Key Takeaways:
First Atlantic Nickel Corp. has closed a $16 million, two-stage earn-in agreement with Core Critical Metals Corp. for the Lucky Mike Copper-Silver-Tungsten Project. The deal, announced on April 15, 2026, allows Core Critical Metals to acquire an 80% interest in the project.
"This agreement with Core Critical Metals provides a clear path to unlock the value of the Lucky Mike Project," said the CEO of First Atlantic Nickel in a statement. "Retaining a 20 percent carried interest to feasibility allows our shareholders to benefit from future exploration success without shouldering the development risk."
Under the terms of the agreement, Core Critical Metals can earn the 80% interest by funding $16 million in exploration and development work over two stages. First Atlantic will retain a 20% interest that is "carried to feasibility," meaning it will not have to contribute to project costs until a feasibility study is completed. First Atlantic also retains a mining royalty.
The Lucky Mike Project is a copper-silver-tungsten exploration project. The agreement provides the necessary funding to advance the project, which is located in a region known for its mineral potential. This deal structure is common in the mining industry, allowing junior explorers like First Atlantic to partner with larger companies to fund capital-intensive exploration and development.
This article is for informational purposes only and does not constitute investment advice.
