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. Announces Intention to Commence Normal Course Issuer Bid to Repurchase up to 5% of Its Common Shares
Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") announces its intention to commence a normal course issuer bid ("NCIB"), under which the Company may purchase up to 5,446,125 of the Company's common shares, representing approximately 5% of the issued and outstanding common shares of the Company.
Tartisan is commencing the "NCIB" because the Company's management believes that the underlying value of the Kenbridge Nickel Project which has a Mineral Resource Estimate and Preliminary Economic Assessment, along with the Company's assets as a whole, are not adequately reflected in the market price of Tartisan's common shares. Tartisan Nickel Corp. believes that the repurchase of its common shares for cancellation represents an appropriate use of the Company's financial resources and will enhance shareholder value.
The "NCIB" is expected to commence on August 22, 2022 and terminate on August 21, 2023. All common shares purchased under the "NCIB" will be purchased on the open market through the facilities of the Canadian Securities Exchange (the "CSE") and/or alternative trading systems. All purchases made under the "NCIB" will be at the prevailing market price for the common shares at the time of purchase. Common shares acquired by the Company under the "NCIB" will be cancelled. Tartisan Nickel Corp. has appointed Independent Trading Group (ITG) Limited as its broker to conduct the "NCIB" purchases on its behalf.
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 Lead-Silver Project in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
Tartisan Nickel Corp.'s 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).
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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Launch of $4M Accelerated Partially Underwritten Entitlement Offer
Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).
HIGHLIGHTS
- Blackstone undertaking an accelerated non-renounceable pro rata entitlement offer to raise up to approximately A$4 million.
- Proceeds to support the Wabowden Project opportunity, the ongoing Definitive Feasibility Study (“DFS”) for Blackstone’s Ta Khoa Refinery and progress Blackstone’s strategic partnership process.
- Partially underwritten by supportive long term shareholder, Nanjia Capital with $1.65 million firm commitment and underwriting which includes an approximate $1.1m retail underwriting component.
- Opportunity for our existing shareholders to participate in the capital raising on the same terms as the institutional shareholders.
Blackstone Minerals’ Managing Director, Scott Williamson, commented:
“On behalf of the Board and Management team, I would like to thank Nanjia Capital for their ongoing support. We look forward to making further progress on our Manitoba Consolidation Strategy as we finalize the TKR Refinery DFS and complete the joint venture partnering process..”
The Entitlement Offer is supported by major shareholder Nanjia Capital Limited and controlled entities with a firm commitment to subscribe for entitlements under the Institutional Entitlement Offer up to approximately $550k and an agreement to underwrite the Retail Entitlement Offer up to approximately $1.1m (i.e. for a total investment of approximately A$1.65 million).
The Entitlement Offer will comprise the issue of up to approximately 132,714,967 New Shares at an offer price of A$0.03 per New Share (“Offer Price”), which represents a 12% discount to the last traded price of A$0.034 on 30 October 2024 and 5-day volume weighted average price.
The Entitlement Offer comprises:
- an accelerated institutional component open to eligible institutional shareholder to be conducted from Monday, 4 November 2024 to Tuesday 5 November 2024 (“Institutional Entitlement Offer” or “Institutional Offer”); and
- a retail component open to eligible retail shareholders anticipated to be conducted from Monday, 11 November 2024 to Friday, 29 November 2024 (unless extended) (“Retail Entitlement Offer” or “Retail Offer”).
The offer ratio and Offer Price for New Shares under the Retail Entitlement Offer are the same as for the Institutional Entitlement Offer.
Details of Entitlement Offer
Under the Entitlement Offer, eligible shareholders are invited to subscribe for one (1) New Share for every four (4) existing Shares held.
The right to subscribe for New Shares under the Entitlement Offer will be non-renounceable (meaning the entitlements to New Shares will not be tradable on ASX or otherwise able to be sold or transferred). If you do not take up your entitlement in full, you will not receive any value in respect of that part of the entitlement you do not take up.
All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.
Westar Capital Limited have been appointed as lead manager to the Entitlement Offer (“Lead Manager”).
Conditions of the Entitlement Offer are detailed in the Prospectus (defined below) released on the ASX platform today and the accompanying Appendix 3B to this announcement.
