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Giga Metals Pronounces Optimistic Pre-Feasibility Examine for the Turnagain Nickel-Cobalt Deposit Specific Occasions

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VANCOUVER, British Columbia, Sept. 22, 2023 (GLOBE NEWSWIRE) — Giga Metals Corp. (TSX.V: GIGA) (“Giga Metals” or the “Firm“) right now introduced the outcomes of a Pre-Feasibility Examine (PFS) ready in accordance with Nationwide Instrument 43-101 for the Turnagain Nickel-Cobalt Mission situated in British Columbia, Canada. Turnagain is owned by Onerous Creek Nickel Corp, a three way partnership owned by Giga Metals (85%) and Mitsubishi Company (15%). All currencies are in US$.

  • Giant Lengthy-life Mine: Annual manufacturing averaging 37,288 t/y Ni+Co in focus over the nominal full working charge interval (Y3 – 28) primarily based on a 30-year challenge life with an especially low strip ratio of 0.4 tonnes waste per tonne ore
  • Optimistic Economics: Publish-tax IRR and NPV of 11.4% and $574M at a long-term nickel worth of $9.75/lb, with 78% payability for nickel in focus
  • Excessive-grade Focus: Nickel focus averaging 18% Ni and 1.1% Co with low impurities
  • Low-carbon Operation: Scope 1+2 carbon depth of <1.8 t CO2 per t Ni in focus
  • Website Working Prices: $3.85/lb Ni in focus earlier than byproduct credit at mine gate

“This PFS is a big step ahead for our challenge which is able to enable us to advance discussions with potential strategic traders,” mentioned Mark Jarvis, CEO of Giga Metals Corp.  “The success of the intensive geometallurgical research performed by Blue Coast Analysis offers confidence within the metallurgical response of your complete deposit. This engineering research reveals that the Turnagain Mission has a low-risk movement sheet that may constantly and predictably ship a high-grade, high-quality focus much like concentrates efficiently handled by nickel processing firms for many years.”

“We’re more than happy to see the optimistic Pre-Feasibility Examine,” mentioned Kota Ikenishi, Normal Supervisor of the Battery Minerals Workplace, Mitsubishi Company. “We see a nickel challenge like Turnagain with low carbon depth in a secure jurisdiction has a key position to play in the way forward for the nickel business, specifically for the battery business. We sit up for Turnagain’s potential to be additional verified in works forward.”

TO READ THE FULL PRESS RELEASE CLICK HERE:

The Pre-Feasibility Examine builds on vital metallurgical and engineering research and confirms the flexibility of Turnagain to supply high-quality nickel focus. Nickel focus is predicted to be in better demand for manufacturing of nickel merchandise comparable to blended hydroxide precipitate (“MHP”), blended sulphide precipitate (“MSP”), excessive nickel content material smelter matte or different types of Class I merchandise. MHP and Class I nickel demand is rising for the electrical automobile (EV) market, significantly supplies sourced in a socially and environmentally accountable method.

The PFS has been led and ready by Tetra Tech Canada Inc. (Tetra Tech), a worldwide consulting and engineering agency with substantial experience within the mining sector, together with enter from business professional consultants (see Certified Individuals record at finish). Giga Metals’ major driver for this replace was to ship a dependable and complete PFS incorporating all project-related elements for dialogue with potential strategic companions and communities, focusing on enchancment alternatives, and serving as a foundation for future engineering and environmental research. All currencies are in US$ utilizing an change charge of US$1.00 = C$1.30 and all manufacturing and price information are typical full working 12 months (common of years 3 – 28) except in any other case indicated.

Giga Metals expects to file the Technical Report for the PFS ready in accordance with the necessities of Nationwide Instrument 43–101 on SEDAR+ inside 45 days of this information launch, together with an outline of the up to date Mineral Useful resource Estimate and the Mineral Reserve Estimate. For readers to totally perceive the data on this information launch, they need to learn the Technical Report in its entirety, together with all {qualifications}, assumptions and exclusions that relate to the PFS. The Technical Report is meant to be learn as a complete, and sections shouldn’t be learn or relied upon out of context.

About Giga Metals Company
Giga Metals Company’s core asset is the Turnagain Mission, situated in northern British Columbia, which accommodates one of many few vital undeveloped sulphide nickel and cobalt sources on the planet. Turnagain is held in Onerous Creek Nickel, a subsidiary owned 85% by Giga Metals Company and 15% by Mitsubishi Company.

Be aware
This isn’t a whole model of the press launch. To view a full model of the press launch together with cautionary statements, click on right here:

On behalf of the Board of Administrators,

MARK JARVIS
CEO
Tel – 604 681 2300
www.gigametals.com

#203 – 700 West Pender St., Vancouver, BC, Canada V6C 1G8 T: 604-681-2300 www.gigametals.com

giga metals announces positive pre feasibility study for the turnagain nickel cobalt deposit
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