Highlights
- Testwork demonstrates opportunity for improvements in
recovery from the Crawford East Zone
- Locked cycle test delivered a 60% nickel sulphide
concentrate – believed to be world's highest nickel grade sulphide
concentrate produced – and a total nickel recovery of 47% exceeding
the feasibility study model by 9%
- Ten new open circuit variability tests demonstrated nickel
recoveries averaging 28% higher than the feasibility study
model
- Pilot plant program initiated at SGS Lakefield
TORONTO, July 29,
2024 /CNW/ - Canada Nickel Company Inc.
("Canada Nickel" or the "Company") (TSXV:CNC)
(OTCQX:CNIKF) is pleased to announce the successful completion of
further metallurgical testing on Crawford East Zone material.
Mark Selby, Canada Nickel CEO,
said, "We believe there remains significant optimization potential
at Crawford, which is supported with today's metallurgical results
on the East Zone that produced a high grade concentrate from a
blended East Zone sample and 10 further metallurgical tests from
the existing starter pit area that averaged 28% higher recovery
than currently modelled in the feasibility study. Our Front
End Engineering Design work that started in April is progressing
well and continues to identify further optimization
opportunities."
Mr. Selby continued, "The pilot plant at SGS Lakefield is more
than four times the size of our prior plant that was used in 2022,
and is focused on using East Zone material to generate substantial
quantities of nickel and NiCr magnetite concentrate to be utilized
by our NetZero Metals downstream business. The plant began
commissioning during the past week and is expected to operate until
September."
Crawford Nickel Sulphide Project East Zone Metallurgical
Variability Program
A metallurgical variability program was initiated at the start
of 2024 in order to increase confidence in the recovery and
concentrate quality estimates and evaluate optimization
opportunities for the East Zone. To date, 10 open circuit tests and
one locked cycle test have been completed on samples from the East
Zone which are indicating potential for improvements in the East
Zone nickel recovery equations.
Table 1 summarizes the results from the locked cycle test which
was completed on a composite of samples taken from the Feasibility
Study, East Zone starter pit. The composite had a head grade of
0.29% nickel, 0.04% sulphur, 5.1% iron and contained
heazlewoodite-awaruite style mineralization. The composite
delivered a total nickel recovery of 47% which exceeded the
modelled recovery target by 9% or 4 percentage points of recovery.
The composite also supported the potential for high grade
concentrate production as the nickel sulphide concentrate product
graded 60% nickel. The magnetic recovery circuit also performed
well as the iron recovery fell within 1 percentage point of the
modelled recovery and the chromium recovery exceeded the modelled
recovery by 3 percentage points and the concentrate grade target
was achieved.
Table 1. Crawford Nickel Sulphide Project East Zone Locked
Cycle Test Result
|
Head
Grades
(%)
|
Recovery
(%)
|
Concentrate Grades
(%)
|
Ni
Conc.
|
NiCr
Conc.
|
Ni
|
S
|
Fe
|
Ni
|
Co
|
Fe
|
Cr
|
Ni
|
Co
|
Fe
|
Cr
|
Ni
|
Actual
|
0.29
|
0.04
|
5.1
|
47
|
1
|
57
|
31
|
60
|
0.10
|
55
|
4.2
|
0.62
|
Modelled
|
-
|
-
|
-
|
43
|
4
|
58
|
28
|
40
|
0.23
|
55
|
3.7
|
0.72
|
Difference
|
-
|
-
|
-
|
+4
|
-3
|
-1
|
+3
|
+20
|
-0.13
|
0
|
+0.5
|
-0.10
|
In addition to this locked cycle test result, 10 open circuit
variability tests on samples from the East Zone were successfully
completed. Of the initial 10 new samples that have been tested in
2024, eight of the samples exceeded the modelled total nickel
recovery. The average difference between achieved and modelled
recoveries for the 10 samples was 28% higher or 10 percentage
points above modelled. Nickel and NiCr concentrate grades
were in line with expectations and consistent with feasibility
study models.
