660 million pounds of in-situ nickel
Building Canada’s next mid-tier Nickel Company
A Track Record of Exploration and Development Success
Victory Nickel Inc. is a growth-oriented Canadian nickel company with over 660 million pounds of in-situ nickel in National Instrument 43-101-compliant measured and indicated resources and an additional 530 million pounds of in-situ nickel in inferred resources at its Minago, Mel and Lac Rocher sulphide nickel deposits.
Victory NickelCompletes Acquisition of Independent nickel - JAN 5, 2009
Recently created from the nickel assets of Nuinsco Resources Limited (TSX:NWI), Victory Nickel is a well financed pure-play nickel company focused on becoming a producer by developing our existing properties and evaluating opportunities to expand our asset base.
Focused on creating a mid-tier nickel company
One of Canada’s largest undeveloped sulphide nickel resources in four deposits
- Lac Rocher
- Lynn Lake
·16-year mine life (open pit and underground) atMinago alone based on PEA
·Potential early cash flow from frac sand production at Minago
·Strong management and board with significant shareposition
·Low relative valuation: enterprise value per pound ofnickel
Victory Nickel’s assets in Manitoba and Quebec include:
Minago Project, Manitoba
Victory Nickel is advancing its 100% owned Minago Project, located 225 kilometres south of Thompson, Manitoba in the Thompson Nickel Belt, toward production. NI 43-101 measured and indicated resources total 49,000,000 tonnes grading 0.516% nickel (558,000,000 pounds of in-situ nickel), plus an additional inferred resource of 44,100,000 tonnes grading 0.528% nickel (513,000,000 pounds of in-situ nickel). A recent scoping study placed a net present value on Minago of $334,000,000 using an 8% discount rate and a nickel price of US$7.43/pound. Significant upside remains to the north of the resource area and at depth, where a recent drill hole ended at 830 metres depth in 3.93 metres grading 1.91% nickel. A bankable feasibility study is underway, and is expected to be complete in early 2008.
Mel Project, Manitoba
Victory Nickel is earning a 100% interest from CVRD Inco Ltd. in the Mel Project, located in northern Manitoba, 25 kilometers north of the city of Thompson. The near-surface Mel deposit offers near-term production potential and exploration upside, and hosts 4,279,000 tonnes of NI 43-101-compliant measured and indicated nickel resources grading 0.875% nickel for 83,000,000 pounds of nickel, and an additional 1,010,000 tonnes grading 0.839% nickel for 19,000,000 pounds of contained nickel.
Lac Rocher Project, Quebec
Located in northwestern Quebec, some 140 kilometres northeast of the village of Matagami and about 50 kilometres east of paved Highway 109, the high-grade Lac Rocher project is a significant discovery. A 3.2 metre massive sulphide intersection in drill hole NLR-99-01 returned a weighted average of 10.8% nickel as part of a 61.5 metre interval grading 1.69% nickel. Subsequent drilling has delineated a measured and indicated nickel resource of 1.2 million tonnes grading 0.93% nickel for an in-situ total of 25 million pounds of nickel.