Overview
Tartisan Nickel Corp (CSE:TN)(OTCQX:TTSRF)(FSE:A2D) is a Canadian battery metals exploration and growth firm centered on growing the Kenbridge nickel–copper–cobalt challenge situated in Northwestern Ontario, Canada. Tartisan Nickel Corp., via Minera Tartisan Peru S.A.C, can be starting a bulk sampling program on the Don Pancho property in Peru. The corporate moreover owns the Sill Lake silver–lead property in Sault St. Marie, Ontario. The corporate has an fairness stake in: Eloro Sources Ltd (TSXV:ELO), plus a 2 % internet smelter return (NSR) on the La Victoria asset in Peru; Class 1 Nickel & Applied sciences Inc. (CSE:NICO) plus a 0.5 % NSR on the Alexo-Kelex asset; and Peruvian Metals Corp. (TSXV:PER).
Key Tasks
Kenbridge Deposit Highlights
Kenbridge Deposit Mineral Useful resource Estimates
Tartisan Nickel Corp. revealed (Sedar: September 17, 2020) a NI 43-101 up to date mineral useful resource estimate that outlined a mixed open-pit and underground measured and indicated useful resource of seven.58 Mt at 0.58 % nickel and 0.32 % copper for a complete of 95 million kilos of contained nickel. An extra 0.985 Mt at 1 % nickel and 0.62 % copper (22 million kilos of contained nickel) had been calculated as inferred mineral sources. Particulars of the mineral useful resource estimate are proven in Desk 1.
Open at depth and alongside strike the Kenbridge Deposit hosts a 622 meter shaft and elevated grades at depth.
Tartisan Nickel’s Flagship Mission: Kenbridge Deposit
In 2018 Tartisan Nickel underwent a strategic assessment of how the Firm would transfer ahead in mild of weak funding in metals markets. On the time there seemed to be an rising electrical automobile (EV) motion which Tartisan Nickel thought was going to develop into a driving pressure within the metals market. This pondering result in a merger with Canadian Arrow Mines Restricted, a junior explorer which owned the Kenbridge Nickel Deposit in northwestern Ontario.
The Kenbridge deposit was found in 1937 by Coniagas and is situated in Kenora, Ontario between Fort Frances and Dryden. Falconbridge Restricted acquired the property in 1952, started development in 1954 with a subsequent mining operation lasting for two.5 years. A 609 metre deep shaft with two working ranges had been developed and a bulk pattern was extracted. At the moment, there was no possible option to transfer the ore to services, so it was shut down in 1958. The challenge sat dormant till 2007 when Canadian Arrow acquired the property, accomplished a 40,000 metre drill marketing campaign and proceeded to ascertain a NI 43-101 Useful resource Estimate & Preliminary Financial Evaluation (PEA). (2008, 2010)
The Kenbridge Deposit is situated in a steady political and mining pleasant area (New Gold’s Wet River Gold Deposit is situated 80 km to the south) and has all season street entry to inside 9 kilometres of the deposit. Though the Firm views the 2008 PEA as historic, the underlying useful resource supplies a superb base from which to work. Earlier metallurgical work accomplished by Canadian Arrow highlighted wonderful recoveries and metallurgical properties for the outlined mineralization. The 2008 PEA envisioned a 2,800 tonnes per day mixed open pit and UG operation with a capital expenditure of $108 million. The report had outlined a useful resource of 98 million kilos of nickel and 47 million kilos of copper.
Moreover, there are a number of untested exploration targets on the property, such because the Kenbridge North goal that holds related geophysical traits to the Kenbridge Deposit.
Tartisan Nickel just lately commissioned an replace of the nickel useful resource primarily based on present metallic costs and greenback trade charges.
