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http://www.hardcreek.com/i/pdf/WHATISNICKEL.pdf
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Hard Creek engages German Mining Networks
Hard Creek engages German Mining Networks
October 25, 2016
Hard Creek engages German Mining Networks
Hard Creek Nickel Corp. has engaged the services of German Mining Networks, based in Frankfurt, Germany. German Mining Networks will work to increase investor awareness of Hard Creek Nickel in Europe. The IR firm has been retained for an initial 3 months at a rate of $3,500 per month plus expenses.
About Hard Creek Nickel
Hard Creek Nickel's core asset is the Turnagain nickel, cobalt and PGE project in north central British Columbia, Canada.
On behalf of the Board of Directors,
"Mark Jarvis"
MARK JARVIS, President
HARD CREEK NICKEL CORPORATION
Hard Creek engages German Mining Networks
Hard Creek Nickel Corp. has engaged the services of German Mining Networks, based in Frankfurt, Germany. German Mining Networks will work to increase investor awareness of Hard Creek Nickel in Europe. The IR firm has been retained for an initial 3 months at a rate of $3,500 per month plus expenses.
About Hard Creek Nickel
Hard Creek Nickel's core asset is the Turnagain nickel, cobalt and PGE project in north central British Columbia, Canada.
On behalf of the Board of Directors,
"Mark Jarvis"
MARK JARVIS, President
HARD CREEK NICKEL CORPORATION
almost 8 years
ago
Turnagain Project Preliminary Economic Assessment
Summary - Turnagain Project
Preliminary Economic Assessment
Production of Nickel/Cobalt Concentrate
AMC Mining Consultants (Canada) Ltd.
The PEA, published December 2011, models production of an 18% Ni, 1% Co concentrate for sale to smelters. Initial mill throughput of 43,400 tonnes per day ramps up to 84,600 tonnes per day in year 6.
After year 21, low grade stockpiles are processed.
Projected Turnagain Nickel Production
KEY DATA
C1 Cash Cost: $4.26 per pound. (C1 is total cash cost to produce a pound of nickel, including transportation and smelter charges, net of byproduct credits)
NPV pre-tax* (8% discount) US $1,295,000,000
NPV after-tax* (8% discount) US $724,000,000
2
IRR pre-tax* (100% equity) 15.9%
IRR after-tax* (100% equity) 13.5%
Initial Capital Investment US $1,357 million
Expansion Capital in Year 5 US $492 million
Payback period* 7.3 years
Mill operation 27.2 years
* Based on: Nickel Price: US $8.50 per lb.
Cobalt Price: US $14.00 per lb.
Exchange Rate: 0.95 US$/CAN$
Resource within pit: Measured 206 million tonnes, 0.231% Ni, 0.014% Co
Indicated 356 million tonnes, 0.226% Ni, 0.013% Co
Inferred 201 million tonnes, 0.235% Ni, 0.013% Co
The PEA includes the use of inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The study is preliminary in nature and there is no assurance the mining, metal production, or cash flow scenarios outlined in this report would ever be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
CAPITAL COSTS:
(U.S. $ millions)
Initial Expansion Total LOM
(Year 5)
Mine 244 68 406
Off Site Infrastructure 253 0 0
Processing 733 406 1,392
Other & Sustaining 95 18 478
Working Capital 32 0 32
Total Capital $ 1,357 $ 492 $ 2,308
OPERATING COSTS:
(US$/tonne)
Year 1-5 Year 6-21 LOM
Mining 3.11 3.11 2.52
Processing (incl. Tailings) 4.69 4.38 4.44
General and Administration 0.57 0.29 0.33
Total Operating Cost $ 8.37 $ 7.78 $ 7.29
Operating costs are cash costs on site, before transportation and smelter charges.
3
MINERAL RESOURCES
The total estimated resource for the Turnagain Project, at a 0.1% Ni cut-off, is as follows:
Measured : 227,379,000 tonnes @ 0.22% Ni and 0.014% Co
Indicated : 638,103,000 tonnes @ 0.21% Ni and 0.013% Co
Inferred : 976,295,000 tonnes @ 0.20% Ni and 0.013% Co
DEVELOPMENT PLAN
The PEA evaluates the development of the Turnagain deposit by conventional open-pit methods with trucks and shovels. Material will be processed using a conventional concentrator to produce nickel-cobalt concentrate.
