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About Core Nickel Corp. (CNCOF)
Core Nickel Corp. is a junior nickel exploration company strategically focused on advancing its portfolio of 100%-owned properties within the prolific Thompson Nickel Belt (TNB), located in Northern Manitoba, Canada. The TNB is globally recognized as one of the most significant nickel-producing regions, hosting world-class deposits and established infrastructure that positions the company for efficient exploration and potential future development.
Core Business and Strategic Assets
Core Nickel controls five exploration projects spanning approximately 27,000 hectares of highly prospective land in the TNB. These projects are divided into two key regions:
- Northern TNB Projects: The Mel, Hunter, and Odei River properties are located 15-20 km from the City of Thompson, Manitoba. The flagship Mel property includes the historical Mel deposit, which features a historical NI 43-101 resource estimate of 4.3 million tonnes grading 0.875% nickel (indicated) and 1.0 million tonnes grading 0.839% nickel (inferred). The Hunter and Odei River properties extend the same nickel-bearing stratigraphy, providing significant exploration upside.
- Central TNB Projects: The Halfway Lake and Resting Lake properties, near the community of Wabowden, are strategically located close to existing nickel deposits, mills, and infrastructure, including highways, railways, and hydroelectric power. Halfway Lake has shown promising results, including wide zones of shallow nickel-sulfide mineralization, indicating proximity to higher-grade zones.
Exploration and Development Approach
Core Nickel employs a systematic exploration strategy that integrates advanced geophysical techniques, such as Versatile Time-Domain Electromagnetic (VTEM) surveys, and targeted diamond drilling programs. The company’s recent activities include identifying high-priority drill targets and leveraging borehole electromagnetics (BHEM) to refine exploration efforts. These methods are designed to uncover new nickel sulfide discoveries while validating and expanding historical resource estimates.
Proximity to Infrastructure
A critical advantage for Core Nickel is the proximity of its projects to existing infrastructure. The Mel deposit is situated only 25 km from Vale's Thompson Mill Complex, while Halfway Lake is 15 km from the Bucko Mill. This access to highways, railways, and hydroelectric power significantly reduces logistical challenges and exploration costs, enhancing the economic potential of its assets.
Industry Context and Market Position
The global demand for nickel is driven by its critical role in stainless steel production and as a key component in lithium-ion batteries for electric vehicles (EVs). Core Nickel's focus on responsibly sourced Canadian nickel aligns with the growing emphasis on ESG (Environmental, Social, and Governance) principles in the mining industry. By operating in a stable jurisdiction with nearly 100% renewable hydroelectric power, the company is well-positioned to meet the needs of environmentally conscious markets.
Competitive Advantages
- Strategic Land Position: Core Nickel's contiguous land package in the TNB provides access to a proven nickel district with significant exploration upside.
- Advanced Exploration Techniques: The integration of VTEM surveys and BHEM ensures a data-driven approach to target identification and resource expansion.
- Proximity to Infrastructure: Access to mills, transportation, and renewable energy reduces costs and supports sustainable operations.
- Experienced Team: The leadership team includes seasoned professionals with expertise in exploration, corporate development, and capital markets.
Commitment to Sustainability
Core Nickel is committed to responsible mineral development, emphasizing community engagement, local employment, and environmental stewardship. The company's partnerships with local stakeholders and alignment with ESG principles underscore its dedication to sustainable exploration practices.
Conclusion
Core Nickel Corp. represents a compelling opportunity in the nickel exploration sector, leveraging its strategic assets, advanced exploration methodologies, and proximity to infrastructure in the world-class Thompson Nickel Belt. With a focus on responsibly sourced nickel, the company is well-positioned to capitalize on the growing demand for this critical metal in the transition to a low-carbon economy.
Core Nickel Corp. (CSE: CNCO) has announced an increase in its previously announced private placement offering. The company now plans to sell up to 7,500,000 flow-through units (FT Units) at a price of $0.30 per unit, aiming to raise gross proceeds of up to $2,250,000. This is an increase from the initially planned 5,000,000 FT Units with gross proceeds of $1,500,000. The decision to upsize the offering comes in response to higher-than-expected interest. All other terms of the offering remain unchanged from the company's earlier announcement on September 23, 2024. The offering is still subject to compliance with applicable securities laws and CSE policies.
Core Nickel Corp. (CSE: CNCO) announces a proposed $1,500,000 non-brokered private placement of flow-through units at $0.30 per unit. Each unit includes one flow-through share and one warrant to purchase a non-flow-through share at $0.30 within 36 months. Proceeds will fund Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures for the company's Thompson Nickel Belt properties in Manitoba.
Core Nickel's assets include the Mel Deposit Project, 25 km from Vale's Thompson Mill Complex, with a historic indicated resource of 4.3 million tonnes at 0.88% nickel and inferred 1.0 million tonnes at 0.84% nickel. The Halfway Lake Project, 15 km from the Bucko Mill, recently yielded promising drill results, including 91 metres at 0.37% nickel.
The company will pay finders' fees and may involve insider participation. Securities issued will have a four-month hold period.
