, Northwestern Ontario. The total property size now consists of 93 contiguous patents, 153 single cell mining claims and 4 Mining Licenses which in total cover 4,273 ha. The patents and staked cells are owned 100% by Tartisan Nickel Corp. through wholly owned subsidiaries.
The Kenbridge Nickel Project is in the north-central part of the Atikwa Lake area and the south-central part of the Fisher Lake area, Kenora Mining Division, 70 kms east-southeast of the Town of Kenora in northwestern Ontario, Canada. The Kenbridge Nickel Deposit hosts a Nickel-Copper Resource with a 622-meter shaft.
Tartisan Nickel Corp. is also pleased to announce that Aspen Biological Ltd. staff have commenced 2024 baseline study field work which includes completing the baseline aquatic and terrestrial fieldwork within the project footprint and access road options. These studies, along with baseline data previously collected will be used to develop baseline environmental reports to support provincial and federal reviews, approvals, and permitting for advanced exploration and eventual mine development. Ongoing species at risk surveys will also help meet monitoring requirements for exploration activities under Ontario's Endangered Species Act.
Aspen Biological Ltd. is a biological consulting firm based in Thunder Bay, Ontario and provides professional consulting services to the natural resources sectors in northern Ontario. Aspen's principal, Lindsay Spenceley (H.B.Sc-Biology) is a biologist with 23 years of professional experience across North America, specializing in Species at Risk, terrestrial and aquatic baseline environmental assessments and post-development monitoring and compliance. Ms. Spenceley has provided biological support for over 70 hydroelectric, mining, solar, wind, transmission, and development projects during the baseline, impact assessment, construction & operations, and decommissioning phases of a project's life cycle. Ms. Spenceley's main professional focus has involved Species at Risk baseline screenings, habitat assessments, surveys, mitigation, monitoring, and permitting within boreal ecosystems. She has significant expertise carrying out monitoring programs for boreal caribou, wolverine, SAR bat species, and eastern whip-poor-will. She has been involved with and contributed to SAR early exploration mitigation plans, permitting under Ontario's Endangered Species Act, and baseline studies for several mining projects in northern Ontario. Mark Appleby, CEO of Tartisan Nickel Corp. states, "In addition to excellent field skills in all seasons and environments, Lindsay has considerable project management skills. Aspen Biological can leverage its network of experienced resource professionals to pull together, as needed, multi-disciplinary teams to deliver upon project requirements and timelines in a cost-effective manner".
Mark Appleby goes onto say, "Lindsay is also experienced in indigenous consultation and engagement, aboriginal traditional knowledge interviews, land use and occupancy studies, and providing environmental and biological training to Indigenous communities. She routinely works collaboratively with environmental monitors during field programs and is always willing to incorporate input, perspectives, and the opinions of others. Lindsay recently completed a 10-day Indigenous Traditional Values Data Collection Training by Terry Tobias and Associates".
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which own; the Kenbridge Nickel Project in northwestern Ontario; the Sill Lake Silver Property in Sault Ste. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead Liver Property in Peru.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA). Currently, there are 121,969,004 shares outstanding (127,669,004 fully diluted).
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Tartisan Nickel Corp. Closes $1,798,000 Flow-Through Financing at $0.32 per Unit
The proceeds from the flow-through financing are being used to fund the exploration, development, advancement and feasibility of the Company's flagship Kenbridge Nickel Project, Atikwa Lake Area, Kenora Mining District, Ontario. The Company has commenced the work program as outlined in the July 2022 P.E.A (SEDAR).
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel Project in northwestern Ontario; the Sill Lake Silver Property in Sault Ste. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru. The Company has an equity stake in; Eloro Resources Limited, Class 1 Nickel and Technologies Limited, Peruvian Metals Corp. and Silver Bullet Mines Inc.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: A2D). There are 114,538,128 shares outstanding after this current issuance.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146020
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Tartisan Nickel Corp. Files Preliminary Economic Assessment of the Kenbridge Nickel Project, Northwestern Ontario, on SEDAR
Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") is pleased to announce the completion and filing of the Preliminary Economic Assessment(" PEA") for the 100% owned Kenbridge Nickel Project, Northwestern Ontario (SEDAR August 26, 2022). The Kenbridge Nickel Project is in the Kenora Mining District, Northwestern Ontario. The property is covered by patented and unpatented mining claims totalling 4,108.42 ha. Since 1937, 665 surface and underground drill holes totalling 99,741 meters have been completed on the property. Kenbridge has an existing shaft to a depth of 2,042 ft (622 m), with 13 level stations at 150 ft. (46 m) intervals below the shaft collar and two levels developed at 350 ft (107 m) and 500 ft (152 m) below the shaft collar.
The PEA was independently prepared by P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario under the supervision of Eugene J. Puritch, P.Eng., FEC, CET.
Highlights of the PEA (All currency is $CDN unless stated otherwise)
This PEA is focused solely on underground mining of the Mineral Resources at the Kenbridge Nickel Project and provides a solid base case for moving the Kenbridge Nickel Project forward. The PEA indicates a 9-year mine plan based on a 1,500 tonne per day underground mining and processing operation, which would have the capacity and could potentially accelerate to 2,000 t.p.d. The mine plan assumes the potentially extractable tonnage of Measured, Indicated and Inferred Mineral Resources which assumes overall dilution of 47% (18% internal dilution from stope designs plus 29% external dilution) and a 94% mine recovery factor. Measured and Indicated Mineral Resources represent 3,445,000 tonnes at 0.97% Ni, 0.52% Cu and 0.013% Co (74 Mlb Ni, 39.1 Mlb Cu). Inferred Mineral Resources represent 1,014,000 tonnes at 1.47% Ni, 0.67% Cu and 0.011% Co (32.7 Mlb Ni, 14.9 Mlb Cu). Metal prices are based on long-term industry consensus forecast with nickel representing the primary contribution to revenues. USD metal prices used in the PEA were USD$10/lb Ni, USD$4/lb Cu and USD$26/lb Co. A $USD:$CDN exchange rate of 0.78 is applied.
LOM revenues from net smelter returns are estimated at $837 million. LOM operating costs are estimated at $292 million. Mining costs are estimated at $38.93per tonne mined, processing costs are $17.74 per tonne and G&A costs are $7.96 per tonne. Cash operating costs are estimated at US$3.76/lb NiEq and all-in sustaining costs ("AISC") are US$4.99/lb NiEq. LOM capital costs are estimated at $227 million and include pre-production capital costs of $133.7-million. Pre-tax Net Present Value ("NPV") is estimated at $182.5 million using a 5% discount rate. Pre-tax Internal Rate of Return ("IRR") is 26%. Payback period is 3.5 years on an after-tax basis.
Mark Appleby President and CEO of Tartisan states: "The Kenbridge Nickel Project PEA is focused solely on the current underground Mineral Resource. There is excellent potential to increase and upgrade the quality of the near surface mineralization at Kenbridge thereby adding additional years of production or providing the basis for an increase in annual throughput. The PEA provides compelling evidence to move into Pre-Feasibility and for the Kenbridge Nickel Project to move into a production scenario. The Company has commenced the necessary baseline studies and has undertaken additional studies which are essential and necessary in Project Permitting. The Company continues to upgrade the access road to site with completion anticipated in late September, October 2022.