KEY METRICS:
Year 1-5 Year 6-21 Average LOM
Strip Ratio 0.74 0.83 0.82
Annual Mill Throughput (Million tonnes) 15.8 31.3 28.1
Average Mill Feed Grade
Nickel (%) 0.261 0.246 0.230
Cobalt (%) 0.014 0.013 0.013
Average Recoveries
Nickel (%) 58.0 57.7 56.4
Cobalt (%) 58.0 57.7 56.4
Annual Metal Production
Nickel (lbs.) 52,717,000 97,871,000
Cobalt (lbs.) 2,822,000 5,363,000
Total Metal Production
Nickel 2,181,552,000 lbs.
Cobalt 123,181,000 lbs.
Annual Concentrate Production
Dry (tonnes) 132,846 246,663 203,101
Total Concentrate Production 5,497,474 dry tonnes
4
SENSITIVITY:
Nickel Price/lb. * $7.50 $8.50 $9.50
Pre tax IRR 13.2% 15.9% 18.3%
After tax IRR 11.0% 13.5% 15.4%
Pre tax NPV (8%) $781,000,000 $1,295,000,000 $1,809.000,000
After tax NPV (8%) $367,000,000 $724,000,000 $1,035,000,000
* FX varies with nickel price. At base case $8.50/lb. nickel, Cdn $ = .95 U.S. $. At
$9.50/lb. nickel, Cdn $ = 1 U.S. $. At $7.50/lb. nickel, Cdn $ = .90 U.S. $.
OPPORTUNITIES
Potential for payable platinum and palladium in the concentrate
Improved metallurgical performance
Increased mine life with existing defined resource and Hatzl area resource
Optimization of tailings storage facility construction
Additional resource potential for both nickel/cobalt and platinum/palladium
within the Turnagain ultramafic complex
Third party ownership/operation of the transmission line
Financing of the proposed interconnection fee tariffs over five years
Shared access development cost
This summary document uses the terms “measured” “indicated” and “inferred” resources.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company’s continuous disclosure filings as found at www.sedar.com.
This document has been reviewed and approved by Neil Froc, P. Eng, a Qualified Person
consistent with NI 43-101.
Summary - Turnagain Project Preliminary Economic Assessment
Summary - Turnagain Project
Preliminary Economic Assessment
Production of Nickel/Cobalt Concentrate
AMC Mining Consultants (Canada) Ltd.
The PEA, published December 2011, models production of an 18% Ni, 1% Co concentrate for sale to smelters. Initial mill throughput of 43,400 tonnes per day ramps up to 84,600 tonnes per day in year 6.
After year 21, low grade stockpiles are processed.
Projected Turnagain Nickel Production
KEY DATA
C1 Cash Cost: $4.26 per pound. (C1 is total cash cost to produce a pound of nickel, including transportation and smelter charges, net of byproduct credits)
NPV pre-tax* (8% discount) US $1,295,000,000
NPV after-tax* (8% discount) US $724,000,000
2
IRR pre-tax* (100% equity) 15.9%
IRR after-tax* (100% equity) 13.5%
Initial Capital Investment US $1,357 million
Expansion Capital in Year 5 US $492 million
Payback period* 7.3 years
Mill operation 27.2 years
* Based on: Nickel Price: US $8.50 per lb.
Cobalt Price: US $14.00 per lb.
Exchange Rate: 0.95 US$/CAN$
Resource within pit: Measured 206 million tonnes, 0.231% Ni, 0.014% Co
Indicated 356 million tonnes, 0.226% Ni, 0.013% Co
Inferred 201 million tonnes, 0.235% Ni, 0.013% Co
The PEA includes the use of inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The study is preliminary in nature and there is no assurance the mining, metal production, or cash flow scenarios outlined in this report would ever be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
CAPITAL COSTS:
(U.S. $ millions)
Initial Expansion Total LOM
(Year 5)
Mine 244 68 406
Off Site Infrastructure 253 0 0
Processing 733 406 1,392
Other & Sustaining 95 18 478
Working Capital 32 0 32
Total Capital $ 1,357 $ 492 $ 2,308
OPERATING COSTS:
(US$/tonne)
Year 1-5 Year 6-21 LOM
Mining 3.11 3.11 2.52
Processing (incl. Tailings) 4.69 4.38 4.44
General and Administration 0.57 0.29 0.33
Total Operating Cost $ 8.37 $ 7.78 $ 7.29
Operating costs are cash costs on site, before transportation and smelter charges.
