CLASS 1 NICKEL PROVIDES EXPLORATION AND OPERATIONS UPDATE

Toronto, Ontario (13 December 2023) – Class 1 Nickel and Technologies Ltd. (CSE: NICO | OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to provide an update on its nickel exploration and operations for its 100% owned Alexo-Dundonald (Ontario) and Somanike (Quebec) nickel projects. Both projects comprise extensive property packages covering past-producing nickel mines, offering near-term production opportunity and excellent exploration upside. The Company also holds 100% interest in its River Valley PGE Project located about 65 km northeast of the City of Sudbury, the world’s largest and longest operating nickel-copper-cobalt-PGE mining camp.

Table 1 provides a summary of the work completed to date by Class 1 Nickel on the highly prospective Alexo-Dundonald and Somanike nickel projects.

The Alexo-Dundonald Nickel Project (“A-D Project”), is located about 45 km northeast of the City of Timmins, Ontario, covers an area of approximately 1,895 hectares (18.95 km2) and was acquired by the Company in September 2018. The A-D Project includes four foundation nickel deposits (Alexo North and South and Dundonald North and South) of which the Alexo North and Alexo South (aka Kelex) were small-scale past producers of nickel (i.e., 1957; 2004-2005). The deposits are located on a near-continuous folded komatiite-ultramafic rock sequence that extends for at least 14 kilometres within the Property. The four mineral resources (Tables 2 and 3) are open at depth and along strike and could increase in size with additional drilling.

The Somanike Nickel Project (“Somanike”), located about 25 km north of the mining centre of Malartic and 40 km northwest of Val d’Or, covers an area of approximately 6,882 hectares (68.8 km2) and was acquired by the Company in February 2021. The Somanike includes the past-producing high-grade nickel Marbridge Mine which ceased production in 1968.

OPERATIONS UPDATE

Class 1 has engaged Caracle Creek Chile SpA (Canada/Chile) and their strategic partner Atticus Geoscience Consulting Ltd. (UK/Peru) (the “Consultants”) to conduct overarching independent reviews of both the A-D and Somanike nickel projects but with an initial focus on the Alexo-Dundonald Nickel Project and its four nickel-copper-cobalt-PGE deposits. 

The work at A-D will include compilation and targeting and updating of 3D geological models with a view to produce revised mineral resource estimates, a preliminary economic assessment, and comprehensive exploration and development budgets for 2024 work programs to include:

  • Compilation and verification of data, assays, inventory, and NI 43-101 reporting;
  • Generating the Company’s first comprehensive 3D geological models (current), mineral resource models (2024), and pit optimisation scenarios (2024) looking toward a PEA level study or studies in 2024;
  • Conducting preliminary studies into the economic viability of proposed future nickel production scenarios;
  • A review of work done to date, regarding environmental studies and permitting; and 
  • A comprehensive diamond drilling plan to expand current mineral resources.

Looking toward 2024, the Company is focused on completing an updated mineral resource estimate on the Alexo South Nickel Deposit and a drilling program is being planned to test high-grade nickel shoots, expand resources, and upgrade resource categorization at Alexo South. Various cross-sections showcasing the updated geological modelling are shown in Figures 1, 2, 3, 4, and 5 (or click to view Figure 1Figure 2Figure 3Figure 4 and Figure 5). The remaining three nickel deposits will also see new updated mineral resource estimates in 2024. 

The Consultants will also be undertaking a comprehensive review of the Somanike Nickel Project (Marbridge Mine and area) in Quebec, including the integration of recent exciting successful drill hole intercepts and data from 2022-2023 exploration programs which delineated a number of new geophysical targets within the historical Marbridge Mine area. Mr. Alexandr Beloborodov (P.Geo., OGQ #01637) is the Qualified Person with respect to the Somanike Nickel Project.

Table 1. Summary of work completed to date by Class 1 Nickel at Alexo-Dundonald and Somanike.

Permits

Several provincial environmental permits are in place for the A-D Project. These include:  

  • 2006 Ministry of Environment Conservation and Parks  (“MECP”) Industrial Sewage Works Environmental Compliance Approval (“ISW ECA”);
  • MECP Permit to Take Water (“PTTW”) for the Alexo North Pit; and
  • Ministry of Mines (“MINES”) production-phase closure plan (“CP”) amendment (2011).  

The ISW ECA permits the existing settling and polishing ponds and allows for the seasonal discharge of effluent to the nearby receiving body of water. However, the regulations governing mine discharges have changed substantially in recent years and site-specific effluent limits will most likely be required for this Project. Therefore, an amendment to the ISW ECA will most likely be required based on these new regulatory requirements. The PTTW allows for the dewatering and maintenance dewatering of the Alexo North Pit; however, it expires in October 2024. An application for renewal of this PTTW will be submitted during the first quarter of 2024. The CP amendment (2011) covers production from the Alexo North Pit and Alexo South Pit (aka the Kelex Pit) but the Project is currently in a state of inactivity and MINES only holds ~$70,000 of financial assurance for the Project.

To put the Alexo North Pit and Alexo South Pit into production, the following would be required:

  • an ISW ECA amendment application, including site-specific effluent limits, may have to be prepared and submitted to the MECP for approval (as indicated above);
  • a renewal of the PTTW for the Alexo North Pit is required from the MECP;
  • a PTTW for the dewatering and maintenance dewatering of the Alexo South Pit would have to be obtained from the MECP;  
  • a Notice of Project Status, to take the Project from a state of inactivity to production, and Notice of Material Change would have to be submitted MINES; and finally
  • a CP Amendment would also be required for the new project, with the relevant amount of financial assurance submitted to MINES.  

A Federal Impact Assessment and Provincial Environmental Assessments are not anticipated but this will depend on the proposed rate of production.

