Pure Nickel, Inc. is a mineral exploration and development company centered on discovery and dedicated to aggressive exploration programs. The Company’s projects include William Lake; Manibridge, Fond du Lac; Tower, as well as other projects. Pure Nickel has strong relationships with its joint venture (JV) partners. The Company is based in Toronto, Ontario.
Pure Nickel acquires, explores, and develops mineral properties in Canada and the U.S. The Company mainly explores for nickel, platinum group elements, copper, gold, and silver deposits, and also other base and precious metals. Pure Nickel has a varied group of nickel, copper, and platinum group element exploration projects in North America.
The William Lake Property comprises 55 claims totaling 10,566 hectares. There are 35 claims adjacent to the William Lake property. These make up Pure Nickel’s Tower Property. Pure Nickel purchased the William Lake properties as part of the Xstrata Nickel Land Property Purchase. Xstrata retains certain rights regarding these mining claims.
The Tower property (Manitoba) is 50 km from Grand Rapids. It is in the northeast corner of the William Lake property, which is positioned in the southern extension of the prolific Thompson Nickel Belt. The Tower property consists of 35 mining claims.
The Company’s Manibridge Project is the site of a past producing mine. The Manibridge Property comprises two claims covering the shaft, ore body, and tailings of a former operating mine. This property is 130 km southwest of Thompson and 32 km southwest of the town of Wabowden.
The Fond du Lac Project is in northern Saskatchewan, 20 km northwest of Stony Rapids. The property is on the northern edge of the Athabasca Basin. The Fond du Lac Project consists of four contiguous claims totaling 19,700 hectares.
Pure Nickel also has its HPM ((Haut Plateau du Manicouagan) Project in Quebec. The HPM property is roughly 290 km north of Baie Comeau and 180 km north-northwest of Sept-Îles. The HPM property comprises14 map-staked claims, encompassing an area of 748 hectares.
On June 2, 2015, Pure Nickel announced it completed the initial phase of the sale of its 30 percent interest in the Tower Property. As announced on March 31, 2015, the Company entered into an agreement with Akuna Minerals, Inc. (a private company) for the sale of Pure Nickel’s interest in the Tower Property for a total of $1,500,000. The first phase of the agreement included a cash payment of $1,000,000. Pure Nickel has received these funds.
Furthermore, under the terms of the Purchase and Sale Agreement, upon attainment of nameplate production as defined in an NI 43-101 feasibility study, Akuna Minerals will make another payment to Pure Nickel of $500,000.
Last week, Pure Nickel announced that Mr. Thomas S. Kofman was appointed as interim Chief Financial Officer (CFO) of the Company. Mr. Kofman has been a Director of Pure Nickel since 2012. He has served on the Audit Committee since then. Mr. Kofman has more than 30 years of experience in North American Capital Markets as an issuer and banker. He is a Chartered Accountant.