TORONTO, July 21, 2020 /CNW/ - Nickel Creek Platinum Corp.
(TSX: NCP) ("Nickel Creek" or the "Company") is
pleased to announce the plans for the 2020 field program at its
100%-owned Nickel Shäw Project (the "Project") in the
Yukon, Canada.
Following successful completion of the recent C$3.625 million private placement, which included
a Flow-Through Offering of C$1.425
million, the Company has secured the necessary funding
required to perform an exploration drill and Electromagnetic (EM)
geophysics program at its nickel – copper – PGM project. The
program is expected to commence in August
2020.
Diane Garrett, President and CEO
commented, "We truly appreciate our shareholders for continuing to
support the Company to advance work on the targets identified
through last year's geophysics program. The large nickel – copper –
PGM resource at the Wellgreen Deposit contains the fundamental
metals needed for the Electric Vehicle (EV) revolution in
transportation and energy storage."
The Nickel Shäw Project is well advanced in terms
of the Company's understanding of its geology, metallurgy and
engineering requirements. The metallurgical work successfully
produced a salable bulk concentrate, and salable separate nickel
and copper concentrates. Not unlike other large nickel sulfide
projects, the Project requires higher commodity prices
to justify development in the current macro-economic environment.
The main deposit which spans nearly two kilometres in strike has
significant upside potential. During 2019, the team, together with
independent nickel expert, Mr. Cam
Bell (see news release dated August
2, 2019), carried out a comprehensive and systematic review
of the entire property (20 km in strike) in search of additional
targets with higher grade, massive sulfide mineralization
potential. This work involved a ground-based EM geophysics program
over the adjacent Quill target area. The program was conducted by
SJ Geophysics Ltd. of Delta, BC,
Canada.
On December 18, 2019, the Company
announced the results of its geophysics program on the Quill
exploration target area, which is adjacent to the main resource,
but within the Nickel Shäw project land package. The results of the
geophysics program, which was designed to target areas of massive
sulfides, identified several strong conductors. The Company has
identified two main target areas for drill testing that are shown
in Figure 1 below.
The Company has planned a 1,200 metre drill program to be
conducted by Atlas Drilling Ltd. of Kamloops, BC, Canada. In addition, due to the success of the
EM geophysics program in 2019 on the Quill area, the Company also
intends to conduct an EM program on the Arch and Burwash areas east
and west of the main deposit area. Geologic mapping and surface
sampling are also planned for near surface targets identified in
the EM survey. SJ Geophysics Ltd. will be conducting the EM
program.
COVID-19
In preparation for the 2020 field program, the Company is
closely monitoring updates related to COVID-19 and will be
following all territorial and federal guidelines imposed. The
safety and well-being of our employees, contractors, consultants
and the local community are our highest priority. The Company
has implemented a COVID-19 policy which will become part of the
safety training and procedures at site.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) is a
Canadian mining exploration and development company and its
flagship asset is its 100%-owned Nickel Shäw Project. The Project
is a large undeveloped nickel sulfide project in one of the most
favourable jurisdictions in the world, with a unique mix of metals
including copper, cobalt and platinum group metals. The Project has
exceptional access to infrastructure and is located three hours
west of Whitehorse via the paved
Alaska Highway, which further
offers year-round access to deep-sea shipping ports in southern
Alaska. The Company is also
investigating other opportunities for shareholder value
creation.
The Company is led by a management team with a proven track
record of successful discovery, development, financing and
operation of large-scale projects. Our vision is to create value
for our shareholders by becoming a leading North American nickel,
copper, cobalt and PGM producer.
Scientific and Technical Information
The scientific and technical information disclosed in this news
release was reviewed and approved by James
Berry, Nickel Creek's Chief Geologist and a "Qualified
Person" as defined in National Instrument 43-101 – Standards of
Disclosure for Mineral Projects.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain information that may be
deemed "forward-looking information". Forward-looking information
can generally be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "believe",
"continue", "plans" or similar terminology, or negative
connotations thereof. All information in this release, other than
information of historical facts, including, without limitation,
statements with respect to the Company's 2019 and 2020 exploration,
drilling, geophysics and sampling programs (and the results and
potential results thereof), and general future plans and objectives
for the Company and the Project, are forward-looking information
that involve various risks and uncertainties. Although the Company
believes that the expectations expressed in such forward-looking
information are based on reasonable assumptions, such expectations
are not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking information.
For more information on the Company and the key assumptions,
risks and challenges with respect to the forward-looking
information discussed herein, and about our business in general,
investors should review the Company's most recently filed annual
information form, and other continuous disclosure filings which are
available at www.sedar.com. Readers are cautioned not to place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Nickel Creek Platinum Corp.