Quebec Nickel Overview
Quebec Nickel Corp. is a Canadian company focused on exploring for high-grade nickel-copper-platinum group elements deposits in Quebec, starting with its 100%-owned Ducros property located in the eastern Abitibi Greenstone Belt.
Source: Quebec Nickel
The Opportunity in the Abitibi Region
The Abitibi region has a long history of Nickel resource discoveries.
David Patterson knows this better than almost anyone else and as Nickel prices began to rebound in 2020, he reached out to his long time business partner Glen Mullen, who owned a property with an extremely prospective nickel drill result.
The original well intersected 20 metres of elevated nickel, copper platinum and palladium.
A lot of companies have sites in the Abitibi but most of this Nickel is tied up in silicates.
Quebec Nickel was built to look for Class 1 nickel tied up in sulfites.
Sulfite bearing Nickel is often more highly concentrated leading to higher yields and better profitablitity.
The company also identified chalcopyrite in the rock.
The physics and chemistry that creates chalcopyrite often creates sulfites where high concentrations of Nickel can be found as well.
This gives the company an advanatge over others in the Abitibi and recent drill results of anomalous nickel may have confirmed the strategy was a smart one.
David believes there could be several dollars of nickel per lb of rock.
The company made an announcement in August regarding their drilling hole 28 and 29. They reported 1.44% percent nickel (other companies have reported 0.1%-0.2%).
Alongside the nickel, they also are extracting 1.5% copper plus almost 3 grams of platinum, palladium, and gold for each pound of rock.
David believes they have the best drill core for economics in the region when it comes to critical metals.
Quebec Nickel Upcoming Catalysts
To begin with, Quebec Nickel’s operational location is very economical. Road, rail, airports, and power are all within 200 meters of the property.
The current drill program started in March, but Quebec Nickel has still explored less than 1% of the property, so more work needs to be done across the 150 sq km of sulphur bearing rock.
The company has added 3 drills that are working 24/7 to speed of exploration and move faster towards development and ultimately production.
They have grown from having one geologist who worked on weekends to a full time crew of 12, with all staff working locally to save time and money.
The company believes that Quebec is the best location for battery metals, with the requisite governmental support and infrastructure build (there are 3 processing plants already in the construction stage).
Source: Quebec Nickel
A Supercycle Could be Brewing for Nickel
There has been a decade of underinvestment in nickel.
There hasn’t been a discovery of a Class 1 nickel discovery in Canada in 80 years.
Canada has fantastic regions for mining in Sudbury, Ragland, Thompson and now potentially, the Abitibi.
To incentive more production, higher prices are required, which is positive for miners.
Given the exploding demand for Nickel from car and storage battery applications, it only makes sense that prices have to go higher to make it worth the while of explorers and producers.
Source: Quebec Nickel
If you are interested in learning more about Quebec Nickel, please visit the company’s official investor website.
About Author
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.