Figure 1. Plan map of generalized geology and mineralization at Alexo South showing the location of current (AS-21-xx holes) and historical (all others) drill hole collars and traces. The northeast-trending mineralized zone (striped lines) is a modelled domain defined by >0.12% Ni. Locations of cross-sections are shown as lettered green lines.

Figure 2. Alexo South: Cross-section I-I’ showing generalized geology and mineralization and weighted drill hole intercepts of nickel in current (AS-21-xx) and historical (all others) drill holes. The mineralized zone (striped lines) is a modelled domain defined by >0.12% Ni.

Figure 3. Alexo South: Cross-section H-H’ showing generalized geology and mineralization and weighted drill hole intercepts of nickel in current (AS-21-xx) and historical (all others) drill holes. The mineralized zone (striped lines) is a modelled domain defined by >0.12% Ni.

Figure 4. Alexo South: Cross-section G-G’ showing generalized geology and mineralization and weighted drill hole intercepts of nickel in current (AS-21-xx) and historical (all others) drill holes. The mineralized zone (striped lines) is a modelled domain defined by >0.12% Ni.

Figure 5. Alexo South: Cross-section D-D’ showing generalized geology and mineralization and weighted drill hole intercepts of nickel in current (AS-21-xx) and historical (all others) drill holes. The mineralized zone (striped lines) is a modelled domain defined by >0.12% Ni.

About Alexo-Dundonald Nickel Project

The Alexo-Dundonald Nickel Project is located within the long-established Timmins mining camp of northern Ontario, Canada, about 45 km northeast of the City of Timmins. The Project covers an area of approximately 1,895 hectares consisting of a total of 95 Boundary Cell Mining Claims, Single Cell Mining Claims, Leased Claims, and Patented Claims.

Previous exploration activity and results in the Alexo-Dundonald Project area have been extensively reviewed and documented by historical NI 43-101 technical reports (Montgomery, 2004; Harron, 2009; Puritch et al., 2010 and 2012), by a previous NI 43-101 Technical Report prepared for the Company (Donaghy and Puritch, 2020), and in the current NI 43-101 Technical Report and Mineral Resource Estimate (Stone et al., 2020). Significant drill core intersections reported therein represent the latest rounds of drilling by the last companies to drill on the various target areas within the Project (i.e., Canadian Arrow at Alexo-Kelex in 2004–2005 and 2010–2011; First Nickel at Dundonald in 2004–2005; and Falconbridge at Dundeal in 1989) and are presented as an indication of nickel grade and continuity of mineralisation typical of the komatiite-hosted nickel sulphide mineralization on the Property. 

The Alexo-Dundonald Nickel Project contains current mineral resources in four separate deposits: Alexo North, Alexo South, Dundonald North, and Dundonald South (see Company news release dated 17 December 2020) (Tables 2 and 3).

The current Mineral Resource Estimates (Tables 2 and 3) were prepared by Yungang Wu (P.Geo.) and Eugene Puritch (P.Eng., FEC, CET) of P&E Mining Consultants Inc, both Independent Qualified Persons as defined by NI 43-101 Standards of Disclosure for Mineral Projects.

For more information, please refer to the current NI 43-101 Technical Report and Mineral Resource Estimates on the Alexo-Dundonald Nickel Project (Stone et al., 2020) posted to the Company’s SEDAR+ profile on 17 December 2020.

About Somanike Nickel Sulphide Project

The Somanike Nickel Sulphide Project is located in the prolific and mining-friendly Abitibi Region of northwestern Quebec approximately 25 km north of the mining centre at Malartic, 40 km northwest of Val-d’Or, and 60 km east of Rouyn-Noranda. The Project consists of 148 mining titles (6,882 ha) over the large northwest-trending La Motte Ultramafic Complex, within the Abitibi Greenstone Belt. The ultramafic rocks host several nickel sulphide occurrences, recognized nickel targets (geophysical and geological), and areas of historical high-grade nickel production (Marbridge Ni-Cu Mine).

The Somanike Nickel Sulphide Project includes Quebec’s first nickel mine, the historical Marbridge Ni-Cu Mine (the “Marbridge”), operated by Falconbridge Nickel from 1962 to 1968, which produced high-grade nickel and secondary copper. The Marbridge occurs within the northwest-trending La Motte Ultramafic Complex which comprises deformed and altered ultramafic rocks. Falconbridge Nickel reported production of 702,366 tons grading 2.28% Ni and 0.10% Cu, prior to being placed on care and maintenance in 1968 (source: SIGEOM, MERN Quebec Government website).

The Marbridge consists of two shafts that accessed four separate mineralized zones (horizons) over a combined strike length of 1,000 metres. During production, mineralized material was trucked 25 km south to the Canadian Malartic processing plant. Mining in 1968 ceased in mineralization and the four nickel sulphide zones or mineralized horizons (Mine 1, Mine 2, and Mine 3-4) remain open to expansion along strike and down-dip/plunge.

QA/QC and Assay Protocols

Core and QAQC samples from the Alexo-Dundonald drilling program were sent to AGAT Laboratories in Mississauga, Ontario. At AGAT Laboratories, the analytical methods employed consisted of four-acid digest followed by sodium peroxide fusion and ICP-OES finish for multi-element analysis (including Ni, Cu, Co and S); fire-assay collection and ICP-OES finish for palladium, platinum and gold; and nickel collection fire assay and ICP-MS finish for the platinum-group elements, including rhodium. AGAT is recognized by the industry and accredited with Standards Council of Canada (SCC), Canadian Association for Laboratory Accreditation (CALA), British Standards Institution Canada (BSI), and for specific tests by ISO/IEC 17025:2017 standards and certified to ISO 9001:2015.

Core and QAQC samples from the Somanike drilling programs were sent to Impact Global Solutions Inc.’s laboratory in Delson, Québec (“IGS”) for analysis by a 50 element assay package of 4 Acid Digestion, Ore Grade Metals Package, with ICP-OES finish and precious metals (Pt, Pd, Au) by fire assay. IGS is recognized by the industry and accredited with the Standards Council of Canada and certified for specific tests by ISO/IEC 17025 standards.