Cautionary Statement - The reader is advised that the PEA summarized in this news release is intended to provide only an initial, high-level review of the project potential and design options. The PEA mine plan and economic model include numerous assumptions and the use of Inferred Mineral Resources. Inferred Mineral Resources are considered to be too speculative to be used in an economic analysis except as allowed by NI 43-101 in PEA studies. There is no guarantee the project economics described herein will be achieved.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and mine development company whose flagship asset is the Kenbridge Nickel-Copper Project located in the Kenora Mining District, Northwestern Ontario. Tartisan also owns; the Sill Lake Silver Property in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 108,922,503 shares outstanding (120,218,018 fully diluted).
Dean MacEachern P.Geo. and Eugene Puritch, P.Eng, FEC, CET are the respective Company and independent Qualified Persons under NI 43-101 and have read and approved the technical content of this News Release.
The Company has filed the PEA on SEDAR at www.sedar.com in accordance with NI 43-101.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135205
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VOX PROVIDES GOLD ROYALTY DEVELOPMENTS AND EXPLORATION UPDATES
Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) (" Vox " or the " Company ") a returns focused precious metals royalty company, is pleased to provide recent development and exploration updates from royalty operating partners Norton Gold Fields Pty Ltd. (" Norton Gold "), Northern Star Resources Limited (ASX: NST) (" Northern Star "), Black Cat Syndicate Limited (ASX: BC8) (" Black Cat "), Norwest Minerals Limited (ASX: NWM) (" Norwest "), and Tartisan Nickel Corp. (CSE: TN) (" Tartisan ").
Kyle Floyd , Chief Executive Officer stated: "The past two months have seen material progress on certain Vox gold royalty assets, with the opening of the Binduli North gold mine, ongoing construction at the Otto Bore gold mine by Northern Star and meaningful pre-production planning at the Bulong and Bulgera gold toll-treatment projects. This progress continues to support Vox management expectations of organic growth from 6 to 10 or more producing royalties by late 2023 and further revenue growth."
- Official opening of the Binduli North heap leach mine covered by the Janet Ivy gold royalty, released by Zijin Mining Group Co., Ltd.'s (HKSE: 2899) (" Zijin Mining ") subsidiary, Norton Gold ;
- Construction update for the Otto Bore gold mine by Northern Star;
- Final high grade drilling results at the Myhree gold deposit by Black Cat, which is covered by the Bulong royalty;
- Development of pit designs, completion of a potential site layout and preparations for Mining Lease application at the Bulgera gold deposit by Norwest; and
- Completion of a Preliminary Economic Assessment (" PEA ") and permitting update on the Kenbridge nickel project by Tartisan, indicating a potential 9-year mine life with a goal of production in approximately 3 years.
- Vox holds an uncapped A$0.50 /tonne production royalty over the Janet Ivy gold mine in Western Australia ;
- In March 2022 , Zijin Mining filed a mining proposal for the Binduli North 5Mtpa heap leach gold project, which was further described in Vox's operator update released on June 9, 2022 ;
- On July 8, 2022 , the Western Australian State Government announced :
- "The McGowan Government has congratulated Norton Gold Fields for officially opening its A$278 million Binduli North heap leach project;
- The project created 300 jobs during construction and will employ 200 workers during production; and
- The operation has an estimated 10-year life span and is expected to produce an average of 75,000 ounces of gold per year."
- Vox Management Summary: The official opening of the Binduli North mine is a major growth milestone for Vox and expected to unlock annual royalty revenues of A$2M – A$2.5M over the mine's ~10-year life. This expansion was the key potential catalyst that supported Vox management's decision to acquire the Janet Ivy royalty for ~A$5.5M in March 2021 .
- Vox holds a 2.5% net smelter return royalty (between 42koz – 100koz cumulative production) over the Otto Bore gold project in Western Australia , acquired in conjunction with the producing Janet Ivy / Binduli North gold royalty in March 2021 ;
- On July 20, 2022 , Northern Star announced :
- At Thunderbox, open pit mining continued with D Zone pre-strip and the installation of key infrastructure at Otto Bore to support open pit mining operation;
- 12% of Northern Star's A$650M group growth capex in FY23 is to be spent at Yandal hub on:
- Completion of the Thunderbox mill expansion, which is on track and on budget for commissioning and ramp up in the first half of 2023;
- Establishment of the Otto Bore mine; and
- New tailings dam.
- Vox Management Summary: Otto Bore is expected to become Vox's seventh producing royalty asset, commencing in the second half of 2022. Northern Star are developing this new gold mine as a feed source for the low-cost Thunderbox mill ahead of Vox management expectations.
- Vox holds an uncapped 1% net smelter royalty over part of the Bulong gold project in Western Australia ;
- On July 29, 2022 , Black Cat announced :
- Final Reverse Circulation (" RC ") grade control drilling at Myhree was undertaken in June 2022 . The first half of assay results have been returned and reinforced the high-grade open pit Ore Reserve of 0.6Mt @ 2.4 g/t Au for 46koz (1) ;
- Results include:
- 5m @ 19.63 g/t Au from 33m (22MYGC037);
- 7m @ 7.36 g/t Au from 30m (22MYGC038);
- 3m @ 7.29 g/t Au from 18m and 6m @ 13.91 g/t Au from 32m (22MYGC022);
- 4m @ 12.38 g/t Au from 37m (22MYGC036);
- 7m @ 4.89 g/t Au from 8m (22MYGC031);
- 3m @ 8.21 g/t Au from 6m (22MYGC032);
- 2m @ 10.24 g/t Au from 5m (22MYGC033);
- 4m @ 6.36 g/t Au from 27m (22MYGC039);
- 3m @ 11.12 g/t Au from 27m (22MYGC040);
- All grade control drilling at Myhree is now complete and remaining assays are expected in August 2022 ;
- Myhree open pit is fully approved and mining can commence once an ore processing solution is secured, discussions with interested parties are ongoing; and
- Black Cat's Managing Director, Gareth Solly , said, "Myhree was Black Cat's first discovery in 2018 and it is satisfying to know it has the potential to be our first producing mine. With the final results due within weeks, Myhree is now ready for production, subject to securing a processing solution for the high-grade ore."
- Vox Management Summary: Since Vox acquired the Bulong gold royalty from an Australian automotive group in September 2020 , the project has been aggressively advanced by Black Cat and is progressing closer to production. Black Cat is guiding towards potential commencement of toll-treated production from October 2022 onwards.
- Vox acquired the uncapped 1% NSR royalty over the Bulgera gold project in Western Australia for A$225k in March 2021 ;
- On July 29, 2022 , Norwest announced :
- Economic pit optimisation shells were developed into proper pit designs for the Bulgera, Mercuiri and Price deposits and a site layout completed;
- The company is compiling information and taking steps required to lodge an application for converting the project exploration license to a mining license;
- The application is currently being compiled and submission to the Department of Mines, Industry Regulation and Safety (DMIRS) in Western Australia is expected next quarter;
- Discussions to toll treat Bulgera gold resources continue with the local gold plant operator; and
- A program of drilling 15 x 200m RC holes to the west and east along strike from the Bulgera open cut has been approved and the commencement of this drill program is planned for 2023.
