Premium Nickel's Selkirk Deposit Provides Strong Historic Drill Core Results Including 186.25 Metres of 1.65% CuEq or 0.96% NiEq
Premium Nickel Resources (PNRL) has announced significant assay results from re-sampling historic drill core at its Selkirk nickel-copper-cobalt-PGE mine in Botswana. Notable findings include intersections of up to 186.25 metres of 1.65% CuEq and 35.84 metres of 4.04% CuEq. The company analyzed seventeen historic drill holes to obtain additional PGE data required for an upcoming NI 43-101 Mineral Resource Estimate. The Selkirk property comprises a 14.6 km² mining license and four prospecting licenses covering 126.7 km². The sampled holes span approximately 690 metres Northwest/Southeast and 210 metres Northeast/Southwest.
Premium Nickel Resources (PNRL) ha annunciato risultati di analisi significativi derivanti dal ricampionamento di campioni storici di perforazione presso la sua mina di nickel-rame-cobalto-PGE Selkirk in Botswana. I risultati notevoli includono intersezioni di fino a 186,25 metri con 1,65% CuEq e 35,84 metri con 4,04% CuEq. L'azienda ha analizzato diciassette fori di perforazione storici per ottenere ulteriori dati PGE necessari per un prossimo Stima delle Risorse Minerali secondo lo standard NI 43-101. La proprietà Selkirk comprende una licenza mineraria di 14,6 km² e quattro licenze di esplorazione che coprono 126,7 km². I fori campionati si estendono per circa 690 metri da Nord-ovest/Sud-est e 210 metri da Nord-est/Sud-ovest.
Premium Nickel Resources (PNRL) ha anunciado resultados significativos de análisis de re-muestreo de núcleos de perforación históricos en su mina de níquel-cobre-cobalto-PGE Selkirk en Botswana. Los hallazgos notables incluyen intersecciones de hasta 186,25 metros de 1,65% CuEq y 35,84 metros de 4,04% CuEq. La empresa analizó diecisiete pozos de perforación históricos para obtener datos adicionales de PGE necesarios para una próxima Estimación de Recursos Minerales NI 43-101. La propiedad Selkirk comprende una licencia minera de 14,6 km² y cuatro licencias de exploración que cubren 126,7 km². Los pozos muestreados se extienden aproximadamente 690 metros de Noroeste/Sureste y 210 metros de Noreste/Suroeste.
프리미엄 니켈 리소스(PNRL)는 보츠와나에 있는 셀커크 니켈-구리-코발트-PGE 광산의 역사적인 드릴 코어 재샘플링에서 중요한 분석 결과를 발표했습니다. 주목할 만한 발견에는 186.25미터에서 1.65% CuEq와 35.84미터에서 4.04% CuEq의 교차점이 포함됩니다. 회사는 다가오는 NI 43-101 광물 자원 추정을 위해 추가 PGE 데이터를 얻기 위해 17개의 역사적인 드릴 홀을 분석했습니다. 셀커크 지역은 14.6 km²의 채굴 라이센스와 126.7 km²를 포괄하는 네 개의 탐사 라이센스를 포함합니다. 샘플링된 구멍은 북서쪽/남동쪽 방향으로 약 690미터, 북동쪽/남서쪽 방향으로 210미터에 걸쳐 있습니다.
Premium Nickel Resources (PNRL) a annoncé des résultats d'analyse significatifs provenant de la reprise d'échantillons de carottes de forage historiques dans sa mine de nickel-cuivre-cobalt-PGE de Selkirk au Botswana. Les résultats notables incluent des intersections de jusqu'à 186,25 mètres de 1,65% CuEq et 35,84 mètres de 4,04% CuEq. La société a analysé dix-sept sondages historiques pour obtenir des données PGE supplémentaires nécessaires à une prochaine estimation des ressources minérales NI 43-101. La propriété Selkirk comprend un permis de mine de 14,6 km² et quatre permis de prospection couvrant 126,7 km². Les trous échantillonnés s'étendent sur environ 690 mètres au Nord-Ouest/Sud-Est et 210 mètres au Nord-Est/Sud-Ouest.