Core Nickel Corp. (CSE: CNCO) has successfully closed its non-brokered private placement, raising $400,000 through the issuance of 8,000,000 flow-through units at $0.05 per unit. The proceeds will fund exploration programs in the Thompson Nickel Belt, Manitoba. The company's key assets include:
1. The Mel Deposit Project, located 25 km from Vale's Thompson Mill Complex, with a historic indicated resource of 4.3 million tonnes at 0.88% nickel.
2. The Halfway Lake Project, 15 km from the Bucko Mill, where recent drilling intersected 91 metres grading 0.37% nickel.
Notable investors in this offering include Paul Reid, who now owns 20.6% of outstanding shares, and Marc Pais, who now controls 11.2% of the company.
Core Nickel Corp. (CSE: CNCO) has fully subscribed its previously announced $400,000 non-brokered private placement of 8,000,000 flow-through units at $0.05 per unit. The company expects to close the offering on September 20, 2024, subject to customary conditions. Proceeds will fund geophysical surveys and winter drilling programs at its Mel and Odei River properties.
Notably, Paul Reid and Marc Pais are each subscribing for $200,000 and joining as strategic advisors. Both bring extensive experience in public markets, exploration, and development. Reid is the co-founder and past Executive Chairman of Arizona Metals Corp., while Pais is the co-founder and former CEO of the same company. Their expertise is expected to support Core Nickel's growth and exploration efforts in the Thompson Nickel Belt, Manitoba.
Core Nickel Corp. (CSE: CNCO) has announced a non-brokered private placement offering of up to 8,000,000 flow-through units at $0.05 per unit, aiming to raise up to $400,000. Each unit consists of one flow-through common share and half a warrant, with each whole warrant allowing the purchase of one common share at $0.06 within three years of the closing date.
The proceeds will fund helicopter-borne VTEM and horizontal magnetic gradiometer geophysical surveys on the company's Mel and Odei River properties, as well as support part of the winter drilling program targeting high-priority areas identified by the 2024 VTEM surveys. All securities issued will have a four-month and one-day hold period.
Core Nickel Corp. (CSE: CNCO) has announced the adoption of an advance notice policy by its Board of Directors. This policy establishes a framework for shareholder nominations of directors outside of the standard requisition or proposal processes under the Business Corporations Act (British Columbia). The policy sets deadlines and information requirements for such nominations.
For the upcoming annual general and special meeting on October 22, 2024, nomination notices must be submitted by September 22, 2024. For future annual meetings, notices must be given 30-65 days prior to the meeting date, with special provisions for meetings announced on shorter notice. The policy is effective immediately but will be subject to shareholder approval at the October meeting.
Core Nickel Corp. (CSE: CNCO) has completed helicopter-borne geophysical surveys on its Halfway Lake and Resting Lake projects in Manitoba's Thompson Nickel Belt. The surveys, conducted by Geotech , covered 1,307 line-km and utilized Versatile Time-Domain Electromagnetics (VTEM) and horizontal magnetic gradiometer technologies.
The projects, located near Wabowden, have shown significant nickel intersections in historical drilling. They benefit from nearby infrastructure including Highway 6, rail, and hydroelectric transmission. Core Nickel's VP Exploration, Caitlin Glew, expressed excitement about integrating the high-resolution data into their exploration model.
Additionally, Core Nickel received a Mineral Exploration Work Permit for the Resting Lake project, valid until April 2025. The company also announced an advertising contract with TAStocks.com for social media engagement services.
Core Nickel Corp. (CSE: CNCO) has launched helicopter-borne geophysical surveys at their 100%-owned Halfway Lake and Resting Lake projects in the Thompson Nickel Belt, Manitoba. Conducted by Geotech , these surveys utilize Versatile Time-Domain Electromagnetics (VTEM) and horizontal magnetic gradiometer technologies. The projects, located near Wabowden, feature significant historical nickel intersections and are well-positioned within an established nickel trend. The Halfway Lake Project exhibits geology similar to the Thompson deposit and includes numerous nickel occurrences, with a recent drill yielding 0.37% Ni over 91m. The Resting Lake Project also shows promise with historical intersections in ultramafic rocks. Caitlin Glew, VP Exploration, notes that the surveys will help identify conductive anomalies and assist future drilling efforts.
Core Nickel Corp. (CSE: CNCO) received a second tranche of $69,100 in nonrepayable funding from the Manitoba Mineral Development Fund (MMDF) on June 19, 2024. This follows an initial tranche, bringing the total received to $138,200 of the $207,000 grant awarded by the MMDF. The final tranche of $69,100 is expected after the completion of the company's summer exploration program on the Halfway Lake and Resting Lake properties. The company’s winter drilling program at Halfway Lake yielded 0.37% nickel over 91.05 meters. Upcoming plans include airborne VTEM surveys in July 2024. The MMDF, managed by the Manitoba Chambers of Commerce, supports strategic economic development in northern Manitoba.
Core Nickel Corp. (CSE: CNCO) has announced the granting of incentive stock options to certain directors, officers, and consultants. These options allow the purchase of up to 1,620,000 common shares at a price of $0.055 per share. The options are exercisable over a period of three years and come with a hold period expiring on September 25, 2024, as per CSE policies and applicable securities laws.
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