Canada Nickel Company (TSXV:CNC) Reports Assay Results and Significant New Discovery From Recently-Acquired Deloro Property

Figure 1 – Plan View of Deloro – Drill Results Overlain on Total Magnetic Intensity. Source: Canada Nickel Company

Canada Nickel Company (TSXV:CNC) recently acquired the Deloro property and has already reported a new discovery at the property. This is the second discovery at one of its two recently acquired properties, the other one being the Reid property. Drill intersected 487 metres of 0.25% nickel with a high-grade section close to the bottom of the hole where 0.28% nickel over 91 metres was intersected. At hole DEL 22-09, 393 metres of 0.26% nickel was intersected. The company has now released assays from 5 of the 11 holes.

In November 2021, Canada Nickel announced that it had acquired 13 properties – including Deloro and Reid. By consolidating its district-scale mining potential in the Timmins area, the company created a stronger presence for itself. These projects are located within close proximity of the company’s flagship Crawford nickel sulphide project; all falling within a 95 km radius.

Following a fresh assessment, the Crawford deposit is purported to have the fifth-largest nickel sulphide resource worldwide, weighing 1.4 billion tonnes and containing 0.24 percent nickel in the measured and indicated category and 0.23 percent nickel in the inferred category. The economic assessment of the project, based on former resource estimates, showed a 25-year operation would result in 842,000 tonnes of nickel.

Mark Selby, Canada Nickel Chair and Chief Executive Officer commented in a press release: “We are very pleased with the results from Deloro where we successfully delineated our target mineralization and grades throughout the intended geophysical target.  Deloro now joins Reid as another significant, sizeable nickel discovery and we look forward to continued success as we continue exploration around our regional properties, developing what we believe has the potential to be one of the world’s leading nickel districts. We will provide further updates on drilling and our regional plans in September.”

Highlights from the assays are as follows:

  • Second significant discovery from newly acquired regional properties – Reid and Deloro.
  • Assay results at Deloro confirmed expected grades over entire core length of 487 metres of 0.25% nickel including 91 metres of 0.28% nickel.
  • Mineralization successfully defined over 1.1 kilometres of strike length by 100 – 400 metres wide to a depth of 420 metres.

Hole DEL22-01 collared in dunite on the northern half of the target and was drilled to the southwest. The hole remained largely in dunite for a total length of 487 metres grading 0.25% nickel, with a higher-grade section near the bottom of the hole intersecting 0.28% nickel over 91 metres.

DEL22-09 collared in dunite and the hole intersected 393 metres of 0.26% nickel, including 51 metres of 0.28% nickel. The hole finished in peridotite.

DEL22-06 collared in peridotite and transitioned in composition from dunite to peridotite and intersected a total of 227 metres of mineralization – 74 metres grading 0.20% nickel starting at 54 metres and 141 metres grading 0.21% nickel starting at 140 metres including a 12-metre core length of 0.33% nickel and 0.15 g/t Pt+Pd from 248 to 260 metres. This higher-grade Pt+Pd in dunite has similar characteristics to the high-grade core in Crawford’s East Zone.

DEL22-07 collared in dunite, on section with DEL22-01, 100 metres to the west. DEL22-10 collared in dunite and remained in dunite for the majority of the hole except for minor pyroxenite and mafic dykes. The hole intersected 79 metres of 0.25% nickel 124 metres downhole, and 87 metres of 0.25% nickel at 235 metres, before intersecting intermediate volcanics at the contact.

Source: Canada Nickel Company


The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.


 Daily Gainers

 Lincoln Minerals Limited LML.AX +125.00%
 Golden Cross Resources Ltd. GCR.AX +33.33%
 Casa Minerals Inc. CASA.V +30.00%
 Adavale Resources Limited ADD.AX +22.22%
 Athena Resources Ltd. AHN.AX +22.22%
 Azimut Exploration Inc. AZM.V +21.98%
 New Stratus Energy Inc. NSE.V +21.05%
 Dynasty Gold Corp. DYG.V +18.42%
 Azincourt Energy Corp. AAZ.V +18.18%
 Gladiator Resources Limited GLA.AX +17.65%

Download the latest Solaris Resources (SLSSF) Investor Kit

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

MiningFeeds will use the information you provide on this form to be in touch with you and to provide updates and marketing.