- Vox Management Summary: The Bulgera royalty was acquired for A$225k less than 18 months ago and is rapidly being fast-tracked towards a development decision with a mining license application expected next quarter. We look forward to the outcomes of ongoing discussions with the local gold plant operator regarding potential toll treatment.
- Vox holds an uncapped 1% net smelter return royalty on part of the Kenbridge nickel-copper project in Canada , which is subject to a full buyback right for C$1.5M in favour of Tartisan. Vox's 1% NSR royalty was originally created in January 2018 as part of a debt settlement between former Kenbridge project operator Canadian Arrow Mines Limited and Breakwater Resources Limited (as a subsidiary of Nyrstar);
- On July 12, 2022 , Tartisan announced the completion of a positive PEA for the Kenbridge Nickel Project (2) , with the following highlights:
- A 9-year mine plan based on a 1,500 tonne per day underground mining and processing operation;
- Life of mine revenues from net smelter returns are estimated at C$837 million (assuming USD metal prices of USD$10 /lb Ni, USD$4 /lb Cu and USD$26 /lb Co and a USD:CAD exchange rate of 0.78);
- Measured and Indicated mineral resources represent 3,508,000 tonnes at 0.70% Ni, 0.35% Cu and 0.01% Co (54 Mlb Ni, 27 Mlb Cu); and
- Inferred mineral resources represent 1,013,000 tonnes at 1.21% Ni, 0.56% Cu and 0.01% Co (27 Mlb Ni, 13 Mlb Cu).
- On August 16, 2022 , Tartisan announced that:
- Initial environmental baseline studies have concluded;
- "Phase 2" environmental baseline studies have commenced and are outlined as follows:
- Bathymetry for receiving waterbodies/Lakes surrounding the project;
- Fisheries Studies on creeks and lakes surrounding the project;
- Surface water quality sampling, stream flow monitoring and data download, and groundwater quality sampling from spring 2022 installed monitoring stations;
- Water Quality Profiling and Sampling from receiving waterbodies;
- Stage 1 Archeology Assessment;
- Stage 1 Geochemistry Assessment; and
- Tartisan's CEO Mark Appleby commented, " Baseline studies continue at the Kenbridge Nickel Project and signify the Company's commitment to an approximate three years to production timeline. The Company is continuing to review and implement all necessary steps in the permitting and mining approval process. The recently announced PEA results outlined robust economics and significant value of the Kenbridge Nickel Project. The full PEA Report will be available on SEDAR shortly ".
- Vox Management Summary: The Kenbridge royalty rights were acquired as part of the Nyrstar/Breakwater Resources portfolio of royalties in January 2021 and the project operator is now guiding towards potential first production in approximately three years. As a past-producing underground nickel-copper mine with an existing 609m shaft, this project has potential to be fast-tracked back into production.
Timothy J. Strong , MIMMM, of Kangari Consulting LLC and a "Qualified Person" under NI 43-101, has reviewed and approved the scientific and technical disclosure contained in this press release.
Vox is a returns focused precious metals royalty company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest return on invested capital in the royalty sector. Since the beginning of 2020, Vox has announced over 20 separate transactions to acquire over 50 royalties.
Further information on Vox can be found at www.voxroyalty.com .
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements".
The forward-looking statements and information in this press release include, but are not limited to, summaries of operator updates provided by management and the potential impact on the Company of such operator updates, statements regarding expectations for the timing of commencement of development, construction at and/or resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox's mining operator partners, the receipt of future royalty payments derived from various royalty assets of Vox, anticipated future cash flows and future financial reporting by Vox, and requirements for and operator ability to receive regulatory approvals.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Vox will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Vox's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties.
Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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.
Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox's royalty interests. Vox's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production from a property.
(1) | The Myhee drilling results and information in Black Cat's 29 July 2022 announcement that relates to geology, and planning was complied by Mr. Iain Levy, who is a Member of the Australian Institute of Geoscientists. See https://www.asx.com.au/asxpdf/20220729/pdf/45c9knjl083f5m.pdf . |
(2) | Tartisan's press release titled, "Tartisan Nickel Corp. Provides Positive Preliminary Economic Assessment For The Kenbridge Nickel Project, Kenora Mining District, Northwestern Ontario" dated 12 July 2022. Dean MacEachern, P.Geo. and Eugene Puritch, P.Eng, FEC, CET are the respective Tartisan and independent Qualified Persons under NI 43-101. See https://tartisannickel.com/tartisan-nickel-corp-provides-positive-preliminary-economic-assessment-for-the-kenbridge-nickel-project-kenora-mining-district-northwestern-ontario/ . |
SOURCE Vox Royalty Corp.
View original content to download multimedia: https://www.newswire.ca/en/releases/archive/August2022/18/c7341.html
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Tartisan Nickel Corp.: Environmental Baseline Studies Enter Second Phase at the Kenbridge Nickel Project, Northwestern Ontario
Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") is pleased to announce that the initial environmental baseline studies have concluded, and that "Phase 2" environmental baseline studies have commenced at the Kenbridge Nickel Project, Kenora Mining District, Northwestern Ontario.
Tartisan had previously announced that Knight Piesold Consulting ("KP") and Blue Heron Environmental ("BH") have been retained to carry out these various time sensitive environmental baseline studies (SEDAR). Environmental baseline studies are critical in the permitting and approvals process and overall advancement of the Kenbridge Nickel Project. The Company is taking the necessary steps to advance the Kenbridge Nickel Project with the goal of nickel-copper production in approximately three years.
Work in "Phase 2" is outlined as follows:
- - Bathymetry for receiving waterbodies/Lakes surrounding the project
- - Fisheries Studies on creeks and lakes surrounding the project
- - Surface Water Quality Sampling from spring 2022 installed monitoring stations
- - Water Quality Profiling and Sampling from receiving waterbodies
- - Stream Flow Monitoring and data download from spring 2022 installed monitoring stations
- - Groundwater Quality Sampling from spring 2022 installed monitoring stations
- - Stage 1 Archeology Assessment
- - Stage 1 Geochemistry Assessment
Tartisan Nickel Corp. CEO Mark Appleby commented, "Baseline studies continue at the Kenbridge Nickel Project and signify the Company's commitment to an approximate three years to production timeline. The Company is continuing to review and implement all necessary steps in the permitting and mining approval process. The recently announced PEA results outlined robust economics and significant value of the Kenbridge Nickel Project. The full PEA Report will be available on SEDAR shortly."
The Kenbridge Nickel Project is located via the Trans-Canada Highway, 10.2 km from the township of Sioux Narrows. The Kenbridge Nickel Project has a Mineral Resource Estimate (SEDAR: June 1, 2021), a 622-meter three compartment shaft with two underground level workstations and has never been mined. As previously announced, Tartisan has retained P & E Mining Consultants Inc. to update the historic Preliminary Economic Assessment ("PEA") on the Kenbridge Nickel Project. The full Kenbridge Nickel Project PEA Report will be filed on SEDAR.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and mine development company whose flagship asset is the Kenbridge Nickel Deposit located in northwestern Ontario. Tartisan also owns; the Sill Lake Silver Property in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru amongst other assets.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 108,922,503 shares outstanding (120,218,018 fully diluted).
