Nickel North Retains Consultants to Update Mineral Resource Estimate and NI 43-101 Technical Report on Hawk Ridge Nickel- Copper-PGE-Cobalt Project in Quebec
Nickel North Retains Consultants to Update
Mineral Resource Estimate and NI 43-101
Technical Report on Hawk Ridge Nickel-
Copper-PGE-Cobalt Project in Quebec
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2022) - Nickel North Exploration Corp.
(TSXV: NNX) (the "Company" or "Nickel North") is pleased to announce that the Company has retained
the services of consultants P&E Mining Consultants Inc ("P&E") based in Toronto (
www.peconsulting.ca
) to update the Mineral Resource Estimate and prepare an NI43-101 Technical
Report on its 100% owned flagship Hawk Ridge Nickel-Copper-PGE-Cobalt project at Ungava Bay,
Northern Quebec.
P&E has prepared an initial NI 43-101 Mineral Resource Estimate for three deposits (Hopes Advance,
Gamma and Falco 7) on the Hawk Ridge project in March 12, 2014. The Pit Constrained Inferred
Mineral Resources at a US$25/tonne net smelter return ("NSR") cut-off were estimated at 19,636,000
tonnes at average grades of 0.58% Cu, 0.22% Ni, 0.01% Co, 0.05 g/t Pt, 0.21 g/t Pd and 0.11 g/t Au.
Metal prices for the 2014 estimate were US$3.67/lb Cu, US$8.51/lb Ni, US$1,596/oz Pt, US$702/oz Pd,
US$1,554/oz Au and US$15/lb Co based on a three-year trailing average as of November 30, 2013.
Since this initial Mineral Resource Estimate in 2014, all major metal prices, especially Nickel, Palladium
and Cobalt, have increased by 100-300%. For example, average Nickel prices in 2014 was $7.63/lb Ni
($16,893/tonne USD), $810/oz Pd Palladium, and $6.81/lb Co Cobalt ($15,000/tonne USD).
Comparatively, the prices of Nickel, Palladium and Cobalt on May 3, 2022 on LME were up to
US$14.71/lb Ni, US$2,250/oz Pd and US$36.97/lb Co.
Nickel North has intercepted a 7.01m high-grade massive nickel sulfide mineralized zone grading 2.11%
Ni, 2.73% Cu and 0.62 g/t PGE from Hole RH-2014-50 at the Gamma Zone. This hole was drilled after
the initial Mineral Resource Estimate in 2014 and now will be integrated into the updated Mineral
Resource Estimate.
P&E will re-estimate the NSR cut-off based on consensus economics forecast metal prices, metal
recoveries and a US exchange rate at 0.78 to update the Mineral Resource Estimate. The updated
NI43-101 Technical Report will be prepared and used as the basis for future drilling program planning
and project financing.
Qualified Person
The technical information in this news release has been reviewed and approved by Tony Guo, P.Geo.,
Nickel North Exploration Corp's President and CEO, who is a Qualified Person as defined by National
Instrument 43-101.
About Nickel North Exploration
Nickel North Exploration is a Canada-based exploration company focused on defining a Cu-Ni-Co-PGE
mineral resource at its Hawk Ridge Project in Northern Québec. The board of directors, advisor
committee and management team are experienced, successful mine finders. The Property consists of a
50 km long belt of strong magmatic Ni-Cu-Co-PGE occurrences covering 173 km
2
. The project is
located near tidewater. Québec is a mining friendly jurisdiction. Nickel North Exploration as a
conscientious corporate citizen maintains good relations with local Inuit communities and is committed
to sustainable development. For more information on the company, please visit
www.nnexploration.com
.
Nickel North Exploration Corp. has been identified as a key player in the Critical and Strategic Minerals
value chain by Québec's Ministry of Economics and Innovation (MEI) in 2021 (
Québec Plan for the
Development of Critical and Strategic Minerals 2020-2025 (quebec.ca)
, which is part of Québec's Plan
for the Development of Critical and Strategic Metals (QPDCSM) and aims to stimulate the exploration
and mining of SCMs, their transformation, and recycling.
NICKEL NORTH EXPLORATION
Per:
"Tony Guo"
Tony Guo
Nickel North Exploration Inc.
Tony Guo. P. Geo, Chief Executive Officer (Tel: +1-778-877-5480)
E-mail:
North America IR / PR
Jemini Capital
Jorge Galindo
Tel: +1
(647) 725-3888
x703
For further information please visit
http://www.nnexploration.com
This news release may contain forward-looking information, which is not comprised of historical facts.
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
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actual results to differ materially from such forward-looking information include, but are not limited to,
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that the assumptions and factors used in preparing the forward-looking information in this news release
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