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Nevada Lithium Project Update
Highlights
- Site visit and key stakeholder meetings completed by senior management
- Experienced Nevada-based team has been established
- Updated mapping of key prospect areas has been completed, in addition to a review of all historical data, confirming high prospectivity for significant lithium mineralisation
- Maiden 1,000m drill programme has been planned and necessary work permits are being submitted and processed in the coming weeks
- Soil-sampling programme at Kanyaka and Hawker Rare Earth Element (REE) Prospects at the Arden Project in South Australia to commence next week
The Company’s senior management conducted a site visit in late June / early July which included field visits to further assess the geology of the key prospect areas, together with meeting key stakeholders involved with the NLP.
Subsequent to the site visit, the Company has established an experienced Nevada-based team, including geologists, land management and legal counsel, to drive the Project forward.
The NLP comprises a large area that is considered highly prospective for large sedimentary-hosted lithium deposits across four prospect areas – Traction Prospect, San Antone Prospect, Heller Prospect and Lone Mountain Prospect. The Project is located close to the mining town of Tonopah in the mining-friendly counties of Nye and Esmeralda in the State of Nevada. The region is home to some very large sedimentary-hosted lithium deposits including Ioneer Resources’ (ASX:INR) Rhyolite Ridge Project and American Lithium Corporation’s (TSX.V: LI) (US OTC: LIACF) (Frankfurt: 5LA1) TLC Lithium Project (see Figure 2).
The in-country team has completed a thorough review of historic data as well as detailed mapping of the key prospect areas, confirming the high prospectivity for significant sedimentary-hosted lithium mineralisation (see Image 1).
An initial 1,000m reverse-circulation (RC) drill programme has been designed to selectively test stratigraphic targets within the Project area. Drill-holes have been planned in areas of mapped Siebert Formation, the same geological formation which hosts the large TLC Lithium Project nearby.
Permitting for the maiden drill programme has commenced and the approvals process is expected to be completed within four to six weeks. Local drilling contractors have also been approached and the Company is in the process of awarding the drilling contract.
Auroch Managing Director Aidan Platel commented:
“We are pleased with the progress we have made at our Nevada Lithium Project (NLP). Having an experienced local team is critical to the success of the Project, and since establishing our team they have been very busy reviewing all historic data and completing detailed field mapping of our key prospect areas, as we work towards a maiden drill programme.
After reviewing this work to-date and seeing the geology first-hand, we are very excited by the potential of the NLP to host significant lithium mineralisation, especially when looking at the success of our neighbours in the region, most notably American Lithium Corporation’s large TLC Lithium deposit which is very close to our project area.As such, we are working hard to progress through the permitting process towards commencing a maiden drill programme at the NLP.”
Click here for the full ASX Release
This article includes content from Auroch Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Horden Lake Drilling Completed
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide an update on its exploration program at its 100% owned Horden Lake project in Quebec, Canada.
Highlights
- 33 holes for 7,014 metres of diamond drilling completed at Horden Lake.
- Program targeted grade and tonnage opportunities within the 412 kt CuEq (27.8mt at 1.5% CuEq) Indicated and Inferred Resource1.
- Logging and assay in progress. First assay results are expected shortly, and will be released progressively during Q2 2024.
- Extensive 21 hole downhole EM geophysical survey in final stages of completion.
- Objective to show resource growth potential around the defined Resource, which was open along NE-SW strike and down-plunge directions.
“We are proud to be wrapping up our successful drilling and downhole geophysics program on schedule at Horden Lake – the first since Pivotal’s acquisition of the property. Our strategy to target grade and tonnage increases on the project is firmly intact, and we look forward to sharing the results shortly.
This work program sets us up for a busy 2024 as we work towards a resource update, metallurgical testwork, and follow up drilling to continue to grow the already significant mineral endowment. I would like to thank our in-country team and contracting partners for a safe and well executed program”
Horden Lake Drill Program
The Company has completed 33 diamond drill holes at Horden Lake, for a combined program of 7,014 metres (Figure 1).