3
MINERAL RESOURCES
The total estimated resource for the Turnagain Project, at a 0.1% Ni cut-off, is as follows:
Measured : 227,379,000 tonnes @ 0.22% Ni and 0.014% Co
Indicated : 638,103,000 tonnes @ 0.21% Ni and 0.013% Co
Inferred : 976,295,000 tonnes @ 0.20% Ni and 0.013% Co
DEVELOPMENT PLAN
The PEA evaluates the development of the Turnagain deposit by conventional open-pit methods with trucks and shovels. Material will be processed using a conventional concentrator to produce nickel-cobalt concentrate.
KEY METRICS:
Year 1-5 Year 6-21 Average LOM
Strip Ratio 0.74 0.83 0.82
Annual Mill Throughput (Million tonnes) 15.8 31.3 28.1
Average Mill Feed Grade
Nickel (%) 0.261 0.246 0.230
Cobalt (%) 0.014 0.013 0.013
Average Recoveries
Nickel (%) 58.0 57.7 56.4
Cobalt (%) 58.0 57.7 56.4
Annual Metal Production
Nickel (lbs.) 52,717,000 97,871,000
Cobalt (lbs.) 2,822,000 5,363,000
Total Metal Production
Nickel 2,181,552,000 lbs.
Cobalt 123,181,000 lbs.
Annual Concentrate Production
Dry (tonnes) 132,846 246,663 203,101
Total Concentrate Production 5,497,474 dry tonnes
4
SENSITIVITY:
Nickel Price/lb. * $7.50 $8.50 $9.50
Pre tax IRR 13.2% 15.9% 18.3%
After tax IRR 11.0% 13.5% 15.4%
Pre tax NPV (8%) $781,000,000 $1,295,000,000 $1,809.000,000
After tax NPV (8%) $367,000,000 $724,000,000 $1,035,000,000
* FX varies with nickel price. At base case $8.50/lb. nickel, Cdn $ = .95 U.S. $. At
$9.50/lb. nickel, Cdn $ = 1 U.S. $. At $7.50/lb. nickel, Cdn $ = .90 U.S. $.
OPPORTUNITIES
Potential for payable platinum and palladium in the concentrate
Improved metallurgical performance
Increased mine life with existing defined resource and Hatzl area resource
Optimization of tailings storage facility construction
Additional resource potential for both nickel/cobalt and platinum/palladium
within the Turnagain ultramafic complex
Third party ownership/operation of the transmission line
Financing of the proposed interconnection fee tariffs over five years
Shared access development cost
This summary document uses the terms “measured” “indicated” and “inferred” resources.
We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories would ever be converted to reserves.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company’s continuous disclosure filings as found at www.sedar.com.
This document has been reviewed and approved by Neil Froc, P. Eng, a Qualified Person
consistent with NI 43-101.
almost 8 years
ago
CYP Samples up to 3,830 ppm Li at Dean
Cypress Development samples up to 3,830 ppm Li at Dean
Cypress Development Corp (2) (C:CYP)
Shares Issued 29,022,730
Last Close 11/30/2016 $0.10
Thursday December 1 2016 - News Release
Mr. Don Huston reports
CYPRESS SAMPLES UP TO 3730 PPM LI AT DEAN LITHIUM PROJECT IN CLAYTON VALLEY, NEVADA
Cypress Development Corp. has received additional results from a phase 2 sampling program at Cypress's 2,700-acre Dean lithium brine/claystone project located in Clayton Valley, Esmeralda county, Nevada.
The company's 2,700-acre Dean claim group is located adjacent to producing lithium brine wells belonging to the Albemarle Silver Peak mine on its west boundary, Pure Energy's resource area on its southwest boundary and Cypress's existing Glory Clayton Valley project, optioned to Pure Energy, on its southern boundary.
In October, Cypress initiated a phase 2 detailed surface sampling program on the company's 100-per-cent-owned Dean project. Another 72 samples were collected and submitted for analysis for lithium content.
Highlights:
- Maximum lithium value in claystone/mudstone was 3730 ppm lithium (0.82% Li20 equivalent).
- 8 samples assayed greater than 2000 ppm lithium (0.43% Li20 equivalent).
- 29 samples assayed greater than 1000 ppm lithium (0.22% Li20 equivalent).
- An area of >2 square kilometers has been identified as a new high-grade zone.
- The new zone has been named the Frontera Verde Zone and this zone is open for expansion to the north and south.
- Initial chip channel samples demonstrate vertical continuity of mineralization to 3.25 meters (see table 1 below).
