release031921st Sector Newswire - ST.C

Sector NewswireTM

Sector:  Mining, Base Metals, PGE, Precious Metals  :

 

News Release -  January 20, 2023 4:46 PM ET    - Editorial Release

 

 

Québec Nickel Prepares to Commence 2023 Drilling Program at Ducros Ni-Cu-Co-PGE-Au Property

 

NEW YORK, NY, January 20, 2023 /Sector Newswire/ -- Québec Nickel Corp. (CSE: QNI) (OTCQB: QNICF) (Frankfurt: 71B) this week announced the start of its winter 2023 drilling program at the Ducros Ni-Cu-PGE Project, located approximately 80 kilometres northeast of Val-d’Or, Québec. This news falls on the heels of an announcement that it has completed the closing of its second and final tranche of its previously announced brokered private placement, raising a total of ~C$8.7 million to be primarily used for its 2023 exploration program.

 

Additionally, Québec Nickel Corp. is the subject of a Market Equities Research Group Market Bulletin, full copy of which may be viewed at https://marketequitiesresearch.com/marketbulletin-qni-jan-2023.htm online.

  

Below is copy of the company's last news release, followed by excerpt copy of the Market Bulletin.

______ ______ ______      ______ ______ ______

 

Copy of January 17, 2023 Company News Release:

 

Québec Nickel To Kick Off Its 2023 Drilling Program At Ducros

 

A total of 20,000 metres to be completed at the Fortin Sill Zone, Ducros Ultramafic Sill Complex and Ducros Gabbro targets

Vancouver, British Columbia, January 17, 2023 – Québec Nickel Corp. (CSE: QNI; FSE: 7lB; OTCQB: QNICF) (“QNI” or the “Company“) is pleased to report the start of its winter 2023 drilling program at the Ducros Ni-Cu-PGE Project, located approximately 80 kilometres northeast of Val-d’Or, Québec. Upon completion of its recent highly successful financing , which saw more than $8.5 million dollars raised (see QNI’s December 30, 2022 News releases for details), the Company aims to complete approximately 20,000 metres of drilling in 2023.

David Patterson, QNI’s Chief Executive Officer, notes “We are very excited to get right back to work after our inaugural 2022 exploration program at Ducros. The team and I are really looking forward to following-up on the exceptional drilling results we’ve seen so far at the Fortin Sill Zone in addition to testing the many other Ni-Cu-PGE targets we have across the property.”

The 2023 drilling contract has been awarded to Val-d’Or-based Orbit Garant Drilling Inc. who will supply up to three diamond drills throughout the course of the year to complete the planned 20,000 metre drill program. There are currently two drills on the property and field crews are actively preparing access trails to the various targets. Drilling is expected to begin within the next ten days and is planned at the Fortin Sill Zone, Ducros Ultramafic Sill Complex and Ducros Gabbro targets.

At the Fortin Sill Zone, drilling is focused on the continued evaluation and expansion of the Ni-Cu-PGE-mineralized mafic to ultramafic intrusion as well as the testing and exploration of the updated geological model (see QNI’s December 15, 2022 News Release for more details). Drilling at the Ducros Ultramafic Sill Complex and Ducros Gabbro targets is focussed on testing the numerous high-priority geophysical anomalies derived from the integration and 3-D modelling of the geophysical surveys completed during the 2022 exploration program at Ducros, including the VTEMTM, drone-based magnetics and airborne Falcon gravity surveys (see November 16, 2022 News Release for additional details).

QUALIFIED PERSON

Gary DeSchutter, M.Sc., P.Geo., Vice-President of Exploration for Québec Nickel Corp., and a Qualified Person (“QP”) as defined under National Instrument 43-101 (“NI 43-101”), has reviewed, and approved the scientific and technical content of this press release.

ABOUT QUEBEC NICKEL CORP.

Québec Nickel Corp. is well-financed a mineral exploration company focused on acquiring, exploring, and developing nickel projects in Québec, Canada. The Company has a 100% interest in the Ducros Property, consisting of 280 contiguous mining claims covering 15,147 hectares within the eastern portion of the Abitibi Greenstone Belt in Québec, Canada. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors

David Patterson
Chief Executive Officer and Director
1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions, or other factors should change.