Institutional Entitlement Offer
Institutional shareholders with a registered address in Australia, New Zealand, Bermuda, British Virgin Islands, Brunei, Canada (British Columbia), Singapore, Germany, Hong Kong, Isle of Man, Thailand, Vietnam or the United Kingdom (“Eligible Institutional Shareholders”) will be invited to participate in the Institutional Entitlement Offer on the terms and conditions set out in the Prospectus (defined below).
The Institutional Entitlement Offer opens at 9.00am (AWST) on Monday, 4 November 2024 and will close at 5:00pm (AWST) on Tuesday 5 November 2024.
Eligible Institutional Shareholders can choose to take up all, or part or none of their Entitlement under the Institutional Entitlement Offer.
Eligible Institutional Shareholders may also apply for New Shares in addition to their entitlement at the Offer Price, to the extent there is any shortfall under the Institutional Entitlement Offer. The remaining shortfall will be offered on the same terms and conditions as the Entitlement Offer.
The Company's Shares will remain in a trading halt pending completion of the Institutional Entitlement Offer. It is expected that the trading halt will end at market open on Wednesday, 6 November 2024.
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.
Ramp Metals
Investor Insights
Ramp Metals’ strategic focus on precious and base metals is essential for various growing industries in the global market. The company is in a compelling position to potentially make a significant gold discovery in a top-tier Canadian mining jurisdiction which is currently underexplored.
Overview
Ramp Metals (TSXV:RAMP) is a grassroots exploration company specializing in precious and base metals, particularly gold and nickel-copper-PGE. The company has two properties, two situated in Northern Saskatchewan, Canada.
The flagship property, Rottenstone SW Claims is situated along a geological structure that historically yielded the highest-grade nickel and platinum group elements (PGE) in Canada. It exhibits remarkable parallels to the Nova-Bollinger nickel-copper mine in Western Australia, which was discovered by Sirius Resources and ultimately sold to IGO Limited for AU$1.8 billion. The Nova-Bollinger mine had an estimated resource of 13.1 million tons (Mt) grading 2 percent nickel, 0.8 percent copper, and 0.07 percent cobalt.The striking similarity between Rottenstone and Nova-Bollinger mine is encouraging and the appointment of Dr. Mark Bennett, the discoverer of the Nova-Bollinger deposit, as a strategic advisor, reinforces Ramp’s belief in the potential of the Rottenstone property. Bennett has over three decades of experience in establishing mines, and played a key role in multiple discoveries, such as the Wahgnion gold mine, the Thunderbox gold mine, and the Waterloo nickel mine, in addition to the Nova-Bollinger nickel-copper mine. Along with Bennett, Ramp Metals has also appointed leading geologists Scott McLean and Richard Murphy, as its strategic advisors to bolster its geology team.
The project’s presence in Saskatchewan is also encouraging for investors given the region’s mining-friendly policies. Saskatchewan was ranked second globally and the top in Canada by the Fraser Institute as the most attractive jurisdiction for mining investment in 2021.
Saskatchewan has gained prominence for its abundant uranium resources, yet its geological diversity presents significant potential beyond this. Exploration for other battery metals in the region has been limited or largely unexplored.
Current Gold Landscape
According to data from the World Gold Council, total gold demand gained a record 5 percent year-over-year to 1,313 tons during the third quarter of 2024, resulting in a series of record-high gold prices during the same quarter. The value of demand rose 35 percent to more than US$100 billion for the first time ever.
A major driver for gold’s growth are global gold ETF inflows, while bar and coin investments dipped 9 percent year-over-year. Gold jewelry consumption declined 12 percent, despite an increase in spending, with the value of demand jumping to 13 percent to more than US$36 billion.
Year-to-date central bank buying remains in line with 2022, despite a notable slowing down in Q3 2024.
Gold application in technology continues to be driven by artificial intelligence, growing 7 percent year-over-year and the “outlook remains cautious,” the World Gold Council report said.
Outlook on Battery Metals
The demand for battery metals will continue to grow, due to a strengthening EV market. S&P Global Mobility's 2024 global sales forecast anticipates battery-electric passenger vehicles will reach approximately 13.3 million units worldwide by the end of 2024, an increase of 40 percent year-over-year. In terms of market share, EVs will constitute around 16.2 percent of the total global passenger vehicle sales in 2024, compared to 12 percent in 2023.
