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Power Nickel Continues Extension of Mineralization with High Grade Results at Nisk – InvestingNews.com

PN-21-003A – 27.4 Metres 0.94% Ni, 0.63% Cu, 0.06% Co, 0.72gPd, 0.10g Pt
PN-21-002 – 8.4 Metres 1.45% 0.40% Cu, 0.10% Co, 1.21gPd, 0.45g Pt
Power Nickel Inc . (the “Company” or “Power Nickel“) (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) and Critical Elements Lithium Corporation (” Critical Elements “) (CRE)(CRECF)(F12) are pleased to announce results from the second set of drill holes have been received from its recent drill program at its “NISK” Nickel Sulphate project near James Bay. These drill results confirm (PN-21-003A) the presence of high-grade Nickel Mineralization in the central portion of the Nisk Main mineralized lens. In addition to the historic and previously released assays, these new results (PN-21-002) also demonstrate that higher grade mineralization extends by at least an additional 50 m at depth and to the southwest. (Current holes are in Bold in the Table below
Hole ID
UTM E*
UTM N*
Length (m)
Azimuth
(°)
Dip (°)
From
(m)
To
(m)
Length** (m)
Ni (%)
Cu (%)
Co (%)
Pd (g/t)
Pt
(g/t)
PN-21-001
459784
5728538
264.00
170
-65
Pending
PN-21-002
459626
5728600
396.00
160
-70
352.10
363.00
10.90
1.16
0.32
0.08
0.94
0.35
Including
354.60
363.00
8.40
1.45
0.40
0.10
1.21
0.45
PN-21-003A
459691
5728576
333.00
161
-70
27.40
Including
11.50
PN-21-004
459913
5728703
360.00
163
-63
Pending
PN-21-005
459998
5728721
325.50
164
-63
PN-21-006
460100
5728782
399.00
160
-69
PN-21-007
460216
5728802
318.00
161
-63
Including
*UTM NAD83, Zone 18N
**True widths are estimated to be 70 to 90% of core length
The illustration below details the current location of drill holes covered in this release, the previous March 1, 2022 release, and also the remaining drill holes which are expected to be announced in the coming days.
“These results are another positive indication that Nisk is a very exciting Nickel Sulphate discovery. It’s particularly encouraging to have such a large intersection of 27.4 Metres on hole PN-21-003A and to see 1.45% Ni over 8.4 Metres at depth in hole PN-21-002. These results are indicating that Nisk could have the potential to host a commercial high-grade Nickel Sulphate deposit. Our objectives in this initial drill program conducted by Power Nickel were to produce enough drilling to allow us to establish a new NI 43-101 compliant resource to confirm and replace the historical resource, and to extend the known Nickel mineralization. We believe we have established the latter and expect to be able to deliver a NI 43-101 compliant Mineral Resource Estimate in Q2″, commented Power Nickel‘s CEO Terry Lynch.
The existing resource estimates at the Nisk project are of historic nature and the Company’s geology team has not completed sufficient work to confirm a NI 43-101 compliant mineral resource. Therefore, caution is appropriate since these historic estimates cannot, and should not be relied on. For merely informational purposes see Table 1.
Table ‑1: Historical Resource Estimate figures for respective confidence categories at the NISK-1 deposit, After RSW Inc 2009: Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec.
The information regarding the NISK-1 deposit was derived from the technical report titled “Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec” dated December 2009. The key assumptions, parameters, and methods used to prepare the mineral resource estimates described above are set out in the technical report.
The 3D geological model developed by 3DGeo Solution Inc. (“3DGS”) identified a prospective set of targets that the Company feels will give the best potential to expand the Nisk historical deposit. The image below is a view of the mineralization projected from the surface at the area we refer to as Nisk Main.
“Nisk has four distinct target areas covering over 7 Kilometres of strike length. Our focus this round was on the Nisk Main target. Historically, we know globally these types of deposits typically have multiple pods. We are encouraged by what we see on Nisk Main and feel we can continue to build commercial tonnage there but we are also looking forward to exploring Nisk West and the two wildcat targets in subsequent drilling in Q2”, commented Power Nickel‘s CEO Terry Lynch.
ABOUT NISK
Nisk is located south of James Bay as illustrated in the area map below. This region is the site of a number of mining projects and improving infrastructure.
Nisk has historically had some very high-grade Nickel intercepts as shown below. The Grade-Thickness iso-contours are representative of the nickel distribution only.
Analysis and QAQC Procedures
All samples were submitted to and analyzed at ALS Global (“ALS”), an independent commercial laboratory located in Val-d’Or, Québec for both the sample preparation and assaying. ALS is a commercial laboratory independent of Power Nickel with no interest in the Project. ALS is an ISO 9001 and 17025 certified and accredited laboratory. Samples submitted through ALS are run through standard preparation methods and analyzed using ME-ICP61a (33 element Suite; 0.4g sample; Intermediate Level Four Acid Digestion) and PGM-ICP27 (Pt, Pd, and Au; 30g fire assay and ICP-AES Finish) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.
Power Nickel‘s QA/QC program includes the regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. Historic holes were assayed by various accredited laboratories.