Figure 1: Horden Lake drilling and geophysics collar plan
The program was designed to target improvements to both the quality and scale of the Horden Lake project and provide the foundation for advancing the asset from both a geological, and an engineering, perspective.
- Exploit the potential for increase in grade by collecting Au, Ag, Pt and Co by-product assay data for parts of the deposit that were not assayed for these metals in the past.
- Exploit the potential for increase in tonnage by drilling areas of limited density in or around the 27.8 mt Resource envelope. Downhole geophysics has been used to refine targets for further step-out drilling (see below).
- Collect significant sample for metallurgical testwork for flowsheet optimisation to support more detailed engineering studies.
Drill core is being progressively logged by the geological team in Val d’Or and sent for multielement assay with ALS Global. The first assays were sent on 19 February, and results are expected shortly.
Click here for the full ASX Release
This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Tartisan Nickel Corp. Retains Northwest Solutions Inc. to Complete the Kenbridge Nickel Project All-Season Access Road; Names Gregory Edwards as First Nations Liaison
Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA)("Tartisan'' or the "Company") announces that the Company has retained Northwest Solutions Inc. ("NWS Inc.") an organization based in Thunder Bay, Ontario, to provide technical and human resource support to the Company's flagship Kenbridge Nickel Project, located in the Kenora Mining District, northwestern Ontario. Northwest Solutions Inc. incorporates forestry, mining, and environmental services, as well as training, project management support, and communications consulting services. NWS Inc. has been operating in the Forestry and Natural Resource Sector since 2014 and is a family-owned and operated business. NWS Inc. will provide road design, permitting and project management support to the Kenbridge Nickel Project using leading technologies such as LiDAR, RoadEng and ArcGIS Pro.
Kevin Shorthouse, MScF, R.P.F. who is a co-owner and Director of Northwest Solutions Inc., will be the Road Design and Road Permitting Project Manager for Tartisan Nickel Corps' Kenbridge Nickel Project. Kevin will oversee the road design, permitting, and construction of the Kenbridge access road. Mark Appleby, CEO of Tartisan Nickel Corp., states, "Kevin's extensive background in Canada's Natural Resources Sector spans over a 20-year period and consists of a unique blend of field experience, project management and technological innovation. Kevin will partner alongside forestry and mining companies, Indigenous communities, and landowners to find cost-effective solutions to the all-season road using leading technology such as LiDAR, multispectral imagery, AI analytics and drones." Furthermore, Appleby states, "Kevin will be engaging with Indigenous and local community members as Northwest Solutions collaborates to integrate traditional spaces of spiritual and historical value, while also potentially providing FireSmart and natural resources technical training to local community members, contributing to capacity building and land management practices."
Additionally, joining the team is Brandi Shorthouse MA. Brandi is the Administration and Finance Manager, as well as co-owner, of Northwest Solutions Inc. Brandi will be the Kenbridge Road Project's Finance and Communications Manager. In this role, Brandi will closely monitor and administer the budget for the road build, including supplies, contractors, staffing and any government grants received. Mark Appleby, CEO of Tartisan Nickel Corp., states, "Brandi Shorthouse brings a wealth of experience and expertise to the field of financial project management. Brandi has demonstrated her ability to navigate complex financial landscapes through her decade of experience in business finance and administration. Brandi's upbringing in Northern Ontario, and her close relationship, both personally and professionally, with the Anishinaabe people has truly shaped her worldview. As a settler - who is an engaged ally - she recognizes the importance of reconciliation and commits to heart-centered business practices which prioritizes relational approaches. Brandi will support Tartisan Nickel Corp. in engaging with local Indigenous communities during the consultation process. Her role includes advocating for transparent communication while respecting cultural protocols and ensuring accountability and sound governance."