Further, the emerging trend toward high-density batteries using nickel and cobalt, and less lithium, is also expected to boost demand for these metals. As one of the top critical minerals in the US and Canada, nickel projects are likely to see increased funding over the coming years.
There is a strong demand in the market for new, high-quality nickel-copper and lithium opportunities. Rottenstone SW borders Fathom Nickel, which recently secured C$4.6 million in funding and seems to be focusing on a similar geological system. The Rottenstone SW eye structure presents an ideal target for nickel-copper-PGE exploration.
Company Highlights
- Ramp Metals is a precious and base metals exploration company with a focus on exploring high-grade gold and nickel-copper-PGE in Northern Saskatchewan. Ramp intends to uncover a new gold district in a region that is underexplored following its discovery of high-grade gold intercepts, including 73.55 g/t gold over 7.5m.
- The company has two properties covering a total area of 33,886 hectares. Of these, two are located in Northern Saskatchewan – Rottenstone SW Claims and Peter Lake Domain (PLD).
- The company’s flagship project Rottenstone SW property is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-platinum group elements (PGE) and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
- The geophysical program at Rottenstone highlights striking similarities with the Nova-Bollinger mine in Australia owned by Sirius Resources, which was eventually sold for AU$1.8 billion.
- Dr. Mark Bennett, founder of Sirius Resources who oversaw the development of the Nova-Bollinger mine, is a strategic advisor to Ramp Metals.
Key Projects
Rottenstone SW Claims
The Rottenstone SW property is approximately 115 kilometers north of La Ronge, Saskatchewan. The property comprises 12 claims encompassing 17,285.5 hectares and is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-PGE and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
The company has completed various geophysical surveys including time-domain airborne geophysical measurements (TDEM), and soil sampling, all aimed at identifying potential drill targets. The survey results show striking similarities between Rottenstone SW Claims and the Nova-Bollinger deposit. The Rottenstone SW conductors show a strong correlation with the conductors identified at the Nova-Bollinger deposit. Based on the geophysical survey results, the company has identified four high-priority targets.
The company’s first drill program at the Rottenstone property was completed in April 2024 which led to a new high-grade gold discovery of 73.55 g/t gold over 7.5 meters in drill hole Ranger-01.
The company has expanded the Rottenstone SW claim block to a total of 32,715 hectares. Additional unexplored EM and mag targets are situated on the original claim block with similar signatures to Ranger and Rogue.
Peter Lake Domain Claims
The Peter Lake Domain (PLD) property is situated within the Peter Lake Domain of the Swan River complex in Northern Saskatchewan, Canada, around 260 kilometers northeast of La Ronge, Saskatchewan. The property comprises two mineral deposit claims spanning approximately 1,171 hectares.
Peter Lake Domain has a history of exploration done by earlier operators. The previous exploration work returned surface grab samples of gabbro outcrop with disseminated pyrite and chalcopyrite (SMDI 5545) having values of 1,860 parts per million (ppm) copper, 461 ppm nickel, 41 parts per billion (ppb) platinum and 49 ppb palladium. A historical VTEM survey conducted by Geotech outlined compelling targets. According to Ramp Metals, the earlier operators drilled the property inaccurately and did not properly test the targets that were generated.
The project has the potential to be a major new discovery. Ramp Metals plans to undertake an airborne TDEM survey to build upon historical data and identify exploration targets. Once the targets are identified, the company will implement a drill program of about 2,000 to 2,500 meters.
Management Team
Jordan Black – Chief Executive Officer and Director
Jordan Black brings over 12 years of geotechnical engineering experience for various infrastructure, renewable energy and mining projects. Black was previously the vice-president of business development at GoldSpot Discoveries and worked as a senior geotechnical engineer at WSP Canada.
Garrett Smith – VP Exploration
Garrett Smith graduated with a BSc in geology from the University of Regina. Throughout his career, he has been involved in projects across Western Canada, focusing on various commodities. His extensive expertise ranges from greenfield mapping and exploration to on-site drill management. Driven by a genuine passion for exploration, Smith has dedicated the past few years to assembling a collection of base metal projects in northern Saskatchewan.