In addition to the QA/QC employed by the commercial laboratories, Class 1 Nickel uses its own rigorous QA/QC protocols for sampling which includes the insertion of certified reference material standards, sample duplicates, and coarse silica blanks into the sample stream on a systematic basis. In all cases, core samples were collected from NQ-size drill core, sawn in half using a diamond saw, with one-half of the core sent to the laboratory and the other half stored at a secure site for future reference.

Qualified Person

Technical information and data in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo., PGO #0183), a geological consultant to the Company, and a Qualified Person under the definitions established by National Instrument 43‐101.

About Class 1 Nickel 

Class 1 Nickel and Technologies Limited (CSE: NICO | OTCQB: NICLF) is a Mineral Resources Company focused on the exploration and development of its 100% owned komatiite-hosted Somanike Ni-Cu Sulphide Project in Quebec, which includes the historical Marbridge Ni-Cu Mine. The Company also owns the Alexo-Dundonald Ni-Cu-Co Sulphide Project, a portfolio of komatiite-hosted magmatic sulphide deposits located near Timmins, Ontario.

For more information, please contact: 

Mr. David Fitch, President & CEO

T: +61.400.631.608

E: info@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.sedarplus.caForward-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.

Class 1 Nickel provides disclosure of 2021 drilling program at Alexo-Dundonald Nickel project in Timmins

TORONTO, May 02, 2022 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to provide an update of its 2021 phase 1 and phase 2 drilling programs on the Alexo-Dundonald Property near Timmins, Ontario (Figure 1).

The summer 2021 program was completed by G4 Drilling of Val-d’Or, Quebec, under the supervision of Terra Modelling Services of Saskatoon, Saskatchewan. Class 1 Nickel’s program consisted of 88 diamond drill holes totalling 20,607 m. Table 1 gives summary statistics for the drilling program.

Table 1. Summary statistics of C1N 2021 drilling, Alexo-Dundonald Property in northeastern Ontario.

 AreaAlexo South Alexo North Dundonald South Scissor Holes Total 
 Drill Holes37 29 18 4 88 
 Total Metres9177 5813 4919 641 20607 
 Max Hole Depth (m)432 306 434 201 434 
 Min Hole Depth (m)102 135 126 102 102 
 Average Depth (m)248 198 259 160 234 
            
 Min Dip (°)-43.3 -43.7 -42.38 -43.71   
 Max Dip (°)-61.81 -51.85 -75.17 -45.45   

Drilling concentrated on exploring around the periphery of the three mineralised zones at Alexo South, Alexo North and Dundonald South to test and potentially extend the known close to surface mineralised zones at the three deposits: by

  • Following up geophysical anomalies remodelled from BHEM data acquired by previous explorers; and
  • Stepping out drilling into the gaps between the known mineralised envelopes and the pierce points of the previous closest drilling from past exploration around the known deposits.

Drilling also followed up some borehole and VTEM anomalies in the immediate vicinity of the known mineralised zones at Alexo South, Alexo North and Dundonald South.

C1N experienced significant delay in obtaining assay results for the drilling program due to an exceptional delay by the laboratories in running the relevant analyses, with full certified results for all drilling only returned on 17th March, 2022.

Figure 1. Location of the Alexo-Dundonald Property in northeastern Ontario.
https://www.globenewswire.com/NewsRoom/AttachmentNg/612fcdd1-33b0-429a-999a-874c479494b3

Some of the more significant intersections are:

  • Boreholes AN-21-04, 07, 10, 19, 20, 23, 24 to the northeast of Alexo-North targeting BHEM and VTEM anomalies outside the Alexo North mineralised envelope that encountered narrow intervals (<2m) of semi-massive sulphide grading 0.5-2% nickel at shallow depth (100-150m below surface), potentially delineating another small sulphide zone close to surface. 
  • Boreholes AS-21-07, 08 and 09 to the west of Alexo South targeting incremental additions to the Alexo South mineralised lenses intersected shallow intervals of 1-6m downhole widths of disseminated sulphides with grades of 0.3-0.8% nickel. 
  • Boreholes DS-21-02, 05, 09, 10, 14, 16, 17, drilled as incremental step-out to the Dundonald South mineralised envelope that intersected narrow (1-3m) intervals of semi-massive sulphide (0.5-4% nickel). These results are consistent with the known mineralised system and possibly representing minor extensions to the known mineralised envelope.

Borehole EM conducted on a selection of the 2021 holes generally highlighted known sulphide mineralisation, or small conductive plates sitting coincident with known minor sulphide intervals outside the immediate MRE mineralised area.

The full implications of assay results coupled with borehole EM surveys conducted is yet to be evaluated by the company. The Company is incorporating results into its 3D model of geology and geophysics to delineate further targets for testing. As can be seen from the summary statistics, nearly all the 2021 drilling was conducted at a shallow dip (~45-50°) to shallow downhole depths, meaning nearly all drilling was conducted to less than 200m vertical depth below surface, and limited in areal extent to the immediate environs of the known deposits. The deepest holes only tested to a vertical depth on the order of 300m below surface. In the Alexo North and South area, only about 10% of all holes drilled to date extend below 100 m vertical depth from surface.

While exploration has apparently closed out potential for immediate significant upgrade of the mineralisation around the margins of the known deposits, global exploration for komatiite-associated nickel sulphide systems in Australia, and within systems such as Thompson and Raglan in Canada, has demonstrated high potential for exploration and discovery of continued and (or) additional sulphide mineralization along strike or down-plunge within mineralized channelized flows. Similarly, potential parallel channelized environments within the same volcanic flow field offer reliable exploration targets for additional sulphide systems. The shallow nature of past exploration and focus on the near-surface known mineralization at Alexo-Dundonald means that these possibilities have not yet been tested on the Project.