The corporate just lately offered an replace from the continued 10,000 metre diamond drilling program on the one hundred pc owned Kenbridge Nickel Mission. The Section 1 drill marketing campaign, using 2 drill rigs, is roughly 90 % accomplished. One drill has been mobilized to the Kenbridge North goal the place it is going to full 3 deliberate drill holes, roughly 500 meters every drill gap. The Kenbridge North goal was recognized from a floor primarily based Time Area Electromagnetic (TDEM) survey accomplished in early 2021 and is interpreted to signify related rock varieties that host the Kenbridge Nickel Deposit.
In February 2022, Tartisan introduced it has acquired an extra 27 claims contiguous to the Kenbridge Nickel-Copper Deposit in northwest Ontario, roughly 60 km southeast of Kenora, Ontario. The overall property measurement now consists of 142 patented and unpatented staked items masking 2,637ha.
Kenbridge Useful resource Estimate
In 2008, Canadian Arrow, the property’s earlier proprietor, revealed an NI 43-101 useful resource estimate that outlined a mixed open-pit and underground, historic measured and indicated useful resource of seven.14 million tonnes at 0.62 % nickel, 0.33 % copper. That is supported by an inferred useful resource of 118,000 tonnes at 1.38 % nickel and 0.87 % copper.
In 2021, Tartisan Nickel offered an replace on the ten,000 metre diamond drilling program with two drill machines on the Kenbridge challenge. The corporate intersected 25.6 Metres Of 1.03 % Ni, 0.41 % Cu Together with 2.7 Metres Of two.76 % Ni, 0.88 % Cu.
This system is designed to focus on the down dip and alongside strike extension of the Kenbridge Ni-Cu Deposit. The Firm moreover plans to check the Kenbridge North goal with diamond drilling throughout this present drill marketing campaign. The Kenbridge North goal is situated roughly 2.5 kilometres north of the Kenbridge Nickel Deposit and was recognized from a floor primarily based Time Area Electromagnetic (TDEM) survey accomplished in early 2021. The Kenbridge North goal is interpreted to signify related rock varieties that host the Kenbridge Nickel Deposit. This mixed with the EM signature, Kenbridge North is a excessive precedence drill goal just like the Kenbridge Nickel Deposit mannequin (SEDAR, Might 5, 2021).
Aster Funds Survey of Kenbridge Nickel Mission
Tartisan CEO Mark Appleby stated, “the survey picked out the Kenbridge Deposit and has proven the attainable extension to the Kenbridge Deposit and three extra tendencies that relate on to underlying geology and construction implicit within the Kenbridge Deposit. Of serious curiosity, the survey discovered two gold tendencies as properly, which embrace the Violet and Nina historic gold occurrences. One of many occurrences is sort of 54 hectares in measurement and covers nearly all of three of our staked claims on the border of the Kenbridge property.”
TVM Map for Nickel on the Kenbridge Mission
For the reason that unique magnetic survey by Falconbridge Nickel in 1955, roughly 10 detailed geophysical surveys have been performed over the Kenbridge deposit and property, however none had been deep-seeking geophysical research,” stated Tartisan Nickel CEO Mark Appleby. “Since our buy of the Canadian Arrow belongings in February 2018, we’ve undertaken a cautious assessment of the asset. Our geophysical packages ought to put our entire geophysical database into an actual discovery context in order that once we go to drill the Kenbridge property, we may have the absolute best goal definition.”
The brand new 43-101 useful resource report can be anticipated to make suggestions for development of the Kenbridge challenge together with extra exploration primarily based on the above survey outcomes and research directed on the growth of the deposit right into a mining operation and necessities to advance it to that stage technically and in compliance with rules.
Don Pancho Property
The Don Pancho Mission is in a prolific polymetallic mineral belt in central Peru with a number of working mines within the space together with the world class Iscaycruz and Yauliyacu polymetallic mines operated by GlencoreXtrata Plc situated 50 kilometers to the north-northwest. Moreover, Trevali Mining Company’s Santander silver-lead-zinc mine is situated 9 kilometers to the east and Buenaventura’s silver-lead-zinc Uchucchacua mine is situated 63 kilometers to the north, (10 million ounces of silver produced in 2011). Infrastructure is taken into account wonderful with prepared entry and an influence line crosses the property enroute to the Santander mine.
