by Greg Klein | February 1, 2017
Jurisdiction, infrastructure, two deposits and a mouthful of a name attracted Nickel One Resources TSXV:NNN to Finland and the Lantinen Koillismaa platinum group element-copper-nickel project. But the company calls it LK for short. On February 1 two parties signed a definitive agreement on a deal that’s been several months in the making.
Subject to regulatory approvals, Nickel One gets the property by taking over a subsidiary of Finore Mining CSE:FIN, which outlined resources for two potential open pits in 2013.
(Update: In a later clarification issued March 22, Nickel One stated the estimates aren’t supported by a compliant NI 43-101 technical report and “should not be relied on until they have been verified and supported by a compliant technical report.” The company expected to file a technical report within three weeks.)
The property’s Kaukua estimate shows:
- indicated: 10.4 million tonnes averaging 0.73 g/t palladium, 0.26 g/t platinum, 0.08 g/t gold, 0.15% copper, 0.1% nickel and 65 g/t cobalt
- inferred: 13.2 million tonnes averaging 0.63 g/t palladium, 0.22 g/t platinum, 0.06 g/t gold, 0.15% copper, 0.1% nickel and 55 g/t cobalt
Three zones of LK’s Haukiaho estimate total:
- inferred: 23.2 million tonnes averaging 0.31 g/t palladium, 0.12 g/t platinum, 0.1 g/t gold, 0.21% copper, 0.14% nickel and 61 g/t cobalt
Companies accustomed to the Canadian north might look with envy at LK’s location, 65 kilometres south of the Arctic Circle. The property has power, year-round road access, rail 40 kilometres away and a port 160 kilometres west. Nickel One describes the region as “populated by several large-scale producers and three smelters,” while the company’s management “is highly experienced in the exploration and development of ultramafic intrusion-hosted nickel-copper-PGE projects.”
Part of that experience comes from Nickel One’s Tyko property in northwestern Ontario, from where the company announced drill results last spring.