Giga Metals Corp. (TSX.V: GIGA, OTCQX: GIGGF) has recently received a significant report from renowned geologist Dr. Stephen Beresford, shedding light on the exploration potential of the Turnagain project in British Columbia. This update comes as part of the company’s ongoing efforts to identify high-grade mineral targets within the Turnagain ultramafic complex.
Mark Jarvis, CEO of Giga Metals, emphasized the importance of fresh perspectives in their exploration strategy. “We wanted to get fresh eyes on our data,” he stated, highlighting that despite having conducted 383 drill holes totaling over 97,000 meters and various geochemical and geophysical surveys, more than 80% of the Turnagain complex remains unexplored or underexplored. Jarvis expressed enthusiasm about collaborating with Dr. Beresford, who is recognized as one of the leading nickel exploration geologists globally.
Dr. Beresford’s mandate was to evaluate the prospectivity of potential high-grade targets within the mineralized system and propose an exploration program focused on these targets. His findings indicate multiple promising target types, including a potential Volkovsky-type massive copper sulfide magnetite deposit in the Attic zone and semi-massive sulfide Breccia pipes within both the Attic and Bench zones. These targets are comparable to known deposits such as Giant Mascot and Aguablanca, suggesting a rich potential for discovery.
To further refine their exploration approach, historical magnetic survey data is being reprocessed to better define the geometry of the intrusive formations and assist in designing a gravity survey.
The Turnagain project is one of the largest undeveloped sulphide nickel and cobalt resources globally, located in northern British Columbia. It is held by Hard Creek Nickel Corp., a joint venture where Giga Metals owns 85% and Mitsubishi Corporation holds a 15% stake. The project aims to produce high-grade nickel concentrate critical for electric vehicle (EV) batteries, aligning with increasing demand for sustainable materials in the energy transition.
A Pre-Feasibility Study (PFS) released in October 2023 confirmed that Turnagain has a long mine life of approximately 30 years with an average production rate exceeding 35,000 tonnes per year of nickel and over 2,000 tonnes per year of cobalt. The study also highlighted that the project would utilize clean hydroelectric power, significantly reducing its carbon footprint compared to other nickel mining operations.
The estimated capital cost to develop the Turnagain mine is projected at C$4.8 billion (approximately $3.6 billion), necessitating strategic partnerships for funding. Jarvis noted that the report was prepared with potential investors in mind, indicating Giga Metals’ commitment to advancing discussions with stakeholders interested in financing this promising venture.
As Giga Metals continues to refine its exploration strategies and strengthen its project viability, it remains focused on its goal of establishing one of the lowest carbon intensity nickel mines globally. This aligns with broader industry trends emphasizing sustainability and responsible sourcing in the face of escalating global demand for electric vehicles and renewable energy solutions.