Opportunities exist to test down-plunge and along strike of the known zones at Alexo-Dundonald for additional sulphide lenses with a targeted approach of surface EM, further diamond drilling below and along strike of the current drilling on the deposits, and borehole EM of the deeper drill holes. In addition, none of the priority VTEM anomalies highlighted by the 2019 survey conducted by the Company at Alexo-Dundonald (Figure 2, labelled A-O) have yet been tested with drilling.

Figure 2. Plan view of the Alexo-Dundonald Property in northeastern Ontario showing priority VTEM anomalies.
https://www.globenewswire.com/NewsRoom/AttachmentNg/2541892a-37ba-4549-8cf9-1423c09ab020

No drilling was conducted at Dundonald North during the 2021 drill program. The highest-grade nickel intersections of the Dundonald North Deposit occur at vertical depths of 400 to 525 m below surface. Although deep, there still exists very high potential to expand Dundonald North with several drill holes into open space around these intersections. The nickel mineralization is open to the west with room for further expansion to the east and at depth.

Table 2: Summary of significant results.

DDH Name
FromToDrilled WidthNi %
(m)(m)(m)%
AS-21-01 assay data not yet obtained  
AS-21-02 assay data not yet obtained  
AS-21-03no significant results
AS-21-04no significant results
AS-21-05no significant results
AS-21-06no significant results
AS-21-07241.50243.001.500.43
AS-21-08102.00102.500.500.51
AS-21-09102.00102.500.500.62
AS-21-09102.50104.001.500.45
AS-21-09104.00105.001.000.30
AS-21-09105.00106.001.000.87
AS-21-09106.00107.001.000.32
AS-21-10no significant results
AS-21-11no significant results
AS-21-12no significant results
AS-21-13no significant results
AS-21-14no significant results
AS-21-15no significant results
AS-21-16no significant results
AS-21-17no significant results
AS-21-18no significant results
AS-21-19no significant results
AS-21-20no significant results
AS-21-21no significant results
AS-21-22no significant results
AS-21-23no significant results
AS-21-24no significant results
AS-21-25no significant results
AS-21-26no significant results
AS-21-27no significant results
AS-21-28no significant results
AS-21-29no significant results
AS-21-30no significant results
AS-21-31no significant results
AS-21-32no significant results
AS-21-33no significant results
AS-21-34no significant results
AS-21-35no significant results
AS-21-36no significant results
AS-21-37no significant results
AN-21-01no significant results
AN-21-02no significant results
AN-21-03no significant results
AN-21-04127.70128.771.071.21
AN-21-04128.77129.350.581.95
AN-21-05no significant results
AN-21-06no significant results
AN-21-07111.68111.830.150.91
AN-21-08no significant results
AN-21-09no significant results
AN-21-10150.00150.820.820.31
AN-21-10150.82151.690.871.63
AN-21-10151.69153.001.310.33
AN-21-11no significant results
AN-21-12no significant results
AN-21-13no significant results
AN-21-14no significant results
AN-21-15no significant results
AN-21-16no significant results
AN-21-17144.48144.520.040.87
AN-21-18no significant results
AN-21-19136.73137.030.301.12
AN-21-19137.03138.000.970.20
AN-21-19138.00138.310.311.41
AN-21-19138.31139.000.690.44
AN-21-19139.00140.001.000.32
AN-21-20139.81140.080.271.19
AN-21-21no significant results
AN-21-22no significant results
AN-21-23136.97137.900.930.31
AN-21-23137.90138.150.251.86
AN-21-24153.00154.091.091.18
AN-21-24154.09155.541.450.93
AN-21-25no significant results
AN-21-26no significant results
AN-21-27no significant results
AN-21-28no significant results
AN-21-29no significant results
DS-21-001no significant results
DS-21-002no significant results
DS-21-002152.0153.01.00.67
DS-21-002153.0154.01.00.89
DS-21-003no significant results
DS-21-004no significant results
DS-21-005102.95103.951.00.40
DS-21-005103.95104.951.00.21
DS-21-005104.95106.041.090.23
DS-21-005106.04106.140.13.00
DS-21-005106.14107.211.070.25
DS-21-005107.21107.420.212.33
DS-21-006no significant results
DS-21-007no significant results
DS-21-008no significant results
DS-21-009171.0172.01.00.96
DS-21-009172.0173.01.00.49
DS-21-009173.0174.01.00.53
DS-21-009173.0174.01.00.58
DS-21-009174.0175.01.00.37
DS-21-009175.0176.01.01.10
DS-21-009348.0349.01.00.14
DS-21-009349.0350.01.00.12
DS-21-009350.0351.01.00.08
DS-21-01062.062.50.50.32
DS-21-01062.563.00.50.31
DS-21-01063.063.50.51.19
DS-21-011no significant results
DS-21-012no significant results
DS-21-013no significant results
DS-21-014101.46102.831.370.61
DS-21-014102.83104.221.390.82
DS-21-014104.22105.721.50.89
DS-21-014115.08116.361.280.72
DS-21-014116.36117.761.41.31
DS-21-014117.76119.051.294.99
DS-21-014144.0145.51.50.10
DS-21-014145.5147.01.50.15
DS-21-014147.0148.51.50.15
DS-21-014209.39210.651.263.12
DS-21-015no significant results
DS-21-016232.0233.01.01.36
DS-21-016233.0234.01.00.17
DS-21-016234.0235.01.00.20
DS-21-016235.0236.01.00.97
DS-21-016236.0237.01.01.54
DS-21-016237.0238.01.00.97
DS-21-017242.0243.01.04.66
DS-21-017243.0244.331.330.65
DS-21-017244.33245.00.670.08
DS-21-018no significant results
SOX-21-01no significant results
SOX-21-02no significant results
SOX-21-03no significant results
SOX-21-04no significant results
* drill core width only, does not represent true width.

Table 3: Localisation of 88 drill holes.

