(TheNewswire)
January 6, 2021 – TheNewswire - Vancouver, BC, Canada - Nickel Rock Resources Inc. (“the Company”) ( TSXV:NICL ) , ( OTC:NIKLF ) is pleased toannounce that in the previous two weeks, alloutstanding warrants issued as part of the January 29, 2019 privateplacement have been exercised for total funds of $452,000.
All 4,520,000 share purchase warrants exercisable at$0.10 per share that were due to expire on January 29, 2021 have beenexercised.
The infusion of equity indicates that the shareholdersare confident in the future of Nickel Rock. The proceeds receivedwill allow the Company to accelerate the Company’s explorationprogram on its Nickel exploration projects located in BC, as well asour Lithium project located in Clayton Valley, Nevada.
About Nickel Rock Resources Inc. www.nickelrockresources.com
Nickel Rock Resources Inc is a Canadian-based mineralexploration company with a highly focused effort on exploration forhigh value battery metals required for the electric vehicle (EV)market. In addition to our existing Clayton Valley lithium projectthe Company recently announced several acquisitions resulting in asignificant property package prospective for awaruite, a naturallyoccurring nickel-iron alloy important in the manufacture ofenvironmentally efficient batteries for the electric vehicle marketsglobally.
The Mount SidneyWilliams Group consists of five claim blocks in four groups with atotal area of 6,125.32 hectares in the area surrounding Mount SidneyWilliams, both adjoining and in close proximity to the Decar projectof FPX Nickel Corp. (TSXV:FPX) , located 100 kilometres northwest of Fort St. James, B.C.,in the Omineca Mining Division. Metallic mineralization includesnickel, cobalt, and chromium. At least some of the nickelmineralization occurs as awaruite.
The Mitchell Range Grouparea claim consist of two contiguous claim blocks covering 3,134.70hectares with demonstrated metallic mineralization including nickel,cobalt, and chromium. Nickel-cobalt mineralization has not been wellexplored, but the presence of awaruite has been documented. TheCompany is planning detailed exploration for the upcoming explorationseason. The acquisition of the Hard NickelGroup and the Nickel 100 claims are subject to TSX Venture Exchangeapproval.
Lithium Project
The Clayton Valley Project is an early-stage lithiumbrine prospect in Esmeralda County, Nevada. A total of 77 placerclaims covering about 640 ha (1,500 acres) were staked over thewestern side of the Clayton Valley playa. The property position coversan inferred graben bounded by the Silver Peak range front on the westand Goat Island on the east. The exploration concept infers thegraben is a sub-basin of the larger Clayton Valley basin and mayrepresent a secondary trap for both lithium brines and lithium bearingmontmorillonite clays within the greater system.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcoming work programs, geologicalinterpretations, receipt and security of mineral property titles,availability of funds, and others are forward-looking. Forward-lookingstatements are not guaranteeing future performance and actual resultsmay vary materially from those statements. General business conditionsare factors that could cause actual results to vary materially fromforward-looking statements.
Copyright (c) 2021 TheNewswire - All rights reserved.