Paullee
3 years ago
Giga starts Brazilian drill program targeting Sedimentary-hosted Copper occurrences
____
(Vancouver) – Mark Jarvis, CEO of Giga Metals Corp. (TSX.V: GIGA) (OTCQX: HNCKF) (FSE: BRR2) announced today the commencement of a first phase reconnaissance drilling program to test the potential of a series of priority targets generated during 2021 at its Sedimentary-hosted Copper Exploration Project, in the state of Piaui, Brazil (see press release dated 21st February 2021).
The drill targets on the 16,858-hectare Corrente Property (see Figure 1) to be tested by this initial program are defined by:
copper mineralization intersected by five historical well boreholes (BH-A to E) within sequences of the prospective clastic and carbonate rocks of the Cambrian Araçá Basin;
anomalous copper and associated pathfinder element results (Ag, Ba, Co, In, Sb and Tl) in contiguous stream sediment samples; and,
association or coincidence with larger regional faults which are expressed as regional lineaments and are evident in the regional magnetic data.
“Our initial program will be 10 holes with a roto-percussive drill at an average planned hole depth of 150 meters at an approximate spacing of 500m to 1000m,” said Mr. Jarvis. “These boreholes aim to demonstrate the presence of copper mineralization associated with the targeted prospective stratigraphy at relatively shallow depth and interpreted ‘feeder structures’ believed to be associated or coincident with larger regional faults.”
The geological setting is reminiscent of well-known sediment-copper mineralization occurrences around the world including less metamorphosed portions of the Central African Copper Belt and the Kupferschiefer (“copper shale”), the latter currently mined by KGHM in Poland, and known to extend for hundreds of kilometres across northern continental Europe as a narrow sub-unit up to two metres thick within the Southern Permian Basin.
Reconnaissance field work undertaken by Exploration Outcomes Ltda. of Sao Paulo on behalf of GIGA has revealed evidence of both oxide and sulphide sediment-hosted copper mineralization in historical drill cuttings from five widely spaced groundwater wells examined across the Corrente Property. Non-representative grab samples from abandoned historical borehole cuttings comprised of brown and light green siltstone and calcisiltstone with malachite fracture coatings produced values up to 0.58% copper and 0.31% Cu (BH-A, sample MAC121A, and BH-B, sample MAC106A, respectively).
Roto-percussive borehole testing to 150 metre depths is being employed by GIGA as an economical means to penetrate the overlying lower sequences of the Parnaiba Basin rocks and sample the copper enriched upper siltstone units of the Cambrian Araçá Basin. Southern Piauí state is remote and semi-arid region of Brazil where access away from town centers is limited. Neither the Araçá Basin rocks, nor the sediment-hosted copper occurrences associated with them are well studied or explored. The near flat-lying sedimentary rocks of both the Parnaiba Basin and more local Araçá Basin further hinder prospecting in the region where sedimentary profiles are not well exposed.
Geochemical stream sediment samples were collected at 114 sites within the Rio Corrente drainage basin ranging from 2.5 to 32.9 parts per million (ppm) copper. Anomalous results occurred in clusters ranging between 10.1 ppm copper and 32.9 ppm copper (23 sites). Regionally, values ranged from 2.2 ppm copper to 89.9 ppm copper (149 samples total).
All samples were submitted to ALS Global analytical labs for sample preparation at Belo Horizonte, Brazil and multi-element Induced Coupled Plasma (ICP) analysis in Vancouver, Canada and Lima, Peru.
The scientific and technical information contained in this news release has been prepared, reviewed and approved by David Tupper, P.Geo. (British Columbia), a Qualified Person (“QP”) within the context of Canadian Securities Administrators’ National Instrument 43-101; Standards of Disclosure for Mineral Projects (NI 43-101).