Further, Tartisan Nickel Corp. is pleased to announce that Gregory (Greg) Edwards, B.Sc., Geo. Eng., who presently serves as Project Manager for the Kenbridge Nickel Project, has been appointed as the Company's First Nations Liaison. Greg is a graduate of The Montana Tech School of Mines where he earned his degree in Geological Engineering and Mining Engineering. Greg Edwards is a seasoned professional in mining and exploration with over 18 years of experience in the mining sector; Greg has spent over 10 years contributing to small-and large-scale construction projects and has 8 years of hands-on experience as a business owner and operator in the private sector. With an educational background in engineering, geology, and exploration techniques, Greg possesses a wealth of knowledge in identifying prospective areas for mineral exploration. Throughout his career, Greg has led exploration teams whilst overseeing the planning and execution of drilling programs, interpreting data, and creating geological models.
In addition to his technical expertise, Greg is well-versed in the regulatory environmental aspects of the mining industry. Greg understands the importance of adhering to ethical and sustainable practices, ensuring that exploration and mining activities are conducted in a responsible manner which minimize environmental impact and respect Indigenous rights and cultural heritage. Greg also excels in building strategic partnerships and fostering positive relationships with stakeholders, local communities, Indigenous groups, government agencies and industry professionals to create mutually beneficial outcomes.
Mark Appleby, CEO of Tartisan Nickel Corp., articulates that, "As the First Nations Liaison for the Kenbridge Nickel Project, Greg recognizes the importance of building trust and establishing meaningful connections with First Nations communities. Greg, guided by a profound respect for Indigenous rights, traditional culture - as well as a transparent, relational process - is unwavering in his commitment to amplify the voices and address the concerns of First Nations communities throughout the mineral exploration process."
Greg will be working closely with Indigenous community leaders, elders, and councils to identify the needs, aspirations, as well as areas of concern, related to mining and exploration activities. Along with his role as a liaison, Greg will explore opportunities for economic development, capacity building, and job creation within First Nations communities, ensuring that the First Nations will benefit from exploration and mining activities in their traditional territories. By implementing effective environmental management practices, as well as incorporating traditional knowledge and indigenous perspectives into decision-making processes, Tartisan aims to develop a more comprehensive and culturally aware approach to resource extraction.
Mark Appleby, CEO of Tartisan, states, "2024 promises to be a milestone year as multiple on-going initiatives come together. Alignment with Indigenous communities, summation of baseline studies, project permitting endeavours, and all-season road access combined with continued efforts to expand the Kenbridge mine life are in focus and should prove to have a profound impact on shareholder value."
About Tartisan Nickel Corp.
Tartisan Nickel Corp., a Canadian-based company specializing in mineral exploration and development, holds the Kenbridge Nickel Project as its flagship asset. Situated in the Kenora Mining District of northwestern Ontario, this project represents a significant endeavor in the field of nickel exploration and extraction.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA). There are 121,969,004 shares issued and outstanding. There are 130,740,902 outstanding on a fully diluted basis.
For further information, please contact Mark Appleby, President & CEO - and a Director of the Company at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Ramp Metals Inc. Announces Closing of Qualifying Transaction and Anticipated Trading Date Under the Symbol "RAMP"
Ramp Metals Inc. (TSXV: AAC.P) (formerly Anacott Acquisition Corporation) (the "Company") is pleased to announce that it has closed its previously announced reverse-takeover transaction (the "Transaction") pursuant to a merger agreement (the "Merger Agreement") dated effective July 28, 2023, between the Company (formerly Anacott Acquisition Corporation), Ramp Metals Inc. ("Ramp") and 1429494 B.C. Ltd., a wholly-owned subsidiary of the Company (together, the "Parties").
The Transaction
Effective March 19, 2024, as a condition to the completion of the Transaction, the Company consolidated its common shares ("Common Shares") on the basis of 1.7603584 pre-consolidation Common Shares for one post-consolidation Common Share (the "Consolidation"). Immediately following the Consolidation, the Company had an aggregate of 2,500,000 Common Shares issued and outstanding.
Pursuant to the terms of the Transaction, Ramp amalgamated with 1429494 B.C. Ltd. by way of a three cornered amalgamation pursuant to the Merger Agreement, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca, and all outstanding shares of Ramp ("Ramp Shares") were exchanged for post-Consolidation Common Shares on the basis of one Common Share for each one Ramp Share, resulting in 29,886,305 Common Shares being issued at a deemed price of $0.20 per Common Share to former shareholders of Ramp. Further details regarding the Transaction can be found in the filing statement of the Company dated March 6, 2024 (the "Filing Statement"), a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.