Historic exploration
The Don Pancho deposit was first recognized in 1997 and was acquired by utility in 2007. So far, $1.5 million has been spent on exploring the property, together with in depth floor mapping and sampling. Moreover, a earlier proprietor, Stellar Mining, additionally performed a 2,021-meter diamond drilling program throughout six holes, all of which intersected zinc-lead-silver mineralizations. Outcomes from this drilling program included grades of as much as 4.4 % zinc, 3.3 % lead and 61 g/t silver over 1.15 meters and outlined an 800 meter by 200 meter uncovered breccia zone on the property.
Upcoming exploration plans
Having analyzed the work performed on the property thus far, Tartisan believes that the subsequent spherical of exploration needs to be performed with drilling at proper angles of the earlier holes.
“The Firm is happy to begin a brand new part of exploration concentrating on lead-zinc-silver-manganese mineralization alongside this in depth altered brecciated zone,” stated Tartisan CEO Mark Appleby. “Moreover being situated in a prolific polymetallic belt, having a greater understanding of the structural controls for finding new mineralized zones and the latest renewed curiosity in zinc, the Don Pancho property is a good alternative for our firm.”
Sill Lake Lead-Silver Property, Ontario
The Firm bought a one hundred pc curiosity in 13 single cell mining claims within the Vankoughnet Township of Sault Ste. Marie Mining District in Ontario, comprising the Sill Lake Mission masking 372.8 ha.The acquisition of the Sill Lake Lead-Silver claims is in step with the corporate’s technique of buying superior properties with long run potential. Sill Lake is a superb challenge to generate shareholder worth within the brief time period via exploration and useful resource growth.
The Sill Lake Lead-Silver Mission consists of 13 single cell mining claims and 4 boundary cell claims which represents 372.8 hectares. Lead-silver mineralization was found at Sill Lake in 1892, when a 30m adit was pushed to a 17m inside shaft, with roughly 40m of lateral growth to use a lead-silver vein. This was later outlined by different explorers together with some 3750m of diamond drilling alongside an outlined steeply dipping mineralized development some 850m in size, with mineralized widths various between 1.5m and 4.5m. The Mission has seen two distinct durations of underground growth and manufacturing and it’s estimated that 7,000 tonnes of ore containing lead and silver had been mined. In 2010, a historic NI 43-101 Technical Report gave a measured and indicated mineral useful resource of 112,751 tonnes at 134 g/t silver; 0.62 % lead, and 0.21 % zinc. The historic useful resource estimate used a silver cutoff grade of 60 g/t; however no cutoff grade for the bottom metallic content material was used.
The Firm has accomplished a Spectral Evaluation survey and a Artificial Aperture Radar survey over the Sill Lake Lead-Silver Mission in early 2020. Essentially the most considerable minerals on the Sill Lake mining claims had been seen to be saponite, a clay mineral from hydrothermal alteration in addition to orthoclase feldspar and kaolinite, the hydrothermal alteration product of orthoclase. Principal minerals attribute of the lead-silver vein had been decided to be galena and goethite. Galena is the principal ore mineral of the low-alpha lead on the Sill Lake Mission, which goethite is the principal alteration product of sulphides like galena.
Because the report notes, “Within the centre of the Sill Lake Claims the lead-silver deposit and underground workings are situated. The spectral evaluation survey outlined a variety of minerals spatially related to the deposit. Utilizing the Goal Vector Mineral (“TVM”) overlap method for the Sill lake Claims a variety of areas of the place three and 4 TVM’s overlaps had been outlined. One space on the claims outlined a normal north-south TVM lead-silver goal zone from 65m to 190m huge and roughly 650m in size.”