Premium Nickel Resources (PNRL) hat bedeutende Analyseergebnisse aus der Wiederprobenahme historischer Bohrkerne in seiner Selkirk Nickel-Kupfer-Kobalt-PGE-Mine in Botswana bekannt gegeben. Zu den auffälligen Funden gehören Schnittstellen von bis zu 186,25 Metern mit 1,65% CuEq und 35,84 Metern mit 4,04% CuEq. Das Unternehmen hat siebzehn historische Bohrlöcher analysiert, um zusätzliche PGE-Daten für eine bevorstehende NI 43-101 Mineralreservenbewertung zu erhalten. Das Selkirk-Gelände umfasst eine Bergbaugenehmigung von 14,6 km² und vier Erkundungslizenzen, die 126,7 km² abdecken. Die beprobten Löcher erstrecken sich über etwa 690 Meter Nordwest/Südost und 210 Meter Nordost/Südwest.
- Strong drill results with significant mineralization lengths and grades
- Upcoming NI 43-101 compliant Mineral Resource Estimate
- Large mineralized zone remains open down plunge
- Property includes substantial mining and prospecting licenses
- None.
Toronto, Ontario--(Newsfile Corp. - October 28, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) ("PNRL" or the "Company") provides exceptional assay results from the re-sampling of historic drill core and an update on the Mineral Resource Estimate ("MRE") for the Selkirk deposit at its nickel-copper-cobalt-platinum group elements ("Ni-Cu-Co-PGE") sulphide Selkirk mine ("Selkirk Mine") in Botswana.
The Selkirk Mine is the Company's second asset in Botswana, located 28 kilometres south-east of the town of Francistown and approximately 75 kilometres north of the Company's flagship Selebi Mines. The Company assayed samples from a total of seventeen historic drill holes extracted by the former operator, Tati Nickel Mining Company ("TNMC"), to obtain additional PGE analyses required for the MRE on the Selkirk deposit. PNRL has engaged SLR Consulting Ltd. to complete an MRE in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), which is expected imminently. Results for all Selkirk holes are reported herein.
Assay highlights include:
- DSLK012: 139.00 metres of
1.55% CuEq or0.90% NiEq
(0.47% Cu,0.38% Ni,0.02% Co, 0.08ppm Au, 0.16ppm Pt and 0.68ppm Pd)
- DSLK037: 88.85 metres of
1.09% CuEq or0.63% NiEq
(0.29% Cu,0.27% Ni,0.01% Co, 0.05ppm Au, 0.14ppm Pt and 0.61ppm Pd)
- DSLK039: 108.01 metres of
0.93% CuEq or0.54% NiEq
(0.29% Cu,0.21% Ni,0.01% Co, 0.05ppm Au, 0.11ppm Pt and 0.44ppm Pd)
- DSLK047: 157.00 metres of
1.21% CuEq or0.70% NiEq
(0.35% Cu,0.29% Ni,0.02% Co, 0.09ppm Au, 0.12ppm Pt and 0.54ppm Pd)
- DSLK079: 114.00 metres of
1.36% CuEq or0.79% NiEq
(0.41% Cu,0.35% Ni,0.02% Co, 0.05ppm Au, 0.14ppm Pt and 0.59ppm Pd)
including: 65.00 metres of1.64% CuEq or0.96% NiEq
(0.50% Cu,0.43% Ni,0.02% Co, 0.05ppm Au, 0.17ppm Pt and 0.70ppm Pd)
- DSLK086: 168.00 metres of
1.19% CuEq or0.69% NiEq
(0.30% Cu,0.32% Ni,0.02% Co, 0.05ppm Au, 0.13ppm Pt and 0.56ppm Pd)
- DSLK145: 136.50 metres of
1.06% CuEq or0.62% NiEq
(0.28% Cu,0.27% Ni,0.01% Co, 0.05ppm Au, 0.13ppm Pt and 0.55ppm Pd)
- DSLK216: 210.20 metres of
1.25% CuEq or0.73% NiEq
(0.36% Cu,0.32% Ni,0.02% Co, 0.06ppm Au, 0.14ppm Pt and 0.57ppm Pd)
- DSLK232: 35.84 metres of
4.04% CuEq or2.35% NiEq
(0.98% Cu,1.20% Ni,0.06% Co, 0.12ppm Au, 0.33ppm Pt and 1.74ppm Pd)
- DSLK243: 186.25 metres of
1.65% CuEq or0.96% NiEq
(0.48% Cu,0.41% Ni,0.02% Co, 0.08ppm Au, 0.17ppm Pt and 0.76ppm Pd)
Keith Morrison, CEO of PNRL, commented: "These assay results are very good. Importantly, they are the first step in enabling PNRL to include the historical drilling and assay database from over approximately 292 legacy drill holes and 87,152 metres, using all payable commodities (Cu-Ni-Co-Pt-Pd-Au), in calculating an initial NI 43-101 MRE. The disseminated mineralized zone within the Selkirk host intrusive is large and open down plunge. The initial size of the MRE at Selkirk will be determined by the cut-off grade assumptions. Ideally these cut-off grade assumptions can be improved through future engineering and metallurgical studies optimizing the overall efficiency of the mine."
