Canada Nickel Company has exercised its option to acquire an 80% interest in the Mann Nickel property from Noble Mineral Exploration as the TSX-V-listed junior consolidates its interests in bulk tonnage nickel projects east of Timmins, Ontario.
Canada Nickel exercised its option after a successful drill programme in 2023, where all 15 holes intersected target mineralisation, said CEO Mark Selby.
“We are looking forward to further unlocking the potential of these three targets in 2024."
The option terms include exploration expenditures of C$1.7-million, a cash payment of C$350 000, a yearly cash payment of C$100 000 and an underlying net smelter return rights to previous claim owners and to Noble.