TORONTO, Dec. 4, 2020 /CNW/ - Canada Nickel Company Inc.
("Canada Nickel" or the "Company") (TSX-V:CNC)
(OTCQB: CNIKF) today announced that the Company has filed on SEDAR
an independent technical report (the "Report") prepared in
accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects ("NI 43-101") supporting the
mineral resource estimate for its 100% owned Crawford Nickel-Cobalt
Sulphide Project ("Crawford") near Timmins, Ontario, which was reported in the
Company's news release dated October 21,
2020. The Mineral Resource Estimate, effective as of
October 18, 2020, was prepared
following the CIM Definition Standards for Mineral Resources and
Reserves (November 29, 2019).
The full technical report dated December
4, 2020, with an effective date of November 1, 2020 is entitled "Independent
Technical Report and Mineral Resource Estimates Crawford
Nickel-Cobalt Sulphide Project: Main Zone (Update) and East Zone
(Maiden) Deposits". The report was prepared for Canada Nickel by
Caracle Creek International Consulting Inc. and can be found under
the Company's issuer profile at www.sedar.com.
The Crawford Nickel-Cobalt Sulphide Project is located in the
heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to
well-established, major infrastructure associated with over 100
years of regional mining activity. Canada Nickel has launched
wholly-owned NetZero Metals Inc. with the aim to develop
zero-carbon production of nickel, cobalt, and iron at the Crawford
Project.
Issuance of Options and RSUs to new members of Canada Nickel
Management Team
The Company also announced today that it has granted options to
acquire common shares of the Company ("Options") and restricted
share units ("RSUs") to each of Pierre-Philippe Dupont (recently appointed Vice
President Sustainability of the Company) and Wendy Kaufman (recently appointed Chief
Financial Officer of the Corporation). Each of Mr. Dupont and Ms.
Kaufman was granted 180,000 Options exercisable at $1.62 per common share (the applicable price per
common share when such grants were approved) and 115,000 RSUs.
These Options and RSUs are subject to shareholder approval as
required by the TSX Venture Exchange and the terms and conditions
of the Company's option plan and restricted share unit plan,
respectively.
Issuance of Shares
The Company also announced today that it will be issuing 42,781
common shares to an arm's length party in satisfaction of its
obligation to pay $80,000 in fees.
The shares will be subject to a four-month hold period under
applicable securities laws.
Assays, Quality Assurance/Quality Control and Drilling and
Assay Procedures
William E. MacRae, MSc, P.Geo., a
Qualified Person as defined by NI 43-101, is responsible for the
on-going drilling and sampling program, including quality assurance
(QA) and quality control (QC). The core is collected from the drill
in sealed core trays and transported to the core logging facility.
The core is marked and sampled at 1.5 metre lengths and cut with a
diamond blade saw. Samples are bagged with QA/QC samples inserted
in batches of 35 samples per lot. Samples are transported in secure
bags directly from the Canada Nickel core shack to Actlabs Timmins,
an ISO/IEC 17025 accredited lab. Analysis for precious metals
(gold, platinum and palladium) are completed by Fire Assay while
analysis for nickel, cobalt, sulphur and 17 other elements are
performed using a peroxide fusion and ICP-OES analysis. Certified
standards and blanks are inserted at a rate of one QA/QC sample per
32 core samples making a batch of 35 samples that are submitted for
analysis.
Qualified Person and Data Verification
Dr. Scott Jobin-Bevans (P.Geo.,
APGO #0183), independent of the Company and a Qualified Person as
defined by NI 43-101, has reviewed and approved the scientific and
technical content of this news release. The independent Qualified
Person for the Mineral Resource Estimate, as defined by NI 43-101,
is Mr. Luis Oviedo (P.Geo., Chilean
Mining Commission: RM, CMC #013), of Caracle Creek International
Consulting Inc. and Atticus Chile S.A. The Quality Control-Quality
Assurance review was conducted by independent engineer Mr.
John Siriunas (P.Eng., APEO
#42706010), a Qualified Person as defined by NI 43-101.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of
nickel-cobalt sulphide projects to deliver nickel and cobalt
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 and cobalt 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.
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, mineral resource estimates relating to the
Crawford Nickel-Cobalt Sulphide Project, the potential of the
Crawford Nickel-Cobalt Sulphide Project, strategic plans, including
future exploration and development results, and corporate and
technical objectives. Forward-looking information is necessarily
based upon a number of 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,
and 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 as a result of new information, future events
or otherwise, except as required by law.
SOURCE Canada Nickel Company Inc.