...Click here to see full copy of this release from source

 

______ ______ ______      ______ ______ ______

 

Copy of Market Equities Research Group Market Bulletin:

 

Market Equities Research - Market Bulletin   January 5, 2023 0:15 UTC

 

 

Québec Nickel $QNI Cashed-up for 2023 Ni-Cu-Co-PGE-Au Exploration Season

  • After encountering spectacular success in the 2022 exploration season, QNI’s geological team, led by V.P. of Exploration Gary DeSchutter, M.Sc., P.Geo., is looking to generate success across multiple fronts in 2023 on its large (~15,000 hectares), 100%-owned, Ni-Cu-Co-PGE-Au Ducros Project – the geological team is planning to drill a number of targets believed to be highly prospective for new discovery. In-short, QNI knows what they have found to date is significant and its understanding of what has the potential to be there across the project is enormous.

  • Independent Mining Analyst, Eric Lemieux, summarized matters well in November-2022, providing a noteworthy endorsement following a site visit of Québec Nickel Corp's Ducros Ni-Cu-PGE Project; "We estimate for the 7 intersections disclosed by QNI in the Fortin Sill system an average of 4.95m @ 0.72% Ni, 0.78% Cu, 1.32 g/t Pt-Pd-Au" -- Since then additional impressive results have come forth.

Share data, Capitalization, & Corporate info

 

 Shares Outstanding:  110,842,205

 Recently Traded: ~CDN$0.17/share (CSE: QNI)

 52 Week High/Low: $0.32 / 0.09

 Current Market Capitalization: ~$19 million CDN

 Corporate Website: www.QuebecNickel.com

 

Fully financed to tackle 2023:

 

Québec Nickel Corp. (CSE: QNI) (OTCQB: QNICF) (Frankfurt: 71B) closed out 2022 by announcing it has completed the closing of its second and final tranche of its previously announced brokered private placement, raising a total of ~C$8.7 million to be primarily used for its 2023 exploration program. This news falls on the heels of an announcement regarding additional assay results from drilling completed at its Ducros Ni-Cu-Co-PGE-Au Project, 80 kilometres northeast of Val-d’Or, located in the prolific Abitibi Greenstone belt.

 

Exceptional Risk-Reward Metrics:

 

The company was formed in 2020 to specifically tackle Ducros after it was identified as an outlier with grades ~4 - 5 times what is found in the region for nickel, but also spectacular elevated copper, cobalt, platinum, palladium, and gold. This combination of high-grades across a mix of companion elements proximal exceptional infrastructure (all weather roads within meters, nearby power, rail, and a trained local workforce, in a mining-friendly region) sets-up a potential scenario with a low economic threshold; assuming continued exploration success, the ingredients are there to potentially become one of the lowest cost nickel concentrate producers. QNI currently has a nominal market cap of ~C$19 million (~110.8 million shares trading near ~C$0.17). The majority of the company shares are institutionally held, and the company is well capitalized to accomplish key objectives thru 2023. The share price of QNI appears poised for upside revaluation as continued news flow occurs, and as the significance of what Québec Nickel Corp. possesses is better appreciated by the market.

 

High-grade Ni-Cu-Co-PGE-Au Fortin Sill Deposit & big-upside for 2023 across the property:

 

Drilling to date (in only one season!) has indicated near-surface, high grade and bulk tonnage potential at the Fortin Sill target with significant upside potential as the Fortin Sill trend is +1 km in strike length. There is also similar potential, if not even larger, at the other targets at the Ducros project set to be tested for 2023.

 
QNI’s maiden multi-phase drill program began in Q1-2022; QNI completed just over 21,000 metres in 91 holes across the Ducros property. The majority of drilling in 2022 was focused on the Fortin Sill Ni-Cu-PGE deposit which is rapidly developing, starts at surface and appears amenable to a high-grade open pit scenario. Independent Mining Analyst, Eric Lemieux, summarized matters well in November-2022, provided a noteworthy endorsement following site visit of Québec Nickel Corp's Ducros Ni-Cu-PGE Project; "We estimate for the 7 intersections disclosed by QNI in the Fortin Sill system an average of 4.95m @ 0.72% Ni, 0.78% Cu, 1.32 g/t Pt-Pd-Au". Since then additional impressive results have come forth, the following Plan Map from the December 15, 2022 news release shows a sizeable Ni-Cu-PGE deposit is being advanced at the Fortin Sill Zone:

