Canada Nickel Delays PEA Until April Following Further Positive Recovery Tests
Canada Nickel Corp (TSXV: CNC) this morning announced that it will be delaying the release of its preliminary economic assessment yet again for their flagship Crawford nickel-cobalt sulphide project. The delay this time is a result of positive metallurgical testing results.
This marks the second time the company has delayed the PEA for the property, the first having followed arrangements made with Glencore for the use of the Kidd concentrator and metallurgical site. At the time, the report was delayed until March 2021. The preliminary economic assessment is now delayed until April 30, 2021.
The latest delay was announced in conjunction with the news that further metallurgical testing at the site has seen positive results, with the company demonstrating that a 20% increase in grind size resulted in no material change in recovery rates. The impact of this is significant, as it will enable the company to reduce the amount of energy used to grind each tonne of material by approximately 15%. In short, it means higher throughput and lower costs per tonne.
The data was collected following tests conducted last month, where the firm compared changes in recovery for coarser primary grinds of 165 microns and 180 microns, versus the 150 micron size reported in the results released in January. An improved reagent combination resulted in no change in recovery for the firm. The impact is a modified flowsheet, which is expected to be finalized by year end for a feasibility study.
Canada Nickel Company last traded at $3.64 on the TSX Venture.
Information for this briefing was found via Sedar and Canada Nickel Company. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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