Declare Map with Geology, Drilling and Occurances:
Goal Areas on the Sill Lake Claims for Valuable Metals, From Aster Survey
Eloro Sources (TSXV:ELO)
Iska Iska Polymetallic Property
In October 2019, Eloro signed an choice to aquire one hundred pc of the Iska Iska Property in Bolivia masking 900 hectares within the useful resource wealthy Potosi Division. Iska Iska is a street accessible, royalty-free property, wholly-owned by the Title Holder and is situated 48 km north of Tupiza metropolis, within the Sud Chichas Province of the
Division of Potosi. The Property may be labeled as a polymetallic (Ag, Zn, Pb, Au, Cu, Bi, Sn, In) epithermal-porphyry advanced, which overprints an early greater temperature xenothermal part.
Geological mapping on the Property has revealed the spatial and temporal zonation of alteration and vein minerals in an space of about 5 sq. kilometres via the property space.
In August 2019, Eloro carried out preliminary analysis work at Iska Iska that included geological mapping and sampling, whereby 42 channel samples had been collected. The entire channel samples included altered wall rock with widths ranging between 1.20 to five.55m, averaging 2.90 m. 4 underground workings had been sampled, together with the Huayra Kasa which has two branches, one bearing a W-NW route and the second oriented in a North-South route, with the latter showing to be extra enriched in gold.
Moreover, the Santa Barbara, Porco and Mine 2 adits had been sampled, along with two sectors on floor. Chemical assays had been carried out on the ALS Laboratory in each Oruro, Bolivia (preparation) and in Lima, Peru (evaluation).
La Victoria
Situated in Central Peru, the property sits inside a 300-kilometer andean belt which hosts world-class, low-cost gold producers together with Tahoe Sources Inc (TSX:THO) and Barrick Gold Corp (TSX:ABX). It’s supported by wonderful infrastructure together with street entry, water provide and an industrial energy hall inside 4.3 kilometers of the positioning. The property sits at elevations starting from 3,000 to 4,500 meters above sea stage, close by the inhabitants facilities of Huandoval, Pallasca and Cabana.
Mineralization on La Victoria
The La Victoria property is made up of 9 registered mining concessions and has proven 5 main mineralization zones which were the main target of Eloro’s exploration actions: San Markito, Rufina, Victoria, Victoria South and Ccori Orcco.
The vein methods on the property measure between 20 meters to 70 meters huge and as much as 500 meters lengthy, working in a northwest to southeast route.
Since buying the property on the finish of 2016, Eloro has performed a sequence of geological mapping, geophysical survey and sampling actions. Outcomes helped to additional determine the drilling targets for the corporate’s first part of drilling.
Acquisition of Further Nickel-Copper Claims in Northwest Ontario
The Firm has acquired a one hundred pc curiosity within the Glatz, Night time Hazard Nickel-Copper Claims situated roughly 70 kms from the Firm’s flagship Kenbridge Nickel Deposit. The property is located in an space of wonderful infrastructure and consists of 16 declare items. The 16 declare unit property hosts the historic Glatz and Night time Hazard nickel-copper showings. Earlier exploration efforts recognized nickel-copper sulphide mineralization in twelve trenches alongside a 700 metre development on the Glatz nickel copper displaying.
Class 1 Nickel & Applied sciences Inc (CSE:NICO): Alexo-Kelex Nickel Mission
The Firm signed a Definitive Buy Settlement with Class 1 Nickel & Applied sciences Inc. of Perth, Western Australia, formally “VaniCom”, for the sale of a one hundred pc curiosity within the Alexo-Kelex Nickel Mission situated close to Timmins, Ontario. The Alexo-Kelex Mission produced 30,138 tonnes of ore averaging 1.92 % nickel containing 1.3 million kilos of nickel in 2004 and 2005. Traditionally, the Alexo Deposit produced an extra 57,000 tonnes at 3.6% nickel for a complete of 4.5 million kilos of contained nickel.
The Alexo-Kelex Mission incorporates an NI 43-101 compliant useful resource of some 243,000 tonnes of 1.08 % nickel for a contained 5.775 million kilos of nickel. The useful resource additionally incorporates 268,000 kilos of copper and a few 202,000 lbs of cobalt at decrease grades.