The Parties to the Transaction have made their final submission to the TSX Venture Exchange (the "Exchange") pursuant to Exchange Policy 2.4 to seek final Exchange acceptance of the Transaction.
Following the completion of the Transaction, the Company changed its name to "Ramp Metals Inc." It is anticipated that the Common Shares will resume trading on the Exchange under the trading symbol "RAMP" on or about March 22, 2024.
Escrowed Shares
On completion of the Transaction, certain Principals (as defined in the policies of the Exchange) of the resulting issuer holding an aggregate of 19,800,100 Common Shares became subject to escrow in accordance with Section 6.2 of Policy 5.4 - Escrow, Vendor Consideration and Resale Restrictions of the Exchange ("Policy 5.4") and pursuant to a surplus escrow agreement dated March 19, 2024 between the Company, Computershare Trust Company, as escrow agent, and such Principals. Pursuant to Section 6.2 of Policy 5.4, 5% of the escrowed Common Shares will be released at the time of the final bulletin of the Exchange (the "Final Exchange Bulletin"), 5% of the escrowed shares will be released 6 months from the date of the Final Exchange Bulletin, 10% of the escrowed shares will be released 12 months from the date of the Final Exchange Bulletin, 10% of the escrowed shares will be released 18 months from the date of the Final Exchange Bulletin, 15% of the escrowed shares will be released 24 months from the date of the Final Exchange Bulletin, 15% of the escrowed shares will be released 30 months from the date of the Final Exchange Bulletin, and 40% of the escrowed shares will be released 36 months from the date of the Final Exchange Bulletin. In addition to these restrictions, two Principals holding an aggregate of 9,600,000 Common Shares are also subject to contractual restrictions on the transfer which provide that the first 15% of such Common Shares held by those Principals shall not be released until 6 months from the date of the Final Exchange Bulletin.
Also on completion of the Transaction, certain shareholders of the resulting issuer holding an aggregate of 400,000 Common Shares became subject to seed share resale restrictions in accordance with Section 10.8 of Policy 5.4.
Certain current and/or former shareholders of the Company are subject to an escrow agreement dated March 17, 2021 (the "CPC Escrow Agreement"), with the Exchange and Computershare Trust Company, as escrow agent, in respect of 1,136,133 Common Shares and 227,226 incentive stock options to acquire Common Shares. Under the terms of the CPC Escrow Agreement, 25% of the escrowed securities will be released at the time of the Final Exchange Bulletin, with an additional 25% released on each 6 month anniversary thereafter.
Board of Directors and Executive Management
Following the completion of the Transaction, the following individuals will comprise the directors and officers of the Company:
Jordan Black | - | Chief Executive Officer, Director |
Rachael Chae | - | Chief Financial Officer |
Pritpal Singh | - | Director |
David Parker | - | Director |
Hermann Peter | - | Director |
Michael Romanik | - | Director |
Auditors
Concurrently with the closing of the Transaction, Crowe MacKay LLP has been appointed as the auditor of the Company.
Year End
Following completion of the Transaction, the fiscal year end of the Company shall be June 30.
Additional Information
The Company's transfer agent, Computershare Trust Company, will be mailing or emailing the direct registration system statements pursuant to the direction of the Company to all former shareholders of Ramp setting out each holder's shareholdings.
Holders of pre-Consolidation Common Shares will be receiving by mail, from Computershare Trust Company, a letter of transmittal with instructions on how to remit their pre-Consolidation Common Shares for post-Consolidation Company Shares, as necessary. The CUSIP number for the Common Shares is 75157B108.
For further information, please refer to the Filing Statement posted to the Company's profile on SEDAR+ at www.sedarplus.ca, as well as the Company's press releases dated March 7, 2024, January 23, 2024, September 25, 2023 and July 28, 2023.
About Ramp Metals Inc.
