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Nickel Creek Platinum Announces Proposed 2020 Exploration Drill and Geophysics Program at Nickel Shäw and Non-Brokered Private Placement of up to $4.4 Million
Nickel Creek Platinum Announces Proposed 2020 Exploration Drill and Geophysics Program at ...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nNickel Creek Platinum Announces Proposed 2020 Exploration Drill and Geophysics Program at Nickel Shäw and Non-Brokered Private Placement of up to $4.4 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 11, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/\n TORONTO, March 11, 2020 /CNW/ - Nickel Creek Platinum Corp. (TSX:NCP) (\"Nickel Creek\" or the \"Company\") is pleased to announce that it intends to conduct an exploration drill, geophysics and sampling program during the third quarter of 2020 at its 100%-owned Nickel Shäw Project (the \"Project\") located in the Yukon, Canada and a proposed non-brokered private placement for gross proceeds of up to $4.4 million. \nIn connection with the Private Placement, the Company's largest shareholder, Electrum Strategic Opportunities Fund L.P. (\"Electrum\"), has agreed to purchase any Units that are unsubscribed for under the Private Placement up to a maximum backstop commitment of $2.2 million.\nOn December 18, 2019, the Company announced the results of its geophysics program on the Quill exploration target, which is adjacent to the main resource, but within the Nickel Shäw project land package. The results of the geophysics program, which was designed to target areas of massive sulfides, identified several strong conductors and supports the Company drill testing some of these targets. The Company has identified two main target areas for drill testing (see Figure 2, December 18, 2019 news release). Target A was modelled as several plates spanning an overall strike length of 800 metres and a dip extent of 200 metres. Target A has a conductivity-thickness greater than 5,000 Siemens, strikes east-northeast and dips steeply to the south-southeast, and is located south of the interpreted ultramafic sill-country rock contact in the structural hanging wall ...