https://www.canadianminingjournal.com/
A multi-million-tonne nickel sulphide deposit discovered more than 10 years ago in the northern Abitibi region of Quebec is receiving fresh scrutiny
A multi-million-tonne nickel sulphide deposit discovered more than 10 years ago in the northern Abitibi region of Quebec is receiving fresh scrutiny from Archer Exploration (CSE: RCHR; US-OTC: RCHRF), the latest addition to Canada’s emerging league of battery material-focused junior exploration companies.
Grasset is one of the largest nickel sulphide deposits in Canada’s Abitibi region and the only North American nickel sulphide deposit with more than 50,000 contained tonnes of nickel and an average nickel-equivalent grade of over 1.5% that isn’t controlled by a major mining company.
Archer acquired 100% of Grasset, 77 km northwest of the city of Matagami, in July 2022 in an all-share transaction with gold-focused Wallbridge Mining (TSX: WM; US-OTC: WLBM), in a deal valued at about $53 million. Wallbridge retained a 19.9% stake and is the junior’s largest shareholder.
A resource estimate based on limited drilling in 2014-2015 by Grasset’s former owners, Balmoral Resources, and updated by Wallbridge in November 2021, outlined indicated resources of 5.5 million tonnes grading 1.22% nickel, 0.13% copper, 0.03% cobalt, 0.26 gram platinum per tonne and 0.64 gram palladium (1.53% nickel equivalent).
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