- Premium Nickel Resources (PNRL) has acquired the nickel, copper, cobalt, platinum-group elements Selkirk Mine in Botswana
- The acquisition includes associated infrastructure and four surrounding prospecting licences formerly operated by Tati Nickel Mining Company
- The acquisition was completed in line with an asset-purchase agreement with the Liquidator of TNMC
- PNRL is a Canadian company dedicated to the exploration and development of high-quality Ni-Cu-Co resources
- Premium Nickel Resources Ltd. was unchanged at $2.20 at 10:10 AM ET
Premium Nickel Resources (PNRL) (formerly North American Nickel) has acquired the Selkirk Mine in Botswana.
Included in the acquisition are associated infrastructure and four surrounding prospecting licences formerly operated by Tati Nickel Mining Company.
The acquisition was completed in line with an asset-purchase agreement with the Liquidator of TNMC.
The completion of this acquisition has effectively transferred ownership of the Selkirk Mine to PNRL.
The company began comprehensive due diligence programs on the Selkirk Mine in 2020 and has since continued to verify old data and collect new data, including completion of a ‘concept-level’ metallurgical study.
The metallurgical testing at SGS Lakefield, Ontario, Canada, will help establish the company’s re-development plan to produce separate copper and nickel-cobalt concentrates.
“Completing the transfer of ownership of the Selkirk Mine concludes PNRL’s announced asset purchases with the Liquidator of TNMC in Botswana,” said Keith Morrison, CEO.
“On a voluntary basis, PNRL will move forward with completing its initial NI 43-101 technical report on Selkirk and the surrounding prospecting licences,” he added.
The Selkirk Mine is situated 28 kilometres south-east of the town of Francistown, and 75 kilometres north of the 100-per-cent-owned Selebi Mines.
The Selkirk mining licence covers approximately 14.6 square kilometres and the four prospecting licences cover 126.7 square kilometres.
Production at the Selkirk Mine occurred between 1989 and 2002, with Anglo American mining high-grade Ni-Cu massive sulphides and producing 1 million tonnes at 2.6 per cent Ni (nickel) and 1.5 per cent Cu (copper).
PNRL intends to complete a technical report, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), to advance its understanding of the Selkirk property.
PNRL is a Canadian company dedicated to the exploration and development of high-quality Ni-Cu-Co resources.
Premium Nickel Resources Ltd. was unchanged at $2.20 as at 10:10 AM ET.