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Avante Announces Acquisition of 1446199 B.C. LTD.
Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Avante Mining Corp.   (TS...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"Avante Announces Acquisition of 1446199 B.C. LTD.Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Avante Mining Corp. (TSXV: AVA) (OTC Pink: ACPRF) (FSE: P210) (\"Avante\" or the \"Company\"), a Canadian nickel-focused exploration company, is pleased to announce that it has entered into a share purchase agreement dated March 4, 2024 (the \"Agreement\") with 1446199 B.C. LTD. (\"1446\") and all of the shareholders of 1446 (the \"Vendors\") to acquire 100% of the issued and outstanding shares of 1446 (the \"Transaction\"). 1446 is the owner of a 100% interest in 13 mining licenses totalling 17,375 Hectares (the \"Property\") which adjoin the Company's Pipestone Project in central Newfoundland.Project Highlights:Increased project size, covers approximately 210 square kilometres of mineralized belt;Avante is the first company to target awaruite (nickel-iron alloy) in this region since 2012;Increased size secures the majority of the nickeliferous Pipestone ultramafic complex;Historical drilling in the north Property area re-assayed up to 0.27% Ni and 0.22% Ni over the entire hole of 87.15 metres (bottomed in mineralization) and remains open in all directions (NFLD/3284);Good infrastructure with existing road access extending onto the Property and a hydroelectric generating station located approximately 15km south of the Property; andMajor expanded regional compilation underway to allow acceleration through early-stage exploration on the Property.Adrian Smith, CEO, comments, \"This acquisition represents a significant step forward for Avante, effectively securing the vast majority, over 40 kilometres, of the Pipestone ultramafic belt that is known to host nickel and other mineralization. The Pipestone belt was identified by Cliffs Natural Resources Inc. (\"Cliffs\") as a high probability region to define a bulk tonnage nickel deposit. We are excited to gain the opportunity to follow through on the work started by Cliffs and are excited to begin working on this massive project area.\"Pursuant to the Agreement, the Company will purchase all of the issued and outstanding shares of 1446 (the \"1446 Shares\") from the Vendors in consideration for 15,690,001 common shares of the Company (the \"Payment Shares\"), on the basis of one Payment Share for each one 1446 Share. In accordance with the terms of the Agreement,...