Canada Nickel Now Owns 80% of Highly Prospective Mann Nickel Property

Highlights

  • Canada now owns an 80% interest in the Mann Property (~11,000 hectares)
  • Includes Mann Northwest, Central and Southeast properties that cover a combined 25 km strike length of nickel-bearing ultramafic rocks
  • Mann has a target footprint of 6.0 km² vs 1.6km² for Crawford project, which is already a world class nickel deposit.
  • 2023 drilling has already confirmed similar grades to Crawford.

Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) announced that it is exercising its option to acquire an 80% interest in the Mann Nickel Property from Noble Mineral Exploration Inc. (“Noble”) as Canada Nickel consolidates its interests in bulk tonnage nickel projects east of Timmins, Ontario.

Mann Northwest Target Map with Completed Drill Holes

Source: Canada Nickel

The option terms include:

(i) Exploration expenditures of $1.7 million on the Property (completed),
(ii) Cash payment to Noble of $350,000 (completed),
(iii) Annual cash payments to Noble of $100,000 (current),
(iv) Underlying NSR rights to previous claim owners and to Noble (to be registered).

Mark Selby, CEO of Canada Nickel, commenting on the exercise of the option said, “We are pleased to complete the option agreement with Noble after our successful drill program in 2023 where all 15 holes intersected target mineralization. We are looking forward to further unlocking the potential of these three targets in 2024.”

The option agreement was previously announced on November 22, 2021.
Statement Regarding TSX Venture Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.2

The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval. The common shares issued pursuant to the above noted acquisitions will be subject to a four month hold period under applicable Canadian securities laws. Some transactions may have been approved prior to this release.

Canada Nickel is a market awareness client of Capital 10X.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Duane Hope is a Partner at Capital 10X, he brings over 15 years of communications and research experience to the firm. His research and writing have appeared in publications for North American, European and Asian audiences.

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