Canada Nickel acquires another property near Timmins
Canada Nickel is continuing its aggressive acquisitions of nickel properties in the Timmins area.
On Dec. 19, the company announced it has purchased the Texmont property, located between the company’s Deloro and Sothman properties, 36 kilometres south of Timmins.
Mark Selby, chair and CEO, said in a news release that Texmont is a property that can begin producing nickel quickly.
“The acquisition of the Texmont property provides near-term, smaller-scale production potential and is highly complementary to our large-scale Crawford and regional nickel sulphide projects,” Selby said.
“In our discussions with nickel consumers for the battery market, many of them are keen to have new nickel production that could come to market by 2025. Similarly, a number of investors have expressed interest in financing near-term production.”
Texmont operated as an open pit mine between 1971 and 1972. Early drilling has shown promising results, the company said. Many more test holes will be drilled this winter.
“The goal (is to produce) a current resource estimate using historic and new data, as the basis for an open pit mine plan to support a potential restart by 2025 or provide a source of higher-grade feed for the Crawford Nickel Sulphide project,” the company said.
The news comes more than a year after Canada Nickel announced it was acquiring 13 properties near the Crawford Nickel-Sulfide Project.
Combined, the 13 properties have a surface footprint of 37.7 square kilometres – 40 times larger than current Crawford Main Zone resource of 0.85 square kilometres.
Ten of the target properties have a larger footprint than Crawford and nine confirmed to contain the same host mineralization as Crawford.
Selby has been bullish on the company’s work, saying it could become a rival to Sudbury as a source of nickel needed as electric vehicle production ramps up.
"We're really talking about building one of the world's largest nickel sulfide districts, you know, potentially larger than Sudbury," Selby said in October.
"(We're) in a point in time where the market is desperate for large-scale, scalable low-carbon sources of nickel to be able to have a nickel for the electric vehicles that everybody would like to produce over the next few months."
CTVNews.ca Top Stories
BREAKING King Charles' cancer treatment progressing well, says Buckingham Palace
King Charles III’s doctors are 'sufficiently pleased' with his cancer treatment and he is expected to return to public-facing duties, Buckingham Palace announced on Friday.
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
AFN chief says Air Canada offered a 15% discount after her headdress was mishandled
After the Assembly of First Nations' national chief complained to Air Canada about how staffers treated her and her ceremonial headdress on a flight this week, she says the airline responded by offering a 15 per cent discount on her next flight.
Regina police officer injured after being accidentally shot by fellow officer's gun
An investigation is underway after a Regina police officer was accidentally shot by a fellow officer’s gun during the search of a house early Friday morning.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
DEVELOPING Bird flu outbreaks: WHO weighs in on public health risk
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.
From faulty kids' cribs to flammable kids' bathrobes, here are the recalls of the week
Health Canada issued recalls for various items this week, including kids’ bathrobes, cribs and henna cones.
Island near Mull of Kintyre for sale for US$3.1 million
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.