Quebec Nickel Corp. [QNI-CSE] said Friday it has received final approval to list its shares on the Canadian Securities Exchange. The shares were expected to begin trading today.
The company’s principal asset is the Ducross Group Property which is located on the Abitibi Greenstone Belt in Quebec
The property is located approximately 80 kilometres northwest of the city of Val-d’Or, halfway between the towns of Senneterre and Lebel-sur-Quevillon.
It consists of 239 contiguous mining claims, covering 12,818 hectares. The company has said it intends to use its available funds to carry out a two-phase exploration program. Phase 1 is budgeted for $374,220.
Depending on the results of phase 1, the company will consider a Phase 2 diamond drilling portion of the exploration program that is expected to cost $2.3 million. It was anticipated that after the shares were listed, the company would have enough cash available to execute the first phase of exploration.
Initial exploration is expected to consist of heliborne magnetic and electromagnetic surveys, reconnaissance mapping, prospecting and sampling, outcrop stripping and detailed mapping.
Quebec Nickel is headed by CEO David Patterson, a former CEO of Emerita Resources Corp. [EMO-TSXV], an exploration and development company with a focus on Spain. He was also chief financial officer of Donner Metals Ltd., which was listed on the TSX Venture Exchange from August 2005, to October, 2012.
Patterson is also a director with Snowy Owl Gold Corp [SNOW-CSE], and Xplore Resources Corp. [XPLR-TSXV].
Quebec Nickel director Michael Rosatelli is an experienced mineral exploration geologist who is serving as vice-president, exploration with Golden Valley Mines Ltd. [GZZ-TSXV] and Val-d’Or Mining Corp. [VZZ-TSXV].
Rosatelli has worked as an exploration geologist for over 30 years in various positions with both major and junior companies, including BHP Billiton Ltd. [BHP-NYSE, BHPLF-OTCPK], AngloGold Ashanti, Band-Ore and Kennecott.
The Ducros Group property is known to contain magmatic nickel-copper-platinum group element (PGE) sulphide mineralization hosted within known ultramafic intrusive units associated with historical mineralized occurrences defined by surface mapping and drilling.
The company said it sees the potential for both bulk tonnage and high-grade nickel sulphide zones with significant copper and platinum, plus palladium mineralization, based on existing historical exploration work conducted only over limited sections of the extensive ultramafic intrusions indicated on the property.
Presently, two known nickel-copper-PGE magmatic sulphide showings (the Fortin Showing and Ducros Sill) are known to exist on the property and have only seen limited surface sampling and drilling. However, based on the extensive mapped ultramafic intrusions mapped, considerable potential exists for delineating new sulphide occurrences or extensions of the known historical exploration at depth and along strike.