PGM to nickel; Wellgreen rebrands
North of 60 Mining News – January 12, 2018
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Last updated 9/24/2020 at 6pm
Nickel Creek Platinum Corp.
A few miles south of the Alaska Highway in western Yukon, the Nickel Shäw project hosts a deposit with 2.7 million ounces platinum, 2.8 million oz palladium, 468,000 oz gold, 2.1 billion pounds nickel, 1.1 billion lb copper and 121 million lb cobalt.
Wellgreen Platinum Ltd. Jan. 8 announced that it is changing its name to Nickel Creek Platinum Corp., part of a rebranding aimed to reflect a new direction for the company and the uniqueness of its asset, which is one of the largest undeveloped nickel sulfide and Platinum Group Metals (PGM) deposits in North America.
"We are thrilled to complete our corporate rebranding to Nickel Creek Platinum, a name which reflects our company's significant endowment of nickel and PGMs, particularly in an environment of rapidly growing demand for electric vehicles that require extensive use of these metals," said Nickel Creek Platinum President and CEO Diane Garrett.
As part of the overall rebranding, Nickel Creek Platinum has renamed its Wellgreen nickel-copper-PGM project to Nickel Shäw, a name that reflects the company's focus and close community ties with the Kluane First Nation, whose traditional territory covers the part of southwestern Yukon where Nickel Shäw is located.
Shäw is the Kluane word for big, therefore Nickel Shäw translates to big nickel. Nickel Creek said this is an apt name for a project that hosts more than 2 billion pounds of nickel in the measured and indicated resource category.
A 2017 updated preliminary economic assessment for the Wellgreen deposit at Nickel Shäw outlines plans for a 25,000-metric-tons-per-day operation for the first five years and then scale up to a 50,000/tpd operation for another 20 years.
This mine is anticipated to average 89,518 ounces of platinum; 103,471 oz palladium; 15,890 oz gold; 73.1 million lbs. nickel; 55.3 million lbs. copper; and 3.4 million lbs. cobalt annually for the first 16 years of operation.
In addition to the Wellgreen deposit, Nickel Shäw encompasses the Arch, Quill, Burwash, and Formula exploration targets, all of which lie within the settled land claims of the Kluane First Nation, as defined by their treaty with the Canadian and Yukon Governments.
"We are also extremely gratified by the fact that our principal project is located in the Yukon, a Canadian Territory with a well-established culture and support for responsible mining, a factor which is particularly important to all of our stakeholders," said Garrett.
Nickel Creek Platinum will trade under the ticker symbol NCP on the Toronto Stock Exchange.
–SHANE LASLEY
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