Ramp is a battery and base metal exploration company with two flagship properties located in northern Saskatchewan and one property in Nye County, Nevada. The management team is passionate about green field exploration and new technologies. The vision of Ramp is to make the next big discovery required to fuel the green technology movement.
This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved of the contents of this press release.
Neither 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 release.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the delivery of materials from Computershare Trust Company to holders of pre-Consolidation Common Shares in connection with the Consolidation; the final approval of the TSXV of the Transaction and the anticipated resumption of the trading of the Common Shares; and other factors.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to risks related to the business of the Company and market conditions.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Ramp Metals Inc.
Jordan Black
Chief Executive Officer
info@rampmetals.com
Prit Singh
Director
905 510 7636
info@rampmetals.com
Nickel's Role in the Critical Energy Transition
The European Union, Canada, the US and Australia have all added nickel to their lists of critical minerals, deeming it essential for global sustainable energy and decarbonisation.
In spite of the resource's ubiquity and long history in multiple sectors, many investors know very little about it, overlooking the investment potential of this underhyped base metal.
Through an understanding of nickel's overall market as well as its industrial applications, role in electrification and position in the clean energy landscape, investors can position themselves to identify and leverage a range of promising opportunities.
The many faces of nickel
A silver-white base metal notable for its high corrosion resistance, ductility and thermal conductivity, nickel has historically been used in everything from coins and wires to gas turbines and rocket engines. The metal is a key ingredient in alloys such as stainless steel, which accounts for roughly 69 percent of all nickel usage.
Additionally, nickel-copper alloys are used in desalination plants and boat propeller shafts. Nickel can also be added to glass to give it a green hue and used as a catalyst in the hydrogenation of vegetable oils.
Nickel's radioactivity is among its least-known characteristics — roughly five stable nickel isotopes can be found in nature, with Nickel-58 being the most abundant. These isotopes rarely emit enough radiation to be harmful to life, and the majority of nickel production comes from non-radioactive lateritic deposits. Interestingly enough, this trait may be part of the reason for the extremely high radiation resistance of certain nickel alloys.
Nickel-cobalt-iron-chromium-manganese, for example, barely reacts to radiation and may be used in radiation shielding for commercial spaceflight.
Nickel’s application as a key component in batteries for electric vehicles and energy storage, however, is the primary driver for its designation as a critical mineral. Some of the most efficient lithium-ion batteries to date use an 80 percent nickel cathode, while high-nickel batteries are expected to represent 50 percent of all production by 2030.
In addition to powering electric cars, nickel-based batteries provide critical energy storage for sustainable power grids. This is in addition to a multitude of other use cases in the energy sector. Components that rely on nickel alloys include wellheads, tubing, pipes and valves in oil and gas, turbines in fossil energy production and heat transfer systems, cooling systems and radiation shielding in nuclear power.
Nickel alloys are also used to produce the storage containers used in biofuel production. Wind and hydroelectric power generation use nickel for generator and gearing components. Finally, in solar energy production, nickel-containing stainless steel may be used for collector pipes and storage tanks.
Volatile supply with immense potential
Nickel is the fifth most common element on Earth, with an estimated 102 million tonnes of reserves worldwide. Indonesia and Australia each account for 21 percent of these reserves, followed by Brazil (16 percent). As of 2022, global nickel resources were estimated at over 300 million tons, with 60 percent contained in laterite and 40 percent contained in magmatic sulphide.
Due to its volatile market price, nickel is colloquially referred to as the devil's metal. According to last year's ASA Commodities Report, there are numerous factors contributing to this volatility, including fear of bank failures and a substantial reduction in trading volumes. Additionally, because nickel is used so extensively for industrial applications, uncertainty about commercial and industrial policies has played a large role in price variations over the past several years.
Currently, the global nickel market is valued at an estimated US$33.51 billion and is expected to reach US$53.39 billion by 2031 with a compounded annual growth rate of 7.98 percent. Electrification represents a major driver of this growth. As battery and sustainable energy production continues to ramp up, this may prove problematic.
