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On the Radar
Research Group - Market Bulletin
January 5, 2023 0:15 UTC
Québec Nickel $QNI Cashed-up for 2023 Ni-Cu-Co-PGE-Au Exploration
Season
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After encountering spectacular
success in the 2022 exploration season, QNI’s geological team,
led by V.P. of Exploration Gary DeSchutter, M.Sc., P.Geo., is
looking to generate success across multiple fronts in 2023 on
its large (~15,000 hectares), 100%-owned, Ni-Cu-Co-PGE-Au Ducros
Project – the geological team is planning to drill a number of
targets believed to be highly prospective for new discovery.
In-short, QNI knows what they have found to date is
significant and its understanding of what has the potential to
be there across the project is enormous.
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Independent Mining Analyst, Eric
Lemieux, summarized matters well in November-2022, providing a
noteworthy endorsement following a site visit of Québec Nickel
Corp's Ducros Ni-Cu-PGE Project; "We
estimate for the 7 intersections disclosed by QNI in the Fortin
Sill system an average of 4.95m @ 0.72% Ni, 0.78% Cu, 1.32 g/t
Pt-Pd-Au" -- Since then additional impressive
results have come forth.
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Share data, Capitalization, & Corporate info
Shares Outstanding:
110,842,205
Recently Traded:
~CDN$0.17/share (CSE:
QNI)
52 Week High/Low:
$0.32 / 0.09
Current Market Capitalization:
~$19 million CDN
Corporate Website:
www.QuebecNickel.com |
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Fully financed to tackle 2023:
Québec Nickel Corp. (CSE: QNI) (OTCQB:
QNICF) (Frankfurt: 71B) closed out 2022 by announcing it has
completed the closing of its second and final tranche of its
previously announced brokered private placement, raising a total of
~C$8.7 million to be primarily used for its 2023 exploration
program. This news falls on the heels of an announcement regarding
additional assay results from drilling completed at its Ducros
Ni-Cu-Co-PGE-Au Project, 80 kilometres northeast of Val-d’Or,
located in the prolific Abitibi Greenstone belt.
Exceptional Risk-Reward Metrics:
The company was formed in 2020 to
specifically tackle Ducros after it was identified as an outlier
with grades ~4 - 5 times what is found in the region for nickel,
but also spectacular elevated copper, cobalt, platinum, palladium,
and gold. This combination of high-grades across a mix of
companion elements proximal exceptional infrastructure
(all weather roads within meters, nearby power, rail, and a trained
local workforce, in a mining-friendly region) sets-up a potential
scenario with a low economic threshold; assuming continued
exploration success, the ingredients are there to potentially become
one of the lowest cost nickel concentrate producers. QNI currently
has a nominal market cap of ~C$19 million (~110.8 million shares
trading near ~C$0.17). The majority of the company shares are
institutionally held, and the company is well capitalized to
accomplish key objectives thru 2023. The share price of QNI appears
poised for upside revaluation as continued news flow occurs, and as
the significance of what Québec Nickel Corp. possesses is better
appreciated by the market.
High-grade Ni-Cu-Co-PGE-Au Fortin
Sill Deposit & big-upside for 2023 across the property:
Drilling to date (in only one season!)
has indicated near-surface, high grade and bulk tonnage potential at
the Fortin Sill target with significant upside potential as the
Fortin Sill trend is +1 km in strike length. There is also similar
potential, if not even larger, at the other targets at the Ducros
project set to be tested for 2023.
QNI’s maiden multi-phase drill program began in Q1-2022; QNI
completed just over 21,000 metres in 91 holes across the Ducros
property. The majority of drilling in 2022 was focused on the Fortin
Sill Ni-Cu-PGE deposit which is rapidly developing, starts at
surface and appears amenable to a high-grade open pit scenario.
Independent Mining Analyst, Eric Lemieux, summarized matters well in
November-2022, provided a noteworthy endorsement following site
visit of Québec Nickel Corp's Ducros Ni-Cu-PGE Project; "We
estimate for the 7 intersections disclosed by QNI in the Fortin Sill
system an average of 4.95m @ 0.72% Ni, 0.78% Cu, 1.32 g/t Pt-Pd-Au".