The Selkirk property consists of a single mining licence covering an area of approximately 14.6 square kilometres and four prospecting licences covering an area of approximately 126.7 square kilometres.
Mineral resource estimates completed by previous operators were based on incomplete analysis of PGEs in the historic drill core. The Company initiated this re-sampling program to ensure PGEs are included in the upcoming MRE. PNRL selected drillholes from various historic years of drilling and assaying campaigns and were spaced out as a reference for a possible bulk tonnage operation. The seventeen holes sampled cover a range of approximately 690 metres in a Northwest/Southeast direction and 210 metres in a Northeast/Southwest direction.
Assay results are provided below in Table 1 for 17 holes that were re-sampled; hole collar details are provided in Table 2. Figure 1 shows the location of the re-sampled holes relative to all drill holes and the underground mine development.
Table 1: Assay Results Selkirk Deposit
| HOLE ID | FROM (m) | TO (m) | 1LENGTH (m) | Cu (%) | NI (%) | Co (%) | Au (ppm) | Pt (ppm) | Pd (ppm) | 2CuEq (%) | 3NiEq (%) |
| DSLK012 | 71.00 | 211.00 | 139.00 | 0.47 | 0.38 | 0.02 | 0.08 | 0.16 | 0.68 | 1.55 | 0.90 |
| DSLK028 | 37.00 | 110.00 | 68.70 | 0.32 | 0.26 | 0.01 | 0.06 | 0.13 | 0.61 | 1.11 | 0.64 |
| DSLK035 | 61.00 | 92.85 | 31.85 | 0.29 | 0.27 | 0.01 | 0.05 | 0.13 | 0.62 | 1.10 | 0.64 |
| DSLK035 | 110.00 | 189.00 | 79.00 | 0.24 | 0.22 | 0.01 | 0.05 | 0.11 | 0.49 | 0.90 | 0.52 |
| DSLK037 | 31.15 | 120.00 | 88.85 | 0.29 | 0.27 | 0.01 | 0.05 | 0.14 | 0.61 | 1.09 | 0.63 |
| DSLK039 | 120.00 | 238.00 | 108.01 | 0.29 | 0.21 | 0.01 | 0.05 | 0.11 | 0.44 | 0.93 | 0.54 |
| DSLK040 | 81.00 | 169.00 | 88.00 | 0.37 | 0.30 | 0.02 | 0.05 | 0.12 | 0.53 | 1.23 | 0.71 |
| DSLK040 | 186.60 | 200.00 | 13.40 | 0.51 | 0.27 | 0.02 | 0.05 | 0.12 | 0.53 | 1.30 | 0.76 |
| DSLK047 | 107.00 | 264.00 | 157.00 | 0.35 | 0.29 | 0.02 | 0.09 | 0.12 | 0.54 | 1.21 | 0.70 |
| DSLK075 | 50.00 | 73.00 | 23.00 | 0.24 | 0.24 | 0.01 | 0.04 | 0.10 | 0.50 | 0.94 | 0.55 |
| DSLK075 | 89.00 | 101.00 | 12.00 | 0.27 | 0.26 | 0.01 | 0.05 | 0.13 | 0.60 | 1.06 | 0.62 |
