Canada Nickel Company Announces Filing of NI 43-101 Technical Report for Previously Announced Crawford Project Updated Resource
Canada Nickel Company Announces Filing of
NI 43-101 Technical Report for Previously
Announced Crawford Project Updated
Resource
TORONTO
,
Dec. 4, 2020
/CNW/ - Canada Nickel Company Inc. ("
Canada Nickel
" or the
"
Company
") (TSX-V:CNC) (OTCQB: CNIKF) today announced that the Company has filed on
SEDAR an independent technical report (the "Report") prepared in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the
mineral resource estimate for its 100% owned Crawford Nickel-Cobalt Sulphide Project ("Crawford")
near
Timmins, Ontario
, which was reported in the Company's news release dated
October 21,
2020
. The Mineral Resource Estimate, effective as of
October 18, 2020
, was prepared following the
CIM Definition Standards for Mineral Resources and Reserves (
November 29, 2019
).
The full technical report dated
December 4, 2020
, with an effective date of
November 1, 2020
is
entitled "Independent Technical Report and Mineral Resource Estimates Crawford Nickel-Cobalt
Sulphide Project: Main Zone (Update) and East Zone (Maiden) Deposits". The report was prepared
for Canada Nickel by Caracle Creek International Consulting Inc. and can be found under the
Company's issuer profile at
www.sedar.com
.
The Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific
Timmins
-
Cochrane
mining camp in
Ontario, Canada
, and is adjacent to well-established, major infrastructure associated
with over 100 years of regional mining activity. Canada Nickel has launched wholly-owned NetZero
Metals Inc. with the aim to develop zero-carbon production of nickel, cobalt, and iron at the
Crawford Project.
Issuance of Options and RSUs to new members of Canada Nickel Management Team
The Company also announced today that it has granted options to acquire common shares of the
Company ("Options") and restricted share units ("RSUs") to each of
Pierre-Philippe Dupont
(recently
appointed Vice President Sustainability of the Company) and
Wendy Kaufman
(recently appointed
Chief Financial Officer of the Corporation). Each of Mr. Dupont and Ms. Kaufman was granted
180,000 Options exercisable at
$1.62
per common share (the applicable price per common share
when such grants were approved) and 115,000 RSUs. These Options and RSUs are subject to
shareholder approval as required by the TSX Venture Exchange and the terms and conditions of the
Company's option plan and restricted share unit plan, respectively.
Issuance of Shares
The Company also announced today that it will be issuing 42,781 common shares to an arm's length
party in satisfaction of its obligation to pay
$80,000
in fees. The shares will be subject to a four-
month hold period under applicable securities laws.
Assays, Quality Assurance/Quality Control and Drilling and Assay Procedures
William E. MacRae
, MSc, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the
on-going drilling and sampling program, including quality assurance (QA) and quality control (QC).
The core is collected from the drill in sealed core trays and transported to the core logging facility.
The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. Samples
are bagged with QA/QC samples inserted in batches of 35 samples per lot. Samples are
transported in secure bags directly from the Canada Nickel core shack to Actlabs Timmins, an
ISO/IEC 17025 accredited lab. Analysis for precious metals (gold, platinum and palladium) are
completed by Fire Assay while analysis for nickel, cobalt, sulphur and 17 other elements are
performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are
inserted at a rate of one QA/QC sample per 32 core samples making a batch of 35 samples that
are submitted for analysis.
Qualified Person and Data Verification
Dr.
Scott Jobin-Bevans
(P.Geo., APGO #0183), independent of the Company and a Qualified
Person as defined by NI 43-101, has reviewed and approved the scientific and technical content of
this news release. The independent Qualified Person for the Mineral Resource Estimate, as defined
by NI 43-101, is Mr.
Luis Oviedo
(P.Geo., Chilean Mining Commission: RM, CMC #013), of Caracle
Creek International Consulting Inc. and Atticus Chile S.A. The Quality Control-Quality Assurance
review was conducted by independent engineer Mr.
John Siriunas
(P.Eng., APEO #42706010), a
Qualified Person as defined by NI 43-101.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to
deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets.
Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero
Nickel
TM
, NetZero Cobalt
TM
, NetZero Iron
TM
and is pursuing the development of processes to allow
the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors
with leverage to nickel and cobalt in low political risk jurisdictions. Canada Nickel is currently
anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the
prolific
Timmins
-
Cochrane
mining camp.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. Forward looking information includes, but is not
limited to, mineral resource estimates relating to the Crawford Nickel-Cobalt Sulphide Project, the
potential of the Crawford Nickel-Cobalt Sulphide Project, strategic plans, including future exploration
and development results, and corporate and technical objectives. Forward-looking information is
necessarily based upon a number of assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties, and other factors which may cause the actual results and
future events to differ materially from those expressed or implied by such forward-looking
information. Factors that could affect the outcome include, among others: future prices and the
supply of metals, the future demand for metals, the results of drilling, inability to raise the money
necessary to incur the expenditures required to retain and advance the property, environmental
liabilities (known and unknown), general business, economic, competitive, political and social
uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining
governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no
assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. All forward-looking information contained in this press
release is given as of the date hereof and is based upon the opinions and estimates of management
and information available to management as at the date hereof. Canada Nickel disclaims any
intention or obligation to update or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by law.
SOURCE
Canada Nickel Company Inc.
View original content:
http://www.newswire.ca/en/releases/archive/December2020/04/c9516.html
%SEDAR: 00048733E
For further information:
Mark Selby, Chair and CEO, Phone: 647-256-1954, Email:
CO: Canada Nickel Company Inc.
CNW 22:40e 04-DEC-20