- BLM permitting is underway in preparation for drilling of the new zone.
Table 1:
Cypress Dean Outcrop Sampling Results Highlights
Sample #Rock Type Li ppm Sample #Rock Type Li ppm
Dean-26 Mudstone 640 CV00802 Claystone 3730
Dean-27 Mudstone 900 CV00803 Mudstone 1660
Dean-28 Claystone 1350 CV00805 Mudstone 1000
Dean-41 Claystone 1100 CV00806 Claystone 1030
Dean-44 Claystone 1890 CV00810 Claystone 1480
CV00210 Claystone 2040 CV00811 Claystone 1320
CV00221 Claystone 2310 CV00812 Claystone 1750
CV00224 Claystone 3830 CV00813 Claystone 2130
CV00225 Mudstone 920 CV00814 Mudstone 1000
CV00226 Mudstone 910 CV00818 Mudstone 1640
CV00790 Mudstone 2440 CV00819 Mudstone 1450
CV00792 Mudstone 510 CV00820 Mudstone 800
CV00793 Mudstone 510 CV00821 Mudstone 1150
CV00794 Mudstone 2530 CV00822 Siltstone 810
CV00795 Claystone 1030 CV00823 Ashstone 570
CV00796 Mudstone 780 CV00824 Claystone 1090
CV00797 Mudstone 1770 CV00825 Mudstone 1110
CV00798 Mudstone 1780 CV00826 Mudstone 750
CV00799 Mudstone 1410 CV00827 Claystone 1060
CV00800 Claystone 1590 CV00801 Claystone 2220
CV00828 2.5 meter chip channel1790 CV00829 3.25 meter chip channel1390*Note ppm = parts per million, Li = lithium metal
Dean sample locations and assay values map:
http://www.cypressdevelopmentcorp.com/i/maps/Dean-Sample-Map-Nov16.jpg
Several first order targets are now being defined on the property which include extensive outcropping of altered green evaporate-rich volcanoclastic claystone/mudstone exposure known as the Frontera Verde Zone. The Frontera Verde Zone covers an area of greater than 2 square kilometers. The average lithium grade of the Frontera Verde Zone is greater than 1500 ppm Li. The mineralization seen on the Dean Project is essentially identical to the Cypress Glory Project immediately to the south, now being jointly explored by Cypress Development and earn-in partner Pure Energy Minerals.
Outcropping lithium-rich mudstones at Dean Project:
http://www.cypressdevelopmentcorp.com/i/maps/Dean-Chip-Channel-Samples-Far-South.jpg
Donald Huston, President Cypress Development, stated "The recent assay result from the sampling program on the Dean Project has returned some of the highest grade lithium numbers in claystone that has ever been reported in Clayton Valley, Nevada. It is evident, from the surface mapping and sampling completed, that the lithium-rich claystone extends over a large area of the property known as the Frontera Verde Zone. Cypress management are very encouraged with the progress seen to date and will continue with work on potential lithium extraction methods for the claystones."
The Dean property is composed of the same claystones / mudstones as seen on the Glory property to the immediate south, and under option to Pure Energy Minerals (see their news release Nov. 28). The geology consists predominantly of uplifted claystone and mudstone sequences and ash tuffs, covered by a thin (less than 2 meters) layer of channel wash gravels.
Additional assay methods recently carried out by Cypress on the Dean Project clearly show that the lithium in the uplifted exposed lake bed sediments is easily leached by a dilute acid solution and a deionized water method.
Cypress is in the process of making application to the BLM, Nevada for a Permit to allow for a series of drill holes into the new Frontera Verda Zone on the Dean Project.
Quality Control and Quality Assurance:
All samples were submitted to ALS Chemex Labs in Reno, Nevada, for analysis using an ME-ICP61, 33 element four acid digestion ICP method. Blind sample blanks were inserted into the sample sequences at a rate of approximately 1 per 20 samples.
Robert Marvin, PGeo, Exploration Manager for Cypress Development Corp., is the qualified person as defined by National Instrument 43-101 and has approved of the technical information in this release.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded lithium and zinc exploration company that continues to acquire and develop potentially viable mineral projects in the State of Nevada, U.S.A.
Cypress is very active in Clayton Valley, Nevada with its team committed to systematically exploring its properties for both a lithium-brine resource and expanding exploration relating to the potential for lithium that exists within the recently discovered non-hectorite "claystones", that has seen recent high lithium assays recovered from these same "claystones".
almost 8 years
ago
Rawhide
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