Class 1 Nickel Announces Updated Mineral Resource Estimate for Dundonald North Nickel Sulphide Deposit
Toronto, March 27, 2025 – Class 1 Nickel and Technologies Ltd. (CSE: NICO, OTCQB: NICLF) (“Class 1 Nickel” or the “Company”), is thrilled to share an updated mineral resource estimate (MRE) for the Dundonald North Nickel Sulphide Deposit (D-N Deposit), one of the four nickel sulphide deposits within the expansive Alexo-Dundonald Nickel Sulphide Project (A-D Project), covering approximately 3,093 hectares (30.93 km2) (Figure 1). The D-N Deposit is located about 45 km northeast of the mining center and City of Timmins, Ontario.
Refining the Project’s Mineral Resource Base
Over the past two years, Class 1 Nickel has been dedicated to enhancing the mineral resource base of the A-D Project. This commitment is a reflection of the Company’s strategic focus on building a robust portfolio of nickel sulphide resources in one of Canada’s premier mining districts. The updated MRE for the D-N Deposit is a testament to the Company’s efforts and underscores its ongoing commitment to the project.
Updated Mineral Resource Estimate for Dundonald North Nickel Sulphide Deposit
The updated MRE for the D-N Deposit includes an increase in indicated resources from 12.9 million tonnes (Mt) grading 0.45% nickel (Ni) to 14.8 Mt grading 0.46% Ni, and an increase in inferred resources from 13.8 Mt grading 0.41% Ni to 17.3 Mt grading 0.40% Ni (Table 1 and Table 2). These improvements demonstrate the potential for significant growth within the D-N Deposit.
Impact on Class 1 Nickel and the Mining Industry
The updated MRE for the D-N Deposit represents a significant step forward for Class 1 Nickel as it continues to develop its nickel sulphide resources. With the growing demand for nickel in the electric vehicle (EV) battery market, the Company is well-positioned to capitalize on this trend and contribute to the global transition towards clean energy.
Global Implications
The mining industry stands to benefit from the updated MRE for the D-N Deposit as it highlights the potential for substantial growth in nickel sulphide resources. This development could contribute to a more secure and sustainable nickel supply chain, which is crucial for the global transition towards renewable energy sources.
- Canada’s premier mining district: The A-D Project is located in one of Canada’s most renowned mining districts, which is home to numerous mining companies and a skilled workforce.
- Increased nickel resources: The updated MRE for the D-N Deposit represents a significant increase in nickel resources, which could lead to increased production and revenue for Class 1 Nickel.
- Contribution to the EV battery market: The growing demand for nickel in the EV battery market presents an opportunity for Class 1 Nickel to contribute to the global transition towards clean energy.
- Secure and sustainable nickel supply chain: The development of substantial nickel sulphide resources could contribute to a more secure and sustainable nickel supply chain, which is essential for the global transition towards renewable energy sources.
Conclusion
The updated mineral resource estimate for the Dundonald North Nickel Sulphide Deposit is a promising development for Class 1 Nickel as it continues to advance its nickel sulphide resources in one of Canada’s premier mining districts. This growth could contribute to a more secure and sustainable nickel supply chain, enabling the global transition towards renewable energy sources. With the growing demand for nickel in the electric vehicle battery market, Class 1 Nickel is well-positioned to capitalize on this trend and make a significant impact on the mining industry and the world.