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Canada and Chile.
On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE: TSXV)
The NISK property comprises a large land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.
Power Nickel (then called Chilean Metals) announced on June 8 th , 2021 that an agreement has been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in a total of 67 million ounces of gold, 569 million ounces of silver, and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold, and plus/minus copper.
Power Nickel is the 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, recently sold to a subsidiary of Teck resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3-million at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s first region.
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly-owned, high-purity Rose lithium project in Quebec. Rose is the Corporation’s first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, Critical Elements completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after-tax, with a net present value estimated at C$726 million at an 8% discount rate. In Critical Elements’ view, Quebec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; Critical Elements is working to obtain similar approval under the Quebec environmental assessment process. Critical Elements also has a good, formalized relationship with the Cree Nation.
For further information on Power Nickel Inc., please contact:
Mr. Terry Lynch, CEO
647-448-8044
terry@powernickel.com
For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
For further information on Critical Elements, please contact:
Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
plaperriere@cecorp.ca
www.cecorp.ca
or
Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca
ON BEHALF OF THE BOARD OF DIRECTORS
Terry Lynch & CEO terry@powernickel.com
Qualified Person
Kenneth Williamson, Géo (OGQ #1490), M.Sc., Senior Consulting Geologist, and Matthew DeGasperis, Géo (OGQ #2261), B.Sc., Consulting Geologist, from 3DGeo Solution Inc. are the independent qualified persons pursuant to the requirements of NI 43-101, and have reviewed and approved the technical content of this press release.
Cautionary Note Regarding Forward-Looking Statement
This news release may contain certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that PNPN expects to occur, including details related to the proposed spin-out transactions, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities, and results. Although PNPN believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals, and general economic, market, or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Power Nickel Inc.
News Provided by ACCESSWIRE via QuoteMedia

Power Nickel Inc. (the “Company” or “Power Nickel“) (TSXV:PNPN)(OTCBB:CMETF)(Frankfurt:IVVI) is pleased to announce that it has commenced drilling on its Nisk Project. As previously noted the Company has used a new 3D geological model to generate the targets for this exploration program. The 3D geological model developed by 3DGeo-Solution Inc. (“3DGS”) identified a prospective set of targets that the Company feels will give the best potential to expand the Nisk historical deposit
The resource estimates at the Nisk project are of historic nature and the Company’s geology team has not completed sufficient work to confirm a NI 43-101 compliant mineral resource. Therefore, caution is appropriate since these historic estimates cannot, and should not be relied on. For merely informational purposes see Table 1.
Table ‑1: Historical Resource Estimate figures for respective confidence categories at the NISK-1 deposit, After RSW Inc 2009: Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec.
The information regarding the NISK-1 deposit was derived from the technical report titled “Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec” dated December 2009. The key assumptions, parameters and methods used to prepare the mineral resource estimates described above are set out in the technical report.
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.
3DGS recommended an initial drill program of around 4000 metres covering approximately 15 holes ranging in depth from 80 metres to 500 metres. This drill program has now commenced. It is expected to be 4-5 weeks in duration with drill cores sent into assay labs once a week. We would expect initial assay results back in January. Following the drill program, 3DGS will be responsible to prepare the NI 43-101 compliant Mineral Resource Estimate and Technical Report.
Nisk has four distinct target areas covering over 7 Kilometres of strike length.
While Nickel Sulphate discoveries globally tend to come in clusters the focus of the initial Power Nickel campaign will be drilling on the Nisk Main target and the Nisk West target where the previous exploration had identified mineralized high-grade nickel zones. In the future, it is anticipated that Power Nickel will test the east and west “Wildcat Targets”. In the picture below we highlight some of the high-grade intercepts identified from the historical drilling on the project.
The picture below shows high-grade ore shoots identified from the Nickel-metal factor numerical model. The drill program will test these most prospective areas.
Company CEO and Director Mr. Terry Lynch stated, “We are excited to be drilling. It is rare to find a project with a historical resource with an almost 2% Nickel EQ (at current price Nickel, Copper, Cobalt and Palladium price curves- Oct 29, 2021) that we believe has a credible chance to become a mine. The electrification movement in Automobiles and Industry is growing more and more every day and this growth will be very supportive to the Nickel, Copper, Cobalt, and Palladium markets. We look forward to concentrating our efforts on NISK and moving it from Historical resource through the mine development process as quickly as possible. The drill program will take 4-5 weeks to complete and we would expect initial drill results in January, with the Mineral Resource Estimate and the NI43-101 technical report to be completed in Q1 or early Q2.”
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold and battery metal prospects in Canada and Chile.
On February 1, 2021 Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE:TSXV)
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.
Power Nickel (then called Chilean Metals) announced on June 8th, 2021 that an agreement has been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in total of 67 million ounces of gold, 569 million ounces of silver and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold, and plus/minus copper.
Power Nickel is 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, recently sold to a subsidiary of Teck resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3-million at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s first region.