The deposits are labeled as Kambalda-style named after related type-deposits occurring in Western Australia. The Alexo and Kelex deposits are composed of huge to semi-massive nickel sulphide accumulations inhabiting basal embayments alongside the footwalls of steeply dipping komatiitic ultramafic volcanic flows. The large, semi-massive sulphides are overlain by stringer, net-textured, blebby and decrease grade disseminated sulphide haloes extending upwards and away from the contact. The flows contact with intermediate volcanic nation rocks. Different komatiitic hosted nickel sulphide deposits and occurrences within the space embrace the Redstone, McWatters, Hart, Langmuir 1 and a pair of, and Texmont.
Peruvian Metals Corp. (TSXV:PER)
Peruvian Metals (TSXV:PER) owns an 80 % curiosity within the Aguila Norte Course of Plant that’s strategically situated simply off the Pan American freeway, close to Peru’s second largest metropolis, Trujillo. Considerable small-scale mining exercise happens in northern Peru however there are only a few unbiased processing services accessible. The Aguila Norte mineral processing plant hosts crushing, milling, gravity separation and flotation circuits with an preliminary throughput capability of 100 tonnes per day. Peruvian Metals is at the moment processing high-grade polymetallic materials and delivering high-value concentrates accessible on the market to the Peruvian metallic buying and selling marketplace for miners. Peruvian Metals and its skilled Peruvian group have been figuring out a number of sources of mineral feed to fill the preliminary course of plant capability. The corporate is properly superior to obtain full permits and licenses which can allow the enlargement of the Aguila Norte Course of Plant. Growth is anticipated to be funded through inside money movement from plant profitability.
Turtle Pond Space Claims
Tartisan Nickel acquired extra claims within the Turtle Pond Space, Northwestern Ontario, roughly 40 km south of Dryden, Ontario. The overall property measurement now consists of 85 staked items masking 1,732.35 ha and the claims are situated roughly 70 kms east of the Firm’s flagship Kenbridge Nickel Deposit. The property is located in an space of wonderful infrastructure and consists of 85 declare items and hosts the historic Glatz, Double E and Night time Hazard nickel-copper showings.
Administration Staff
D. Mark Appleby – President & CEO, Director
Mr. Appleby was appointed President and Chief Government Officer and a member of the Board of Administrators of Tartisan Nickel Corp. in December 2010. Mr. Appleby has over 30 years of expertise in a wide range of disciplines regarding funding banking, company finance and the capital markets. Mr. Appleby’s profession started in 1983, the place he served as an intern at Manulife within the fairness and stuck earnings departments. In 1987 he joined First Boston Canada Ltd., the place he reached the place of Vice-President-Bond Buying and selling. Subsequently, Mr. Appleby has labored as an funding govt with Scotia Mcleod Inc., and is co-founder of The Atlantis Group, a Firm specializing in a wide range of disciplines together with the useful resource sector. Mr. Appleby was additionally a Director of Guyana Goldfields Inc. [TSX: GUY] for 5 years.
Aamer Siddiqui – CFO
Aamer Siddiqui is a Supervisor of Monetary Reporting as MSSI. He’s a Chartered Skilled Accountant and Chartered Accountant who started his profession working in public accounting with certainly one of Ontario’s largest exterior audit companies. He has years of expertise offering monetary advisory, budgeting, Canadian tax and assurance companies to a variety of shoppers. He has in depth expertise serving to quick rising firms handle their reporting necessities in addition to offering precious perception to assist in administration’s strategic selections.
Yves P. Clement – Director
Mr. Clement is knowledgeable geologist with over 28 years’ expertise within the technology, analysis and growth of all kinds of mineral sources hosted by a broad spectrum of geological environments in Canada, South America, and West Africa. He has held Exploration Supervisor and VP, Exploration positions in a number of nations, and has in depth three way partnership technology / challenge administration expertise and hands-on exploration expertise in Archean / Proterozoic greenstone and Andean Cordillera settings, together with: greenstone – hosted lode / shear gold, volcanogenic huge sulphide (VMS), magmatic Ni-Cu-PGM, low & excessive sulphidation epithermal Au – Ag, porphyry Cu – Mo & Au – Cu, Cu-Au skarn, Fe Oxide Cu–Au (IOCG), stratabound volcanic redbed copper (Manto-type), intrusion – associated gold, and lateritic terranes.
