(Image via Tartisan Nickel Corp. Click to enlarge.)
Nickel prices have been enjoying a healthy run in the summer of 2020, trading around $14,000 per tonne this week, up more than 30% from March lows and sitting near its highest levels from November 2019.
Given Tesla’s Elon Musk ask for mining companies to get more nickel, its price could trend even higher ….
Everything from electric vehicle batteries to laptop and other personal electronic devices need this metal and Ontario is a
hotbed for this resource’s development. According to government data, exports of nickel and nickel-based products in 2018 were valued at $4.2 billion and Canada ranked fifth in the world for mine production and to produce refined nickel, with Ontario at the top producing 37.4%.
Canadian-based mineral exploration and development Company
Tartisan Nickel Corp. (CSE: TN, OTC: TTSRF, FSE: A2D, Forum) owns the Kenbridge Nickel-Copper-Cobalt Project in northwestern Ontario and recently reviewed and re-estimated its historic NI 43-101 compliant Technical Report and Updated Mineral Resource Estimate for this asset.
What this means:
Located in the Atikwa Lake area, in the Kenora - Fort Frances region, with good access to roads and power, updated Mineral Resource Estimate (MRE) estimates were done for pit constrained and out-of-pit nickel, copper, and cobalt Mineral Resources.
Total Measured & Indicated Mineral Resources based on a Net Smelter Return (NSR) cut-off value of $15 per tonne (CAD) for pit constrained Mineral Resources and $60 per tonne NSR for out-of-pit Mineral Resources is 7.5 Mt at 0.58% Ni and 0.32% Cu for a total of 95 Mlb of contained nickel.
An additional 0.985 Mt at 1.0% Ni and 0.62% Cu (22 Mlb contained nickel) were calculated as Inferred Mineral Resources. Visual inspection of the NSR Block Model for the Kenbridge Deposit shows the highest nickel grades (greater than 2.0%) appear to have a strong down-plunge orientation as shown in the image above.
Why it matters:
Tartisan Nickel’s Chief Executive Officer stated in
a news release detailing this project for investors that the updated MRE was necessary to determine if Kenbridge mineralization is potentially extractable under current metal prices and exchange rates.
“This is a major milestone achieved by the Company as the market conditions for Class 1 nickel sulphide deposits improve. The differences between the previous P&E Mineral Resource Estimate (2008) and the current P&E Updated Mineral Resource Estimate are attributed to changes in metal prices and recalculation of NSR values. The Kenbridge Deposit shows there is great potential to expand the Mineral Resource down-plunge of high-grade intersections such as hole KB07-180 (2.95% Ni, 0.82% Cu/21.5m including 7.2% Ni, 0.67% Cu/5.5m) and also at depth. The deepest hole (end of hole K2010 = 880 m below surface) intersected mineralization grading 4.25% nickel and 1.38% copper over 10.7 ft (3.3 m), indicating that the Deposit remains open at depth. Tartisan plans to expand on these intersections, upgrade the Indicated and Inferred Mineral Resources and test high potential nickel exploration targets, such as the Kenbridge North Target. Additionally, given the market interest in Class 1 nickel deposits, we will look to update the historic Preliminary Economic Assessment completed in 2008 based on this very positive Mineral Resource update.”
The review was conducted by
P&E Mining Consultants Inc.
TN also owns the Sill Lake Silver Property in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
(Tartisan Nickel Corp. stock chart – Sept 2019 – Sept 2020. Click to enlarge.)
Currently, there are 101,603,550 shares of the Company outstanding (107,203,550 fully diluted), with a market cap of $23.3 million (CAD). TN shares have survived the economic woes of 2020 well and have managed to grow around four times in value since this time last year.
For more information on this Company, and to keep up with its news releases, visit
tartisannickel.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.