Minier – Exploration – Forestier – Industriel – Commercial 

Anxiety Grips Nickel Market as Inventories Fall by Record Again…Nickel-Copper-Cobalt Project in Sweden Drill Program Now Underway

Anxiety Grips Nickel Market as Inventories Fall by Record Again

LME nickel inventories sink to the lowest level since 2012
Supply shockwaves have underpinned a spike in prices this year

The nickel market is being roiled by Indonesia’s impending ban on ore exports, with traders rushing to withdraw as much metal as possible.

Inventories tracked by the London Metal Exchange posted a record decline for a second straight day, adding fuel to a rally that’s put prices on course for their biggest annual gain since 2006.

Stockpiles of the metal — a key ingredient in alloys like stainless steel — are now at the lowest level since 2012. It’s the latest sign that supply shockwaves are reverberating through the global market ahead of Indonesia’s ban, due to start in January.

Prices climbed 0.9% to $17,790 a ton at 5:51pm in London, adding to a 66% gain this year. For the week, inventories have fallen by about 25,000 tons, far surpassing a previous record set in 2015.

Nickel stockpiles saw biggest drop on record this week

The decline in inventories has come amid intense bidding for short-dated contracts on the LME that’s caused nickel’s forward curve to invert, with spot contracts trading near the biggest premium to three-month futures since 2007. That condition, known as a backwardation, is seen in the industry as a hallmark feature of a supply shortage.

Most other industrial metals have dropped this year because of mounting concerns over demand as factory activity across Asia, Europe and the U.S. enters a sharp contraction.

Other metals were mixed. Copper declined 0.3% to settle at $5,643 a ton in London, after falling as much as 1%, as investors digested a mixed U.S. jobs report for September. Zinc and lead traded higher while aluminum and tin were little unchanged.

SIENNA NEWS:

Drilling on Flagship Slättberg Nickel-Copper-Cobalt Project in Sweden Now Underway

Sienna Resources (SIE—TSX.v) (A1XCQ0 –FSE) (SNNAF—OTCBB) wishes to announce that a multi-hole drill program on Sienna’s flagship nickel, copper and cobalt Slättberg Project in Sweden has now commenced.

Jason Gigliotti, President of Sienna states, “This is a very exciting time for Sienna.  It has been well over a year since our last drill program and drill results are what the market wants to see.  The work programs over the past few years have enabled us to razor focus the drill program into the most highly prospective locations for nickel. Nickel prices have recently risen to 5 year highs and this is a very opportune time to be drilling for nickel.  We are partnered with a NYSE mining company (EMX Royalty Corporation) on this project and we look forward to what the drilling will uncover.”

Data gathered from the 2018 Slättberg drill program, in addition to downhole Electro-Magnetic surveys and modern sampling & geophysical work have provided multiple new high priority drill targets.  This work program is fully funded by cash on hand.

Slättberg is located 25 kilometers northwest of Falun, Sweden. Slättberg is a historic mining camp hosting nickel-copper-cobalt rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines. The Project contains drill defined massive sulfide mineralization that extends to ~100 meters in depth, and remains open for expansion at depth and along strike.  The Project is accessible year round, with nearby rail, power and 5 smelters in the Nordic region.  At least 16 historic mines are located on the property, with historic operations dating back to the late 1800’s.

Mineralization at Slättberg is hosted by 1.8-1.9 Ga (Svecofennian) supracrustal rocks (metavolcanics and metasediments) located along the southwestern flank of a large gabbroic intrusive complex. The historic mines are positioned along an east-west trend of massive sulfide occurrences developed in and around a similarly oriented body of “leptite”. This is a local term used to describe rhyolitic/felsic tuffaceous rocks commonly associated with sulfide mineralization in Bergslagen. Mafic and ultramafic rocks also occur in and around the mine workings.

Sweden is at the forefront of an exploration and development boom in the mining industry. The country’s favorable business environment includes a low corporate income tax rate, a proactive geological survey, and broad public support for export-led resource extraction. Sweden has a long history of mining, and is host to some of Europe’s largest active mines.

The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.

If you would like to be added to Sienna’s email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.

Contact Information
Tel:  1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com

“Jason Gigliotti”
President, Director
Sienna Resources Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

ABOUT SIENNA:

Sienna Resources Plans 2019 Multi Hole Drill Program at Slättberg Nickel-Copper-Cobalt Project in Sweden

Partnered with a NYSE Listed Mining Company

Data gathered from the 2018 Slättberg drill program, in addition to Downhole Electro-Magnetic surveys and modern sampling & geophysical work have provided multiple NEW high priority drill targets

Fully funded for 2019 drill program

Jason Gigliotti, President of Sienna states, “The initial results of the 2018 drill program were encouraging but further target definition was required.   Follow up EM surveys and new sampling work have provided new multiple high priority drill targets, which we plan to test this summer. We look forward to a very active 2019 as we still have cash reserves to cover the planned drill program.”

Last time Sienna had a drill program this is what happened:


Nickel Prices Have Had a Strong Move:

2019 Planned Drill Program:


About Sienna Resources Inc.:

Slättberg Nickel-Copper-Cobalt Project in Sweden.

Slättberg is located 25 kilometers northwest of Falun, Sweden. Slättberg is a historic mining camp hosting cobalt-nickel-copper rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines. The Project contains drill defined massive sulfide mineralization that extends to ~100 meters in depth, and remains open for expansion at depth and along strike.  The Project is accessible year round, with nearby rail, power and 5 smelters in the Nordic region.  At least 16 historic mines are located on the property, with historic operations dating back to the late 1800’s.

Mineralization at Slättberg is hosted by 1.8-1.9 Ga (Svecofennian) supracrustal rocks (metavolcanics and metasediments) located along the southwestern flank of a large gabbroic intrusive complex. The historic mines are positioned along an east-west trend of massive sulfide occurrences developed in and around a similarly oriented body of “leptite”. This is a local term used to describe rhyolitic/felsic tuffaceous rocks commonly associated with sulfide mineralization in Bergslagen. Mafic and ultramafic rocks also occur in and around the mine workings.

Sweden is at the forefront of an exploration and development boom in the mining industry. The country’s favorable business environment includes a low corporate income tax rate, a proactive geological survey, and broad public support for export-led resource extraction. Sweden has a long history of mining, and is host to some of Europe’s largest active mines.

Northvolt is planning to be the largest battery factory in Europe at roughly the same size as Tesla’s Gigafactory. Jason Gigliotti states “Northvolt wants to locally source as much battery material as possible such as cobalt and nickel. There are now more than 20 mega battery factories currently being planned or constructed globally, creating a massive demand on the battery metals such as lithium, cobalt and nickel. Sienna is focused on exploring and developing projects that will meet this insatiable demand.”

‘Clayton Valley Deep Basin Lithium Brine Project’ in Nevada:



If you would like to be added to Sienna’s email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources

Contact Information
Tel:  1.604.646.6900
Fax: 1.604.689.1733

www.siennaresources.com
info@siennaresources.com
@SiennaResources  Twitter

“Jason Gigliotti”
President, Director
Sienna Resources Inc.

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