{"id":1169464,"date":"2020-03-04T15:15:12","date_gmt":"2020-03-04T21:15:12","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016133"},"modified":"2020-03-04T15:15:12","modified_gmt":"2020-03-04T21:15:12","slug":"canada-nickel-expands-crawford-holdings","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1169464","title":{"rendered":"Canada Nickel expands Crawford holdings"},"content":{"rendered":"<p>Shortly after&nbsp;<a rel=\"noreferrer noopener\" aria-label=\"releasing a maiden resource (opens in a new tab)\" href=\"https:\/\/www.mining.com\/canada-nickel-tables-maiden-crawford-resource\/\" >releasing a maiden resource<\/a>&nbsp;for its wholly-owned Crawford nickel-cobalt sulphide project near Timmins, Ontario,&nbsp;Canada Nickel (TSXV: CNC)<strong> <\/strong>has announced an agreement with&nbsp;Noble Mineral Exploration&nbsp;to acquire one additional property and entered into option agreements on five additional holdings nearby.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>\u201cGiven our demonstrated success at Crawford, this transaction provides us the larger footprint to fully develop Crawford, along with additional exploration targets, which can potentially host nickel-cobalt deposits that are similar to Crawford,\u201d Mark Selby, Canada Nickel\u2019s chairman and CEO, said in a release.<\/p>\n<p>The company has agreed to pay Noble C$500,000 and issue 500,000 of its shares to acquire the 49-sq.-km Crawford Annex holding with a further option to acquire up to an 80% interest in five additional target areas within a land package covering 706 sq. km. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The company has agreed to pay Noble C$500,000 and issue 500,000 of its shares to acquire the 49-sq.-km Crawford Annex  <\/p>\n<\/blockquote>\n<\/figure>\n<p>These individual properties range in size from 9 sq. km to 55 sq. km and one is contiguous with the expanded Crawford grounds.<\/p>\n<p>Under the terms of the option agreement, Canada Nickel can earn up to an 80% interest in each of the five properties, initially through spending at least $500,000 on exploration and development at each over a two-year period and making a payment of $250,000 in cash or shares to Noble for a 60% stake. <\/p>\n<p>The company can then increase its interest in each property to 80% within three years by spending a further $1 million on exploration and development at each option holding.<\/p>\n<p>If Canada Nickel earns a 60% or 80% interest in any of the option grounds, a joint venture would then be formed with a 2% net smelter royalty granted to Noble on the portion of the property containing mining claims.<\/p>\n<p>The 706-sq.-km land parcel is adjacent to&nbsp;Glencore\u2019s&nbsp;Kidd operations, one of the world\u2019s deepest base metals mines.<\/p>\n<p><em>(This article first appeared in the&nbsp;<\/em><a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\"><em>Canadian<br \/>\nMining Journal<\/em><\/a><em>)<\/em><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 706-sq.-km land parcel is adjacent to Glencore&rsquo;s Kidd operations, one of the world&rsquo;s deepest base metals mines.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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