Nickel X identifies advanced project acquisition option - The Pick Online Magazine

Nickel X (ASX: NKL) has executed an exclusive option to acquire 100% of an advanced nickel and advanced hard rock lithium exploration project, in Central Europe, within proximity to where 27 lithium battery “Gigafactories” are planned for 2030.

We are very excited to have secured the option to acquire, explore and develop the large-scale Ni-Cu-Co mineralisation at Ransko, as well as the highly prospective Otov1 LCT pegmatite, which was historically only mined for Feldspar, which is one of the 17 known LCT pegmatites, and where large spodumene crystals, up to 70cm, are reported,” Managing Director Matt Gauci said.

“Should we decide to exercise the option, the company will formalise an existing exploration partnership with Aurum Discovery Limited, a highly respected European based exploration consultancy, with in-country representation, to ensure efficient operations, ongoing stakeholder engagement and progression of the existing EU Funded SEMACRET Project, which aims to promote exploration for Critical Raw Materials in the EU.

It is an unprecedented time for energy transition in Europe with the passing of the EU Critical Raw Materials (CRM) Act and the adoption of the EU Green Deal, transforming the requirement for and funding of, exploration, development and mining of critical minerals.

“These critical minerals are well demonstrated within both the Ransko and Otov projects.

The projects are exceptionally well located, almost on the doorsteps of 27 lithium battery ‘Gigafactories in Europe planned for 2030.

“Ransko and Otov are within a c.500km radius of these Gigafactories and there is also potential for Volkswagen (VW) (and Czech based subsidiary Skoda Auto) to build a Gigafactory within the Czech Republic.”

Project Overview

• Ransko Nickel-Copper-Cobalt (Ni-Cu-Co) project:
  • The Rankso Permit covers 6.93 sq. km and hosts significant Ni-Cu-Co mineralisation defined by historic mapping, sampling, geophysics, limited vertically oriented drilling and exploration shafts and adits. No modern exploration techniques and resource modelling have been undertaken since the mid-1960’s.
  • The project contains a rich historical dataset from 7 known sulphide deposits with indications of multiple magma pulses and sulphide events, where remobilisation and enrichment is related to local faults and intrusions.
  • The project is one of the beneficiaries of the EU €7.5M Funded SEMACRET Project which aims

• The Otov Hard Rock Lithium (Li) project:
  • The Otov Permit covers 18.1 sq. km and hosts significant Li (Spodumene) mineralisation defined by mapping and sampling of underground workings from limited historical feldspar mining at the Otov1 pegmatite.
  • The Otov1 Lithium-Caesium-Tantalum (LCT) pegmatite appears to be vertically zoned as spodumene increases with depth (current depth from historical feldspar mining is c. 50m). Spodumene crystals measure up to 70cm in length.
  • The Otov1 pegmatite deposit is one of 17 mapped pegmatites in the permit area which have not been the subject of modern exploration techniques.

• EU’s Transition to Green Economy:
  • The EU Critical Raw Materials (CRM) Act, has been adopted by the EU Commission in March 2023. The legislation aims to make the EU more self-reliant on mining including Nickel, Copper, Cobalt and Lithium

The EU Green Deal recently adopted also aims to allocate €1 Trillion of Funding to combat Climate Change and €40B to transition fossil fuels to green energy, which would including investments in Nickel, Copper, Cobalt and Lithium.