Giga Metals acquires 100% interest in Turnagain Project, British Columbia
Giga Metals Corp. [TSXV: GIGA; OTCQB: GIGGF] reported that effective Sept. 28, 2026, and subject to the provisions of the Turnagain joint venture agreement dated August 15, 2022, Mitsubishi Corp. has elected to exercise its put right and has agreed to sell its approximate 15% interest in the Turnagain joint venture back to Giga Metals Corp. for nominal consideration. The put and associated repurchase of the joint venture interest are anticipated to close on or around October 12, 2026.
“We would like to express our sincere appreciation for the opportunity to partner with Giga Metals on the Turnagain project since 2022,” said Kota Ikenishi, general manager of the battery mineral department, Mitsubishi. “This decision is not a reflection of Turnagain, nor of the dedication, commitment and hard work demonstrated by the Giga team. Rather, it is the result of Mitsubishi’s broader portfolio review and assessment of the North American nickel and EV markets since investment.”
“We want to thank Mitsubishi for its investment in the Turnagain project,” said Scott Lendrum, CEO of Giga Metals. “Together, we completed a robust prefeasibility study of our nickel/cobalt deposit in 2023. Since then, due to continued uncertainty in the nickel market, we have turned our attention to the copper exploration potential in the 80 per cent of the Turnagain ultramafic system that remains unexplored or underexplored. A multiphase exploration program is currently under way, guided by Dr. Stephen Beresford, with an emphasis on known copper mineralization and the significant potential of the Attic zone.”
Giga Metals’ core asset is the Turnagain Project located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. The prefeasibility study was released in October, 2023. The Turnagain ultramafic complex is also prospective for copper, platinum and palladium mineralization in the Attic zone, an area adjacent to the known nickel resource.