Dean MacEachern P. Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133963
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Tartisan Nickel Corp. Provides Positive Preliminary Economic Assessment for the Kenbridge Nickel Project, Kenora Mining District, Northwestern Ontario
Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") is pleased to announce the completion of a positive Preliminary Economic Assessment(" PEA") for the 100% owned Kenbridge Nickel Project. The Kenbridge Nickel Project is in the Kenora Mining District, Northwestern Ontario. Kenbridge has an existing shaft to a depth of 2,042 ft (622 m), with level stations at 150 ft. (45 m) intervals below the shaft collar and two levels developed at 350 ft (107 m) and 500 ft (152 m) below the shaft collar.
The PEA was independently prepared by P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario under the supervision of Eugene J. Puritch, P.Eng., FEC, CET.
Highlights of the PEA (All currency is $CDN unless stated otherwise)
This PEA is focused solely on mining of the Mineral Resources at the Kenbridge Nickel Project underground mine and provides a solid base case for moving the Kenbridge Project forward. The PEA indicates a 9-year mine plan based on a 1,500 tonne per day underground mining and processing operation. The mine plan assumes the potentially extractable tonnage of Measured, Indicated and Inferred Mineral Resources which assumes overall dilution of 47% (18% internal dilution from stope designs plus 29% external dilution) and a 94% mine recovery factor. Measured and Indicated Mineral Resources represent 3,508,000 tonnes at 0.70% Ni, 0.35% Cu and 0.01% Co (54 Mlb Ni, 27 Mlb Cu). Inferred Mineral Resources represent 1,013,000 tonnes at 1.21% Ni, 0.56% Cu and 0.01% Co (27 Mlb Ni, 13 Mlb Cu). Metal prices are based on long-term industry consensus forecast with nickel representing the primary contribution to revenues. USD metal prices used in the PEA were USD$10/lb Ni, USD$4/lb Cu and USD$26/lb Co. A $USD:$CDN exchange rate of 0.78 is applied. Life of mine ("LOM") processing recovers 200,900 tonnes of nickel concentrate at 15% Ni and 66,900 tonnes of copper concentrate at 24% Cu. This results in 52.6 million lbs of payable Ni and 30.7 million lbs of payable Cu.
LOM revenues from net smelter returns are estimated at $837 million. LOM operating costs are estimated at $292 million. Mining costs are estimated at $38.94 per tonne mined, processing costs are $17.74 per tonne and G&A costs are $7.96 per tonne. Cash operating costs are estimated at US$3.76/lb NiEq and all-in sustaining costs ("AISC") are US$4.99/lb NiEq. LOM capital costs are estimated at $227 million and include pre-production capital costs of $134 million. Pre-tax Net Present Value ("NPV") is estimated at $183 million using a 5% discount rate. Pre-tax Internal Rate of Return ("IRR") is 26%.
Net cash flow of $837 million less operating costs of $292 million less royalties of $22 million less closure costs of $10 million less capital expenditures of $227 million less taxes of $105 million results in an after-tax cash flow of $180 million. After-tax NPV using a 5% discount rate is estimated at $109 million and after-tax IRR is estimated at 20%. Financial highlights are shown in Tables 1 and 2 below.
Mark Appleby, President and CEO of Tartisan, states: "We are extremely pleased with the results of the PEA which is focused solely on the current underground Mineral Resource. There remains excellent potential to increase and upgrade the quality of the near surface mineralization at Kenbridge thereby adding additional years of production or providing the basis for an increase in annual throughput. By adjusting the mining plan to be an underground operation it allows Tartisan to utilize the existing shaft infrastructure thereby accessing higher grades of mineralization early in the proposed mine life. The PEA provides compelling evidence to move towards Feasibility and for the Kenbridge Nickel Project to move into production. The Company has commenced the necessary baseline studies which are essential and necessary in Project Permitting and is upgrading the access road to site with completion anticipated in September 2022. Tartisan continues to develop positive relationships with its surrounding First Nations through its First Nation consulting partner Talon Resources and Community development Inc. Every effort is being made for the Tartisan Kenbridge Project to become a part of the nickel supply chain this decade!"
Table 1: Net Present Value and Internal Rate of Return Calculations
Pre-Tax | After Tax | |
Undiscounted NPV ($M) | 286 | 181 |
NPV (5%) ($M) | 183 | 109 |
IRR (%) | 26 | 20 |
Payback (years) | 3.4 | 3.5 |
Table 2: PEA Financial Highlights
General | Value | |
Nickel Price (US$/lb) | 10 | |
Copper Price (US$/lb) | 4 | |
Cobalt Price (US$/lb) | 26 | |
Exchange Rate (US$:C$) | 0.78 | |
LOM (years) | 9.0 | |
Production | ||
Ni Production (Mlb) | 52.6 | |
Cu Production (Mlb) | 30.7 | |
NiEq Mine Production (Mlb) | 65.3 | |
Average NiEq Annual Production (Mlb) | 7.3 | |
Operating Costs | ||
Mining Cost ($/t Mined) | 38.93 | |
Processing Cost ($/t Processed) | 17.74 | |
G&A Cost ($/t Processed) | 7.96 | |
Total Operating Costs ($/t Processed) | 64.64 | |
NSR Royalty after 1.5% buyback (%) | 2.50 | |
Cash Costs (US$/lb NiEq) | 3.76 | |
AISC (US$/lb NiEq) | 4.99 | |
Capital Costs | ||
Initial Capital ($M) | 133.7 | |
Sustaining Capital ($M) | 93.1 | |
Closure Costs ($M) | 10.0 | |
Financials | Pre-Tax | After-Tax |
NPV (5%) ($M) | 182.5 | 109.1 |
IRR (%) | 26 | 20 |
Payback (years) | 3.4 | 3.5 |
The previous Mineral Resource Estimate on the Kenbridge Project was disclosed on September 2, 2020, and was based on a combination of pit-constrained and out-of-pit Mineral Resources. There has since been 10 holes drilled in 2021. Updated engineering studies have indicated that potential pit-constrained Mineral Resources are less economic than out-of-pit Mineral Resources. Therefore, the new drill holes have been incorporated into an updated Mineral Resource Estimate based on a potential underground mining operation, as presented in Table 3 below. The effective date of the Mineral Resource is July 6, 2022.
Table 3 Mineral Resource Estimate(1-4) | |||||||||
Class | Cut-off NSR C$/t | Tonnes (k) | Ni (%) | Ni (Mlb) | Cu (%) | Cu (Mlb) | Co (%) | Co (Mlb) | NSR (C$/t) |
Measured | 100 | 1,867 | 0.99 | 41.0 | 0.50 | 20.6 | 0.017 | 0.7 | 184.40 |
Indicated | 100 | 1,578 | 0.95 | 33.0 | 0.53 | 18.5 | 0.009 | 0.3 | 180.26 |
Meas+Ind | 100 | 3,445 | 0.97 | 74.0 | 0.52 | 39.1 | 0.013 | 1.0 | 182.51 |
Inferred | 100 | 1,014 | 1.47 | 32.7 | 0.67 | 14.9 | 0.011 | 0.2 | 263.38 |
Note: Ni =Nickel Cu = Copper, Co = Cobalt, NSR = Net Smelter Return.