 

 

Figure 1. (above) Voluminous body of quality material is located in the above plan map from Dec. 15, 2022 news release. The plan map shows the locations of selected drill holes completed at the Fortin Sill Zone with Ni + Cu assays (%) in relation to the outline of the Fortin Sill discovery outcrop (see dashes in image above where high-grade stripped outcrop is now exposed at surface). Drill holes with new assay results reported in the Dec 15, 2022 news release are highlighted in orange i.e. QDG-22-30 through QDG-22-32 and QDG-22-38.

 
See the company’s corporate presentation [PDF] for a synopsis of impressive 2022 drill highlight results released to date:

https://rxud3d.a2cdn2.secureserver.net/wp-content/uploads/2022/11/Quebec-Nickel-Website-Presentation-1-1.pdf online.

 

 
Figure 2 (above) Updated Exploration Model for the Fortin Sill Zone -- the Ni-Cu-Co-PGE-Au mineralization at the Fortin Sill Zone occurs at or near the footwall contact of a large west-southwest-dipping embayment structure within the larger mafic to ultramafic Fortin Sill. The overall Fortin Sill intrusive body is interpreted to span several hundred metres or more in an approximate northwest-southeast trend and is characterized by the occurrence of a large blow-out, or embayment, at the Fortin Sill Zone. This refinement in the exploration model is being used to plan the next phase of work at Fortin Sill Zone and will likely include the drill testing of the newly modelled footwall contact along its entire surface, both along strike and at depth.

 
The 2022 drill program is now complete, and there remain numerous core assays pending at the lab to report near-term. Besides the Fortin Sill deposit, QNI also looked at targets that are highly prospective for new discovery in other areas of the property (e.g. its Ducros Ultramafic Sill Complex has recently received over 3,650 metres in 10 holes spanning 800 m across the interpreted north-south strike of the regional geological trend (assays are pending)).

 

2023 drilling target areas across the property are indicated by dashed outlines:

 

 

Figure 3. (above) Plan map of Québec Nickel’s Ducros property (red outline) showing the merged total field VTEMTM and drone magnetic data sets overlain on top of Québec Government geology. 2023 drilling target areas are indicated by dashed outlines. Drill targets comprise coincident geophysical anomalies (VTEM conductive features +/- magnetic highs responses +/- gravity features).

 
In-short, QNI knows what they have found to date is significant and its understanding of what has the potential to be there across the project is enormous.

 
Plans are in progress to launch winter work programs including up to 20,000 metres of new drilling in 2023. Details on targets will be forthcoming – QNI has invested a large amount of time and resources in 2022 developing a myriad of exploration datasets (UAV magnetic, VTEM, airborne gravity-gradiometer surveys, prospecting, geological mapping & biogeochemical surveys, etc...) to maximize success.

 
The geological team leadership, directors, and board of advisors are an impressive who's-who of nickel expertise with career accomplishments across the spectrum from nickel exploration & discovery, development, and major production. Gary DeSchutter, M.Sc., P.Geo., is Vice-President of Exploration for Québec Nickel Corp., he started his career with Falconbridge and transitioned to Anglo American for 6 years as part of their global nickel generation team. Gary joined Québec Nickel in February-2022 -- in-short, he picked Québec Nickel because he knows nickel and was attracted by the anomalous Nickel-Copper-Platinum Group Element (PGE) occurrences and elephant-size potential at Ducros.

 

The following URLs have been identified for additional insight on Québec Nickel Corp.:
 

Company website:
https://quebecnickel.com

 

------ ------ ------

 

SEDAR: URL

 

------ ------ ------

 

Q4-2022 site visit review by Mining Analyst, Eric Lemieux: URL

 

------ ------ ------
 

Recent Mining Journal Review:
https://miningmarketwatch.net/qni.htm

 

------ ------ ------
 

 # #

 

   
This bulletin may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned.

 

______ ______ ______      ______ ______ ______

 

 

 # #

 

 

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

 

 

SOURCE: Sector Newswire editorial

editorial@SectorNewswire.com

 

Additional Disclaimer and Disclosure I Contact I Terms and Conditions I Copyright I Privacy Policy