Qualified Person
Matthew DeGasperis, Géo (OGQ #2261), B.Sc., Consulting Geologist, and Kenneth Williamson, Géo (OGQ #1490), M.Sc., Senior Consulting Geologist, from 3DGeo Solution Inc. are the qualified persons pursuant to the requirements of NI 43-101, and have reviewed and approved the technical content of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
Power Nickel Inc.
Terry Lynch, CEO
647-448-8044
For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Terry Lynch & CEO terry@powernickel.com
Cautionary Note Regarding Forward-Looking Statement
This news release may contain certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that PNPN expects to occur, including details related to the proposed spin out transactions, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although PNPN believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Power Nickel Inc.
News Provided by ACCESSWIRE via QuoteMedia

Power Nickel Inc. (the “Company” or “Power Nickel“) (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) is pleased to announce that it has received and approved a 3D Litho-Structural Report on the Nisk project in James Bay from 3DGeo-Solution Inc. (“3DGS”), an expert in 3D modeling and Mineral Resource Estimation. The report identified a prospective set of targets that is felt will give the best potential to expand the Nisk historical deposit
The resource estimates at the Nisk project are of historic nature and the Company’s geology team has not completed sufficient work to confirm a NI 43-101 compliant mineral resource. Therefore, caution is appropriate since these historic estimates cannot, and should not be relied on. For merely informational purposes see Table 1.
Table ‑1: Historical Resource Estimate figures for respective confidence categories at the NISK-1 deposit, After RSW Inc 2009: Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec.
The information regarding the NISK-1 deposit was derived from the technical report titled “Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec” dated December 2009. The key assumptions, parameters and methods used to prepare the mineral resource estimates described above are set out in the technical report.
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.
3DGS recommended an initial drill program of around 4000 metres covering approximately 15 holes ranging in depth from 80 metres to 500 metres. Following the drill program, 3DGSwill be responsible to prepare the NI 43-101 compliant Mineral Resource Estimate and Technical Report.
Nisk has four distinct target areas covering over 7 Kilometres of strike length.
While Nickel Sulphate discoveries globally tend to come in clusters the focus of the initial Power Nickel campaign will be drilling on the Nisk Main target and the Nisk West target where the previous exploration had identified mineralized high-grade nickel zones. In the future, it is anticipated that Power Nickel will test the east and west “Wildcat Targets”. In the picture below we highlight some of the high-grade intercepts identified from the historical drilling on the project.
The picture below shows high-grade ore shoots identified from the Nickel-metal factor numerical model. The drill program will test these most prospective areas.
It is anticipated that the drilling program will begin in early November and be about 4 weeks in duration. All drilling permits have been received and drilling contracts are in place.
Company CEO and Director Mr. Terry Lynch stated, “It is rare to find a project with a historical resource with an almost 2% Nickel EQ (at current price Nickel, Copper, Cobalt and Palladium price curves- Oct 29, 2021) that we believe has a credible chance to become a mine. The electrification movement in Automobiles and Industry is growing more and more every day and this growth will be very supportive to the Nickel, Copper, Cobalt, and Palladium markets. We look forward to concentrating our efforts on NISK and moving it from Historical resource through the mine development process as quickly as possible. We are excited about the 3D Model of the Nisk project and the 4,000 metre drill program we have outlined.”
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold and battery metal prospects in Canada and Chile.
On February 1, 2021 Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE:TSXV)
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.
Power Nickel (then called Chilean Metals) announced on June 8th, 2021 that an agreement has been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in a total of 67 million ounces of gold, 569 million ounces of silver, and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold, and plus/minus copper.
Power Nickel is the 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, recently sold to a subsidiary of Teck resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3-million at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s first region.
Qualified Person
Matthew DeGasperis, Géo (OGQ #2261), B.Sc., Consulting Geologist, and Kenneth Williamson, Géo (OGQ #1490), M.Sc., Senior Consulting Geologist, from 3DGeo Solution Inc. are the qualified persons pursuant to the requirements of NI 43-101, and have reviewed and approved the technical content of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
Power Nickel Inc.
Terry Lynch, CEO
647-448-8044
For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Terry Lynch & CEO terry@powernickel.com
Cautionary Note Regarding Forward-Looking Statement
This news release may contain certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that PNPN expects to occur, including details related to the proposed spin-out transactions, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although PNPN believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Power Nickel Inc.
News Provided by ACCESSWIRE via QuoteMedia

Summary:
Power Nickel Inc. (the “Company” or “Power Nickel“) (TSXV:PNPN, OTCBB: CMETF, Frankfurt IVVI) is pleased to announce that it will commence trading under its new symbol PNPN on the TSXV on July 12, 2021
Proposed Transaction Highlights
Chilean Metals has formally been renamed Power Nickel Inc. and will focus its efforts on the exploration and development of the James Bay Nisk project. On February 1, 2021, Chilean Metals completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corporation. The below estimates at the Nisk project are of a historic resource and the Company’s geology expert team has not completed sufficient work to confirm a NI 43-101 compliant resource. Therefore, caution is appropriate since the estimates cannot, and should not be relied upon. For merely informational purposes see Table 1.
Table ‑1: Historical Resource Estimate figures for respective confidence categories at the NISK-1 deposit, After RSW Inc 2009: Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec.
