From GlobeNewswire: 2024-11-14 12:30:00

Class 1 Nickel and Technologies Ltd. has filed its NI 43-101 Technical Report for the Dundonald South Nickel Sulphide Deposit in Ontario, confirming high-grade nature of the four nickel deposits. The D-S Deposit contains 776,000 t at 1.0% Ni, with 87% of Ni lbs and 41% of tonnes in the Indicated category, signaling excellent exploration potential.

The updated Mineral Resource Estimate for the Dundonald South Deposit shows significant increases in Indicated Resources, with a total of 2.54 Mt at 0.49% Ni and 27.4Mlbs Ni. The deposit is open along strike and at depth, providing ample targets for future drilling and exploration. The total Mineral Resources within the 4 nickel sulphide deposits now stand at 3.4 Mt at 0.54% Ni Indicated and 5.9 Mt at 0.61% Ni Inferred.

CEO David Fitch is pleased with the progress on updating the mineral resources, highlighting the economic potential of the komatiite-hosted nickel deposits. Plans for Phase 2 drilling and exploration programs in 2025 aim to expand resources and complete an initial Preliminary Economic Assessment. The updated MRE for the D-S Deposit was completed by Atticus Geoscience Consulting and Caracle Creek Chile SpA.

The Alexo-Dundonald Nickel Sulphide Project, located near Timmins, Ontario, includes 4 nickel deposits with excellent exploration upside. Class 1 Nickel aims to expand mineralization and resources through a Phase 2 drilling program and future exploration initiatives. The company also holds a 100% interest in the River Valley PGE Project near Sudbury, Ontario.

The Company’s focus is on exploration and development of its nickel sulphide projects, aiming to advance the A-D Project back into production. With extensive property packages and past-producing nickel mines, Class 1 Nickel sees significant potential for growth and production opportunities. Current efforts are directed towards expanding resources and advancing the A-D Project towards a Preliminary Economic Assessment study.



Read more at GlobeNewswire: Class 1 Nickel Announces Filing of Updated Dundonald South