TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to provide an update on the ongoing environmental baseline studies at its 100%-owned Alexo-Dundonald Project, located approximately 45 km northeast of Timmins, Ontario. These studies are being carried out by Story Environmental Inc. (“SEI”) of Haileybury, Ontario, and will serve as key components to advance the Project through exploration to production.
Environmental Baseline Program
The purpose of the environmental baseline work is to support future permitting requirements for the Alexo-Dundonald Project. Emphasis has been placed on the programs that will require multi-year, seasonal data. The environmental baseline studies are expected to be completed in the summer of 2022, with reporting on the baseline studies to be finished by the end of December 2022.
Baseline studies to support the development and permitting of the Project are underway in the following areas: surface water quality, hydrology, and groundwater levels and quality.
The surface water sampling program is designed to capture any spatial and temporal variations in water quality within the waterbodies located in and around the project area. Initial site reconnaissance took place in April 2021. In May 2021, the water within the Alexo North and South Pits was sampled to determine the existing water quality at different depths in the historical pits. A monthly baseline surface water monitoring program began in July 2021. Monthly sampling will continue into the summer of 2022 in order to establish a robust dataset for permitting.
As part of the 2021 hydrology program, flow measurements and water levels were obtained at hydrology stations established at the outlets of two unnamed waterbodies in the Dundonald area. This data will facilitate the development of a rating curve for each station and will support future environmental permitting in the Dundonald area. Continuous water level data are also being collected at one unnamed lake. There are plans to collect additional flow measurements and water level data at other sites later in 2022.
The groundwater monitoring program began with the installation of additional groundwater monitoring wells in August 2021, to supplement the existing monitoring wells. Groundwater quality samples are being collected monthly to establish a comprehensive groundwater quality database. In addition, a level transducer has been installed, in one of the monitoring wells, to determine the range in static water levels. The groundwater level and quality data will be used to support hydrogeological studies for the historical Alexo South Pit Permit to Take Water.
Environmental Permitting Support
The Project Definition document that will be utilized to communicate the proposed Project activities to the regulatory authorities for mine development is currently underway. This document also will form the basis of the mine closure plan required for permitting the dewatering of the historical Alexo North and Alexo South pits and full-scale mining operation.
The Permit to Take Water for the Alexo North Pit is currently in place, but the Alexo South Pit will require a Permit to Take Water. This permit application will be submitted in early 2022. Reporting to support the management of the water, from the dewatering of the historical Alexo North and South pits, is also underway.
About Alexo-Dundonald Project
The 100%-owned Alexo-Dundonald Property is an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide deposits located 45 km northeast of the City of Timmins (Ontario, Canada), a world-class mining jurisdiction with processing plants in need of additional feed. Class 1 Nickel has assembled a strategic land package that combines the historically mined Alexo nickel sulphide deposits with the Dundonald nickel sulphide prospects to create a larger and more diversified property portfolio. The Company’s updated total estimated Indicated Mineral Resource consists of 1.25 Million tonnes (Mt) with an average grade of 0.99% Ni and a total estimated Inferred Mineral Resource of 2.01 Mt with an average grade of 1.01% Ni, as per NI 41-101 Technical Report completed by P&E Mining Consultants Inc (December 17, 2020). The Company is currently drilling to expand the known Mineral Resources and discover new resources to support a Preliminary Economic Assessment.
About Class 1 Nickel
Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) is a Mineral Resource Company focused on the development of its 100% owned Alexo-Dundonald Property, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide Mineral Resources located near the City of Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.
Qualified Persons
The environmental information in this news release has been reviewed and approved by Maria Story (P. Eng.), independent environmental consultant to the Company. The contents contained herein that relate to the scientific and exploration results for the Alexo-Dundonald Project is based on information compiled, reviewed or prepared by Dr. William Stone (P.Geo.), independent geological consultant to the Company. Both Maria Story (P.Eng.) and Dr. William Stone (P.Geo.) are Qualified Persons under the definitions established by National Instrument 43‐101.
For more information, please contact:
David Fitch, President
T: +61 400.631.608
E: dfitch@class1nickel.com
For additional information please visit our website at www.class1nickel.com and our Twitter feed: @Class1Nickel.
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.