Core Viewpoint - Sulliden Mining Capital Inc. has acquired a 48% interest in a nickel, zinc, and lead mining exploration project in Poland, enhancing its portfolio in the European mining sector [1][2]. Acquisition Details - The acquisition was made through the purchase of 48% of the issued and outstanding shares of Ferrite Resources Polska sp. z o.o. for 62,500 euro, with no finder fees paid and no change of control of Sulliden resulting from the transaction [2]. - The project consists of the Szklary and Dabrowka concessions, both of which are fully owned by the Target [2]. Project Overview - Szklary is a nickel laterite deposit located approximately 50 km south of Wroclaw, Poland, with historical production recorded as 3.5 million tonnes at 0.79% nickel, totaling 28,000 tonnes [3]. - The Szklary deposit has a JORC-compliant historical inferred mineral resource of 32.9 million tonnes at 0.70% nickel [3]. - Dabrowka is located 25 km north of Katowice and requires minimal primary development, with plans for additional drilling to complement historical exploration [4]. Exploration Plans - The company plans to drill an additional 30 holes at Szklary to confirm historical inferred mineral resources and 27 holes at Dabrowka to further explore the site [3][4]. - The project benefits from proximity to two smelters within 20 km and utilizes proven mining methods, including room and pillar mining and magnetic separation of ore [6]. Transaction Cancellation - A previously announced acquisition to indirectly acquire a 5.2% interest in the project has been terminated, with the company's interest in Sustainable Royalty Corp. returned to a former executive [10]. Company Background - Sulliden is focused on acquiring and advancing brownfield, development-stage, and early production-stage mining projects across various regions, including Europe [11].
Sulliden Acquires 48% of Nickel, Zinc, and Lead Mining Exploration Project in Poland