Hole NameEastingNorthingElevationAzimuthDipHole Length (m)
AS-21-015140785389227334149-54276
AS-21-025139945389265333146-46327
AS-21-035139885389196320154-48192
AS-21-045142875389325320148-50177
AS-21-055143625389343321148-49150
AS-21-065143825389319321152-49126
AS-21-075138095389102325151-43279
AS-21-085138365388947323148-45156
AS-21-095137675388873323148-58150
AS-21-105138385389043327151-44189
AS-21-115138205389031328150-45225
AS-21-125138015389012332150-45225
AS-21-135138545388916322142-44102
AS-21-145138435389003335150-45201
AS-21-155138205388975323150-45201
AS-21-165137895388967329149-45201
AS-21-175137785389112327150-45300
AS-21-185137865389040339150-45267
AS-21-195138105388927329148-45156
AS-21-205137985388894332148-45168
AS-21-215137755388943338147-45195
AS-21-225137455388910334147-61186
AS-21-235137345388943339149-62234
AS-21-245137225388827321147-61156
AS-21-255136855388878321151-61183
AS-21-265140955389227330150-55267
AS-21-275140015389216334150-55402
AS-21-285138655389243329149-45282
AS-21-295138745389173329150-60396
AS-21-305137965389190327147-51348
AS-21-315138635389225324151-62432
AS-21-325138465389172326151-57387
AS-21-33513841.15389104323150-45312
AS-21-345139705389309325147-44405
AS-21-355135495388819307141-54222
AS-21-365142385389410325150-45402
AS-21-375142655389355325152-45300
AN-21-01513749.25389543311148-46201
AN-21-02513735.35389516311150-45201
AN-21-03b513935.35389549309151-45135
AN-21-04513903.85389642308149-45252
AN-21-055138335389587309152-45195
AN-21-06513774.85389605313151-44222
AN-21-07513790.65389559312151-45141
AN-21-08513742.95389490308151-44141
AN-21-09513759.35389528312147-45153
AN-21-10513923.35389672308148-47306
AN-21-11513894.55389687307152-50210
AN-21-12513885.15389596307151-49252
AN-21-135138975389609308148-44231
AN-21-145139105389673307150-48180
AN-21-15513927.55389684307150-49180
AN-21-16513825.45389650306150-46258
AN-21-17513902.85389670307150-50180
AN-21-18513842.75389662306149-47249
AN-21-19513946.75389692307149-46180
AN-21-20513950.65389693308148-45180
AN-21-21514361.85389546312334-45186
AN-21-22513974.65389706307149-47180
AN-21-23513979.75389706306150-50180
AN-21-245139375389685307149-49180
AN-21-25513942.65389688307149-50183
AN-21-26513958.65389697306148-47222
AN-21-27513958.35389697307150-51180
AN-21-285139855389715306148-47200
AN-21-29513984.75389716306151-52198
DS-21-001512127.75386267285359-45324
DS-21-0025117935386711315178-43243
DS-21-003511727.95386631303177-46219
DS-21-004511231.35386707279358-46273
DS-21-005512137.45386391289360-44210
DS-21-006512066.65386618307176-43300
DS-21-007511799.25386618306179-42150
DS-21-008512179.85386484295182-75150
DS-21-009511577.15386360294360-45351
DS-21-010511365.45386576283357-52126
DS-21-011511294.65386634281354-52150
DS-21-012511470.95386753303176-61285
DS-21-013511880.65386237287357-44375
DS-21-0145117405386493302180-70255
DS-21-0155116745386322300360-55315
DS-21-0165117135386683310175-47351
DS-21-0175115195386740309176-55282
DS-21-0185115005386425300360-50434
SOX-21-015139925389375317331-44102
SOX-21-02513929.45389332319332-45201
SOX-21-03513973.55389342318328-45141
SOX-21-045140235389316319330-44197

QA/QC

Class 1 Nickel employed a quality assurance and quality control program for the drill program, to ensure leading practice in the sampling and analysis of drill core. This practice includes insertion of certified standards and blanks into the drill core sample stream. Assay samples are taken from NQ-size drill core sawn in half; one-half of the core is shipped to AGAT Laboratories in Mississauga and ALS Labs in Timmins for assay and the other half is kept in the core box on-site for future reference. At AGAT Laboratories, the analytical methods employed consist of four-acid digest followed by sodium peroxide fusion and ICP-OES finish for multi-element analysis (including Ni, Cu, Co and S); fire-assay collection and ICP-OES finish for palladium, platinum and gold; and nickel collection fire assay and ICP-MS finish for the platinum-group elements, including rhodium.

About the 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.

Qualified Persons

All the technical information in this news release has been reviewed and approved by Alex Beloborodov (P.Geo.), geological consultant to the Company, who is a Qualified Person under the definitions established by National Instrument 43‐101.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact: 

David Fitch, President
T: 011 +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.comForward-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.

Class 1 Nickel Announces Key Appointments to Accelerate Exploration at the Somanike Nickel Project in Quebec, Canada

  • Alex Beloborodov joins the Class 1 Nickel Team as the Exploration Manager Quebec and Robin Adair joins as an Independent Geological Technical Advisor
  • Approvals and line cutting have been completed for the ground geophysics program at the Somanike Project
  • Ground EM crew from Geophysique TMC is currently mobilizing on site for a planned 35km time-domain electromagnetic survey (TDEM)
  • TDEM deeper penetrating ground-based geophysics will be deployed to confirm possible extensions to historical mineralization and to identify new drill targets ahead of an extensive drilling campaign in 2022.

TORONTO, March 23, 2022 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce the appointments of Mr. Alex Beloborodov and Mr. Robin Adair to the Class 1 Nickel team to accelerate exploration at the Somanike Nickel Project in Quebec, a komatiite-hosted magmatic sulphide Ni-Cu property, which includes the famous Marbridge Nickel Mine.

