Hard Creek Nickel Corporation (TSX-V: HNC) is a natural resources exploration and development company which holds mineral claims in northern British Columbia and on Vancouver Island. Its project focus is its 100%-owned Turnagain property, which contains a large defined nickel resource.
The Turnagain nickel property is located 70 kilometers east of Dease Lake in northern British Columbia. The mineral claims which make up the property cover an area of approximately 29,370 hectares centering on the Turnagain River.
The property is hosted by an Early Jurassic Alaskan-type ultramafic intrusion within Paleozoic to Early Mesozoic metasedimentary and metavolcanic rocks and covers the known extent of the intrusion. Nickel is the principal commodity of interest on the property, with drill holes found to contain nickel values equal to or greater than 0.10% over entire hole lengths, with copper values averaging 0.05% and cobalt values average less than 0.02%. Analysis has found that between 60% and 90% of the nickel values exist in the form of sulphide minerals. The principal zones of sulphide mineralization on the property include the Horsetrail, Northwest, Hatzl and Duffy. Exploratory drilling during 2007 on the property's Cliff zone returned nickel grades similar to those in the Horsetrail zone but with significant platinum and palladium values.
A resource estimate at May 31, 2008 was completed by AMEC based on 66,393 metres of diamond drilling in 257 drill holes. This is an update of the resource estimate provided in the AMEC Americas Limited report entitled Turnagain Nickel Project, British Columbia NI 43-101 Technical Report on Preliminary Assessment.
The Company is continuing metallurgical work and is advancing engineering work toward the pre-feasibility level. Over the next two years, plans are to complete an environmental assessment and an economic impact study, and to carry out consultation and accommodation with the Kaska and Tahltan First Nations.
Critical to bringing the Turnagain Property to production is the construction of a power line up Highway 37 from the Terrace, British Columbia area. Planning for a power line had earlier been underway as a partnership between the Government of British Columbia and NovaGold Resources Inc. for the latter's Galore Creek project, but when development of Galore Creek was suspended due to rapidly escalating costs, planning on the power line was also halted. Numerous interested parties, including the mayors of local communities, local businesses, independent power producers and junior mining companies with projects in the region, have been urging that the Government resume planning, with funding for eventual development coming from both public and private sources. Although the Company is investigating alternative sources of power, a power line extending to Dease Lake would be the most desireable option for it and other stakeholders in the electrification initiative.
Disclaimer: This profile includes the use of inferred resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The noted assessment results are preliminary in nature and there is no assurance the mining scenarios outlined would ever be realized. This profile uses the terms "measured", "indicated" and "inferred" resources. U.S. investors are cautioned that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories would ever be converted to reserves. This document contains "forward looking statements" which are subject to risks, both known and unknown, which may affect the outcome of such forward looking statements. Known risks include, but are not limited to, financing risks, commodity price risks, scheduling risks and engineering risks.
Resource World Radio Interview With Executive Vice President Neil Froc
Mark C. Jarvis
President and CEO
Mr. Jarvis has considerable experience in the financing and operations of public companies, primarily in exploration and production of mining and oil and gas projects. After a career in financing exploration projects as a stockbroker, Mr. Jarvis moved to the corporate side of the business by joining the Board of Ultra Petroleum, at the time a small oil and gas exploration and development company, in 1996. As Director responsible for Corporate Finance, he raised the equity capital necessary for proof of concept and to establish enough production to leverage further growth through debt financing. Ultra Petroleum has grown through the drill bit from a market capitalization of U.S. $10 million to its current capitalization of more than U.S. $3 billion. Mr. Jarvis is also a former President of Gemini Energy Corp., another successful oil and gas company. Mr. Jarvis has held the position of CEO and President of Hard Creek Nickel Corporation since January 7th 2004.