Although there are extensive nickel reserves worldwide, not all of these reserves are of high enough purity. Both industrial applications and sustainable energy require Class 1 nickel. Also known as battery-grade nickel, Class 1 nickel contains a 99.8 percent or higher concentration of the metal.
Class 2 nickel, meanwhile, refers to all nickel with a purity of less than 99 percent, including nickel pig iron. It's far easier to process than high-grade nickel.
The world currently faces an impending supply shortage of Class 1 nickel for several reasons. First, the ongoing Russia-Ukraine conflict has introduced further uncertainty into the nickel market, creating widespread supply chain disruptions. In the US, the Eagle mine — the country's primary source of nickel — is due to close in 2025.
Lastly, as is the case with many critical minerals, demand for nickel has simply grown at a far faster rate than supply.
Importance of sustainable nickel production
To ensure the sustainable production of critical mineral resources, European regulators introduced the EU Battery Regulation.
A legislative framework encompassing the entire battery lifecycle, the regulation requires battery manufacturers to report the carbon footprint of battery production. This includes not only manufacturing, but also mining and processing. Additionally, if this footprint exceeds a maximum value, a company may potentially be restricted from participating in Europe's battery market.
The EU Battery Regulation went into full effect on February 18, 2024.
Because the creation of battery-grade nickel is historically a resource-intensive process with a large carbon footprint, ensuring sustainable production represents a considerable challenge. Fortunately, emerging production methods, such as high-pressure acid leaching alongside the use of sustainable power, may potentially enable net-zero nickel production. Nickel deposits that require minimal processing can also prove helpful.
Notable nickel projects
As noted by S&P Global Market Intelligence, major nickel discoveries in recent years have been relatively scarce. As such, larger companies such as Vale (NYSE:VALE), Glencore (LSE:GLEN,OTC Pink:GLCNF) and Eramet (EPA:ERA) are expected to play a major role in shoring up Europe's nickel supply chain. With that said, two mining and exploration companies in Europe display promise in terms of nickel production.
Nordic Nickel (ASX:NNL)
Nordic Nickel has two district-scale nickel-copper exploration assets in the Central Lapland Greenstone Belt of Northern Finland, totaling 515 square kilometres. Situated in what many have come to regard as the world's newest major nickel sulphide districts, the projects will further benefit from the country's extensive mining history and commitment to incentivising battery metals projects.
Nordic Nickel's Pulju project contains the Hotinvaara prospect area, which has a JORC resource of 418 million tonnes at 0.21 percent nickel, 0.01 percent cobalt and 53 parts per million copper for 862,800 tonnes of contained nickel, 40,000 tonnes of contained cobalt and 22,100 tonnes of contained copper. Hotinvaara represents only 2 percent of the total Pulju project exploration area and the remainder of the belt remains highly prospective for high-grade massive nickel sulphide and extensive shallow disseminated nickel mineralisation across 35 kilometres of prospective strike.
Nordic’s second project, the Maaninkijoki 3 project, also contains highly prospective ultramafic lithologies similar to the nearby Sakatti deposit.
Kuniko (ASX:KNI)
Kuniko holds roughly 1,065 square kilometres of exclusive license areas in Norway. Its assets are highly prospective for nickel, cobalt and copper, making the company ideally positioned to become a major supplier in the EU battery production chain. As with Nordic Nickel's projects in Finland, Kuniko's projects will benefit from Norway's rich mining history and dedication to supporting critical resource projects.
Investor takeaway
Many investors overlook the potential of nickel as a critical resource investment, owing to its ubiquity and volatility. Given current market trends and ongoing exploration and discovery, nickel’s significant investment opportunity can no longer be ignored. Nickel has immense potential as an investment — specifically, if a company can produce it sustainably and gain access to the European electric vehicle battery production value chain.
This INNSpired article is sponsored by Nordic Nickel (ASX:NNL). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Nordic Nickelin order to help investors learn more about the company. Nordic Nickelis a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nordic Nickel and seek advice from a qualified investment advisor.
Blackstone Update on Refinery Byproduct Offtake Strategy
Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce an update to its recent refinery byproduct offtake MOU announcement.