Table 2. Crawford Nickel Sulphide Project - Summary of
New Open Circuit Test Results for East Zone Starter Pit
|
Head
Grades
(%)
|
Total
Recoveries
(%)
|
Recovery Performance
(%)
Actual -
Modelled
|
|
|
Sample
ID
|
Ni
|
S
|
Fe
|
Ni
|
Co
|
Fe
|
Cr
|
Ni
|
Co
|
Fe
|
Cr
|
|
CNS-001
|
0.17
|
0.03
|
6.9
|
55
|
1.5
|
60
|
14
|
17
|
-3
|
-3
|
-19
|
|
CNS-002
|
0.27
|
0.04
|
5.6
|
54
|
4.9
|
52
|
34
|
10
|
1
|
-4
|
5
|
|
CNS-003
|
0.26
|
0.01
|
5.3
|
23
|
0.5
|
44
|
28
|
-4.6
|
-4
|
-12
|
-1
|
|
CNS-005
|
0.27
|
0.09
|
5.7
|
71
|
5.2
|
49
|
28
|
14
|
-5
|
-3
|
0
|
|
CNS-006
|
0.30
|
0.05
|
5.5
|
67
|
4.7
|
61
|
35
|
17
|
1
|
6
|
6
|
|
CNS-007
|
0.28
|
0.04
|
5.5
|
43
|
0.7
|
59
|
32
|
-0.3
|
-3
|
4
|
4
|
|
CNS-008
|
0.18
|
0.01
|
7.5
|
36
|
1.1
|
55
|
31
|
7.9
|
-3
|
-8
|
0
|
|
CNS-009
|
0.27
|
0.01
|
5.2
|
33
|
2.0
|
47
|
29
|
5.0
|
-2
|
-16
|
-2
|
|
CNS-010
|
0.20
|
0.02
|
7.7
|
42
|
0.7
|
63
|
37
|
10
|
-3
|
3
|
8
|
|
CNS-011
|
0.16
|
0.03
|
7.4
|
60
|
1.5
|
61
|
20
|
23
|
-3
|
-1
|
-13
|
|
Average
|
0.23
|
0.03
|
6.2
|
48
|
2.3
|
55
|
29
|
10
|
-2
|
-3
|
-1
|
|
Pilot Plant Program
Canada Nickel is completing a 130 tonne mineral processing pilot
plant program at SGS Lakefield. The program will see the full
process flowsheet piloted and is being completed to generate
samples of concentrate for NetZero Metals and provide additional
data to support the engineering of the project. Updates will be
provided as the project progresses.
Qualified Person and Data Verification
Arthur G. Stokreef, P.Eng (ON),
Manager of Process Engineering & Geometallurgy and a "qualified
person" as such term is defined by National Instrument 43-101, has
reviewed and approved the technical information in this news
release on behalf of Canada Nickel Company Inc.
About Canada Nickel
Canada Nickel Company Inc. is advancing the next generation of
nickel-sulphide projects to deliver nickel required to feed
the high growth electric vehicle and stainless steel markets.
Canada Nickel Company has applied in multiple jurisdictions to
trademark the terms NetZero NickelTM, NetZero
CobaltTM, NetZero IronTM and is pursuing the
development of processes to allow the production of net zero carbon
nickel, cobalt, and iron products. Canada Nickel provides
investors with leverage to nickel in low political risk
jurisdictions. Canada Nickel is currently anchored by its 100%
owned flagship Crawford Nickel-Cobalt Sulphide Project in
the heart of the prolific
Timmins-Cochrane mining camp. For more information, please
visit www.canadanickel.com.
For further information, please contact:
Mark Selby, CEO
Phone: 647-256-1954 Email:
info@canadanickel.com
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward looking information includes,
but is not limited to, the results of metallurgical testing on
Crawford East Zone relating to the Crawford Nickel Sulphide
Project, the potential of the mineral processing pilot plant
program at SGS Lakefield, the potential of the Crawford Nickel
Sulphide Project, timing and completion (if at all) of mineral
resource estimates, the ability to sell marketable materials,
strategic plans, including future exploration and development plans
and results, and corporate and technical objectives.
Forward-looking information is necessarily based upon several
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking
information. Factors that could affect the outcome include,
among others: future prices and the supply of metals,
the future demand for metals, the results of drilling, inability to
raise the money necessary to incur the expenditures required
to retain and advance the property, environmental liabilities
(known and unknown), general business, economic,
competitive, political and social uncertainties, results of
exploration programs, risks of the mining industry, delays in
obtaining governmental approvals, failure to obtain
regulatory or shareholder approvals. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date
hereof and is based upon the opinions and estimates of management
and information available to management as at the date
hereof. Canada Nickel disclaims any intention or obligation
to update or revise any forward-looking information, whether
because of new information, future events or otherwise, except as
required by law.
Neither the 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
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SOURCE Canada Nickel Company Inc.