(TheNewswire)
February 10, 2021 - TheNewswire - Vancouver, BC,Canada - Nickel Rock ResourcesInc. (“the Company”) ( TSXV:NICL ) ( OTC:NICKLF ) is pleased toannounce that our consultant has filed a Noticeof Work application for a multi-year area-based work permit for NickelRock Resource’s Nickel Project. The Company’s prospective landposition adjoins to the west of the Decar Nickel Project owned by FPXNickel Corp. The Company now controls a 100% interest in over 13,704hectares in the district. nickelrockresources.com/hardnickelgroup .
The proposed work program consists of trenching,surface exploration diamond drilling, camp construction, and otherexploration activities such as soil sampling, rock sampling,prospecting, and geological mapping. The company proposes a 12-man,helicopter-supported camp to be built in a cirque on the north slopeof the un-named mountain immediately west of Mount Sydney Williams
next to a sub-alpine lake at the headwaters of VanDecar Creek. The camp location was selected based on past explorationcamps at this same location and will be used to accommodate fieldpersonnel.
About the Hard Nickel Project
The subject claims are partially underlain by rockslike those hosting the Decar project of FPX Nickel wheremineralization includes nickel, cobalt, and chromium. Previousexploration suggests that at least some of the nickel mineralizationoccurs as awaruite which is a naturally occurring nickel-iron alloyimportant in the manufacture of environmentally efficient batteriesfor the electric vehicle markets globally. The mineral awaruite isboth highly magnetic and very dense and is therefore amenable toconcentration by mechanical processes including magnetic and gravityseparation. This style of deposit is unique and presents considerablemetallurgical and processing cost saving advantages.
Significantly, the awaruite found is found in aserpentinized ultramafic rock. In 2018, G. Dipple at the University ofBritish Columbia began the Geoscience BC funded research project“Carbon Mineralization Potential Assessment for BC” scheduled forcompletion in early 2021. In late 2020 a preliminary assessment reportwas published. One of the key items from the report was“ The use of reactive serpentinite tailingsfrom nickel mining as a carbon sink has the potential to make nickelmining carbon neutral or a net carbon sink. ”The presence of serpentinized ultramafic rocks has been repeatedlydocumented in the areas covered by the claims of the Nickel RockProjects, as well as at FPX Nickel Corp.’s Decar Project (Dipple, G.et.al., Geoscience BC Report 2020-15).
The Company has seen the commodity spot price fornickel to be in a steady uptrend while world stockpiles have been onthe decline and EV manufacturers are calling for more supply of nickelbecause nickel quantities are increasing in batteries as they increasethe amount of charge a battery can hold, thus allowing the EV’s totravel greater distances. One such company is Tesla Inc. (NASDAQ:TSLA), the world’s leading EV manufacturer. Tesla’s Founder, Elon Musk, stated that alarge contract would be signed if a company could produce nickel witha lowered carbon footprint by using more environmentally friendly waysof mining. His comments made waves in the nickelspace and several juniors have benefited from his comments and surged2 to 3 times their value.
Clayton Valley Project, Silver Peak,Nevada
The Company is exploring for lithium clays and brineswithin its project area of 118 claims covering over 930 hectares(2,300 acres). The property stretches in a northwest direction fromthe evaporation ponds of Albemarle Corporation NYSE : ALB. Ithas been widely reported that Albemarle is planning to double its lithium productionby 2025 by committing between US$30 million and US$50 million inadditional investment on the property. In 2021, Albemarle plans tocommence exploration of clay and evaluate technology that couldaccelerate the viability of lithium production from clay resources inthe region.
Clayton Valley lithium mineralization occurs both inbrine and in montmorillonite clays within sediments to a depth of over150 meters. Recent metallurgical testing indicates low-cost processingcan be achieved by leaching with low acid consumption (125 kg/t)resulting in lithium recoveries of over 85%. These high extractionsprove the dominant lithium-bearing minerals present are not hectorite,a refractory clay mineral which requires roasting and/or high acidconsumption to liberate the lithium. Testing byother companies on their lithium clay properties, including LithiumAmericas (Thacker Pass Project, Nevada), Bacanora Minerals (SonoraProject, Mexico), Ioneer (Rhyolite Ridge Project) and CypressDevelopment (Clayton Valley Project) have all indicated that economicextraction of the lithium may well be possible.
Qualified Person
Jacques Houle, P.Eng., a qualified person as defined byNI 43 - 101, is responsible for the technical information contained inthis release. Readers are cautioned that the information in this pressrelease regarding the property of FPX Nickel Corp is not necessarilyindicative of the mineralization on the property of interest.
About Nickel Rock ResourcesInc. www.nickelrockresources.com
The Company is a Canadian-based mineral explorationcompany active in the exploration for nickel-iron alloy in BritishColumbia and lithium in Nevada. Nickel Rock Resources Inc. is aCanadian based exploration company whose primary listing is on the TSXVenture Exchange. The Company’s maintains a focus on explorationfor high value battery metals required for the electric vehicle (EV)market.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
604- 4 28-5690
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, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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