- Blackstone Minerals Limited (“Blackstone” or the “Company”) has progressed the Ta Khoa Refinery (“TKR” or “Project”) byproduct offtake strategy (refer ASX announcement 21 December 2023). The Company has signed a non-binding Memorandum of Understanding (“MOU”) with three Vietnamese companies to sell Ta Khoa Refinery byproducts, being manganese sulphate (or epsomite) and sodium sulphate. The identified companies include Vietnam Chemical Group (“VinaChem”), PV Chemical and Equipment Corporation (“PVChem”) and Nam Phong Green Joint Stock Company (“Nam Phong”);
- The offtake arrangements would create a pathway for Ta Khoa Refinery byproducts to enter the market as well as significantly improve revenues for the Ta Khoa Project, thus improving project financial credentials and operating costs (net of byproduct credits);
- The identified companies are also chemical suppliers, capable of suppling the necessary reagents to the Ta Khoa Refinery to convert nickel sulphide concentrate (and other intermediate products) into precursor cathode active material (“pCAM”) NCM811;
- Blackstone has signed a non-binding MOU with Development for Resources Environmental Technology Joint Stock Company (“DRET”) to investigate opportunities to repurpose and trade waste material (or residue) from the Ta Khoa Refinery into construction material products;
- Execution of residue offtake agreement/s will yield significant cost savings for the Project as it will reduce capex associated with on site storage requirements and improve revenue.
For a video summary of the announcement head to the Blackstone Investor Hub
https://investorhub.blackstoneminerals.com.au/link/4PK1xe
Byproduct Offtake & Reagent Supply Agreements
The Company has signed non-binding MOUs with three Vietnamese companies to develop opportunities to trade byproducts produced from its Vietnamese Ta Khoa Refinery.
The refinery will produce three different byproducts, these are:
- copper cathode (LME grade),
- magnesium sulphate in the form of epsomite,
- sodium sulphate.
The TKR prefeasibility study did not consider epsomite and sodium sulphate as ‘cash generating’. The inclusion of epsomite and sodium sulphate as a saleable byproduct will improve revenues for the TKR DFS, thus improving project financial credentials and operating costs (net of byproduct credits).
The engaged companies will use TKR byproducts to produce products such as fertiliser, detergents, construction materials and other chemical products. These products are then used in Vietnamese and global industries such as, but not limited to, agriculture, construction, industrial cleaning products, medical, textile, chemical, paper and glass manufacture.
Importantly, the engaged companies can take the full amount produced by the refinery. The Companies confirmed the byproduct volumes produced from the refinery are only a small portion of what is currently being imported into Vietnam, demonstrating offtake security. Blackstone believes it has a competitive advantage to displace the imported epsomite and sodium sulphate products given its location within Vietnam.
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This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Substantial Increase in Hotinvaara Resource Establishes Pulju as Globally Significant Nickel Sulphide District
Updated in-situ Mineral Resource Estimate sees contained nickel metal increase to 862,800t, demonstrating scale and significance of the Pulju Project.
Nickel sulphide and battery metals explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased to announce an updated in-situ JORC (2012) Mineral Resource Estimate (MRE) for the Hotinvaara Prospect (Hotinvaara) at its flagship, 100%-owned Pulju Nickel Project (Pulju, or the Project) in Finland following an extensive drilling campaign in 2023.
HIGHLIGHTS
- Updated Mineral Resource Estimate (MRE) completed for the Hotinvaara Prospect:
- MRE increased to 418Mt @ 0.21% Ni, 0.01% Co and 53ppm Cu for 862,800t of contained Ni, 40,000t of contained Co and 22,100t of contained Cu;
- Indicated Resource now 42Mt @ 0.22% Ni, for 92,700t of contained Ni;
- Inferred Resource of 376Mt @ 0.21% Ni, for 770,100t of contained Ni.
- A substantial portion of the updated MRE is located within 250m of surface, including 90,338t of contained Ni in the Indicated category and 368,750t as Inferred.