Brett Williams – VP Operations and Senior Geologist
Brett Williams is a seasoned geologist with a diverse background, having worked as a mine geologist in both open pit and underground mining, as well as an exploration geologist in the diamond, base metals, gold and uranium sectors for Rio Tinto and SSR Mining. He earned his B.Sc. in geology and a diploma in business administration from the University of Regina. Williams is a registered member of the Professional Engineers and Geoscientists of Saskatchewan.
Prit Singh – Director
Prit Singh is a seasoned capital markets professional and presently serves as the CEO of Thesis Capital, an advisory firm offering support to high-growth companies in fundraising, Canadian market initial public offerings and investor relations. Throughout his career, Singh has collaborated with more than 50 issuers, facilitating fundraising and providing counsel, resulting in the procurement of over $100 million in capital across various emerging sectors. Before establishing Thesis Capital, he gained experience in investment banking and wealth management, fostering enduring relationships within Canada's buy-side and sell-side communities. Singh holds a BBA with a specialization in finance from Brock University.
David Parker – Director
David Parker has more than 15 years of experience in business financing, consulting and recapitalizing public/private companies in the mining, technology, and media sectors. He also has experience in retail, office, and industrial real estate sales and development. He has led projects from initial market analysis to acquisition, design, approval, site servicing, construction and disposition. He understands the financial implications of technical issues and planning policy changes, making him an effective director.
Peter Schloo – Director
Peter Schloo has a decade of experience and expertise in capital markets, operations and assurance, and holds CPA, CA and CFA designations. Additionally, he is a licensed prospector in the province of Ontario, Canada. His track record includes facilitating over C$85 million in associated capital raising opportunities for both public and private enterprises. Currently, he is the CEO, president, and director of Heritage Mining, and a director of Pacific Empire Minerals. His previous roles included CFO of Spirit Banner Capital and VP corporate development and interim CFO for Ion Energy.
Michael Romanik – Director
Michael Romanik has over 14 years of resource exploration and public market experience with an emphasis on management, promotion and corporate finance. He has built an impressive network of resource and investment industry contacts over the years, and demonstrated a proven ability to utilize those relationships to advance his business objectives. Romanik has served as the president and CEO of GoldON Resources (TSXV:GLD) since 2009 and is a founding shareholder and the CEO of Silver Dollar Resources (CSE:SLVDF).
Advisory Team
Dr. Mark Bennett, Ph.D.
A PhD-qualified geologist with over 30 years of experience in capital raising, mineral exploration and establishing mines; Instrumental in several discoveries, including the Wahgnion gold mine, the Thunderbox gold mine and Waterloo nickel mine, and the Nova-Bollinger nickel-copper mine in Australia for Sirius Resources (acquired for AUD$1.8 billion in 2015); Involved in raising over $1 billion in debt and equity financing for funding exploration and development projects and overseen mergers, demergers, acquisitions, investments and divestments.
Scott McLean, P.Geo., FGC.
A professional geologist with over 35 years of senior management, executive and board experience in the metals and mining industry. Between 1985 and 2007, he worked for Falconbridge Limited and its successor Xstrata Nickel in various capacities throughout Canada with a focus on gold and base metal exploration; Founded HTX Minerals Corp in 2007, Transition Metals Corp in 2010, SPC Nickel Corp in 2013 and Canadian Gold Miner in 2016; Currently leads Transition Metals and is the Executive Chairman of SPC Nickel.
Richard Murphy, P.Geo.
A seasoned exploration entrepreneur with 27+ years of experience in the mineral exploration business. Brought two public companies through founding, acquisition, exploration and sales processes, most notably, Manitou Gold Inc. (acquired by Alamos Gold in Q2 2023). Expertise in building and advancing junior mining companies through discovery, resource definition and pre-feasibility stages to establish fully-valued mine reserves.
Blackstone Minerals Limited (ASX: BSX) – Trading Halt (2+2)
Description
The securities of Blackstone Minerals Limited (‘BSX’) will be placed in trading halt at the request of BSX, pending it releasing an announcement regarding the outcome of the institutional component of the accelerated entitlement offer. Unless ASX decides otherwise, the securities will remain in trading halt until the commencement of normal trading on Wednesday, 6 November 2024.