David Fitch, President & Director stated: “We are excited to have Alex and Robin join the team to rapidly accelerate the exploration program at Somanike. The geophysical program underway will cover a large portion of the known historical nickel trends as well as the Marbridge Mine and will lead nicely into a comprehensive drill campaign”.   

The famous Marbridge Mine, which was the first nickel sulphide producing mine in Quebec, has not been drill tested in more than five decades and has not been assessed by modern geophysical technologies capable of detecting magmatic sulphide deposits.

Alex Beloborodov is a professional geologist with 11 years of experience in nickel, copper and gold exploration in Quebec and Nunavut. He spent 6 years working in nickel sulphide exploration with various greenfield and brownfield projects as well as working on a producing nickel mine with Canadian Royalties. Mr. Beloborodov has a B.Sc. in Geology from Université du Quebec à Montréal.

Robin Adair is a Professional Geologist and has 37 years in mineral exploration and project development experience with a significant proportion focused on magmatic nickel – copper – PGE projects in Canada with Falconbridge Ltd. He worked directly on the Somanike Project from 2014-2017. Mr. Adair holds a B.Sc. and M.Sc. from the University of Alberta.

Alex Beloborodov stated, “Considering that most of the historical drilling and mining at Marbridge has only ever been shallow work at less than 300 m below surface, the great bulk of the project remains essentially untested. Therefore, we are all keenly interested to see the potential generation of additional nickel sulphide targets.”

The Geophysics program will cover the entire Marbridge trend, the Ataman trend and the Cominco showing as well.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d36e74e-f67b-4925-ac87-69390606e60e

About Somanike Project
The Somanike Project consists of 148 mining titles (mining rights area) covering 6,882 hectares within a large NW-trending ultramafic complex within the Abitibi Greenstone Belt that hosts several nickel sulphide occurrences, recognized nickel targets, ultramafic trends and geophysical anomalies. The project is located in the prolific and mining-friendly Abitibi region of northwestern Quebec approximately 25 km north of the mining centre at Malartic, 40 km northwest of Val-d’Or, and 60 km east of Rouyn-Noranda.

The Somanike Project includes Quebec’s first nickel mine, the historical Marbridge Mine, which was a high-grade nickel mine operated by Falconbridge Nickel. The Marbridge Mine occurs within a large NW-trending deformed and altered ultramafic complex. The Mine produced 702,366 tonnes grading 2.28% Ni and 0.10% Cu from 1962 to 1968, prior to being placed on care and maintenance in 1968. The Mine consisted of two shafts accessing four separate mineralized zones over a combined strike length of 1000 m. The mineralized material was trucked 25 km south and processed at the Canadian Malartic plant. Since 1968, leading groups have reviewed Marbridge data and reports and unanimously concluded that mining ceased in mineralization and the four nickel sulphide zones remain open to expansion by drilling along strike and down-dip/plunge.

Qualified Person
All the technical information in this news release has been reviewed and approved by Alexandr Beloborodov, P.Geo., geological consultant to the Company, who is a Qualified Person under the definitions established by National Instrument 43‐101.

About Class 1 Nickel
Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) is a mineral resources company focused on the development of its 100% owned Alexo-Dundonald Property, a portfolio of komatiite-hosted magmatic sulphide Ni-Cu-Co-PGE mineral resources located near the City of Timmins, Ontario. The Company also owns the Somanike komatiite-hosted magmatic sulphide Ni-Cu property in Quebec, which includes the famous Marbridge Nickel Mine, and the 100% owned River Valley PGE Project located about 65 km northeast of Sudbury, Ontario.

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.comForward-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.

Class 1 Nickel Provides Update on Environmental Baseline Studies at the Alexo-Dundonald Project

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.comForward-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.

Class 1 Intersects 1.47% Nickel Over 1.65 m at Alexo North

TORONTO, Sept. 29, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce intersection of high-grade nickel sulphides in Phase 1 diamond drilling on the Alexo-Dundonald Property near Timmins, Ontario (Figure 1). The goal of Class 1 Nickel’s mineral exploration program is discovery of high-grade (>1% Ni) nickel sulphide deposits for direct shipping to existing mineral processing plants in this region of northeastern Ontario.

Highlights

  • Massive and net-textured nickel sulphides intersected in Alexo North diamond drill hole AN-21-04;
  • Hole designed to test strong plate conductor model to the northeast of the Alexo North Deposit; and
  • Follow-up geophysical surveys and drill programs planned for fall 2021/winter 2022.

Figure 1. Location of the Alexo-Dundonald Property in northeastern Ontario.
https://www.globenewswire.com/NewsRoom/AttachmentNg/0f03e73d-edb3-48ec-9228-af59495e12cc 

Drill Program Results

The summer 2021 program was Class 1 Nickel’s initial drilling on the Property and the first since that completed by Canadian Arrow Mines Ltd. (previous owner) in 2011. Class 1 Nickel’s program consisted of 13 diamond drill holes totalling 2,644 m. The program was planned to test priority targets in the immediate Alexo North Deposit area and to the northeast, interpreted recently from the 2020 VTEM survey flown by the Company and interpretation of borehole electromagnetic (“BHEM”) conductor plate models from historical drill holes. This new drill program was completed by G4 Drilling of Val-d’Or, Quebec, under the supervision of Terra Modelling Services of Saskatoon, Saskatchewan.

At this point, assay results are available for the first four holes of the Phase 1 program. Holes AN-21-01, -02 and -03 did not return significant assay results: however, hole AN-21-04 intersected a high-grade mineralized interval (Figure 2 and Table 1). Assayed samples returned 0.58% Ni over 5.85 m from 123.5 m downhole, including 1.47% Ni (and 0.21% Cu) over 1.65 m of net-textured and massive sulphides from 127.7 m downhole (Figure 3). AN-21-04 was designed to test a strong borehole electromagnetic (“BHEM”) conductor plate model located approximately 100 m north-northeast of the Alexo North Deposit (historical Alexo Mine). The hole deviated away from the BHEM target, but intersected massive sulphides anyway. Holes AN-21-10 and AN-21-11 were also designed to intersect the same BHEM target and intersected massive sulphides (see Company press release dated June 10, 2021), but the assays are still pending from the laboratory. The drill core samples were assayed by AGAT Laboratories of Mississauga, Ontario.