- The Company’s 28 holes drilled during 2023 have more than tripled the in-situ contained nickel estimate and the updated MRE now exceeds the upper end of the Company’s previously published Exploration Target.1
- Previously reported test work indicated 83-94% of the total nickel is in sulphides, with excellent liberation characteristics.
- Detailed metallurgical test work program is now underway.
- Revised, in-situ MRE demonstrates that the Hotinvaara Prospect represents a fertile ultramafic system that hosts extensive disseminated nickel sulphides that continue well beyond the current exploration area.
- Positions Pulju as a strategically significant project in the context of the rapidly growing battery materials supply chain in Europe.
- Exploration planning underway to refine the next phase of exploration, with an emphasis on potential high-grade targets within the vast disseminated nickel sulphide complex defined at Pulju.
Pulju is located in the Central Lapland Greenstone Belt (CLGB) of Finland, 50km north of Kittilä with access to world-class infrastructure, grid power, national highway, an international airport and, most importantly, Europe’s only two nickel smelters. The municipality of Kittilä also hosts western Europe’s largest gold mine, Suurikuusikko, operated by Agnico Eagle.
This updated MRE establishes Pulju as a globally significant nickel sulphide project, particularly given its proximity to the fast-growing European battery materials and EV sector.
The known nickel mineralisation in the CLGB is typically associated with ultramafic cumulate and komatiitic rocks with high-grade, massive sulphide lenses and veins enveloped by very large, lower grade disseminated nickel near-surface. The disseminated nickel at the Hotinvaara Prospect is widespread, while the known massive sulphides and higher-grade accumulations remain the primary target for upcoming drill campaigns at Hotinvaara.
The revised in-situ JORC (2012) MRE of 418Mt @ 0.21% Ni, is focused primarily on the potential of the near-surface disseminated mineralisation. Importantly, the area containing the MRE is limited solely to the Hotinvaara Exploration Licence area, which represents just 5km2 of Nordic’s total prospective project area of 240km2 at the Pulju Project.
Management Comment
Nordic Nickel Managing Director, Todd Ross, said the substantial increase in the in-situ MRE reflected the success of the Company’s maiden drill program in 2023, with the outcomes demonstrating the enormous scale and significance of the Pulju Project.
“Achieving a more than threefold increase in overall tonnages and contained metal is a fantastic result for our shareholders which really puts Pulju on the global nickel map,” he said.
“While cautioning that this is an in-situ MRE and further work is underway to fully establish its economic potential, the updated MRE clearly establishes the size of the disseminated nickel sulphide system – which remains open in almost all directions. It is also particularly significant that the updated MRE represents just two per cent of our overall landholding in North Finland.
“The revised MRE shows that Hotinvaara is a very fertile ultramafic system with disseminated sulphides now defined over a vast area. Our geology team, supported and advised by some of the world’s best nickel sulphide experts, believe this represents a clear marker or pathfinder to potential zones of higher-grade mineralisation, as well as delineating a major deposit in its own right.
“Strategically, this will be our focus over the coming months as we progress further studies to evaluate the disseminated mineralisation – principally detailed metallurgical testwork.
“The discovery of a significant zone of Sakatti-style mineralisation at Pulju could quickly transform the project and elevate the importance of the disseminated mineralisation already defined.
“We believe that Pulju is a project that is perfectly positioned to benefit from what we expect to be a significant recovery in the global nickel market in the coming years as the Western World seeks new sources of Class-1 nickel.
“European end-users in particular are already looking for potential sources of high-quality ‘green nickel’ to fuel the EV and battery industries of the next decade. Cheap Indonesian nickel is simply not an option for these customers, and that is the gap in the market we are chasing.
“European battery makers and auto giants are in the market for raw materials that come from within Europe and have solid green credentials. There aren’t many new mines in this part of the world to meet that demand – and that’s where projects like Pulju come in.
“This updated MRE sets a very strong value foundation for Nordic Nickel and provides us with an excellent launch pad to move forward into our second year of operations in Finland. We are looking forward to a busy year ahead with the resumption of drilling, metallurgical testwork results and other strategic developments that could significantly enhance the project.”
Click here for the full ASX Release
This article includes content from Nordic Nickel, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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