canadanickel.com | TSX-V:CNC
Canada Nickel continues fast pace on Crawford deposit near Timmins
The Abitibi Greenstone Belt has produced enormous amounts of gold, silver, copper and zinc over the past century and now there are several companies looking to add nickel to that list- and the company that is taking center stage is Canada Nickel. By Kevin Vincent
Canada Nickel Company filed its first-ever PEA on July 12th and it suggests a 25-year mine life assuming they get from here to production. It has been a whirlwind year and a half since the junior explorer released a maiden set of drill results that suggested there is a massive nickel-cobalt deposit approximately 40 km to the north of Timmins’ world-renowned Kidd Creek mine complex. At the recent Mining the Abitibi Conference hosted by Virtex, Canada Nickel Chair and CEO Mark Selby outlined where the company is at and where it is headed. “It’s a new discovery we made a year ago September. Since that time, we’ve already defined what is one of the 10 largest sulfide resources globally,” said Selby. “We have a huge amount of exploration potential to go. In my past life, I advanced the Dumont project (Quebec) from resource stage to Page 30
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fully permitted construction-ready stage with a broad base of community support. Having assembled much of the former Dumont team at Canada Nickel, we intend to repeat that here.” Selby says one of the key pieces was an excellent relationship with the local community and local First Nations. He says CNC has been off to an excellent start with Taykwa Tagamou Nation (New Post) , Matachewan, and Mattagami. “One of the key dimensions of this project in a decarbonizing world you’ve seen more and more press over the last 12 months about how important and how many companies are focused on net-zero carbon goals going forward. And what is very exciting about the project, in addition to it being one of the world’s largest sources of nickel for the next generation, is the ability for us to produce large quantities of nickel. We believe that’ll be zero carbon nickel, cobalt and zero carbon iron.” Selby says the company has min-
eralization that when it is exposed to air, has the potential to spontaneously absorb CO2 and permanently sequester it out. “Again, being in the Timmins region, we’re very fortunate to have access to zero carbon, low-cost hydroelectricity and we’re able to substitute some of the diesel we use by using electricity with trolley trucks and that puts us in great position to be able to deliver on that zero carbon promise,” he said. In June, CNC announced the results of its PEA - US$1.2 billion dollar after tax NPV8%, IRR of 16%. “We’ll be producing nearly two billion pounds of nickel at just over $1 per pound of nickel C1cash costs and just under $2 per pound all-in sustaining costs, and this also includes a substantial amount of iron and chrome by-product revenues.” CNC is looking at a downstream approach with processing in the Timmins region. Selby says the company is just getting started. The PEA indicates a 25-year mine Cont`d on Pg. 32