The information regarding the NISK-1 deposit was derived from the technical report titled “Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec” dated December 2009. The key assumptions, parameters and methods used to prepare the mineral resource estimates described above are set out in the technical report.
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts outside the current resource area. Power Nickel, formerly Chilean is focused on expanding its current high-grade nickel-copper PGE mineralization historical resource prepared in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.
Company CEO and Director Mr. Terry Lynch stated, “The result of this proposed transaction will be two stand-alone companies with attractive assets focused on specific opportunities to grow and create value for their shareholders. The driving force behind the change is to communicate in a very clear way our shift in primary focus on the NISK Battery Metals project. It is rare to find a project with a historical resource that we believe has a credible chance to become a mine. The electrification movement in Automobiles and Industry is growing more and more every day and this growth will be very supportive to the price curves in Nickel, Copper, Cobalt, and Palladium. We look forward to concentrating our efforts on NISK and moving it from Historical resource through the mine development process as quickly as possible. We are currently evaluating a newly prepared 3D Model of the NISK project and will finalize our drilling program in the next week and announce a Q3 start of an expected 3-4,000 metre drill program. We would expect after this round of drilling to have a revised 43-101 available in Q4 2021.”
Board and Management Team
Power Nickel will feature the same board as Chilean Metals today.
Consolidation Gold and Copper Inc. will have the same board with the valuable addition of Hugh Maddin to the Board. Hugh Maddin is a distinguished and accomplished retired lawyer and an experienced mining investor. Hugh Maddin owns Granby Gold, from whom Chilean Metals purchased the Golden Ivan project in 2020.
Transaction Details
The proposed transactions will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and are subject to a number of conditions being satisfied or waived at or prior to closing, including approval of the shareholders of Power Nickel and receipt of all necessary regulatory, TSXV and court approvals and the satisfaction of certain other closing conditions customary for a transaction of this nature.
It is expected that the required special meeting of Chilean Metals shareholders to approve the proposed Transaction will be held in August 2021 with closing shortly thereafter. The Company continues to plan the final structure to address regulatory, accounting, tax, corporate, and securities matters in Canada, the United States (where Chilean, now Power Nickel has some resident shareholders) and Chile, where certain assets, as well as shareholders, are located
Further information regarding the transactions will be contained in a management information circular to be prepared by the Company and mailed to shareholders in connection with an annual general and special meeting of shareholders to consider the transactions. All shareholders of the Company are urged to read the information circular once available, as it will contain important additional information concerning the transactions.
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Canada and Chile.
On February 1, 2021 Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project.
The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts outside the current resource area. Chilean is focused on expanding its current high-grade nickel-copper PGE mineralization historical resource prepared in accordance with NI 43-101, identifying additional high-grade mineralization and developing a process to potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry.
Power Nickel (then called Chilean Metals) announced on June 8th, 2021 that an agreement has been made to complete the 1oo% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in a total of 67 million ounces of gold, 569 million ounces of silver, and 27 billion pounds of copper. This property hosts two known mineral showings (gold ore and magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold, and plus/minus copper.
Power Nickel, pre proposed Plan of Arrangement is the 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit, recently sold to a subsidiary of Teck resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3-million at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s first region.
Qualified Person
Qualified Person Luke van der Meer, P.Geo. (Licence # 37848), Independent Geological Consultant, Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Power Nickel Inc.
Terry Lynch, CEO
647-448-8044
For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Terry Lynch & CEO terry@powernickel.com
Cautionary Note Regarding Forward-Looking Statement
This news release may contain certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical fact, that address events or developments that PNPN expects to occur, including details related to the proposed spin-out transactions, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although PNPN believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
[1] Reference to the nearby Candelaria mine is for information purposes only and there are no assurances that the Company’s properties will achieve similar results.
[2] Reference to the nearby Quebrada Blanca mine is for information purposes only and there are no assurances that the Company’s properties will achieve similar results.
[3] Reference to the nearby Premier Gold mine is for information purposes only and there are no assurances that the Company’s properties will achieve similar results.
[4] Reference to these nearby properties is for information purposes only and there are no assurances that the Company’s properties will achieve similar results.
[5] Reference to the nearby Bruce Jack mine is for information purposes only and there are no assurances that the Company’s properties will achieve similar results.
SOURCE: Chilean Metals, Inc.
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Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) (“Los Andes” or the “Company”) announces that on March 18, 2022, the Second Environmental Court decreed a preliminary injunction to suspend the effects of Resolution No. 14 of 2021, environmental licence of the Minera Vizcachitas drilling project. In response to the Court Order the company has initiated the process of safety suspending the drilling operations.
The Court order relates to the potential impact to the vizcachas (a small rabbit) habitat, which is part of the food chain of the Andean Cat, a protected species. The Company will ask for upliftment or review of the order of March 18, 2022 so that its planned 18,000 meter drill campaign can continue in accordance with its granted permits. Approximately 6,600 meters of the program have been completed and 5,400 meters of assays for grade are in progress currently. The Company firmly believes that our project does not cause or will not cause direct impact to the vizcachas – as already assessed in the environmental assessment process that led to our current environmental licence – and therefore does not and will not pose a threat to Andean Cat habitat. The Company will prepare the necessary information to prove adequate measures have been taken and will be taken before the Environmental Court, and thus it should be permitted to continue with the authorized works and activities.
