Nickel Creek Platinum Announces 2020 Field Program at Nickel Shaw
TORONTO, July 21, 2020 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP) ("Nickel Creek" or the "Company") is pleased to announce the plans for the 2020 field program at its 100%-owned Nickel Shäw Project (the "Project") in the Yukon, Canada.
Following successful completion of the recent C$3.625 million private placement, which included a Flow-Through Offering of C$1.425 million, the Company has secured the necessary funding required to perform an exploration drill and Electromagnetic (EM) geophysics program at its nickel – copper – PGM project. The program is expected to commence in August 2020.
Diane Garrett, President and CEO commented, "We truly appreciate our shareholders for continuing to support the Company to advance work on the targets identified through last year's geophysics program. The large nickel – copper – PGM resource at the Wellgreen Deposit contains the fundamental metals needed for the Electric Vehicle (EV) revolution in transportation and energy storage."
The Nickel Shäw Project is well advanced in terms of the Company's understanding of its geology, metallurgy and engineering requirements. The metallurgical work successfully produced a salable bulk concentrate, and salable separate nickel and copper concentrates. Not unlike other large nickel sulfide projects, the Project requires higher commodity prices to justify development in the current macro-economic environment. The main deposit which spans nearly two kilometres in strike has significant upside potential. During 2019, the team, together with independent nickel expert, Mr. Cam Bell (see news release dated August 2, 2019), carried out a comprehensive and systematic review of the entire property (20 km in strike) in search of additional targets with higher grade, massive sulfide mineralization potential. This work involved a ground-based EM geophysics program over the adjacent Quill target area. The program was conducted by SJ Geophysics Ltd. of Delta, BC, Canada.
On December 18, 2019, the Company announced the results of its geophysics program on the Quill exploration target area, which is adjacent to the main resource, but within the Nickel Shäw project land package. The results of the geophysics program, which was designed to target areas of massive sulfides, identified several strong conductors. The Company has identified two main target areas for drill testing that are shown in Figure 1 below.
The Company has planned a 1,200 metre drill program to be conducted by Atlas Drilling Ltd. of Kamloops, BC, Canada. In addition, due to the success of the EM geophysics program in 2019 on the Quill area, the Company also intends to conduct an EM program on the Arch and Burwash areas east and west of the main deposit area. Geologic mapping and surface sampling are also planned for near surface targets identified in the EM survey. SJ Geophysics Ltd. will be conducting the EM program.
COVID-19
In preparation for the 2020 field program, the Company is closely monitoring updates related to COVID-19 and will be following all territorial and federal guidelines imposed. The safety and well-being of our employees, contractors, consultants and the local community are our highest priority. The Company has implemented a COVID-19 policy which will become part of the safety training and procedures at site.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Project is a large undeveloped nickel sulfide project in one of the most favourable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals. The Project has exceptional access to infrastructure and is located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska. The Company is also investigating other opportunities for shareholder value creation.
The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.
Scientific and Technical Information
The scientific and technical information disclosed in this news release was reviewed and approved by James Berry, Nickel Creek's Chief Geologist and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements with respect to the Company's 2019 and 2020 exploration, drilling, geophysics and sampling programs (and the results and potential results thereof), and general future plans and objectives for the Company and the Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.
For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Nickel Creek Platinum Corp.
Nickel Creek Platinum Contact: Diane R. Garrett, President & Chief Executive Officer, 1-416-304-9318, [email protected]
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