{"id":36028,"date":"2023-10-23T08:35:29","date_gmt":"2023-10-23T07:35:29","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=36028"},"modified":"2024-01-19T15:55:14","modified_gmt":"2024-01-19T15:55:14","slug":"meeting-demands-of-canadas-electric-vehicle-market","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/meeting-demands-of-canadas-electric-vehicle-market\/36028\/","title":{"rendered":"Fortune Nickel and Gold: Meeting the demands of Canada\u2019s electric vehicle market"},"content":{"rendered":"
Fortune Nickel and Gold is a mineral exploration company, primarily focused on the Timmins Nickel District in Ontario, Canada. The company\u2019s work is centred around delivering class one nickel to meet the demands of Canada\u2019s electric vehicle (EV) market<\/a>. At this stage, the company has received exploration permits to drill in the townships of Gowan, Beck, Ottaway, and Lennox.<\/p>\n To find out more about the company\u2019s recent progress and future plans, The Innovation Platform<\/em> spoke with CEO Paul Riss.<\/p>\n Clean energy transitions that focus on the demand for critical minerals, such as copper (Cu), lithium (Li), nickel (Ni), and cobalt (Co), are projected to create a significant increase in demand for minerals. The International Energy Agency (IEA) states that: \u201cIt is essential to ensure diverse, resilient, and secure clean energy supply chains, including for critical minerals.\u201d<\/p>\n We are focusing on critical minerals<\/a> to power Canada\u2019s electric vehicle market, where we believe we have a government-friendly environment that will contribute to a resilient and secure supply of nickel and copper. Our geologists have mapped out several areas within the 9,000 acres in which we own the mineral rights in the Timmins nickel district, for us to discover significant deposits of nickel, copper, and zinc.<\/p>\n We are working to advance our properties from initial resource to a construction-ready project. We have been diligent with project financing, capital structuring, internal controls, and financial reporting. We take steps to limit shareholder dilution in the accomplishment of our goals, and we are holding equity securities in other public companies that we intend to sell to help finance exploration activities that will build Canada\u2019s electric vehicle market.<\/p>\n We own mineral rights to 180 claims, which are in the townships of Gowan, Lennox, Ottaway, and Beck.<\/p>\n Our properties show enormous potential for critical minerals. Our Canadian experts and advisory group tell us we can expect a significant amount of gold in our properties, but that there is such overwhelming evidence of nickel, copper, and zinc (Zn) that we should target the battery metals first. We plan to advance a high-quality nickel-sulfide project and we love that we are positioned near North American car manufacturers that continue to expand their search for nickel sources and expand Canada\u2019s electric vehicle market.<\/p>\n We are also approximately ten miles away from the Crawford project, which boasts a preliminary economic assessment of $1.3bn. We are pleased to see that they are consolidating a large-scale open-pit nickel sulfide project with the potential for zero-carbon production that is so close to our properties.<\/p>\n Nickel sulfide discoveries have been acquired at significant valuations. We are fortunate to be operating in a well-established mining jurisdiction with significant infrastructure in place, and a supportive government.<\/p>\n Reverse circulation overburden drilling was carried out from 1973-1974 on our property and the bore hole (FH-68) yielded impressive, high-grade assays with intersection of 27ft at 3.5% Ni and 1.25% Cu from millerite-bearing, basal till samples.<\/p>\n Subsequent diamond drilling in 1975 reported several anomalous base and precious metal (Cu-Zn-Au-Ag) zones. The mineralisation appears to be contained in a NE-SW trend shears with 9.4m intercept of semi-massive to disseminated pyrite and chalcopyrite, hosted at the contact of an altered ultramafic rocks and porphyritic felsic intrusion (rhyolite). Assays from this same interval returned 0.30% Cu and 10.6 g\/t silver (Ag). Better grade mineralisation of 0.68% Cu was returned over 3.8 m and 0.95% Cu over 1m.<\/p>\n The Timmins Camp has a long history of nickel production from komatiite-associated Ni-Cu (PGE) deposits. Several of these deposit types have been identified within specific lithostratigraphic assemblage in AGB, including Deloro assemblage (Crawford), the Tisdale Assemblage (Langmuir, Redstone), and the Kidd-Munro sequence (Alexo, Dundonald), including the world-class Kidd Creek Volcanogenic Massive Sulfide deposit. The Gowan property is part of the Kidd-Munro Assemblage.<\/p>\nCan you tell us more about Fortune Nickel and Gold and your current focuses?<\/h3>\n
How are you supporting the growth of Canada\u2019s electric vehicle market?<\/h3>\n
What are your current mineral rights and why are these exciting prospects?<\/h3>\n
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