| DSLK075 | 115.00 | 214.00 | 99.00 | 0.32 | 0.27 | 0.01 | 0.06 | 0.13 | 0.63 | 1.15 | 0.67 |
| DSLK079 | 100.00 | 214.00 | 114.00 | 0.41 | 0.35 | 0.02 | 0.05 | 0.14 | 0.59 | 1.36 | 0.79 |
| incl. | 123.00 | 188.00 | 65.00 | 0.50 | 0.43 | 0.02 | 0.05 | 0.17 | 0.70 | 1.64 | 0.96 |
| DSLK086 | 56.00 | 76.00 | 20.00 | 0.19 | 0.20 | 0.01 | 0.04 | 0.10 | 0.39 | 0.77 | 0.45 |
| DSLK086 | 106.00 | 274.00 | 168.00 | 0.30 | 0.32 | 0.02 | 0.05 | 0.13 | 0.56 | 1.19 | 0.69 |
| DSLK139 | 277.00 | 333.00 | 56.00 | 0.33 | 0.28 | 0.02 | 0.06 | 0.13 | 0.55 | 1.15 | 0.67 |
| incl. | 277.00 | 297.00 | 20.00 | 0.39 | 0.35 | 0.02 | 0.06 | 0.15 | 0.64 | 1.38 | 0.80 |
| DSLK145 | 90.00 | 128.00 | 38.00 | 0.13 | 0.16 | 0.01 | 0.03 | 0.09 | 0.40 | 0.64 | 0.37 |
| DSLK145 | 140.00 | 202.00 | 25.80 | 0.06 | 0.08 | 0.01 | 0.01 | 0.04 | 0.14 | 0.28 | 0.16 |
| DSLK145 | 213.00 | 349.50 | 136.50 | 0.28 | 0.27 | 0.01 | 0.05 | 0.13 | 0.55 | 1.06 | 0.62 |
| incl. | 249.00 | 349.50 | 100.50 | 0.31 | 0.28 | 0.01 | 0.05 | 0.14 | 0.60 | 1.14 | 0.66 |
| DSLK216 | 61.00 | 273.00 | 210.20 | 0.36 | 0.32 | 0.02 | 0.06 | 0.14 | 0.57 | 1.25 | 0.73 |
| incl. | 61.00 | 97.00 | 36.00 | 0.24 | 0.27 | 0.02 | 0.05 | 0.11 | 0.44 | 0.99 | 0.58 |
| and | 117.00 | 273.00 | 154.45 | 0.41 | 0.35 | 0.02 | 0.06 | 0.15 | 0.64 | 1.39 | 0.81 |
| DSLK218 | 14.00 | 46.00 | 32.00 | 0.26 | 0.18 | 0.02 | 0.04 | 0.11 | 0.33 | 0.80 | 0.46 |
| DSLK219 | 21.00 | 36.60 | 15.60 | 0.29 | 0.23 | 0.01 | 0.05 | 0.11 | 0.43 | 0.95 | 0.55 |
| DSLK219 | 41.00 | 63.80 | 22.80 | 0.33 | 0.24 | 0.02 | 0.06 | 0.11 | 0.45 | 1.03 | 0.60 |
| DSLK219 | 78.90 | 99.00 | 20.10 | 0.59 | 0.34 | 0.02 | 0.09 | 0.13 | 0.61 | 1.57 | 0.91 |
| DSLK219 | 111.00 | 130.00 | 19.00 | 0.27 | 0.18 | 0.01 | 0.04 | 0.08 | 0.48 | 0.84 | 0.49 |
| DSLK219 | 181.00 | 191.00 | 10.00 | 0.26 | 0.18 | 0.01 | 0.04 | 0.08 | 0.29 | 0.77 | 0.45 |
| DSLK232 | 35.00 | 70.84 | 35.84 | 0.98 | 1.20 | 0.06 | 0.12 | 0.33 | 1.74 | 4.04 | 2.35 |
| incl. | 47.3 | 64.00 | 16.70 | 1.56 | 1.73 | 0.1 | 0.09 | 0.37 | 2.14 | 5.78 | 3.36 |
| DSLK243 | 120.00 | 306.25 | 186.25 | 0.48 | 0.41 | 0.02 | 0.08 | 0.17 | 0.76 | 1.65 | 0.96 |
1Length refers to drillhole length.
