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About Canada Nickel Co Inc. (CNIKF)
Canada Nickel Co Inc. is a pioneering mining company advancing the next generation of nickel-sulphide projects to meet the growing global demand for nickel, a critical mineral essential for electric vehicles (EVs) and stainless-steel production. Headquartered in Toronto, Canada, the company is strategically positioned in the prolific Timmins-Cochrane mining camp in Ontario, a region known for its rich mineral resources and established mining infrastructure.
Flagship Project: Crawford Nickel Sulphide Project
At the core of Canada Nickel's operations is its 100%-owned Crawford Nickel Sulphide Project, one of the largest nickel sulphide discoveries globally. The project is designed to deliver significant nickel production volumes, leveraging its proximity to key infrastructure, including roads, powerlines, and a skilled local workforce. The Crawford project also aims to integrate sustainable mining practices, positioning itself as a cornerstone for the clean energy transition.
Innovative Sustainability Initiatives
Canada Nickel is at the forefront of sustainable mining through its wholly-owned subsidiary, NetZero Metals Inc.. The company is developing proprietary processes to produce NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™, aligning with global decarbonization goals. By utilizing renewable reductants like biochar in its processing facilities, Canada Nickel aims to minimize carbon emissions while maximizing operational efficiency. This innovative approach positions the company as a leader in low-carbon metal production.
Strategic Exploration and Resource Expansion
Beyond Crawford, Canada Nickel is actively exploring and developing additional properties within the Timmins Nickel District, including the Reid, Bannockburn, Deloro, and Midlothian projects. These initiatives aim to unlock the district's vast nickel sulphide potential, with plans to publish multiple resource estimates by mid-2025. The company's extensive drilling campaigns and advanced geophysical surveys underline its commitment to resource expansion and long-term growth.
Collaborative Partnerships and Community Engagement
Canada Nickel has established meaningful partnerships with Indigenous communities, exemplified by its collaboration with the Taykwa Tagamou Nation (TTN). These partnerships not only foster economic empowerment but also ensure environmental stewardship and community well-being. Such collaborations highlight the company's commitment to ethical and sustainable development.
Market Position and Competitive Advantages
Operating in a low-political-risk jurisdiction, Canada Nickel provides investors with leverage to nickel, a critical mineral for the high-growth EV market. Its strategic focus on sustainability, combined with its significant resource base and advanced technologies, differentiates the company from competitors. As the global demand for nickel intensifies, Canada Nickel is well-positioned to play a pivotal role in the clean energy transition.
Canada Nickel Company announced promising drilling results from its Reid property, revealing 354 meters of 0.24% nickel, including sections of higher-grade mineralization of 0.39% over 15 meters and 0.57% over 6 meters. The mineralogy aligns with the flagship Crawford Project, and the Reid property has a larger geophysical footprint. An update on the Crawford resource is expected by July 6, 2022. The drilling program reaffirms the company's position in the nickel mining sector.
Canada Nickel Company (TSXV: CNC, OTCQX: CNIKF) announced the submission of the preliminary draft of the Initial Project Description (IPD) to the Impact Assessment Agency of Canada. This follows the signing of Impact Assessment Agreements with Taykwa Tagamou Nation, Matachewan First Nation, and Mattagami First Nation. This initiative aims to incorporate Indigenous communities' perspectives into the Crawford Nickel Project's development, promoting environmental sustainability and economic opportunities. The final IPD is expected to be submitted in summer 2022.
Canada Nickel Company held its annual and special meeting on April 20, 2022, where all director nominees were elected, and MNP LLP was appointed as auditors. The company also announced the acquisition of properties in the Timmins nickel-sulphide district, agreeing to issue 50,000 common shares subject to TSX Venture Exchange approval. Additionally, Canada Nickel will issue 44,103 common shares at $2.60 each, totaling $115,448, to a service provider for obligations due. This strategic move aims to strengthen its nickel-sulphide projects catering to the electric vehicle market.
Canada Nickel Company (CNIKF) announced exciting assay results from its Crawford Nickel Sulphide Project, achieving the highest grade interval to date with 64.5 metres of 0.71% nickel. The East Zone mineralization increased by 33% to 2.8 kilometres, with drilling extending to 1 kilometre depth. The PGM Zone also demonstrated potential with grades up to 1.4 g/t. Additionally, the company issued 1,040,000 stock options and 925,362 restricted share units, enhancing its incentive plans. Over 200 drill holes have been completed to support a resource increase expected mid-year.
Canada Nickel Company has reported significant advancements in the Crawford Nickel Sulphide Project, confirming a nickel recovery rate of 63% from a low-grade feed. This recovery is accompanied by an impressive nickel sulphide concentrate grade of 46%, the highest noted in a locked cycle test so far. Each percent improvement in nickel recovery corresponds to a potential US$92 million increase in project value. Additionally, the company has expanded its land holdings in the Timmins district and is nearing completion of a strategic investor process.
Canada Nickel Company (TSXV: CNC) announced promising drill assay results from its recent exploration activities at Mahaffy, Dargavel, Kingsmill, and MacDiarmid properties. Notably, the Dargavel hole DAR21-01 presented an impressive 162 metres of 0.30% nickel, including a higher grade of 0.34% nickel over 28.5 metres. The company's Crawford feasibility study is expected to be finalized by Q4 2022, with the permitting process commencing in Q1 2022. Management appointments have strengthened the engineering and environmental teams, positioning the company for further success.
Canada Nickel Company announced the closing of a $10 million secured loan with Auramet International, with proceeds aimed at funding the Crawford Nickel Sulphide Project.
The loan, due by April 5, 2022, carries a 1% monthly interest rate and includes an arrangement fee of 2%. Additionally, the company issued 325,000 warrants at a strike price of $3.94. This financial support positions Canada Nickel to advance its project while it concludes a strategic investor process in the first quarter of 2022.
Canada Nickel Company announced a US$10 million secured loan facility with Auramet to support the ongoing Crawford Nickel Sulphide Project. The loan, due April 5, 2022, carries a 1% monthly interest and an arrangement fee of 2% of the loan amount. The company is in discussions with strategic investors to enhance funding opportunities and expects to conclude these discussions early next year. Canada Nickel has made progress with drilling results and a Preliminary Economic Assessment, positioning itself well in the nickel market.
Canada Nickel Company (OTCQX: CNIKF) announced improved metallurgical test results from its Crawford Nickel Sulphide Project. Notably, they achieved a 61% nickel recovery rate from a 0.22% nickel sample, surpassing the model outlined in the Preliminary Economic Assessment (PEA) by 19 percentage points. Additionally, iron recovery reached 63%, which is 15 percentage points higher than the PEA model. The company plans further testing to evaluate metallurgical performance across different samples, aiming for more efficiency and enhanced project valuation.
Canada Nickel Company (TSXV: CNC, OTCQX: CNIKF) will present at the Scotiabank Mining Conference on November 30, 2021, at 8:00 a.m. ET. CEO Mark Selby will also participate in one-on-one meetings on November 30 and December 1, 2021. The company is focused on developing next-generation nickel-cobalt sulphide projects to meet the growing demand for electric vehicles and stainless steel. Canada Nickel's flagship project is the Crawford Nickel-Cobalt Sulphide Project located in Timmins-Cochrane mining camp.
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