1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
4. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
5. The Mineral Resource Estimate is based on US$ metal prices of $8.25/lb Ni, $4.00/lb Cu, $26/lb Co. The US$:CDN$ exchange rate used was 0.76.
6. The NSR estimate uses flotation recoveries of 75% for Ni, 77% for Cu, 40% for Co and smelter payables of 92% for Ni, 96% for Cu, 50% for Co.
7. Mineral Resources were determined to be potentially extractable with the longhole mining method based on an underground mining cost of $77/t mined, processing of $19/t and G&A costs of $4/t.
Cautionary Statement - The reader is advised that the PEA summarized in this news release is intended to provide only an initial, high-level review of the project potential and design options. The PEA mine plan and economic model include numerous assumptions and the use of Inferred Mineral Resources. Inferred Mineral Resources are considered to be too speculative to be used in an economic analysis except as allowed by NI 43-101 in PEA studies. There is no guarantee the project economics described herein will be achieved.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company whose flagship asset is the Kenbridge Nickel-Copper Project located in the Kenora Mining District, Northwestern Ontario. Tartisan also owns; the Sill Lake Silver Property in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 108,922,503 shares outstanding (120,218,018 fully diluted).
Dean MacEachern, P.Geo. and Eugene Puritch, P.Eng, FEC, CET are the respective Company and independent Qualified Persons under NI 43-101 and have read and approved the technical content of this News Release.
The Company will file the PEA on SEDAR at www.sedar.com in accordance with NI 43-101 within 45 days of this news release.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130620
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Blackstone Receives A$1 Million R&D Refund Advance
Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce that it has received A$1 million as an advance from research & development (“R&D”) lending fund backed by Asymmetric Innovation Finance (“Asymmetric”) and Fiftyone Capital ("Fiftyone"), on Blackstone’s future 2024 refundable tax offset for R&D expenditure.
The advanced payment of A$1m received reflects the ongoing investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (“pCAM”). The majority of Blackstone’s investment was directed to process development and piloting programs in Australia. The $1 million will be repaid following lodgement of the R&D claim under the R&D Tax Incentive Program.
The Company’s current cash position is ~$4.1 million following receipt of the advance, with further details of the end of June 2024 cash position to be included in the Quarterly Appendix 5B due prior to the end of July 2024.
Blackstone’s Managing Director Scott Williamson commented “the additional funding allows Blackstone to complete the Ta Khoa Refinery definitive feasibility study over the coming months and continue to progress the joint venture partnership process for the Ta Khoa Project in Vietnam”.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Two Step-out Holes Extend High Grades at Horden Lake
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide the assay results of two further drill holes from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.
Highlights
- High grade copper mineralisation extended down-plunge in hole HN-24-97, the first step-out hole reported from the 2024 drill program.
- 21.5m @ 0.98% CuEq1 (0.56% Cu, 0.12% Ni, 0.07g/t Au, 0.09g/t Pd) plus additional 0.03g/t Pt, 119ppm Co, 8.3g/t Ag from 266.1m
Including 7.2m @ 1.56% CuEq from 280.4m - Deepest hole in this zone, 80-110m diagonally down-plunge from the two nearest historic holes
- 21.5m @ 0.98% CuEq1 (0.56% Cu, 0.12% Ni, 0.07g/t Au, 0.09g/t Pd) plus additional 0.03g/t Pt, 119ppm Co, 8.3g/t Ag from 266.1m
- HN-24-96 extends downwards and infills high grade mineralisation in 130m gap between previously drilled holes.
- 17.1m @ 0.58% CuEq (0.25% Cu, 0.1% Ni, 0.03g/t Au, 0.06g/t Pd) plus additional 0.03g/t Pt, 95ppm Co, 3.9g/t Ag from 203m
Including 5.1m @ 0.95% CuEq from 206.6m - 11.9m @ 1.39% CuEq (0.42% Cu, 0.33% Ni, 0.03g/t Au, 0.13g/t Pd) plus additional 0.04g/t Pt, 230ppm Co, 4.8g/t Ag from 229.7m.
Including 7.8m @ 2.1% CuEq from 229.7m
- 17.1m @ 0.58% CuEq (0.25% Cu, 0.1% Ni, 0.03g/t Au, 0.06g/t Pd) plus additional 0.03g/t Pt, 95ppm Co, 3.9g/t Ag from 203m
- Mineralisation now defined to 200-230m vertical depth in the vicinity of these holes. This is less than half the ~550m depth that mineralisation has been defined to in the central part of Horden Lake.
- Significant gold, silver, palladium, platinum and cobalt metals delineated once again, which were not assayed in this part of the deposit during previous drill campaigns.
- Consistent news-flow ahead, including results from the remaining 5,780m / 28 diamond drill holes and downhole EM surveys to be released, followed by a mineral resource update and metallurgical test-work in H2.
Managing Director, Mr Fairhall said:
“Down plunge extensions are a key pillar of the significant upside story at Horden Lake. The southern flank of the deposit has only been drilled to around 200m, whereas mineralisation is defined to ~550m in the central portion. These high grade results in the south demonstrate the strong potential for resource growth at depth, with the deposit remaining completely open across its full strike extent. In addition, we anticipate increasing the metal content of the resource through inclusion of the significant palladium, gold, cobalt, platinum and silver assays we are seeing which were never before assayed for in this portion of the deposit.
We have a significant amount of news-flow in the pipeline as we release further assays and the results of downhole surveys as they become available.”
Overview
Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts an indicated and inferred mineral resource estimate of 28mt at 1.5% CuEq, as a result of over 52,464m of drilling already completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign. 705m / 4 holes have been reported prior to this announcement.
The objectives of the drilling program were to infill missing by-product multi-element assay information, target resource expansion potential (which remains open at depth across its full extent) and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.
Figure 1: Drill plan map of the Horden Lake Cu-Ni-Au-PGM Project
Drill Hole Discussion
Holes HN-24-96 and HN-24-97 were designed to test step out and infill the deeper extensions in the southern portion of the Horden Lake deposit. Table 1 contains the significant intersections, and Figure 2 is a longitudinal section showing the spatial distribution of historical and new drill hole pierce points.
Table 1: Significant intersections. Lower cut 0.3% CuEq over 1.5m (max dilution 5m). Higher cut 1.1% CuEq over 1.5m (5m max dilution).
