Huntsman Exploration (TSX.V: HMAN) takes control of the Canegrass Nickel Sulphide project in Australia
VANCOUVER, BC, April 15, 2021 /CNW/ - On April 13, 2021 Huntsman Exploration (TSX.V: HMAN) (OTC: BBBMF) announced that it has exercised an option to take control of 100% of the Canegrass Nickel Sulphide Project in Western Australia.
HMAN has a gold project in Nevada, USA and a nickel project in Western Australia – giving it leverage into two global macro trends: green energy and government debt.
"Wherever you are in the world, please mine more nickel," stated Tesla's CEO Elon Musk.
"Gold is the only currency that has survived throughout the millennia," opined Frank Guistra in a Kitco Op-ed.
HMAN's 4,200-hectare Australian nickel property is 12 times bigger than NYC's Central Park. The land package is part of the famed Windimurra Complex - known to host platinum, cobalt, gold and nickel.
Canegrass High-Grade Nickel Project Highlights:
- High-grade nickel, copper, PGE and vanadium mineralization.
- Multiple, high-grade, near-surface drill results.
- Drilling success to date has been following up EM survey anomalies.
- Attractive Chemistry: Multi-element rock and soil sampling (historical).
- Road accessible and 500 km from tidewater.
Ten weeks ago, Huntsman set up a mobile camp for an 18-hole drill program at Canegrass. Concurrent with the drilling, HMAN is conducting a ground MLEM survey.
MLEM surveys are typically used to detect semi-massive and massive conductors associated with sulphide mineralisation.
On March 23, 2021, HMAN published the first assay results from the Phase I, 2021 drill program reporting intercepts of Nickel (Ni), Copper (Cu) and Cobalt (Co) near surface and at depth, along a 3 kilometer strike
Phase I Highlights from multiple zones include: 1 meter @ 2.8% Nickel, 0.1% Cu, 0.15% Co 0.11 g/t Pt and 0.21 g/t Pd, and 3.1 meters @ 2.2% Ni, 0.2% Cu, 0.15% C, 0.15 g/t Pt and 0.21 g/t Pd.
By comparison, Vale's 4,000 person Sudbury Ontario nickel mine has feed grade of 1.2% nickel.
"The results from the drilling and MLEM surveys at Canegrass confirm our belief in the blue-sky potential of this asset," stated Peter Dickie, President and CEO of Huntsman.
"Nickel has a new price driver, Electric Vehicles (EVs)", confirms Forbes.
15,000 kilometers from the Canegrass nickel project, HMAN is entering the permitting stage for a Phase 1 drill program at the Baxter Spring Gold Project in Nevada, USA, after identifying a number of high priority drill targets.
Phase I drilling is expected to begin in the latter half of Q1, 2021 focusing on the confirmation of several known structures.
Concurrently, a ground program is underway to support planning and permitting for Phase II of drilling.
Baxter Spring Gold Project Highlights
- Drill tested mineralization with 128 historical RC and core holes
- Oxide and vein structures (historic results)
- Numerous untested targets identified
- Historically, only shallow drill tested
- Potential additional mineralization at depth.
In the last year, the price of nickel has risen from $12,000/tonne to $16,000/tonne, up 33% in 12 months.
Global demand for nickel "is expected to increase over tenfold by 2025 to some 665,000 tons worldwide," reports Statista,
Gold futures are oscillating around USD $1,740 – down $220 in the last 8 months, but up 33% in the last 5 years.
"The positive macro-indicators for gold include a weakening U.S. dollar, negative yields, money printing and inflation," states Global Stocks News CEO Guy Bennett.
"Huntsman is now operating on two fronts, permitting our Nevada, USA gold property while drilling at the Canegrass high-grade nickel project in Western Australia," confirmed Dickie.
Investors can sign-up to receive access to an April 14, 2021 web-address by Mr. Dickie.
SOURCE Global Stocks News
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