March 8, 2022
Flying Nickel Mining Corp. (TSXV:FLYN, Not Rated, Timothy Lee) announced it has commenced drilling at its 100%-owned Minago nickel-sulphide project in the Thompson nickel belt of Manitoba, Canada. The program will consist of a total of seven holes (4,980m) of exploration and infill drilling. It will test Minago’s North Limb deposit both at depth and to the north, areas which were previously unexplored, as well as the south target of the main Nose deposit, which accounts for the majority of Minago’s current resource. We note that this resource includes over 1B lb Ni in all resource categories, including 1) M&I resources – 44.2Mt at 0.74% Ni for 721.6M lb Ni, and 2) inferred resources – 19.55Mt at 0.74% Ni for 318.9M lb Ni. Overall, we are encouraged to see the company quickly begin work at the Minago project. Although Flying Nickel is a new public company, it has an advanced project with a sizeable resource that has higher grades than most other nickel development projects in the market. The project is well positioned for development, with a highway and 230 kV power lines crossing the property, and it is located in an established mining area in the Thompson nickel belt. The company is looking to rapidly move forward with permitting and completion of an updated feasibility study in 2022. Read more