Figure 2: Longitudinal section looking southeast through the Horden Lake deposit
Hole HN-24-97 is located 140m down-plunge from the 2024 hole HN-24-95 (refer ASX announcement 16 May 2024), and 80m and 110m respectively diagonally down-plunge from holes previously drilled holes H25315 and H26812. Mineralisation falls within one wide intersection of 21.45m grading 0.98% CuEq (0.56% Cu, 0.12% Ni) from 266.1m (Figure 3). Higher grade intersections include 7.17m grading 1.56% CuEq (1.10% Cu, 0.13% Ni) from 280.38m, which includes 4.53m grading 2.05% CuEq (1.48% Cu, 0.18% Ni) from 282.15m. Mineralisation between 266.1 to 282.85 occurs within meta-pyroxenites, meta-gabbros, and mafic dykes and one semi massive sulphide zone. The highest grade zone, 282.85 to 287.55 m occurs within the metasediments with one massive sulphide mineralisation and included a single assay of 4.08% copper over 0.66m at 282.85m. Whilst an inferred zone of mineralisation above 0.3% CuEq was interpreted in this zone, no higher grade zone extended to this area and this intersection shows very encouraging extensions of high grade mineralisation at depth.
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This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Wyloo to Build Canada’s First Battery Materials Processing Facility in Sudbury
Privately owned critical materials company Wyloo announced on May 29 that it has secured a parcel of land in Sudbury, Ontario, to construct Canada’s first downstream battery materials processing facility.
The project is geared at bridging a gap in the conversion of raw materials to battery-grade chemicals for Canada’s electric vehicle (EV) supply chain, while also reducing the country's reliance on imports.
Construction is anticipated to align with the development of Wyloo’s Eagle’s Nest mine in Northern Ontario’s Ring of Fire region, with mine construction expected to commence in 2027 and the facility to follow thereafter.
Wyloo's facility will process nickel sourced primarily from Eagle’s Nest. It will also process third-party nickel-bearing feed and recycled battery materials, aiming to meet half of the nickel demand generated by Canada’s burgeoning EV industry.
Wyloo CEO Kristan Straub emphasized the strategic importance of this facility in a company press release.
“The urgency to bolster North America’s capacity for processing metals — particularly nickel — has never been more apparent. Our Sudbury facility will provide a critical link in the supply chain, producing low-carbon nickel sulphate and nickel-dominant precursor cathode active material (pCAM), essential components for EV batteries,” he said.
Canada building EV supply chain momentum
Wyloo’s announcement marks another development in Canada’s growing EV supply chain momentum.
In April, Honda Motor (NYSE:HMC) announced a C$15 billion investment to establish an EV value chain in Ontario.
The company wants to construct an innovative and environmentally responsible EV plant and standalone EV battery plant that will feature a cathode active material and pCAM processing plant.
The project is expected to commence production in 2028, with an annual capacity of 240,000 vehicles. The accompanying EV battery plant will have a production capacity of 36 gigawatt hours per year.
Honda’s investment aligns with Canada's strategy to become a global leader in EV production. According to Wyloo's Straub, the nation's government has committed over C$40 billion to develop a complete EV supply chain, emphasizing local production and reducing reliance on foreign imports.
In addition to its Canadian venture, Wyloo is advancing plans for an integrated battery materials facility in Kwinana, Western Australia. This project, which was announced in April 2023 and is a partnership with IGO (ASX:IGO,OTC Pink:IPDGF), aims to integrate a downstream nickel refinery with a plant producing high-value pCAM.
According to the companies, the Kwinana facility will capitalize on Western Australia’s substantial nickel reserves and existing lithium hydroxide production infrastructure.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Grid Battery Metals
Overview
Grid Battery Metals (TSXV:CELL,OTCQB:EVKRF) is a Canada-based exploration company focused on high-value battery metals required for the electric vehicle (EV) market. The company, formerly called Nickel Rock Resources, changed its name to Grid Battery Metals in April 2023 and started trading on the TSXV under the ticker CELL.
Grid is focused on EV battery metals exploration through its highly prospective lithium and nickel properties in North America. Grid has three lithium properties in Nevada: Texas Springs, Clayton Valley, and Volt Canyon. The Texas Springs property, located in Elko County, covers approximately 2,500 hectares and is adjoining the southern boundary of the Nevada North Lithium Project owned by Surge Battery Metals (TSXV:NILI). Surge recently announced high-grade lithium of up to 8,070 parts per million (ppm) lithium on the Nevada North lithium project, which increases the likelihood of a large-scale high-grade lithium discovery at Texas Spring. Initial soil sampling at Texas Spring by Grid have shown high-grade lithium over 5,600 ppm as announced on February 7, 2024.
The company has completed the first phase of its initial exploration program at Texas Springs, which included a CSAMT geophysical survey and a detailed soil sampling on a 50-meter by 100-meter spacing. Results from these two exploration programs will be key to determining its 2024 exploration plan and possible drilling locations for clay-based lithium targets.
The 2,300-acre Clayton Valley property is immediately north of Albemarle’s (NYSE:ALB) Silver Peak lithium project, the only producing lithium mine in North America. The property has strong potential to host both lithium brine deposits as well as clay-hosted deposits.
Grid has filed the NI 43-101 technical report for the Clayton Valley lithium project, using the results of prior soil samples, geophysical surveys, and drilling on the property, to help identify structure and target areas favorable to lithium accumulation and determine next steps for its overall exploration plan. The company also commenced its 2024 exploration program for the property with Rangefront Geological to perform a detailed soil sampling on a 250 metre x 250 metre spacing, and to oversee an MT geophysical survey performed by KLM Geoscience.
The Volt Canyon lithium property features sediment-hosted lithium clay targets and has excellent accessibility, enabling exploration and exploitation throughout the year. Although limited exploration has been conducted in the immediate area, regional sediment samples in the region taken by the US government returned up to 108 parts per million (ppm) lithium near the property.
Shareholders should benefit from the company’s strategy of divesting its nickel assets into a separate public company. Grid announced plans to spin off its British Columbia nickel property into a new company (ACDC Battery Metals) which will be listed on the TSX Venture Exchange under the symbol ACDC.
Grid’s management and geological team has been actively exploring for EV battery metals in Nevada for over a decade. They have been successful in finding and funding new lithium discoveries and had a number of successful exits from companies, the most recent being Surge Battery Metals, where they were responsible for the discovery of the Nevada North Lithium Project. The management’s successful track record of lithium exploration in Nevada provides confidence about the company’s future.
The support from both the US and Canadian governments through subsidies and favorable legislation continues to drive EV adoption. In particular, both countries have committed to supporting the mining industry for key battery metals with legislation like the US Inflation Reduction Act, which provides both financial and functional support to the mining industry. Buoyed by government policy, US electric vehicle sales are projected to surpass 4.6 million units by 2030 (versus the 2023 estimate of 1.3 million).
Automakers cannot produce electric vehicles without access to battery metals such as lithium and nickel. Fear of missing out is pushing automakers to lock supplies of minerals for electric vehicle batteries. As such, we are seeing increasing partnerships between miners and auto OEMs. Automakers, including General Motors, Ford, BMW, Tesla and Stellantis, have committed large investments in direct financing of mines. We see more carmakers following suit as they strive to own the full supply chain from mine to product.
Company Highlights
- Grid Battery Metals is a Canada-based exploration company focused on high-value battery metals required for the electric vehicle (EV) market.
