SUDBURY PROPERTIES -- ONTARIO
The Sudbury Basin is one of the largest nickel and platinum group mineral (PGM) mining camps in the world. It is estimated that over US$120 billion worth of nickel, copper and PGM metal have been produced from the region over the past 100 years.
CaNickel Mining Limited (Formerly "Crowflight Minerals Inc.") has two major exploration projects in the Sudbury Basin, including:
- its 100% owned AER Kidd Property, located immediately adjacent to Inco's Totten Deposit
- its 100% owned Peter's Roost Property, located in the North Range of the Sudbury Basin
In light of CaNickel's commitments in the Thompson Nickel Belt, including the financing and development of the Bucko Deposit, the Company will look to enter into a joint venture agreement with a third party whereby such third party will fund future exploration activities in order to earn an interest in the AER Kidd Property and Peter's Roost Property. Should such efforts fail to result in a joint venture agreement, CaNickel will look to fund advanced exploration from cash flows from the Bucko Deposit, Manitoba once in production or other free cash as it becomes available.