PNR identifies “significant” value in platinum group metals at Selkirk Mine, near Francistown

The Projects | Platinum Metals

Ever since being identified as preferred bidder for taking over BCL Group assets, Premium Nickel Resources Botswana, a subsidiary of Canadian Premium Nickel Resources has been onthe ground both in Phikwe and Francistown, undertaking preliminary studies to determine the assets Mineral potential and subsequently the economic viability of acquiring the assets previously owned by now defunct BCL Group.

Recently the company announced that it has uncovered “significant” platinum metals potential in Selkirk Mining complex, 28 Kilometre South East of Francistown.

The Company led by former BCL General Manager, top mining engineer Montwedi Mphathi, has been undertaking due diligence work programs on Selkirk since being selected as the preferred bidder in the Tati Nickel Mining Company liquidation process and entering into a memorandum of understanding (MOU) providing for a six-month exclusivity period.

Following its BCL Selebi Assets purchase closing, PNR moved to execute a definitive asset purchase agreement with the Liquidator of Tati Nickel Mining Company (TNMC) to acquire the Selkirk Mine and surrounding prospecting licenses and infrastructure formerly operated by TNMC.

PNRB is targeting the closing of the Selkirk Asset purchase agreement, and transfer of ownership of the asset, within 120-days from February 14, 2022.

During the 120-day closing period, PNRB will be preparing to execute a drill program with the ambition to bring the 2016 bankable feasibility study to NI 43 101 compliance.

PNRB CEO Montwedi Mphathi commented “The execution of the Selkirk APA combined with the recent acquisition of the Selebi Mines, is the final step in the negotiations to acquire the former BCL and TNMC assets. PNRB will now focus on moving forward with closing of the Selkirk Mine transaction and assuming the ownership to fast track the redevelopment based on modern, environmental best practices. Further PNRB is taking steps to review and plan the mitigation of the impact of its operations on the extensive archeological sites in the Selkirk mining lease.”

The legacy underground Selkirk Mine is situated 28 km south-east of the town of Francistown, and 75 km north of the Selebi Mines. BCL acquired Selkirk from Russian metals mining behemoth, Norilsk Nickel through a purchase agreement that was finalized in October 2014.

Norilsk was preparing Selkirk as an open pit operation and had completed Definitive Feasibility Studies in 2012 and 2013. Selkirk was then advanced to a bankable feasibility in 2016 as an open pit resource, prior to the liquidation of TNMC.

In a statement recently Premium Nickel Resources Botswana revealed that it has been diligently collecting new data, including a sampling program of HQ size core from five previously unsampled drill holes.

Approximately 288 kgs of representative ore was processed as a metallurgical sample. “The subsequent metallurgical testing, carried out at SGS Lakefield, confirmed the redevelopment plan to produce separate copper and nickel-cobalt concentrates and identified significant value in platinum group metals (PGMs) “

The proposed work plan for Selkirk includes drilling to better define existing resources, build up a geological model, further update the structural model, exploration for additional resources and additional metallurgical studies.

PNRB says it will now focus on bringing the legacy bankable feasibility back to compliance and update the environmental baseline to include a tailings management facility and dedicated processing plant to produce concentrates.

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