We reiterate our full commitment to fulfill all of our environmental obligations. Los Andes Copper complies and has complied with each of the resolutions and indications of the administrative, supervisory and judicial authorities, in addition to having carried out extensive public participation processes. We continue to engage with all interested parties in a climate of mutual respect.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
The Project is a copper-molybdenum porphyry deposit, located 120 kilometres north of Santiago, in an area of very good infrastructure. The Company’s Preliminary Economic Assessment (the “PEA”), delivered in June 2019, highlights that the Project has a post tax NPV of $1.8 billion and an IRR of 20.77%, based on a $3 per pound copper price. It also has a Measured Resources of 254.4 million tonnes having a grade of 0.439% copper and Indicated Resource of approximately 1.03 billion tonnes having a grade of 0.385% copper. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the technical report dated June 13, 2019, with an effective date of May 10, 2019 and titled “Preliminary Economic Assessment of the Vizcachitas Project”, prepared by Tetra Tech.
The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Qualified Person (“QP”) and Quality Control and Assurance
Antony Amberg CGeol FGS, the Company’s Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release. The QP has validated the data by, supervising the sample collection process, through chain of custody records and inspecting the detailed technical data and quality control and assurance information.
For more information please contact:
R. Michael Jones , P.Eng CEO
rmj@losandescopper.com
Tel: +44 203 4407982
BlytheRay, Financial PR
Megan Ray
Rachael Brooks
Tel: +44 207 138 3203
E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
Follow us on Twitter @LosAndesCopper
Follow us on LinkedIn Los Andes Copper Ltd
Certain of the information and statements contained herein that are not historical facts, constitute “forward-looking information” within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) (“Forward-Looking Information”). Forward-Looking Information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”; statements that an event or result is “due” on or “may”, “will”, “should”, “could”, or might” occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, Spinnaker’s ability to raise capital, target and attract institutional and retail investors and focus on developing and expanding the network of investors, analysts and financial intermediaries who are interested in Los Andes. Such Forward-Looking Information is based upon the Company’s assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company’s production. Among the factors that have a direct bearing on the Company’s future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117477

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Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) (“Lion CG”, or the “Company”) is pleased to announce it has entered into an Option to Earn-in Agreement with Rio Tinto America Inc. (“Rio Tinto”) to advance studies and exploration at Lion CG’s copper assets in Mason Valley, Nevada.
Under the agreement, Rio Tinto has the option to earn a 65% interest in the assets, comprising 34,494 acres of land, including the historic Yerington mine, greenfield MacArthur Project, Wassuk property, the Bear deposit, and associated water rights (the “Mining Assets“). In addition, Rio Tinto will evaluate the potential commercial deployment of its NutonTM technologies at the site. NutonTM offers copper heap leaching technologies developed by Rio Tinto to deliver greater copper recovery from mined ore and access new sources of copper such as low-grade sulphide resources and reprocessing of stockpiles and mineralised waste. The technologies have the potential to deliver leading environmental performance through more efficient water usage, lower carbon emissions, and the ability to reclaim mine sites by reprocessing waste.
Lion CG CEO, Travis Naugle said, “We are pleased to have entered into this agreement with a leading global mining and metals company in Rio Tinto. The agreement offers the potential to both increase the scope and scale of our development and accelerate the path to first production. As stewards of significant copper resources and water rights in the State of Nevada, we recognize our role in a sustainable and circular economy. Should Rio Tinto exercise its earn-in option, we are confident that it will bring its own level of quality to progress the development of the Mining Assets towards becoming a strategic domestic copper producer with the highest ESG standards and performance. We look forward to continuing to advance the MacArthur Project and our other Mason Valley assets through constructive relationships with Rio Tinto, the local community, Native American Tribes, the State of Nevada and other valued stakeholders.”
Rio Tinto Copper Chief Executive, Bold Baatar said, “This Agreement will allow us to explore the potential commercial deployment of our NutonTM copper leaching technologies in a historical mining district with a large copper endowment. These technologies not only offer Rio Tinto the potential to unlock additional copper, but to also deliver low carbon production with significant environmental benefits through reprocessing old stockpiles and tailings, and reducing waste from new and ongoing operations.”
Key Points of the Agreement
Rio Tinto will have the exclusive option to acquire a 65% interest in Lion CG’s mining assets in Mason Valley, Nevada. The Company holds a strategic 34,494-acre land position in Mason Valley, which contains the MacArthur Copper Project with mineralization open in most directions, the legacy Yerington mine, the Bear deposit, land positioning immediately east of the Ann Mason deposit, land positioning to the north of the Pumpkin Hollow mine, water rights, and approximately twenty high priority exploration targets dispersed across the Company’s land package.
