Nickel Creek Platinum Announces 2022 Field Program at Nickel Shäw

Rhea-AI Summary

Nickel Creek Platinum Corp. has officially begun the drilling phase of its 2022 field program at the 100%-owned Nickel Shäw Project in Yukon, Canada as of July 1, 2022. Following a successful C$2.7 million private placement, the company has secured funding for exploration, including Prefeasibility Study (PFS) drilling at the Wellgreen deposit to upgrade mineral resource classifications. The program will also drill at the Arch exploration target to assess mineralization extent. Nickel Creek is supported by the Kluane First Nation in this endeavor.

Positive

• Secured C$2.7 million in funding through private placement to facilitate exploration.
• Commenced drilling at Nickel Shäw Project, enhancing resource classification potential.
• Collaboration with Kluane First Nation supports local partnerships.

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• None.

TORONTO, July 5, 2022 /PRNewswire/ - Nickel Creek Platinum Corp. (TSX: NCP) ("Nickel Creek" or the "Company") is pleased to announce that the Company formally commenced the drilling portion of its 2022 field program on July 1, 2022 at its 100%-owned Nickel Creek's Nickel Shäw Project in the Yukon, Canada.

Following successful completion of the recent C$2.7 million private placement, which included a Flow-Through Offering of C$2.4 million, the Company has secured the necessary funding required to perform an exploration program for the 2022 field season to collect data to facilitate completion of a Prefeasibility Study ("PFS"). This work will include PFS drilling on the Wellgreen deposit to support conversion of inferred mineral resources to indicated mineral resources and to collect additional geotechnical and hydrogeological data including the characterization of the proposed waste dump and tailings sites. Further drilling is also planned at the Arch exploration target to define the extent of mineralization.

Stuart Harshaw, President and CEO commented "We are looking forward to advancing the Nickel Shäw Project with our extensive program this summer.  The nickel market needs projects like ours to develop in order to supply the increasing demand for nickel and copper to produce electric vehicles."

As part of the 2022 field program, the Company will be supported by the Kluane First Nation, the Company's First Nations partner via its operating companies, Kluane Development LP and Kluane Energy LP. 

Scientific and Technical Information

The scientific and technical information disclosed in this news release was reviewed and approved by Cam Bell, an independent geologist on a consulting retainer contract with the Company and a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada, one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska.  The Company is also investigating other opportunities for shareholder value creation.

The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements relating to general future plans and objectives for the Company and the Nickel Shäw Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.

For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE Nickel Creek Platinum Corp.

FAQ

What is the significance of the drilling program at Nickel Creek Platinum’s Nickel Shäw Project?

The drilling program aims to advance exploration and data collection for a Prefeasibility Study, potentially improving resource classification.

What funding did Nickel Creek Platinum secure for its 2022 field program?

The company secured C$2.7 million, including C$2.4 million from a Flow-Through Offering.

When did Nickel Creek Platinum begin its field program?

Nickel Creek Platinum commenced its drilling program on July 1, 2022.

How does the Nickel Shäw Project support electric vehicle production?

The Nickel Shäw Project aims to supply nickel and copper, essential for producing electric vehicles, amid increasing market demand.

What are the future plans for the Nickel Shäw Project?

Nickel Creek Platinum plans further drilling at both the Wellgreen deposit and the Arch exploration target to define mineralization.