As reported on July 8, 2021, Nickel Rock sold an 80% equity option on certain mining claims of the Hard Nickel 4 and Nickel 100 exploration project to Surge Battery Metals (TSXV: NILI) in order to focus on its exploration efforts on the claims of the Nickel group directly adjacent to the FPX Nickel Corp. nickel deposit. (TSXV: FPX) Baptiste. The option transaction remains subject to the approval of the TSX Venture Exchange.
At September 3, 2021, the Company announced (press release) that it had completed the second phase of its initial exploration program on its Nickel exploration claims located in the north British Columbia, Canada. The BC Nickel Exploration Project (the “Project”) consists of four groups of non-contiguous mineral claims held by Nickel Rock Resources Inc. under three separate agreements. The project at the exploration stage is located in the Lac Trembleur region of the center British Columbia, partially adjacent to FPX Nickel Corp.’s Decar Nickel project, which is an advanced project targeting awaruite, a nickel-iron alloy ore, hosted by serpentinized ultramafic intrusive rocks of the Trembleur ultramafic unit.
About the Nickel project
The claims in question are based in part on rocks such as those that host FPX Nickel’s Decar project, where mineralization includes nickel, cobalt and chromium. Previous exploration suggests that at least some of the nickel mineralization occurs as awaruite, a naturally occurring nickel-iron alloy important in making environmentally friendly batteries for electric vehicle markets globally. The mineral awaruite is both highly magnetic and very dense and therefore lends itself to concentration by mechanical processes including magnetic and gravity separation. This style of deposit is unique and has considerable advantages in terms of reduced metallurgical and processing costs.
Significantly, the awaruite found is found in serpentinized ultramafic rock. In 2018, G. Dipple at University of British Columbia began the Geoscience BC-funded research project “Assessment of Carbon Mineralization Potential for British Columbia” which is expected to be completed in early 2021. At the end of 2020, a preliminary assessment report was released. One of the key elements of the report was “The use of reactive serpentinite tailings from nickel mining as a carbon sink has the potential to make nickel mining carbon neutral or a net carbon sink.“The presence of serpentinized ultramafic rocks has been documented on several occasions in the areas covered by the claims of the Nickel Rock projects, as well as at the Decar project of FPX Nickel Corp. (Dipple, G. et.al., Geoscience BC Report 2020 -15).
The company found that the spot price of nickel was in a steadily rising trend as global inventories were falling and electric vehicle manufacturers demanded more nickel supplies as the quantities of nickel increase in the markets. batteries as they increase the amount of charge in a battery. can hold, allowing electric vehicles to travel greater distances. One of those companies is Tesla Inc., the world’s leading manufacturer of electric vehicles. Founder of Tesla, Elon musk, said a big deal would be signed if a company could produce nickel with a reduced carbon footprint using more environmentally friendly mining methods (Reuters: September 11, 2020). Robert setter, comments from the President and CEO of the company “Elon musk The comments made waves in the nickel space and several juniors took advantage of his comments and increased their value 2-3 times. “
Robert setter, President and CEO of the company continues: “We are very satisfied with the results of our initial exploration program on the group of Hard Nickel and Nickel 100 claims and more particularly with the work carried out during phase 2 of this initial exploration program. So far we have recorded a few relatively high Ni readings measured via portable XRF on the Nickel S block, as mentioned in our news from June 28, 2021, and our geological team suspects that these ultramafic rocks have the potential to host awaruite mineralization. This second phase of exploration includes both soil and rock sampling, drafting of technical reports, mapping and analysis work, the rest of the work to be carried out on trenches, geological surveys, geochemical and geophysical. “
Summary of the company’s 2021 work program
The Company currently has sufficient funds in its treasury to fully fund its proposed work program for 2021 and its remaining working capital requirements for 2021 and 2022.
The proposed work program includes trenching, surface exploration, diamond drilling, camp construction and exploration activities to support drilling and trenching, such as soil sampling, l ‘rock sampling, prospecting and geological mapping. The company is proposing a 12-man camp to be built in a circus on the northern slope of the unnamed mountain to the west and next to Mount Sydney Williams, and will be built next to a subalpine lake at the source of Van Decar Creek. The location of the camp was chosen based on the old exploration camps there and is suitable to support exploration. The camp will be used to accommodate field staff and will be accessible by helicopter. The work program is managed by Jeremy Hansen, P. Geol. and Hardline Exploration Corp.
The Company estimates that this 2021 work program includes a total of $ 600,000 in exploration expenses.
Jacques Houle, P.Eng., A Qualified Person as defined by NI 43 – 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the FPX Nickel Corp property is not necessarily indicative of mineralization on the property of interest.
About Nickel Rock Resources Inc. www.nickelrockresources.com
The Company is a Canadian mining exploration company active in the exploration of nickel-iron alloys in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canada-based exploration company primarily listed on the TSX Venture Exchange. The Company continues to focus on exploring high value battery metals required for the electric vehicle (EV) market.
About the Clayton Valley Nevada Lithium Project
The Company owns 100% of 77 alluvial lithium claims covering over 640 hectares in the Clayton Valley. Clayton Valley is a lowered closed basin formed by the extension of the Miocene Age Grand Basin and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved several layers of lithium-containing volcanic ash, resulting from several eruptive events over the past 6 million years, including 700,000-year-old eruptions. Long Valley Caldera system and associated events. These ash layers are believed to contribute to the lithium brines mined by Albemarle and are also likely involved in the formation of the lithium-rich clay deposits exposed on the east side of the Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/
About the British Columbia and Canadian Nickel Projects
The Mount Sidney Williams group consists of five claim blocks divided into four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjacent to and in close proximity to the FPX Nickel Corp Decar project. ., located 100 kilometers northwest of Fort St. James, BC, in the mining division of Omineca. Metal mineralization includes nickel, cobalt and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consists of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt and chromium. The nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The Company sold an 80% equity option on certain mining concessions of the Hard Nickel 4 and Nickel 100 exploration project to Surge Battery Metals Inc. (TSXV: NILI). The transaction is subject to the approval of the Exchange.
The Company has entered into an option agreement to acquire a 100% interest, subject to a 2% NSR, in 6 mining claims (Funk claims) located approximately 15 km west of Mount Sydney Williams near Fort st james, BEFORE CHRIST.
The Company has also entered into an option agreement under which the Company may acquire a 100% undivided interest in the Klone group of mining concessions (1,400 ha) adjoining the property of FPX Nickel Corp (TSXV: FPX) located at 100 km northwest of Fort St. James BC in the Omineca Mining division.
The Company has also entered into an option
On behalf of the board of directors
Robert setter, President and CEO
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. This press release may contain forward-looking statements that include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. With the exception of statements of historical fact, comments which address resource potential, upcoming work programs, geological interpretations, receipt and security of mining title, availability of funds and others. are forward looking. Forward-looking statements are not guarantees of future performance and actual results may differ materially from such statements. General business conditions are factors that could cause the actual results of forward-looking statements to vary materially.
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Nickel Rock Resources Inc.
1220 – 789 Pender Street West
Vancouver, BC, Canada V6C 1H2
SOURCE Nickel Rock Resources Inc.