- The company has three highly prospective lithium properties in Nevada, USA: Texas Springs, Clayton Valley and Volt Canyon. In addition, it holds a nickel project under its wholly owned subsidiary, AC/DC Battery Metals called the Grid Nickel Group, based in British Columbia, Canada.
- As Grid focuses on its lithium projects in Nevada, Grid has entered into an arrangement agreement to transfer ownership of its interests in its nickel properties in British Columbia to its wholly owned subsidiary AC/DC Battery Metals Inc. (ACDC). ACDC will be listed as a public company on the TSX Venture Exchange (TSXV) in 2024. All three lithium projects are in the early stage with exploration planned for 2024. Grid commenced its 2024 exploration program at the Clayton Valley lithium project in March 2024.
- Grid has filed the NI 43-101 Technical Report for the Clayton Valley lithium project, dated March 4, 2024, prepared by Steven McMillin P.G. of Rangefront Geological.
- Grid’s management and exploration team has been actively exploring for EV battery metals in Nevada for over a decade, and has been very successful in finding and funding new lithium discoveries, the most recent being the discovery of the Nevada North lithium project.
- EV sales are booming with projections of 4.6 million units by 2030 in the US. Battery metals such as lithium are critical for EVs. Grid Battery Metals is well positioned to be a pioneering player in the battery metals market with a strong focus on lithium, and promising properties in the US.
Key Projects
Texas Spring Project, Nevada
The Texas Spring lithium project, located in Granite Range, Nevada, is 100 percent owned by the company. The project covers approximately 400 hectares (988.4 acres) of area with 34 full lode claims and 30 partial lode claims. It is adjacent to the southern boundary of the Nevada North lithium project, owned by Surge Battery Metals. Surge’s initial drilling efforts have successfully identified lithium-rich clay deposits. A recent discovery in September 2023 showed values of up to 8,070 ppm of lithium. Initial soil sampling at Texas Spring by Grid has shown high-grade lithium over 5,600 ppm as announced on February 7, 2024.
The proximity to Nevada North Lithium certainly increases optimism for the Texas Spring Project. On top of that, the key founders and members of Surge’s geological team are also the founding management team of Grid, which further increases confidence in the project. The project enjoys excellent infrastructure in terms of paved highways and country roads.
The company recently completed the first phase of its initial exploration program at Texas Springs which included a CSAMT geophysical survey and a detailed soil sampling. Together, they would help predict geological structure and possible drilling locations for lithium targets.
Clayton Valley Project, Nevada
The Clayton Valley lithium project, located in Clayton Valley Nevada, is 100 percent owned by the company. The project is spread over approximately 930 hectares (~2,300 acres) with 118 claims. The project is located approximately 344 kilometers (~214 miles) from Reno in the northwest and Las Vegas in the southeast. Moreover, the property is around 315 kilometers (~196 miles) from the Tesla giga-factory and features good infrastructure with excellent road access and a nearby electrical substation.
The project claims are adjacent to the Silver Peak lithium project of Albemarle Corporation, which is the only producing lithium mine in North America. Clayton Valley’s lithium is contained in both underground reservoirs (aquifers) in the form of salty groundwater (brine), and in clay-hosted deposits. Historic exploration work dating back to 2021, which included three reverse circulation holes, has inferred the existence of a graben that may be a sub-basin of the larger Clayton Valley basin and may represent a secondary trap for lithium brines.
Volt Canyon Project, Nevada
The Volt Canyon lithium project, located in Monitor Valley, Nevada, is 100 percent owned by the company. The project covers an area of approximately 635 hectares (~1,569 acres) with 80 claims and is located approximately 122 kilometers northeast of Tonopah, Nevada. It benefits from excellent accessibility that enables exploration throughout the year.
Although limited exploration has been conducted in the immediate area, regional sediment samples in the region taken by the US government returned up to 108 ppm lithium near the property. The deposit’s origin is thought to be similar to Clayton Valley clay deposits, located about 180 kilometers to the south.
The exploration program includes surface sampling, auger or push drill water sampling along with geophysical work to identify drilling sites for an initial drill test on the property. Subsequently, additional surface and subsurface sampling will be executed in the form of drilling.
Management Team
Tim Fernback – President and CEO
Tim Fernback holds a Bachelor of Science from McMaster University in Hamilton, Ontario and an MBA with a concentration in finance from the University of British Columbia. He also holds a Certified Professional Accounting (CPA, CMA) designation in Canada. He has more than 30 years of experience in finance with both public and private companies in Canada and is currently a director of several publicly traded companies.
Robert Guanzon - CFO
Roberts Guanzon holds a Bachelor of Science degree in accounting and has rich experience in finance, accounting and corporate strategy. He serves as the CFO of several junior resource companies listed on the TSXV and holds a certified professional accounting (CPA, CMA) designation in Canada.
Tina Whyte – Corporate Secretary
Tina Whyte has more than 20 years of experience in the corporate and securities industry. She is an expert in several areas including corporate governance, continuous disclosure, financing transactions and regulatory filings and compliance. She also holds corporate secretary positions with other publicly listed companies.
Jay Oness – Director
Jay Oness has rich experience in all aspects of corporate management including strategic planning, business development and investor relations for public companies. He has over 20 years of experience and has served as a director, senior executive and consultant to public companies in the resource and non-resource sectors. He is currently VP of business and corporate development of Southern Silver Exploration.
Robert Setter – Director
Robert Setter holds a degree in economics and has over two decades of experience in business development, marketing and research. Previously, he has served as the senior financial editor for Report on Mining. He currently sits on the boards of three other listed mining companies.
Ali H. Alizadeh – Director
Ali H. Alizadeh is a senior geologist possessing extensive experience in mineral exploration & project management. He has been responsible for several uranium, gold and base metal projects during his exploration career with various exploration companies. He graduated with a geology degree in 1991, a M.Sc. in petrology in 1995, and an MBA at Queen’s University in 2010. He is also a member of the Association of Professional Engineers and Geoscientists of British Columbia.
Jeremy Hanson – Geological Advisor
Jeremy Hanson is a professional geoscientist with a decade of experience in mineral exploration in Canada. He is also a founder of Hardline Exploration, a geological consulting firm focused on Western Canada.
Steven McMillin - Geological Advisor
Steven McMillin boasts over 35 years of hands-on experience in mineral exploration within the United States, particularly in Nevada, earning him widespread recognition as a seasoned exploration geologist. Currently serving as the field operations manager at Rangefront Geological, he spearheads the coordination and execution of drill programs. His role includes liaising with vendors and regulatory bodies, ensuring drill safety measures, overseeing drilling and sampling procedures, and managing site reclamation efforts.
Drilling Confirms Thick Copper Zone Continuity at Horden Lake
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide assay results from two further drill holes from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.
Highlights
- HN-24-94 extends broad zones of copper rich mineralisation down-plunge of previously reported HN-24-93.
- 39.1m @ 0.97% CuEq (0.4% Cu, 0.17% Ni, 0.06g/t Au, 0.14g/t Pd) plus additional 0.07g/t Pt, 131ppm Co, 4.7g/t Ag from 154.1m
- Including 19.7m at 1.41% CuEq from 163.6m
- Includes multiple 2-3m sections grading >2% CuEq
- Drill hole infills a large area, almost 100m from any previous drill hole
- HN-24-95 confirms mineralisation continuity below HN-24-92.
