Canada Nickel advances surface right access for Crawford project
TSX-V-listed Canada Nickel Company has signed two definitive agreements for it to gain access to 32 000 acres of surface rights prospective for nickel.
The agreements, signed with Noble Mineral Exploration and a primary surface rights holder in Crawford, marks a critical step in the company’s permitting process and construction decision on the Crawford mine this year.
As part of the surface rights agreement, Canada Nickel will transfer 47 750 acres of mining rights in the Kingsmill and Mabee townships—where no known exploration targets exist—to the surface rights holder
This transfer aims to create future certainty over a substantial area of land, facilitating the effective development of sustainable forestry and wildlife habitat preservation.
Additionally, Canada Nickel will issue 5.5-million shares to the surface rights holder.
“We are proud of our progress in unlocking the potential of the Crawford project and the Timmins Nickel District, building a future that benefits the environment and supports future generations,” says Canada Nickel CEO Mark Selby.
The other agreements cements Canada Nickel’s partnership with Noble to incorporate certain mining properties, including the existing Mann joint venture, into a new private company. This will consolidate the respective companies’ interests in a portolio of nickel projects northeast of Timmins, in Ontario.
As part of the transaction, Canada Nickel will consolidate ownership of the mining rights and access to the surface rights for certain key patents in Aubin, Crawford, Carnegie, Dargavel, Kidd, Lennox, Lucas, Nesbitt, Prosser, and Wark townships currently held by Noble, which facilitates and simplifies future development of Crawford and other nearby regional properties held by Canada Nickel.
The transaction and formal formation of the new company is expected to close by the end of the month and is still subject to approval by the TSX
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