Since then additional impressive results have come forth, the
following Plan Map from the December 15, 2022 news release shows a
sizeable Ni-Cu-PGE deposit is being advanced at the Fortin Sill
Zone:
Figure 1. (above) Voluminous body of
quality material is located in the above plan map from Dec. 15, 2022
news release. The plan map shows the locations of selected drill
holes completed at the Fortin Sill Zone with Ni + Cu assays (%) in
relation to the outline of the Fortin Sill discovery outcrop (see
dashes in image above where high-grade stripped outcrop is now
exposed at surface). Drill holes with new assay results reported in
the Dec 15, 2022 news release are highlighted in orange i.e.
QDG-22-30 through QDG-22-32 and QDG-22-38.
See the company’s corporate presentation [PDF] for a synopsis of
impressive 2022 drill highlight results released to date:
https://rxud3d.a2cdn2.secureserver.net/wp-content/uploads/2022/11/Quebec-Nickel-Website-Presentation-1-1.pdf
online.
Figure 2 (above) Updated Exploration Model for the Fortin Sill
Zone -- the Ni-Cu-Co-PGE-Au mineralization at the Fortin Sill
Zone occurs at or near the footwall contact of a large
west-southwest-dipping embayment structure within the larger mafic
to ultramafic Fortin Sill. The overall Fortin Sill intrusive body is
interpreted to span several hundred metres or more in an approximate
northwest-southeast trend and is characterized by the occurrence of
a large blow-out, or embayment, at the Fortin Sill Zone. This
refinement in the exploration model is being used to plan the next
phase of work at Fortin Sill Zone and will likely include the drill
testing of the newly modelled footwall contact along its entire
surface, both along strike and at depth.
The 2022 drill program is now complete, and there remain numerous
core assays pending at the lab to report near-term. Besides the
Fortin Sill deposit, QNI also looked at targets that are highly
prospective for new discovery in other areas of the property (e.g.
its Ducros Ultramafic Sill Complex has recently received over 3,650
metres in 10 holes spanning 800 m across the interpreted north-south
strike of the regional geological trend (assays are pending)).
2023 drilling target areas across the property are indicated by
dashed outlines:
Figure 3. (above) Plan map of
Québec Nickel’s Ducros property (red outline) showing the merged
total field VTEMTM and drone magnetic data sets overlain on top of
Québec Government geology. 2023 drilling target areas are indicated
by dashed outlines. Drill targets comprise coincident geophysical
anomalies (VTEM conductive features +/- magnetic highs responses +/-
gravity features).
In-short, QNI knows what they have found to date is significant and
its understanding of what has the potential to be there across the
project is enormous.
Plans are in progress to launch winter work programs including up to
20,000 metres of new drilling in 2023. Details on targets will be
forthcoming – QNI has invested a large amount of time and resources
in 2022 developing a myriad of exploration datasets (UAV magnetic,
VTEM, airborne gravity-gradiometer surveys, prospecting, geological
mapping & biogeochemical surveys, etc...) to maximize success.
The geological team leadership, directors, and board of advisors
are an impressive who's-who of nickel expertise with career
accomplishments across the spectrum from nickel exploration &
discovery, development, and major production. Gary DeSchutter,
M.Sc., P.Geo., is Vice-President of Exploration for Québec Nickel
Corp., he started his career with Falconbridge and transitioned to
Anglo American for 6 years as part of their global nickel generation
team. Gary joined Québec Nickel in February-2022 -- in-short, he
picked Québec Nickel because he knows nickel and was attracted by
the anomalous Nickel-Copper-Platinum Group Element (PGE) occurrences
and elephant-size potential at Ducros.
The following URLs have been
identified for additional insight on Québec Nickel Corp.:
Company website:
https://quebecnickel.com
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SEDAR:
URL
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Q4-2022 site visit review by Mining
Analyst, Eric Lemieux:
URL
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Recent Mining Journal Review:
https://miningmarketwatch.net/qni.htm
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# #
This bulletin may contain
forward-looking statements regarding future events that involve risk and
uncertainties. Readers are cautioned that these forward-looking statements are
only predictions and may differ materially from actual events or results.
Articles, excerpts, commentary and reviews herein are for information purposes
and are not solicitations to buy or sell any of the securities mentioned.
Contact information:
Peter Winters, BaEc.
On the Radar Research Group
p.winter@ontheradarresearch.com
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