In addition to advancing the MacArthur Copper Project on the basis of the recently-announced mineral resource estimate (news release dated January 13, 2022), the Company also intends to focus on resource growth by evaluating an integrated approach to expansion across the Company’s asset base and land package. The NutonTM technology offers the potential to economically unlock low-grade sulphide resources, copper bearing waste and tailings, and achieve higher copper recoveries on oxide and transitional material, allowing for a significantly increased copper production outcome with a very low corresponding carbon footprint.
Stage 1
Stage 2
Stages 1 and 2 may be accelerated at Rio Tinto’s option.
Stage 3 – Feasibility Study
Investment Decision
Project Financing
The Agreement is subject to the acceptance of the TSX Venture Exchange.
About Lion CG
Lion Copper and Gold Corp. is a Canadian-based company advancing its flagship MacArthur Copper Project in Mason Valley, Nevada, in addition to advancing its exploration projects including the Chaco Bear and Ashton properties in highly prospective regions in British Columbia, Canada, and the Blue Copper Project in Montana, USA.
About Rio Tinto
Rio Tinto is a mining and metals company operating in 35 countries around the world that produces the materials essential to human progress. It aims to help pioneer a more sustainable future, from partnering in the development of technology that can make the aluminum smelting process entirely free of direct GHG emissions, to providing the world with the materials it needs – such as copper and titanium – to build a new low-carbon economy and products like electric vehicles and smartphones.
About NutonTM
NutonTM is an innovative new venture that aims to help grow Rio Tinto’s copper business. At the core of NutonTM is a portfolio of proprietary copper leach related technologies and capability – a product of almost 30 years of research and development. The NutonTM technology offers the potential to economically unlock known low-grade copper sulphide resources, copper bearing waste and tailings, and achieve higher copper recoveries on oxide and transitional material, allowing for a significantly increased copper production outcome. One of the key differentiators of NutonTM is the potential to deliver leading environmental performance, including more efficient water usage, lower carbon emissions, and the ability to reclaim mine sites by reprocessing mine waste.
On behalf of the Board of Directors,
Stephen Goodman
President
For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057
Email: info@lioncg.com
Website: www.lioncg.com
Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117410

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Magna Mining Inc (TSXV: NICU) (the “Company”) is pleased to announce that it has commissioned a second drill rig to accelerate exploration drilling at previously identified regional targets on the Shakespeare Nickel Project. The second rig was moved to site early this month, and recently began drilling at the Company’s Spanish River Mine Option (“Spanish River”), located 1km south-west of the recent P-4 nickel discovery (see Fig. 1). Spanish River was previously in production as an underground Cu-Co-Au-Ag operation until 1970, and the current drill program is the first diamond drilling program since the mine closed.
The first drill rig of the 2022 drill program started in January and is currently drilling the P-4 Nickel target, which was discovered during the 2021 regional exploration drill program (see News Release). This drill is planning to complete an initial 2500m of drilling to further test the EM plate associated with the discovery hole, as well as the prospective trend of over 400m of strike length to the east. The Company expects this drilling to be completed in early April, with assay results coming out later that month. Magna is planning to complete 10,000m of drilling in 2022, with 5500 m still to be allocated based on results from the winter drilling program.
UPDATES ON THE EVALUATION OF NEAR-TERM NICKEL PRODUCTION VIA TOLL MILLING
Ongoing discussions with Sudbury mill owners have been positive, and Magna has decided to accelerate the evaluation of the toll milling of Shakespeare ore to better understand the potential economics. Once the current drilling is completed at Spanish River (within 2-3 weeks), the second rig will be prioritized to extract representative metallurgical core samples from the Shakespeare deposit. These samples will be used to determine the recoveries and payable terms from mills in the region, which will support the evaluation of the near-term restart of toll milling. The Shakespeare Mine was previously in commercial production from 2010 to 2012 via toll milling, and a total of approximately 490,000 tonnes of ore was sent to the Strathcona Mill in Sudbury for processing.
Magna Mining CEO Jason Jessup commented: “Given the recent moves in nickel and copper prices, we have decided to accelerate the studies associated with restarting production via toll milling. Nickel, copper and palladium prices have seen record highs recently and there is potentially a healthy margin associated with the near-term production of Shakespeare ore through a third-party mill. Given that major permits for production remain in place, we feel Magna is uniquely positioned to take advantage of the current metal price environment. We remain focused on our three pillars of growth: development of the Shakespeare open pit mine, mill and tailing facility, resource growth through exploration and executing accretive acquisitions of Sudbury nickel projects that have synergies with Shakespeare. The potential cash flows from toll milling could contribute meaningfully to all three of these growth initiatives.”
ABOUT THE SPANISH RIVER MINE OPTION
Magna has an option to acquire 100% of the past-producing Spanish River Mine over a three-year term comprising exploration expenditures, cash and share payments. Once the option terms have been satisfied, the vendor will retain a 1.5% NSR royalty which 0.75% (50%) can be purchased by Magna for $1,000,000. Spanish River is adjacent to Magna’s 100% owned Shakespeare Project, located approximately 5 km from the Shakespeare Mine and has potential to be an additional source of feed for a future Shakespeare mill.
