Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV: MUR) is pleased to announce that, following the approval of the TSX Venture Exchange, it has completed the acquisition of Pure Nickel Inc.'s 50% interest in the HPM nickel-copper-cobalt project in Québec (the "Property") by making the required $50,000 payment and issuing 500,000 common shares of the Company to Pure Nickel (see press release dated February 28, 2019).
Image: Nickel spheres made by the Mond process. Photo courtesy of René Rausch/Wikimedia Commons.
The Company now owns 100% of the Property.
Also, the Company announces that it has granted 665,000 stock options to directors and key consultants of the Company. The stock options are exercisable for a period of 5 years at a price of $0.095 and vest immediately.
About the HPM Project:
The HPM (Haut Plateau du Manicouagan) property consists of 51 claims covering 2,726 hectares.
The Property is underlain in part by the composite Gabbro Est intrusive, which hosts several grass roots nickel-copper-cobalt showings. Significant historical prospects were found by Falconbridge Ltd. (“Falconbridge”, now known as Glencore) and include: Barre de Fer (1.74% Ni, 0.90% Cu and 904ppm Co over 43.18 metres from the 2008 drill program) and the PYC showing (0.59% Ni and 0.93% Cu from surface grab samples and 15.3 metres of disseminated to semi-massive sulphides grading 0.28% Ni, 0.14% Cu and 626 ppm Co from a single hole drilled by Xstrata Nickel in 2000).
The Property is located approximately 290 km north of Baie-Comeau and 180 km north-northwest of Sept-Îles. The property is accessible by helicopter and is located approximately 20 km east of Route 389, an all-weather road connecting Baie-Comeau to Fermont to Labrador City.
Source: Company Press Release