- 4.95m @ 0.66% CuEq (0.23% Cu, 0.12% Ni, 0.05g/t Au, 0.14g/t Pd) plus additional 0.05g/t Pt, 240ppm Co, 3.3g/t Ag from 155.7m
- Assay results and mineralisation consistent with the lower magnetic response between the central and southern zones of the deposit
- Significant gold, silver, palladium, platinum and cobalt metals delineated once again, which were not assayed for in this part of the deposit during previous drill campaigns.
- Consistent news-flow ahead, including results from the remaining 6,392 m / 30 diamond drill holes and downhole EM surveys to be released progressively through the quarter, followed by mineral resource update and metallurgical testwork in H2.
Managing Director, Mr Fairhall said:
“Horden Lake delivers further confirmation of the wide zones of mineralisation indicative of the large, open-pittable copper project that has been defined on the project. The meaningful assays of palladium, gold, cobalt, platinum and silver, previously ignored, further reinforce the upside potential of this asset.
Logging and analysis continues, and we expect consistent news flow over the coming months as we release assays and downhole geophysics interpretations to target both grade and tonnage upside potential on the project.”
Overview
Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts a 28mt at 1.5% CuEq indicated and inferred mineral resource estimate, as a result of over 52,464m of drilling already completed on the property. Pivotal has recently completed a 7,097m 34 hole diamond drilling campaign. 2 drill holes / 264m have been reported prior to this announcement.
The objectives of the drilling program were to infill missing by-product multi-element assay information, potentially expand the resource (which remains open at depth across its full extent), and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.
Figure 1: Drill plan map of the Horden Lake Cu-Ni-Au-PGM Project
Drill Hole Discussion
Holes HN-24-92 and HN-24-93 were designed to target gaps in the resource blocks, infill and add additional missing metals assay information. Table 1 contains significant intercepts, and Figure 2 is a longitudinal section showing the spatial distribution of historical and new drill hole pierce points.
Click here for the full ASX Release
This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
3 Top Weekly TSXV Stocks: Power Nickel Leads with 70 Percent Gain
The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 14.25 points last week to close at 595.95.
One of the biggest news items this past week was Panama's presidential election, held on Sunday (May 5). Jose Raul Mulino secured 34 percent of the vote against five other candidates to become the country’s president.
Mulino was a last-minute replacement after former President Ricardo Martinelli was barred from running due to a money laundering conviction. Mulino was minister of public security during Martinelli's presidency, which ended in 2014.
The incoming president will replace outgoing President Laurentino Cortizo, who has reached the term limit for the office. Under Cortizo, Canadian mining company First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) was forced to shut down its Cobre Panama mine in November 2023. The order came after a review by Panama’s Supreme Court — it determined that a mining contract renewed earlier in 2023, which sparked protests due to its terms, was unconstitutional.
While viewed as pro-business, Mulino has indicated that he will not move forward with discussions unless First Quantum drops its US$20 billion arbitration against the country. He also vowed that any solution will not involve a contract.
For its part, First Quantum has said it will work with Panama's new administration to find a solution to reopen the mine, which accounts for more than 300,000 metric tons (MT) of copper annually and was responsible for providing more than 40,000 direct and indirect jobs in the country when it was operational.
Against that backdrop, which TSXV-listed mining stocks performed the best last week? Here are the top gainers.
1. Power Nickel (TSXV:PNPN)
Weekly gain: 70 percent; market cap: C$76.6 million; current share price: C$0.68
Power Nickel is a nickel exploration company that is currently focused on the development of its Nisk nickel-copper project in the Eeyou Istchee James Bay region of Québec, Canada. The project comprises 90 mineral claims covering an area of 4,589 hectares, and has seen significant exploration from 2021 to 2024.
Power Nickel released an initial resource estimate for Nisk in November 2023, and it outlines an indicated resource of 5.43 million MT at a weighted average grade of 1.05 percent nickel equivalent. The inferred resource stands at 1.79 million MT grading 1.35 percent nickel equivalent. The company used a nickel equivalent cut-off grade of 0.2 percent for inside the open pit and 0.55 percent for the underground portion of the deposit.
Shares of Power Nickel have seen significant gains since the middle of April, when the firm announced significant initial assay results from its Lion copper-platinum-palladium target, located 5 kilometers north of the main deposit at Nisk.
More recently, the company announced on April 24 that it had concluded its earn-in agreement for Nisk with Critical Elements Lithium (TSXV:CRE,OTCQX:CRECF), giving it an 80 percent stake in the project. Power Nickel was granted the final 30 percent interest after Critical Elements accepted the technical report it completed during the first quarter.
Last Friday (May 10), Power Nickel released further assays that expanded Lion with a new polymetallic discovery. One 5 meter interval graded 1.76 grams per MT (g/t) gold, 102.9 g/t silver, 12.7 percent copper, 20.87 g/t palladium, 1.02 g/t platinum and 0.4 percent nickel.
2. Flying Nickel Mining (TSXV:FLYN)
Weekly gain: 52.63 percent; market cap: C$13.65 million; current share price: C$0.145
Flying Nickel Mining is a nickel and platinum-group metals (PGMs) developer working to advance its flagship Minago nickel-PGMs project to production. The site is located on the southern end of the Thompson Nickel Belt in Manitoba, Canada.
The company’s most recent news came on April 11, when it released an update to Minago's measured and indicated resource. The site hosts 43.44 million MT grading 0.2 g/t palladium, 0.09 g/t platinum and 0.72 percent nickel for a total of 689.53 million pounds of nickel, 279,330 ounces of palladium and 125,700 ounces of platinum.
This marked the first addition of PGMs to the resource estimate for Minago, as well as a 42 percent increase in contained nickel from in-pit resources. In the release, Flying Nickel also said it is expecting a decision this fall for the notice of alteration to its environment act license. The company filed the notice in July 2022.
3. Sandfire Resources America (TSXV:SFR)
Weekly gain: 46.15 percent; market cap: C$388.87 million; current share price: C$0.38
Sandfire Resources America is a copper development company focused on its Black Butte copper project located east of Helena, Montana, in the US. In 2021, a state district court revoked the company's mine operating permit for Black Butte, halting construction activities at the underground mine.
Sandfire describes the project as one of the highest-grade undeveloped copper deposits in the world; a resource estimate for the project's Johnny Lee deposit completed in 2020 outlines a measured and indicated resource of 10.9 million MT grading 2.9 percent copper for a total of 311,000 MT of contained copper.
Shares of Sandfire soared following the Montana Supreme Court's February 26 decision to reinstate the company's mine operating permit. The win is a crucial step for Sandfire to continue the construction of its mine.
The most recent news from Sandfire came on April 29, when it announced assay results from exploration at Black Butte. It highlighted an intercept of 7.4 percent copper over 9.54 meters, including 10.7 percent copper over 6.26 meters. The company said the additional drilling has the potential to increase the resource and extend Black Butte's mine life.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on May 10, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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