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Figure 1: Spanish River exploration target showing lithologies and the deformation corridor

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Image 1: Mineralized deformation corridor and surface excavation from past producing Spanish River underground mine, located 1km south-west of Magna Mining‘s P-4 nickel discovery

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Qualified Person
The technical information in this press release has been reviewed and approved by Mynyr Hoxha, Ph.D., P.Geo., the Company’s Vice President of Exploration. Dr. Hoxha is a qualified person under Canadian National Instrument 43-101.
About Magna Mining Inc.
Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company’s flagship asset is the past producing Shakespeare Mine which has major permits for the construction of a 4,500 tonnes per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Additional information about the Company is available on SEDAR (www.sedar.com) and on the Company’s website (www.magnamining.com).
For further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
Email: info@magnamining.com
Cautionary Statement
This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company’s control, including statements regarding the production at the Shakespeare Mine, the economic and operational potential of the Shakespeare Mine, potential acquisitions, plans to complete exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations, or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117440

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The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,783.04 in the early morning last Friday (March 17). It closed the five day period slightly higher at 21,831.52.
The index moved upwards for most of the week as investors awaited the US Federal Reserve’s latest decision on monetary policy. The central bank approved the first interest rate hike in over three years on Wednesday (March 16), increasing rates by a quarter percentage point.

Looking over to metals, gold and silver pulled back as demand for safe-haven assets eased and a stronger US dollar made buying precious metals more expensive for investors using other currencies.
Last week, a number of companies saw their share prices increase during the trading period. The five TSX-listed mining stocks that saw the biggest gains are as follows:
Here’s a look at those companies and the factors that moved their share prices last week.
Turquoise Hill Resources describes the Mongolia-based Oyu Tolgoi copper-gold mine as its “principal and only material mineral resource property.” The company shares ownership of Oyu Tolgoi with a Mongolian state-owned entity, with both of them holding stakes in a firm called Oyu Tolgoi LLC.
Last Monday (March 14), Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) made a non-binding proposal to acquire all the shares of Turquoise Hill that it does not already own. At a C$34 per share acquisition price, the proposed deal values Turquoise Hill’s minority shareholdings at US$2.7 billion. However, the largest minority shareholder of the TSX-listed company, Pentwater Capital, has come forward to say the bid is too low.
Following the news, shares of Turquoise Hill increased 39.76 percent to trade at C$35.89 by the end of the week.
International energy company Kolibri Global Energy aims to find and exploit projects centered on oil, gas and clean and sustainable energy. Its properties are located in the US, and the company operates them via its subsidiaries.
Last Thursday (March 17), Kolibri provided an update on one of its wells, Barnes 7-3H, which is already producing 400 barrels a day of oil at restricted production rates. Its shares increased 23.08 percent to end at C$0.16.

Entree Resources owns what it calls a “unique carried joint venture interest” on part of the Oyu Tolgoi mine.
According to the company, the asset consists of two land holdings, one of which is the Oyu Tolgoi mining license, and the second of which is the Entree/Oyu Tolgoi joint venture property. The mining license is held by Oyu Tolgoi LLC, and the joint venture is a partnership between Entree and Oyu Tolgoi LLC. Entree has a 20 percent or 30 percent carried participating interest in the Entree/Oyu Tolgoi joint venture, depending on mineralization depth.
Sandstorm Gold (TSX:SSL,NYSE:SAND), Rio Tinto and Turquoise Hill are major shareholders of Entree, holding approximately 23 percent, 9 percent and 8 percent of the shares of the company, respectively.
Over last week’s five day period, shares of Entree increased 20.88 percent to end at C$1.10.
Precious metals company Steppe Gold, an exploration and development company with gold and silver projects in Mongolia, also made the list this week. The company wholly owns the ATO project, which is fully commissioned, permitted and in production. Despite not releasing news last week, Steppe Gold rose 33.85 percent to hit C$14.38.
Calgary-based Perpetual Energy is focused on oil and gas production and exploration. The company’s assets include liquids-rich conventional natural gas, heavy crude oil and shallow and undeveloped bitumen leases.
Last Tuesday (March 15), Perpetual Energy published its yearly financial and operational results. Its share price increased 12.05 percent over the five day period to trade at C$0.93 by the end of the week.
Data for 5 Top Weekly TSX Performers articles is retrieved each Friday at 10:30 a.m. EST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.
Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Steppe Gold is a client of the Investing News Network. This article is not paid-for content.
 Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) (“Lion CG” or the “Company”) is pleased to announce that it has closed its previously announced option agreement (the “Agreement”) with Houston Minerals Ltd. (“Houston”) pursuant to which Houston agreed to grant to the Company the option (the “Option”) to acquire a 100% interest in the Chaco Bear Property and the Ashton Property which are located in British Columbia (collectively, the “Properties”).
On closing of the Agreement, Lion CG issued 8,000,000 common shares of the Company to Houston and has funded an initial work program of $200,000 on the Properties in consideration for the grant of the Option. The Company may exercise the Option for a period of up to ten years to acquire (i) the Chaco Bear property by paying $1,500,000 to Houston, in cash or in common shares of the Company at the Company’s option; and/or (ii) the Ashton Property by paying $1,000,000 to Houston in cash or in common shares of the Company at the Company’s option, and in either case common shares will be valued using the volume weighted average trading price of the Company’s common shares for the twenty trading day period ending three trading days prior to the date of issuance of such Lion CG shares, with such cash payments being subject to a discount of between 5% and 15% based on the timing of exercise and cumulative exploration expenditures incurred as at the time of exercise. Houston will retain a 2.5% net smelter returns royalty on any of the Properties for which an Option has been exercised by the Company.
