The Target holds a 100% interest in 13 mining licenses totalling 17,375 Hectares (the 'Property') which adjoin the
Project Highlights: Increased project size, covers approximately 210 square kilometres of mineralized belt; Avante is the first company to target awaruite (nickel-iron alloy) in this region since 2012; Increased size secures the majority of the nickeliferous Pipestone ultramafic complex; Historical drilling in the north Property area re-assayed up to 0.27% Ni and 0.22% Ni over the entire hole of 87.15 metres (bottomed in mineralization) and remains open in all directions (NFLD/3284); Good infrastructure with existing road access extending onto the Property and a hydroelectric generating station located approximately 15km south of the Property and Major expanded regional compilation underway to allow acceleration through early-stage exploration on the Property.
Target mineralization within this belt includes bulk tonnage style near surface nickel mineralization within the ultramafic rocks containing a high primary nickel content. The Company is working to define areas within the Property where these rocks have been altered to convert the primary nickel into either a nickel-iron alloy (awaruite) or a nickel-sulphide.
Areas of awaruite mineralization represent an opportunity for a 'green' nickel source. Awaruite deposits such as
Upon completion of the Transaction and pursuant to the Agreement, the Company purchased all of the issued and outstanding shares of the Target (the 'Target Shares') from the Vendors in consideration for 15,690,001 common shares of the Company issued at a price of
The Company intends to continue to provide updates in regards to its winter field work and major regional compilation work as results become available.
About
The Company's Voisey's West project is located in the same intrusive complex as the world class Voisey's
Contact:
Tel: 1-778-331-3816
Forward-looking statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward-looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the Company's strategy and exploration and development plans.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, about: general business and economic conditions and the Company's strategy and exploration and development plans.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that future exploration results will not be as currently anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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