TORONTO, June 5, 2019 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP) ("Nickel Creek" or the "Company") is pleased to provide an update on its 100%-owned flagship Nickel Shäw Project (the "Project") located in the Yukon, Canada and its 2019 AGM.
As disclosed in the news release dated September 25, 2018, the Company had advanced the Project to the point of reaching a fulsome understanding of principal technical aspects of the Project, including resource, geology, metallurgical characteristics and plant design. It was determined that the Project has substantial endowments of nickel, copper, cobalt, platinum and palladium that could be developed at metal prices higher than currently prevalent in the market. In the interim, the Company has been focusing on ways of enhancing the value of Nickel Shäw. To that end, it engaged Mr. Cam Bell, a consultant with over 20 years of nickel exploration experience with companies such as Inco and Vale, to independently review the Project's geological, drilling and geochemical data to determine if areas of higher-grade mineralization could be identified. Mr. Bell, while supporting the Company findings to date, made recommendations for additional geophysics and sampling at targets along trend from the main Wellgreen deposit and the Company is reviewing Mr. Bell's recommendations. In addition, Nickel Creek is advancing environmental baseline studies at the Project and continues with its community engagement program. Nickel Shäw remains Nickel Creek's flagship asset with a significant option on a mix of metals including nickel, copper, cobalt, platinum and palladium. Located in a favourable jurisdiction, this Project is well positioned to benefit from the growing global demand in the battery market.
In addition to carrying out work on its Nickel Shäw Project, the Company has been seeking additional value accretive opportunities for its shareholders. Given the level of activity with due diligence reviews and the timing and nature of a potential financing with significant shareholders, the Company felt it would be prudent and cost effective to postpone its AGM to minimize possible duplication of general and administrative costs associated with the annual meeting.
The Company has received permission from the TSX to move its 2019 AGM to a date which would be no later than September 4, 2019. The specific date will depend on a number of factors being considered internally. The Company will make appropriate and timely announcements once the date is determined.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship assets is its 100%-owned Nickel Shäw Project. The Project has exceptional access to infrastructure, 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.
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, the ability of the Company to identify additional opportunities to create shareholder value, 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.
For further information: Diane R. Garrett, President and CEO, [email protected], 1-416-304-9318