2 CuEq was calculated using the formula CuEq=Cu+1.72*Ni+2.57*Co+0.928Au+0.35*Pt+0.36*Pd assuming October 23, 2024 prices of US
3 NiEq was calculated using the formula NiEq=Ni+0.58*CuEq
Table 2: Drill Collar Information Selkirk Deposit
| HOLE ID | 1Easting | 1Northing | 1Elevation | Dip | Azimuth | Hole Length (m) |
| DSLK012 | 575449.5 | 7642670.7 | 996.9 | -70.00 | 30.0 | 368.2 |
| DSLK028 | 575592.3 | 7642713.7 | 992.5 | -70.00 | 35.0 | 188.0 |
| DSLK035 | 575507.0 | 7642676.2 | 993.1 | -90.00 | 335.0 | 256.6 |
| DSLK037 | 575555.9 | 7642642.1 | 989.7 | -70.00 | 35.0 | 150.0 |
| DSLK039 | 575372.3 | 7642697.2 | 1001.4 | -72.00 | 40.0 | 341.1 |
| DSLK040 | 575408.9 | 7642745.1 | 998.5 | -69.00 | 38.0 | 315.7 |
| DSLK047 | 575340.1 | 7642646.4 | 996.4 | -70.00 | 42.0 | 376.8 |
| DSLK075 | 575367.3 | 7642480.9 | 986.7 | -72.00 | 28.5 | 362.4 |
| DSLK079 | 575319.9 | 7642514.8 | 988.0 | -70.00 | 35.0 | 385.1 |
| DSLK086 | 575285.3 | 7642465.2 | 984.1 | -70.00 | 35.0 | 452.0 |
| DSLK139 | 575148.8 | 7642268.3 | 982.7 | -69.60 | 40.2 | 490.3 |
| DSLK145 | 575197.4 | 7642233.7 | 982.7 | -68.58 | 39.3 | 375.3 |
| DSLK216 | 575410.3 | 7642670.8 | 999.1 | -87.94 | 209.7 | 369.5 |
| DSLK218 | 575376.4 | 7642794.8 | 990.7 | -86.97 | 97.0 | 241.4 |
| DSLK219 | 575470.5 | 7642852.1 | 991.7 | -87.99 | 359.4 | 67.3 |
| DSLK232 | 575563.29 | 7642894.07 | 1001.8 | -90 | 360 | 70.8 |
| DSLK243 | 575325.0 | 7642547.6 | 988.5 | -88.96 | 291.7 | 300.1 |
1Coordinates are WGS84z35S with geoidal elevations
Work Continues
The Company has proposed a work plan at the Selkirk Mine and its surrounding prospecting licences that includes a drill program to better define the existing resources and to explore for additional resources. Additional metallurgical studies are also planned, using fresh drill core samples obtained from future drilling.
Quality Control
Drill core samples are NQ (47.75 mm diameter). All samples are ½ core previously cut by a diamond saw on site. Samples are generally 1.0 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a "qualified person" for the purposes of National Instrument 43-101.
Technical Report
In 2023, the Company filed a technical report in respect of the Selkirk Mine titled "NI 43-101 Technical Report, Selkirk Nickel Project, Northeast District, Republic of Botswana" dated April 12, 2023 (with an effective date of March 31, 2023) (the "Selkirk Technical Report"), a copy of which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.
About Premium Nickel Resources Ltd.
PNRL is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic of Botswana.
PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our skilled team has worked over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the Company's Selebi and Selkirk mines. PNRL's senior team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Morrison
Director and Chief Executive Officer
Premium Nickel Resources Ltd.
For further information about Premium Nickel Resources Ltd., please contact:
Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to Mineral Resource Estimates in Botswana; the support for the redevelopment of the Selkirk Mine from the National Government and local stakeholders; mining at Selkirk; the ability to upgrade the inferred mineral resources on Selkirk; the publication by the Company of an initial Mineral Resource Estimate or future PFS; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selkirk Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management's belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the initial Mineral Resource Estimate technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine and Selkirk Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; the productivity rates for mining at Selkirk; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a Mineral Resource Estimate and/or to support further economic studies; the ability and timing of advancing the mining programs at the Selebi Mine and the Selkirk Mine as contemplated (if at all); the ability to expand the resource potential at the Selkirk Mine; the results of the mining program on Selkirk and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company's approach to exploration; management's belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company's approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Figure 1: Selkirk location of the re-sampled holes relative to all drill holes and the underground mine development.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227999
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