The Manibridge Nickel Mine has new owners.
It was announced earlier this week that Pure Nickel Incorporated has sold the past-producing mine located just south of Wabowden to CanAlaska Uranium.
The Manibridge nickel deposit was first discovered in 1963, with the mine in operation from 1971 until 1977 sending concentrate to both Thompson and Sudbury.
CanAlaska president Peter Dasler said that the acquisition is a strong addition to their property holdings in the area, and that it secures their position in an exciting new discovery area.
CanAlaska says that a recent drill program at Manibridge intercepted high-grade nickel, which at 21.5 feet is 2.39% nickel, 0.14% copper and 0.03% cobalt.
In exchange for the mine, CanAlaska issued Pure Nickel 300,000 shares of the company, 100,000 two-year warrants and $25,000.
Pure Nickel president and CEO David Russell said that they look forward to benefiting from the future strength of the shares and warrants as CanAlaska continues to develop their uranium assets and their Manibridge claims.
The Thompson Nickel Belt is the 5th largest and 3rd highest grade sulphide nickel belt in the world.
