Highlights:
- Life-of-mine Crawford CO2 footprint lower than 99.7% of
global nickel production
- Crawford estimate of 2.05 tonnes of CO2 per tonne of
nickel-equivalent production, 93% lower than the industry average
of 29 tonnes CO2
- Estimate excludes potential carbon offsets expected from
company's waste rock and tailings, which is expected to result in
net zero CO2 production
TORONTO, June 1, 2021 /CNW/ - Canada Nickel Company Inc.
("Canada Nickel" or the "Company") (TSXV:
CNC) (OTCQB: CNIKF) today announced its Crawford project is
expected to have an industry leading low carbon footprint, lower
than 99.7% of existing global nickel production. When in operation,
Crawford is expected to produce 2.05 tonnes of carbon dioxide (CO2)
per tonne of nickel-equivalent production over the life of mine.
This is 93% lower than the industry average of 29 tonnes of
CO2.
These results are based on a study by Skarn Associates, a metals
and mining ESG research company, applying data from Canada Nickel's
Preliminary Economic Assessment ("PEA"), the results of which were
released on May 25th 2021.
Importantly, this CO2 footprint estimate does not include the
carbon offset expected to be provided from the process of
spontaneous mineral carbonation from the tailings and waste rock
comprised largely of serpentine rock which naturally absorbs CO2
when exposed to air.
Mark Selby, Chair & CEO
said, "This study demonstrates that Canada Nickel's Crawford
project can be a world-leading large scale, low cost nickel
supplier while possessing an extremely low carbon footprint. I am
particularly excited that we can achieve this result even before we
include the carbon offset potential from our waste rock and
tailings which we expect to allow us to produce NetZero
NickelTM, NetZero CobaltTM, and NetZero
IronTM. These results reflect the mine's low strip
ratio and our ability to utilize the low carbon hydroelectricity in
the region and by using trolley trucks and electric shovels to
reduce the consumption of diesel fuel."
Skarn Associates' proprietary E0 GHG intensity metric
relates to Scope 1 and 2 mine site emissions from mining and
processing of ore, plus fugitive emissions. It includes emissions
from integrated smelting and refining facilities, but excludes
emissions from third-party smelting and refining. Emission
intensities are stated on a recovered nickel-equivalent basis,
calculated using average 2020 metal prices. Emissions are pro-rated
across all commodities produced by the mine, based on contribution
to gross revenue.
Figure 1 – Nickel GHG Intensity Curve - CO2e Intensity
(tCO2e/t Ni eq.)
About Skarn Associates
Skarn's mission is to bridge
the research gap between mine economics and ESG. Founded in
2016, since early 2020 Skarn has focused on creating high quality,
independent, forward-looking mining sector ESG analysis, especially
energy use and carbon emissions from mining, smelting and refining
operations. Commodities covered include nickel, gold, aluminum,
zinc, iron ore, metallurgical coal and copper.
Skarn has become a leader in mining sector greenhouse gas
benchmarking, having developed unique methodologies and datasets,
including its proprietary E0 and E1™ emissions metrics. For more
information visit www.skarnassociates.com.
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. For more information,
please visit www.canadanickel.com.
Qualified Persons
Stephen J.
Balch P.Geo. (ON), VP Exploration of Canada Nickel and a
"qualified person" as such term is defined by National Instrument
43-101, has verified the data disclosed in this news release, and
has otherwise reviewed and approved the technical information in
this news release on behalf of Canada Nickel.
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 Crawford's PEA, including proposed
mining plans and methods, 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. The PEA results are estimates only and are based
on a number of assumptions, any of which, if incorrect, could
materially change the projected outcome. 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, and the impact of COVID-19 related
disruptions in relation to the Company's business operations
including upon its employees, suppliers, facilities and other
stakeholders. 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.
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SOURCE Canada Nickel Company Inc.