Issued by
ASX Compliance
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.
Quarterly Report for the Period Ending 30 September 2024
Blackstone Minerals Limited (ASX:BSX) is pleased to present its Quarterly Report.
HIGHLIGHTS
- Blackstone completed the precursor cathode active material (“pCAM”) NCM811 (nickel-cobalt- manganese in a ratio of 8-1-1) pilot program in October 2024. This is the last stage of outstanding testwork required to finalise the definitive feasibility studies (“DFS”).
- Good progress has been made in advancing the Investment Certificate for the refinery project in Son La Province in northern Vietnam. The Son La provincial government seeks feedback from a number of key ministries on the project. The Investment Certificate is on track for approval in Q4 2024.
- The Company has agreed non-binding indicative terms with a potential Vietnamese partner, FECON Group (“FECON”). FECON has the option to acquire up to 10% in the refinery project. FECON is a leading engineering and construction group in Vietnam and can assist Blackstone considerably in advancing the studies and permitting of our projects.
- The Company is in the final stages of completing the Ta Khoa Refinery (“TKR”) DFS. Outstanding DFS activities include pCAM pilot program analysis and reporting, residue handling testwork and facility design and finalising geotechnical assessments.
- In October 2024, the Company hosted a strategic and Joint Venture (“JV”) investor tour of the Wabowden Project, Manitoba, Canada, showcasing the opportunities which exist within the region, being a long-term feedstock opportunity for the Company’s flagship project, Ta Khoa Refinery, Vietnam.
- End of quarter cash position of $1.85m.
- Listed investments of $1.13m at the end of the quarter.
PROJECT UPDATE
TA KHOA REFINERY COMPLETED pCAM PILOTING
After successful completion of both the Ta Khoa Nickel (“TKN”) and Ta Khoa Refinery (“TKR”) pilot campaigns to produce battery grade nickel and cobalt sulphates (Refer to ASX announcement 15 November 2022), Blackstone announced it completed the 12-week piloting program in early-October 2024. Blackstone will conclude the pilot program analysis and reporting within the next quarter.
The pCAM pilot program was the last stage of testwork required to allow the Company to finalise TKR DFS testwork activities. The pCAM pilot program utilised feedstock generated during the TKR pilot program to produce on-specification pCAM material in the chemistry of NCM811 to ‘typical’ lithium- ion battery standards for the EV market. The samples generated from the pCAM pilot program will now be distributed to JV partners and for marketing purposes.
In July 2024, the Company hosted a number of strategic investor and external technical personnel tours of the piloting facility to showcase the team’s capability and technical viability of the Project. The tour allowed the Company to demonstrate its commitment to developing a vertically integrated flowsheet from pit to pCAM. Within the upcoming quarter the Company will complete the pCAM pilot report to support the conclusion of the TKR DFS.
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.
Nordic Nickel's Rob Wrixon: Positive Metallurgical Results at Hotinvaara Enhance Pulju Project
Nordic Nickel (ASX:NNL) Executive Director Rob Wrixon is enthusiastic about the company’s Pulju project in Finland.
As highlighted by Wrixon, this project stands out due to its rare district-scale potential, particularly within Europe, where such opportunities are seldom found.
“It's about 40 kilometres of known mineralised strike, and it extends to depth as well,” he said, indicating not just surface-level, but extensive possibilities. These factors underline the critical role Pulju could play in fulfilling Europe's growing demand for domestic supply of nickel and cobalt.
The strategic location in Finland adds value, as the country accounts for 1 percent of global production. Wrixon noted, “As Europe goes further down this path of ensuring more domestic supply of these type of metals, then a project like Pulju is going to get more and more important.”
Metallurgical results from Hotinvaara
Nordic Nickel recently announced promising metallurgical test results from the Pulju project. Wrixon elaborated on these findings, emphasising their importance in transforming a low-grade deposit into a potentially viable economic asset.
“The key to everything is the metallurgy,” Wrixon stated, underscoring the critical nature of these results in transforming low-grade deposits into profitable ventures.
