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North American Nickel Congratulates PNR on Signing Asset Purchase Agreement to Acquire Selkirk Mine in Botswana
Vancouver, British Columbia--(Newsfile Corp. - February 14, 2022) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company" or
About this update from Nexmetals Mining Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 14, 2022) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the \"Company\" or \"NAN\") is pleased to announce that Premium Nickel Resources (\"PNR\"), has executed a definitive asset purchase agreement (the \"Selkirk APA\") with the Liquidator of Tati Nickel Mining Company (\"TNMC\") to acquire the Selkirk nickel-copper-cobalt-platinum-group metals (\"Ni-Cu-Co-PGM\") Mine and surrounding prospecting licenses and infrastructure formerly operated by TNMC. PNR is targeting the closing of the Selkirk APA, and transfer of ownership of the asset, within 120-days. PNR has been undertaking due diligence work programs on Selkirk since being selected as the preferred bidder in the TNMC liquidation process and entering into a memorandum of understanding (\"MOU\") providing for a six-month exclusivity period. During the 120-day closing period, PNR has stated it will be preparing to execute a drill program with the ambition to bring the 2016 bankable feasibility study to NI 43-101 compliance. NAN holds a 10% equity interest and has a right to purchase an additional undiluted 15% equity interest for US$10 million. NAN also provides corporate management and technical expertise to PNR on a contractual basis. NAN CEO Keith Morrison commented, \"The execution of the Selkirk APA combined with the recent completion of the transfer of ownership of the Selebi and Selebi North Mines, completes the assets that PNR is purchasing from the BCL and TNMC liquidations in Botswana. NAN will continue to support PNR as it moves forward with closing of the transaction and assuming the ownership of the Selkirk Mine.\" The legacy underground Selkirk Mine is situated 28 km south-east of the town of Francistown, and 75 km north of the Selebi Mines. BCL acquired TNMC from Norilsk Nickel through a purchase agreement that was finalized in October 2014. Norilsk was preparing Selkirk as an open pit operation and had completed Definitive Feasibility Studies in 2012 and 2013. Selkirk was then advanced to a bankable feasibility in 2016 as an open pit resource. PNR has been diligently collecting new data, including a sampling program of HQ size core from five previously unsampled drill holes. Approximately 288 kgs of representative ore was processed as a metallurgical sample. The subsequent ...