Canickel Achieved Record Mill Recovery Rate
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/17/12 -- CaNickel Mining Ltd. ("CaNickel" or the "Company") (TSX: CML), is pleased to report that an average of 79.1% mill recovery rate was achieved in March 2012. A total of 21,032 tonnes of ore with an average feeding grade of 1.19% were milled, producing a record nickel metal of 428,640lbs for the month. The highest daily recovery rate achieved in March 2012 was 86.1%.
Production results from Bucko Lake mine for the first quarter of 2012 ("Q1 2012"), each month of Q1 2012, and full year 2011 are summarized as follows (no production in Q1 2011):
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March February January Q1 Year
Bucko Lake Mine 2012 2012 2012 2012 2011
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Ore mined (tonnes) 16,011 19,405 25,102 60,518 107,451
Ore milled (tonnes) 20,581 21,081 12,372 54,034 102,069
Head grade 1.19% 1.19% 1.16% 1.18% 1.18%
Mill recovery rate 79.1% 73.4% 71.7% 75.2% 61.0%
Nickel produced (lb) 428,640 406,687 226,729 1,062,056 1,631,916
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Dr. Dianmin Chen, the Director and CEO of CaNickel, comments that we are pleased to see mill production at our Bucko Lake Mine achieved the record results in mill recovery and nickel metal produced. It has been truly a great team effort from everyone within the Company to ensure we achieve an optimum result in our operations. We are still fine tuning our mill process for better performance at Bucko Lake Mine and are confident that we can continue to improve to achieve our production targets.
ABOUT CANICKEL
CaNickel Mining Limited, formerly "Crowflight Minerals Inc.", (TSX: CML) is a Canadian junior mining company that owns and operates the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Further information is available on the Company's website at www.canickel.com.
Advisory Respecting Forward-Looking Information
This press release contains forward-looking statements under Canadian securities legislation. Forward looking statements include, but are not limited to, statements with respect to tuning mill process for better performance and continue to improve to achieve production target. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks of the Company described in its annual information form that is available under its profile on SEDAR at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Contacts:
CaNickel Mining Limited
Dr. Dianmin Chen
Director and CEO
204 - 689 2972 ext.1031
dchen@canickel.com
CaNickel Mining Limited
Derek Liu
CFO and Corporate Secretary
778 - 372 1806
dliu@canickel.com
www.canickel.com