The findings reveal that Nordic Nickel could produce an 18.5 percent nickel concentrate, which Wrixon said is “extremely high by global standards.” Additionally, the potential to further enhance recoveries opens avenues for increased efficiency in extracting other valuable metals.
Pulju project’s polymetallic potential
Moving beyond nickel, the Pulju project offers considerable promise with its polymetallic prospects, including vital metals like cobalt, copper and platinum-group metals (PGMs). Wrixon emphasised that while nickel remains the main focus, the presence of other metals such as copper and PGMs might significantly contribute to the project's success.
He noted that during exploration, “When we look for the structural traps for the nickel, we may well be finding where the copper and PGMs are as well.”
Nordic Nickel's Pulju project holds potential for Europe's domestic critical metals supply, anchored by its strategic location and promising geological attributes. Additionally, the project's potential to yield not just nickel, but also cobalt, copper and PGMs, underscores its richness as a polymetallic site, promising diversification and increased market resilience.
Wrixon remains optimistic about the road ahead, signaling ongoing exploration and potential strategic partnerships as the company aims to unlock further value from the Pulju project.
Watch the full interview with Nordic Nickel Managing Director and CEO Todd Ross above.
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September 2024 Quarterly Report
Impressive metallurgical results from Hotinvaara, regional geological mapping campaign completed, detailed BOT database analysis ongoing.
Nordic Nickel Limited’s (“Nordic Nickel” or “the Company”) (ASX:NNL) flagship 100%-owned Pulju Project is located in the Central Lapland Greenstone Belt (CLGB) of Finland, 50km north of the town of Kittilä, with access to world-class infrastructure, grid power, a national highway and an international airport. Pulju is a rare, district scale nickel-copper-cobalt exploration and development opportunity in a progressive mining jurisdiction in Europe. Finland is also home to Europe’s only nickel smelters.
HIGHLIGHTS
- Excellent first-pass metallurgical test results for the Hotinvaara deposit were released post Quarter end.
- Premium concentrate can be produced with good nickel and cobalt recovery.
- Positive ramifications for the entire Pulju project.
- Further Bottom of Till (“BOT”) drill sample results from the Pulju Project area acquired from the Geological Survey of Finland (GTK) during the Quarter.
- Database now contains over 13,000 samples, a source of data previously unknown to the Company.
- Excellent geochemical targeting information, detailed analysis is ongoing.
- Detailed summer mapping program to prioritise future drilling targets completed during the Quarter.
- Board re-structure and other cost saving measures were implemented during the Quarter.
- An additional A$1.05M in funding was raised during the Quarter via an undiscounted private placement to existing shareholders.
- Discussions with potential strategic partners at Pulju are ongoing.
Pulju Nickel-Copper-Cobalt Project
The known nickel mineralisation in the CLGB is typically associated with ultramafic cumulate and komatiitic rocks such as those at Pulju, with high-grade, massive sulphide lenses often associated lower grade disseminated sulphides. The disseminated nickel-cobalt at Pulju is widespread both laterally and at depth and indicates the presence of a vast nickel-rich system.
Following the conclusion of the 2023 drilling campaign, in March 2024, Nordic Nickel reported an updated in situ Mineral Resource Estimate for the Hotinvaara Prospect at the Pulju Project which comprises 418 million tonnes grading 0.21% Ni, 0.01% Co and 53ppm Cu for 862,800 tonnes of contained Ni, 40,000t of contained Co and 22,100t of contained Cu1. However, the drilled footprint at Hotinvaara represents just 2km of the known 35km of strike within the known mapped, mineralised ultramafic unit at Pulju, highlighting the potential for significant resource growth.
Pulju is located 195km from Boliden’s Kevitsa Ni-Cu-Au-PGE mine and 9.5Mtpa processing plant in Sodankylä, Finland. Kevitsa provides feed for the 35ktpa Harjavalta smelter, which is located approximately 950km to the south and processes concentrate from Kevitsa’s disseminated nickel sulphide ore. Europe’s only other smelter is Terrafame’s 37ktpa Sotkamo smelter, located 560km south-east of Pulju which processes ore from the nearby Talvivaara nickel-zinc mine.
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