Figure 2. Collar locations of the Phase 1 diamond holes drilled at Alexo North. Holes AN-21-04 and AN-21-10 intersected net-textured and massive nickel sulphides near a strong BHEM conductor (yellow) to the east-northeast of the Alexo North Deposit (red). At this time, assay results are available only for drill hole AN-21-04.
https://www.globenewswire.com/NewsRoom/AttachmentNg/a6bef85f-02ac-4b65-a6fa-b8fa8da908db

          
Table 1. 
Alexo North Assay Results from Phase 1 Drilling 
Hole IDFrom
(m) 
To 
(m) 
Length
(m) 
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t) 
Au
(g/t)
AN-21-01no significant intersections
AN-21-02no significant intersections
AN-21-03no significant intersections
AN-21-04123.51295.850.5800.0810.0280.0660.0170.005
incl.127.71291.651.4700.2060.0610.1380.0080.005
          

Figure 3. Massive sulphide mineralization from drill hole AN-21-04 (red box outline).
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e22e87a-9c66-43e5-a103-ccc5c04fba66

Next Steps at Alexo-Dundonald

The next steps in nickel sulphide exploration at Alexo-Dundonald include:

  • Delivery and interpretation of the remaining assays from the Phase 1 drill holes at Alexo North, Alexo South and Dundonald South from the laboratory;
  • Interpretation of off-hole conductor models from BHEM surveys of Phase 1 holes; and
  • Plan and execute the 15,000 m drill program planned for Phase 2 at Alexo North and Alexo South (see Company press release dated September 23, 2021).

QA/QC

Class 1 Nickel employed a quality assurance and quality control program for the drill program, to ensure leading practice in the sampling and analysis of drill core. This practice includes insertion of certified standards and blanks into the drill core sample stream. Assay samples are taken from NQ-size drill core sawn in half; one-half of the core is shipped to AGAT Laboratories in Mississauga for assay and the other half is kept in the core box on-site for future reference. At AGAT Laboratories, the analytical methods employed consist of four-acid digest followed by sodium peroxide fusion and ICP-OES finish for multi-element analysis (including Ni, Cu, Co and S); fire-assay collection and ICP-OES finish for palladium, platinum and gold; and nickel collection fire assay and ICP-MS finish for the platinum-group elements, including rhodium.

About the 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.

Qualified Persons

All the technical information in this news release has been reviewed and approved by Dr. William Stone (P.Geo.), independent geological consultant to the Company, who is a Qualified Person under the definitions established by National Instrument 43‐101.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact:

David Fitch, President
T: 011 +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.comForward-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.

Class 1 Commences Phase 2 Drilling at the Alexo-Dundonald Nickel Project

  • 15,000 m phase 2 drilling program commenced to expand existing Alexo North and Alexo South Mineral Resources along strike and to depth;
  • Phase 1 borehole electromagnetic (“BHEM”) geophysical surveys have been completed and results modelled for follow-up drill testing in Phase 2; and
  • Phase 1 drill core assay results expected to be delivered starting in October 2021

TORONTO, Sept. 23, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce commencement of a 15,000 m Phase 2 diamond drilling campaign at its Alexo-Dundonald Project near the City of Timmins, Ontario.

The 15,000 m drilling program is planned to continue until late-December 2021. The drilling program is designed to expand the current Mineral Resource Estimates, along strike and down-dip/plunge of the current Mineral Resources. The Phase 2 program will also test priority BHEM and VTEM anomalies outside of the immediate areas of the four known deposits (i.e., Alexo North, Alexo South, Dundonald North and Dundonald South), for the presence of additional high-grade nickel sulphide mineralization.

Class 1 President, Mr David Fitch commented: “The 15,000 m diamond drilling program is progressing as planned following completion of the Phase 1 drilling program. Our main goal is increasing the tonnage of the Mineral Resources at Alexo North and Alexo South. In addition, potential exists for new discoveries. The technical and exploration teams are doing an excellent job in planning and executing the Phase 2 program.”

Figure 1: Alexo-Dundonald Project Map:
https://www.globenewswire.com/NewsRoom/AttachmentNg/761b6e54-5a6b-416a-b7ea-8bc4bfb479ff 

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. The Company is currently drilling to expand the known Mineral Resources and discover new resources to support a Preliminary Economic Assessment.

Qualified Persons 

All the technical information in this news release has been reviewed and approved by Dr. William Stone (P.Geo.), independent geological consultant to the Company, who is a Qualified Person under the definitions established by National Instrument 43‐101.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

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.

Class 1 Nickel Completes Acquisition of Strategic Portfolio of Mineral Claims in Ontario and Quebec

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, Aug. 31, 2021 (GLOBE NEWSWIRE) —  Class 1 Nickel and Technologies Limited (CSE: NICO/ OTCQB: NICLF) (the “Company” or “Class 1 Nickel”) is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) from Platinum Group Elements Limited (“PGEL”) of a strategic project portfolio of adjacent and adjoining claims to the Company’s Alexo Dundonald project in Timmins, Ontario, as well as adjacent and adjoining claims to the Company’s Somanike project in Quebec, and a complimentary primary PGE project in Sudbury Ontario (collectively, the “Properties”). The consideration for the Acquisition consisted of a cash payment of Cdn$550,000 and the issuance of an aggregate of 10,000,000 common shares of the Company (the “Consideration Shares”).  

Pursuant to the Acquisition, the Company has acquired a 100% legal and beneficial interest in the Properties, subject to a 2% net smelter returns royalty on certain claims known as the Timmins claims, River Valley claims and Metals Creek claims, and a 2% gross metal royalty on certain claims known as the Bilson Cubric claims.