Mr. Clement is at the moment VP, Exploration of Xtra-Gold Nickel Corp. (TSX: XTG), a junior mineral exploration firm centered on gold exploration in Ghana, West Africa. Yves is fluent in Spanish and has in depth exploration / challenge administration expertise in Latin American nations, together with: Peru, Chile, Colombia, Ecuador, Venezuela, and Mexico. Previous to becoming a member of Xtra-Gold, he was VP, Exploration of Ginguro Exploration Inc. (TSX-V: GEG) and VP, Company Growth of Golden Sierra Nickel Corp. (Personal Issuer), the place he was liable for the technology of treasured and base metallic exploration alternatives in Chile and Ecuador. Mr. Clement acquired a Geological Engineering Know-how diploma from Cambrian School of Utilized Arts and Know-how, Sudbury, Ontario; and is a member of the Affiliation of Skilled Geoscientists of Ontario (“APGO”).
Douglas M. Flett, J.D. – Director
Douglas M. Flett, J.D., graduated from the College of Windsor Legislation Faculty in 1972 and was known as to the (Ontario) Bar in 1974. He practiced in his personal corporate-commercial regulation agency till 1996 when he retired from practising regulation for a profession within the useful resource business. He continues to be a member of the Legislation Society of Higher Canada. He has been a Director of KWG Sources Inc. (KWG:CNSX) since 2006. He’s a previous Director of Kenora Prospectors & Miners Ltd., and is previous President and at the moment a Director of Fletcher Nickel Inc., and a Director of Debuts Diamonds Inc. Mr. Flett is a member of the Compensation and Audit Committees for Tartisan Nickel Corp. He has accomplished the Rotman Institute of Company Administrators SME Program.
Thomas Larsen – Advisor
Thomas Larsen is an govt within the sources sector with over 40 years of expertise within the funding business, specializing in company finance and administration of junior useful resource firms, elevating in extra of $150 million. Mr. Larsen is at the moment the Chief Government Officer of Eloro Sources Ltd. and Cartier Iron Company. Moreover, Mr. Larsen beforehand held the place of President and Chief Government Officer of Champion Iron Restricted.
Dean MacEachern – Advisor
Mr. MacEachern has thirty years of exploration expertise, seventeen of which had been with Falconbridge Restricted (now Glencore), the place he was concerned with important nickel, copper and zinc discoveries within the Sudbury and Timmins mining camps. He coordinated quite a few base and treasured metals exploration packages at a number of of the world’s main working nickel copper zinc and PGM mining camps, together with the Sudbury, Thompson and Abitibi Nickel Camps, the Kidd Creek VMS Camp in Canada and, the Bushveld PGM Camp in South Africa. He has been concerned in growing tasks with junior exploration firms in Canada, South America, and Europe for base and treasured metallic. Mr. MacEachern was the previous President & CEO of Canadian Arrow Mines Restricted.
Ronald Wortel – Advisor
Mr. Wortel is a finance govt with over 20 years of expertise in useful resource challenge evaluation, transaction due diligence and financing. Beginning in 1997, Mr. Wortel offered fairness analysis protection on the mining fairness sector for promote facet funding banks: Nationwide Financial institution, Dundee Capital and Northern Securities. Initially he coated the main gold firms and transitioned to the junior useful resource sector with an emphasis on close to time period manufacturing tales. In 2006, he joined Pathway Asset Administration, a useful resource fund offering movement via funding to exploration firms. Right here Mr. Wortel reviewed a whole lot of gold and different useful resource tasks because the fund positioned over $1 billion into the sector.