ThSeeker
3 years ago
More reasons to invest in Giga
...Given the expected rapidly rising demand for critical minerals, however, recycling will only ever be able to cover a modest percentage of all demand for critical minerals, and the development of new sources must be a priority.The U.S. government must also look at the entire value chain for the critical minerals industry, from extraction through to end use products. To do this effectively, the federal government must engage in strategic investment collaboration with the private sector and state governments to develop indigenous resources here in the U.S. This collaboration must focus on creating the right climate for investment, which means providing a stable and streamlined reg-ulatory environment, as well as looking at incentives to bring other parts of the value chain (including re?n-ing, processing and the manufacture of primary use products) to the United States and allied countries
Concluding thoughts
America is currently poorly prepared to face the challenge of securing its critical minerals supply chain. China has already moved a long way ahead of the U.S., and this will compromise America’s attempts to compete internationally, while also meeting climate change goals. To overcome this poor preparation, the U.S. government must work hand in hand with business and with overseas allies to build its own capacity in both mining and processing, and to collaborate in resource development in friendly countries. Furthermore, the U.S. must work with allies and partners to develop a global regime to improve environmental, social, and governance standards by establishing and enforcing rules that will level a playing ?eld that is currently tilted heavily in the favor of Chinese ?rms.Central to all of these endeavors will be the ongoing cooperation between the U.S. government and the private sector. Stakeholder dialogue is an absolute necessity if the attempts to make America’s critical minerals supply chains more resilient are to be effective. Working with the market rather than against it, harnessing the potential of American enterprise and innovation, and joining with our allies around the world will provide the U.S. with the tools it needs to address the China challenge and to meet its climate ambitions.
PURA VIDA
3 years ago
In total agreement with you. I have the live chart, ladder, T&S and level II on HNCKF on one of my screens always. I want to be in this
for the long-haul, but I do trade as well as it makes me happy if I can pay all my monthly bills with the "trade money". (I'm retired)
Gap fills don't have to happen, but they do seem to happen especially with the new algorithm software that is controlling the price action.
As you say, once the right catalyst comes into play (JV or other) and talk of development begins - OFF TO THE MOON.
Paullee
3 years ago
NEW YORK , Aug. 10, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Giga Metals Corp (TSX-V: GIGA) (OTCQX: HNCKF), a mineral exploration and development company, has qualified to trade on the OTCQX® Best Market. Giga Metals Corp upgraded to OTCQX from the OTCQB® Venture Market.
Giga Metals Corp begins trading today on OTCQX under the symbol "HNCKF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
"We are very pleased that we have graduated to the OTCQX," said Giga CEO Mark Jarvis . "We believe that the company's goal to be carbon neutral and to provide a large, long life, ethical supply of nickel for the EV market is a key to the global move to decarbonization."
About Giga Metals Corp
GIGA Metals Corporation is a mineral exploration and development company focused on metals critical to modern batteries, especially those used in Electric Vehicles and Energy Storage. The Company's core asset is the Turnagain Project , located in northern British Columbia , which contains one of the largest undeveloped sulphide nickel and cobalt resources in the world.
Paullee
3 years ago
Mining News
Global nickel market may turn into deficit by 2023 - report
Vladimir Basov
Monday June 07, 2021 15:30
Kitco News
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(Kitco News) - According to the Australian Government's Department of Industry, Science, Energy and Resources (DISER), global nickel production in 2020 suffered due to multiple mine closures and disrupted production due to the pandemic’s lockdown effect, and the total mined nickel of 2.4 million tonnes was down 12% compared to 2019.
DISER said that through 2021, nickel production is expected to recover to 2019 levels of around 2.6 million tonnes. Indonesia’s ore export ban and potential halts to New Caledonia’s production present downside risk for the year. The Philippines has been filling some of the gap and the rising price recovery in the first few months of 2021 has indicated an increased consumption activity.
Going forward, mine production is expected to grow as new refinery capacity in Indonesia creates a market for domestic mined output. Mine production is projected to grow an average 5% a year over the outlook period, to reach 3.2 million tonnes in 2026.
DISER added that nickel consumption finished at almost 2.4 million tonnes in 2020 (down 1.3% on 2019), after significant COVID-19 related consumption losses in the first half of 2020.
Going forward, growth is expected to be driven by returning economic activity and growing markets for nickel used in batteries. The surplus of nickel is expected to narrow in 2021, with the market likely reaching a deficit by 2023, and by 2026 world consumption is forecast to be 3.2 million tonnes, increasing by an average 6% a year.