The Chaco Bear Property is located in northern British Columbia, within the Stikine Terrane and hosted in similar rock formations as the Eskay Creek deposit, a precious metals volcanogenic massive sulphide (VMS) deposit in the Golden Triangle of British Columbia that was in production from 1994 to 2008.
The Ashton Property is located within the Spences Bridge Group, a narrow, northwest-trending belt of early cretaceous volcanic rocks covering nearly 3,200 square kilometers from Princeton to Lillooet in British Columbia that are highly prospective for epithermal style gold mineralization.
For further information on the Properties and the Agreement, see the Company’s prior news releases dated October 21, 2021, January 31, 2022, and March 16, 2022.
About Lion CG
Lion Copper and Gold Corp. is a Canadian-based company advancing its flagship MacArthur Copper Project in Mason Valley, Nevada, in addition to advancing its exploration projects including the Chaco Bear and Ashton properties in highly prospective regions in British Columbia, Canada, and the Blue Copper Project in Montana, USA.
Further information can be found at www.lioncg.com.
On behalf of the Board of Directors,
Stephen Goodman
President
For more information please contact
Karen Robertson
Corporate Communications
778-898-0057
Email: info@lioncg.com
Website: www.lioncg.com
Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117335

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Pentwater Capital Management LP (” Pentwater “), the largest minority shareholder of Turquoise Hill Resources Ltd. (” Turquoise Hill ” or the ” Company “) (TSX:TRQ) (NYSE:TRQ), has delivered the attached letter to the Turquoise Hill Independent Directors:
Dear Independent Directors:
Would you agree to sell your house to your corrupt banker for less than the equivalent of one and a half years of rental income? That is what Rio Tinto is asking you to do.
Rio has offered to purchase the shares of Turquoise Hill it does not own for $2.65 billion. Based upon current gold prices of $1,945 per ounce and current copper prices of $4.65 per pound, we believe that Turquoise Hill will generate over $17 billion of after-tax free cash flow between 2025 and 2030 1 :
Year
Free Cash Flow
Minority Shareholder Free Cash Flow
2025
$1.732 billion
$844 million
2026
$1.772 billion
$868 million
2027
$2.944 billion
$1.442 billion
2028
$4.070 billion
$1.994 billion
2029
$3.713 billion
$1.819 billion
2030
$2.895 billion
$1.418 billion
This means that Rio’s current offer to the Board of Turquoise Hill is 32% of the amount of free cash flow that Turquoise Hill will generate between 2025 and 2030. Rio’s offer is also equivalent to less than 17 months of after-tax free cash flow between 2028 and 2029 for an asset that has a 70 year mine life.
In Pentwater’s opinion, the only reason that Turquoise Hill’s share price has traded below Rio’s offer price is because Rio has consistently taken actions to harm Turquoise Hill minority shareholders over the past decade. It was just two months ago that Rio forced Turquoise Hill to take a $2.4 billion debt write-down for reparations to the government of Mongolia as a result of Rio’s intentional concealment of cost overruns and schedule delays. At the same time, Rio forced Turquoise Hill to agree to raise $650 million of equity when debt could have easily been raised to avoid any equity dilution.
Rio’s oppressive actions have all been taken with the goal of enriching itself to the detriment of Turquoise Hill minority shareholders. That is why Canaccord Genuity wrote this week that “[w]e view this C$34.00/sh bid by RIO as an opportunistic low-ball offer post-de-risking the project… and ~12 months out from first production.”
However, now Rio’s scheme is apparent for all shareholders to see. Rio is in possession of non-public information, and it wants to use that non-public information to buy out Turquoise Hill at a fraction of the value of what the shares are worth. In Pentwater’s opinion, it is highly improbable that Rio will be successful at its current bid price and equally improbable that Turquoise Hill shares will ever fall back to the levels they traded at prior to Rio’s offer now that Rio’s true intentions are known.
Pentwater agrees with Sailingstone’s open letter from two days ago. Rio paid $63.70 per share for its existing stake in Turquoise Hill. If Rio believes that its current $26.90 proposal is, “compelling for Turquoise Hill shareholders,” Pentwater would be pleased to purchase part of Rio Tinto’s stake in Turquoise Hill for that price.
Kindest Regards,
Matthew C. Halbower
Chief Executive Officer
Pentwater Capital Management
1 These figures are based upon OT’s most recent Technical Report combined with recent management guidance.  If Turquoise Hill disagrees with these projections, we believe that Turquoise Hill should state what it believes after tax free cash flow will be between 2022 and 2035 while disclosing its copper and gold price assumptions.


View source version on businesswire.com: https://www.businesswire.com/news/home/20220318005077/en/
David Zirin- Chief Operating Officer
Pentwater Capital Management
312-589-6401
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