Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF) today announced that it has successfully completed its carbon storage pilot plant, demonstrating the value of its novel carbon storage process, In-Process Tailings (“IPT”) Carbonation. According to the update, the company processed more than 7 tonnes of tailings and confirmed the engineering design parameters for IPT Carbonation for incorporation in the Integrated Feasibility Study (“IFS”) expected to be released on Oct. 12, 2023. The pilot plant also was utilized to successfully apply the IPT Carbonation process to material from a third party, demonstrating the potential to commercialize the process for other projects. In addition, a study by a leading strategy house confirms that the Canada Nickel Crawford project could reasonably expect in excess of C$25 per tonne of CO 2 in storage fees from its IPT Carbonation process based on publicly known storage fees and given communicated carbon price and policy status.
“Our successful pilot plant results, coupled with this study, confirm the significant value potential of the company’s IPT Carbonation process,” said Mark Selby, CEO of Canada Nickel. “The potential demand for more than 20 million tonnes annually of CO 2 storage is well in excess of the 1 million tonne capacity for Crawford, which supports our company’s belief that our Timmins Nickel District can anchor a Zero Carbon Industrial Cluster in the Timmins – Cochrane region. The work also supports our belief that the Crawford project can qualify a portion of its capital expenditures to take advantage of the carbon capture and storage refundable tax credits announced by the federal government in its 2022 budget.”
To view the full press release, visit https://ibn.fm/5SdJQ
About Canada Nickel Company Inc.
Canada Nickel is advancing the next generation of nickel- sulphide projects to deliver nickel required to feed the high-growth electric vehicle and stainless steel markets. Canada Nickel has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM) and is pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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