PGEL is a private company controlled by a significant shareholder of the Company. Accordingly, the Acquisition is a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61- 101”). The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Acquisition as the Company is listed on the Canadian Securities Exchange and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the Acquisition, insofar as it involves the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

The Consideration Shares are subject to a statutory hold period expiring on December 31, 2021.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact: 
David Fitch, President 
T: 011 +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. 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks related to the prospective nature of the Properties, currency risk, availability of capital, permitting and land title issues, the risks inherent in mineral exploration and development activities, and such other risk factors as are set forth in the Company’s continuous disclosure documents available on SEDAR from time to time. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update the forward-looking statements contained herein other than as required under applicable securities laws.

Class 1 Nickel Announces Execution of Definitive Agreement to Acquire Strategic Portfolio of Mineral Claims in Ontario and Quebec

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, Aug. 23, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (CSE: NICO/ OTCQB: NICLF) (the “Company” or “Class 1 Nickel”) is pleased to announce that it has entered into a definitive agreement with Platinum Group Elements Limited (“PGEL”) providing for the acquisition (the “Acquisition”) by the Company of a strategic project portfolio of adjacent and adjoining claims to the Company’s Alexo Dundonald project in Timmins, Ontario, as well as adjacent and adjoining claims to the Company’s Somanike project in Quebec, and a complimentary primary PGE project in Sudbury Ontario (collectively, the “Properties”). The consideration for the Acquisition consists of a cash payment of Cdn$550,000 and the issuance of an aggregate of 10,000,000 common shares of the Company.

Pursuant to the Acquisition, the Company will acquire a 100% legal and beneficial interest in the Properties, subject to a 2% net smelter returns royalty on certain claims known as the Timmins claims, River Valley claims and Metals Creek claims, and a 2% gross metal royalty on certain claims known as the Bilson Cubric claims.

PGEL is a private company controlled by a significant shareholder of the Company. Accordingly, the Acquisition will be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61- 101”). The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Acquisition as the Company is listed on the Canadian Securities Exchange and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the Acquisition, insofar as it involves the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

The Acquisition remains subject to the satisfaction of various closing conditions and the receipt of all applicable approvals.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact: 
David Fitch, President 
T: 011 +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. 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks related to the satisfaction of all outstanding closing conditions for the completion of the Acquisition, the prospective nature of the Properties, currency risk, availability of capital, permitting and land title issues, the risks inherent in mineral exploration and development activities, and such other risk factors as are set forth in the Company’s continuous disclosure documents available on SEDAR from time to time. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update the forward-looking statements contained herein other than as required under applicable securities laws.

Class 1 Nickel Announces Issuance of Shares and Option Grant to Matachewan First Nation

TORONTO, Aug. 10, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (CSE: NICO/OTCQB: NICLF) (the “Company” or “Class 1 Nickel”) is pleased to announce that it has issued an aggregate of 50,000 common shares (“Shares”) and granted an aggregate of 50,000 stock options to the Matachewan First Nation (“Matachewan”), further to its previously announced memorandum of understanding with the Matachewan dated March 3, 2021 (the “MOU”). The stock options are each exercisable to acquire one Share at an exercise price of $0.87 until February 9, 2023, and vest as to 15% on the date of grant, 20% on September 3, 2021, 25% on March 3, 2022, and as to the remaining 40% on September 3, 2022, in each case provided that the MOU remains in force as of the applicable date.

About Matachewan First Nation 

Matachewan First Nation is an historic northern Ontario First Nation community that has served as the traditional home for many First Nation families. It is still home to a growing community and the First Nation is actively taking part in partnering and working with the resource development industry in establishing mutually beneficial agreements. The First Nation also prides itself in being able to work with industry with a focus on protecting the environment and ecology on their traditional lands in northeastern Ontario. The community is located approximately 30 kms southeast of the town of Matachewan and about 60 km west of the City of Kirkland Lake, Ontario, Canada.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

For more information, please contact: 
David Fitch, President 
T: 011 +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.

Class 1 Announces Completion of Exploration Expenditures on Alexo-Kelex and Dundonald Nickel Properties

  • Required exploration expenditures under acquisition agreements completed
  • 100% ownership of all properties achieved
  • Expansion resource drilling continues, and core has been submitted for assay

TORONTO, July 12, 2021 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO/OTCQB: NICLF) (“Class 1 Nickel” or the “Company”) is pleased to announce that it has completed the requisite minimum exploration expenditures in the aggregate amount of $1,500,000 on its Alexo-Kelex and Dundonald properties (together, the “Properties”), with a minimum of $750,000 of such expenditures being incurred on the Alexo Property (collectively, the “Expenditure Commitment”) and $750,000 on the contiguous Dundonald Property.

The Company previously acquired the Properties subject to the right of the vendors to re-acquire such Properties for a nominal sum in the event that the Expenditure Commitment was not fully satisfied by October 18, 2021. Accordingly, following completion of the Expenditure Commitment, Class 1 Nickel now holds 100% interest in each of the two Properties, subject to a 2% net smelter return royalty on the Alexo Property and a 2.5% net smelter return royalty on the Dundonald Property.

Mr. David Fitch, President of Class 1 Nickel said: “It’s exciting to note that Class 1 has now successfully earned a 100% interest and met all requirements and obligations in all of its projects in Timmins and Quebec. Diamond drilling is continuing, and we are looking forward to updating shareholders on the assay results from the phase 1 drilling campaign.”

About the Properties 

The Class 1 Nickel 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 growing Dundonald nickel sulphide resources to create a large diversified property portfolio. The Company’s 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. The Company is currently drilling to expand the known Mineral Resources and discover new resources to support a Preliminary Economic Assessment. Most recent drilling has encountered more massive sulphides along important strike zones.

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 Timmins, Ontario. The Company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge Nickel Mine.

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