By Vladimir Basov
For Kitco News
Paullee
3 years ago
Test Results Support Potential Carbon Neutrality of Giga's Turnagain Nickel Project
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Vancouver, B.C. – Martin Vydra, President of Giga Metals Corp. (TSXV: GIGA) (OTCQB: HNCKF) (FSE: BRR2) announced today that testwork conducted on Turnagain mineralized material at the University of British Columbia (UBC) has demonstrated significant mineral sequestration of CO2. The greenhouse gas is absorbed by exposing tailings or other waste rock to the atmosphere, which converts the host rock minerals to carbonate minerals, locking away the CO2 for geological time periods.
“This is exciting news,” said Mr. Vydra. “We now have empirical data that supports our ambition to build the world’s first true carbon neutral nickel mine, meaning a project that achieves carbon neutrality without purchasing carbon credits. As the only North American undeveloped nickel deposit of this scale solely focussed on the Class I and the battery chemical market, we think our emphasis on low carbon and other ESG principles will make us a desirable source of battery metals for electric vehicles.”
The test work was conducted by a team led by UBC’s Dr. Greg Dipple, who has been studying mineral sequestration of CO2 in mine tailings around the world for more than 15 years and whose work has recently been cited in the MIT Technology Review outlining the potential for mineral carbonation processes to permanently sequester vast amounts of CO2 and the interest that is being shown in generating carbon credits through this form of sequestration.
“The initial testing of the Turnagain material took place over a 4-week period and showed average absorption rates of 2.7 kg CO2/m2/y for the control sample, with absorption continuing at this rate over the 4-week test period,” said Dr. Dipple. “A second sample was tested with periodic mixing of the tailings layer, reflecting potential active management of a tailings facility; this second sample showed a sustained increase in carbon sequestration rates of 25%. During periods of optimal moisture and mixing, the sequestration rates increased up to 3 times the long-term average. We look forward to working with Giga Metals to conduct additional tests on larger samples.”
In the 2020 Preliminary Economic Assessment (PEA), Giga Metals disclosed expected emissions from a commercial operation of less than 2.5 tonnes CO2e/tonne of nickel produced in concentrate with a diesel haul fleet (Scope 1 + 2), and less than 0.75 t CO2e/t Ni with an electrified haul fleet. This is an order of magnitude lower than the global weighted average of 25.6 tonnes of CO2e/tonne of finished nickel reported by Wood Mackenzie.
At the demonstrated basic sequestration rate of 2.7 kg/m2/y and factoring in the tailings management facility size used in the PEA, Giga Metals estimates that approximately 900,000 tonnes of CO2 would be sequestered over the mine life, or 0.72 tonnes CO2 per tonne nickel produced. Seasonal variations and management strategies may cause CO2 sequestration rates to vary. This sequestration rate would make Turnagain a carbon neutral project if an electrified haul fleet becomes available as depicted in the chart below.
The CO2 sequestration rate used above is equivalent to 0.8 kg CO2/tonne tailings, which is 40% below the 1.4 kg CO2/tonne tailings recorded in the control sample. The tests showed that only about 10% of the contained brucite was consumed in the sequestration reaction after 1 month, and that the reaction was continuing, indicating a potential for increasing sequestration over time provided continued access to atmospheric or dissolved CO2. This upside was not incorporated in the calculations.
“We recognize the growing importance of strong ESG performance from commodity producers,” said Martin Vydra. “Europe is already introducing a strong carbon policy which could provide economic incentives to low carbon sources of raw materials. We are proud that our project is at the forefront of being able to contribute to a carbon free industry. We are also looking forward to continuing work with Dr. Dipple as we see a potential for Turnagain to actually generate carbon credits under the right scenario, however there is still significant work ahead before we can address this potential.”
About Giga Metals
Giga Metals Corporation is focused on metals critical to modern batteries, especially those used in Electric Vehicles and Energy Storage. The Company’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is the only undeveloped Canadian nickel project of this scale that is focussed on the battery market rather than the steel market.
On behalf of the Board of Directors,
“Martin Vydra”
MARTIN VYDRA, PRESIDENT
GIGA METALS CORPORATION
Tel – 604 681 2300
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