Figure 1 – Plan View of Texmont –Drill results Overlain on TMI (Black rectangle is southern area). Source: Canada Nickel Company Inc.

Canada Nickel Company (TSXV:CNC) has just announced a significant expansion of high-grade nickel mineralization at the Texmont property, located just over 35 kilometres south of Timmins, Ontario. The results, which were obtained through a recent assay, show that the mineralization is near the surface, making it easier to extract.

The company has drilled 39 holes, totaling almost 10,000 metres, as part of an exploration program designed to support the development of a resource. Assay results from 16 additional holes were released, with assays pending from another 11 holes.

All 39 drill holes have intersected mineralized peridotite, with the drill program confirming Canada Nickel’s interpretation of the Texmont deposit, displaying zoning in its mineralization. The high-grade core ranges from 2 to 8 metres thickness and has been identified as the main target of previous mining, while an outer shell of moderate-high mineralization ranges from 0.6-1.0% and can be up to 20 to 30 metres thick. Further outward shells of moderate and lower grades were also identified.

Overburden in the area varied between 2 and 18 metres in downhole length, with an average of 7.5 metres. The mineralization has been drilled over a footprint of 1 kilometre along strike to a maximum depth of 444 metres where it remains open.

The latest results confirm the Texmont deposit’s potential, and Canada Nickel will continue with its exploration program, which aims to identify additional high-grade nickel mineralization.

Mark Selby, CEO of Canada Nickel Company, commented in a press release: “The latest assay results continue to confirm our thesis of near-surface high grade intervals within thick mineralized sections which support the potential for near-term, smaller scale, open pit production.  Of particular note, we are excited by the near-surface higher grade interval in hole TEX23-32 in the northern lens which is nearly half a kilometre from the southern high-grade lens. We have now planned additional drilling at the northern lens. We are looking forward to delivering an initial resource and Preliminary Economic Analysis (“PEA”) on Texmont this year as its near-term production potential is highly complementary to our large-scale Crawford and regional nickel sulphide project potential.”

Figure 2 – Texmont Property – Southern Area. Source: Canada Nickel Company Inc.

Highlights from the results are as follows:

  • Assay results from 16 drillholes continue to confirm high-grade near-surface mineralization
  • Nine drillholes with intersections of higher-grade (above 1% nickel) mineralization
  • Hole TEX23-26 intersected 3 metres of 1.47% nickel within 13.5 metres of 0.82% nickel within 52.5 metres of 0.5% nickel
  • Hole TEX23-19 intersected 7 metres of 1.03% nickel within 40.0 metres of 0.69% nickel
  • High grade mineralization intersected in northern lens 470 metres from original high grade lens in the south area
  • Hole TXT23-32 intersected 10.5 metres of 0.95% nickel within 43.5 metres of 0.59% nickel within 292 metres of 0.31% nickel

Table 1: Texmont exploration drilling results – high grade highlights

Hole ID

From

To

Length*

Ni

Co

Pd

Pt

Cr

Fe

S

(m)

(m)

(m)

( %)

( %)

(g/t)

(g/t)

( %)

( %)

( %)

TXT22-13

153.0

174.0

21.0

0.52

0.02

0.036

0.030

0.15

5.68

0.63

and

183.0

192.0

9.0

0.49

0.02

0.027

0.023

0.12

5.42

0.58

Including

184

185.5

1.5

1.02

0.035

0.053

0.044

0.13

6.01

1.27

TXT23-15

85.5

104.5

19.0

0.57

0.02

0.034

0.024

0.16

6.00

0.66

including

85.5

93.5

8.0

0.88

0.03

0.061

0.041

0.17

6.55

1.00

Including

91.5

93.5

2

1.24

0.05

0.068

0.049

0.15

6.50

1.70

TXT23-16

202.5

223.5

21.0

0.48

0.02

0.035

0.023

0.13

5.57

0.59

Including

217.5

223.5

6.0

0.72

0.02

0.060

0.040

0.14

5.65

1.09

Including

219

221

2

1.03

1.03

0.03

0.094

0.060

0.13

5.82

TXT23-19

63

184

121

0.52

0.02

0.038

0.029

0.15

5.56

0.48

TXT23-19

63.0

98.7

35.7

0.70

0.02

0.060

0.045

0.14

5.27

0.70

and

144.0

184.0

40.0

0.69

0.02

0.054

0.042

0.16

5.99

0.55

Including

145.0

148.3

3.3

1.24

0.02

0.124

0.087

0.15

5.12

1.06

and

156.5

160.0

3.5

1.20

0.03

0.100

0.071

0.15

5.75

0.94

including

170.0

177.0

7.0

1.03

0.03

0.083

0.069

0.16

6.73

0.81

TXT23-21

64.5

70.5

6.0

0.90

0.02

0.082

0.072

0.15

5.65

0.42

including

64.5

69.0

4.05

1.06

0.02

0.102

0.089

0.15

5.79

0.50

TXT23-22

153.0

193.5

40.5

0.34

0.01

0.017

0.015

0.17

5.83

0.50

TXT23-25

154.5

222.0

67.5

0.58

0.02

0.043

0.034

0.16

6.44

0.83

including

156.0

164.0

8.0

0.85

0.03

0.074

0.054

0.15

7.43

1.27

including

157.5

159.0

1.5

1.02

0.031

0.092

0.064

0.14

8.03

1.8

TXT23-26

112.5

165

52.5

0.50

0.01

0.047

0.044

0.14

5.48

0.53

Including

151.5

165.0

13.5

0.82

0.02

0.125

0.079

0.15

5.53

0.94

Including

151.5

156.0

4.5

1.13

0.02

0.159

0.102

0.15

6.04

1.29

TXT23-27

74.8

78.0

3.2

0.51

0.02

0.048

0.036

0.14

5.11

0.49

TXT23-28

103.5

130.5

27.0

0.52

0.02

0.033

0.042

0.14

5.47

0.62

Including

123.0

124.5

1.5

1.29

0.038

0.147

0.046

0.13

7.02

2.01

Including

129.0

130.5

1.5

1.43

0.045

0.156

0.519

0.14

6.37

1.91

and

225.0

261.0

36.0

0.42

0.01

0.039

0.032

0.15

5.59

0.46

including

258.0

261

3

1.15

0.04

0.235

0.177

0.13

5.63

1.62

TXT23-32

63.0

106.5

43.5

0.59

0.02

0.038

0.029

0.15

5.34

0.52

including

63.0

73.5

10.5

0.95

0.02

0.071

0.047

0.14

5.08

0.79

including

63

66

3

1.22

0.01

0.130

0.077

0.14

4.90

1.00

*Specified drillhole length, note that true widths are uncertain.  Initial interpretation by the Company is that the nickel mineralization is hosted in steeply dipping zones, implying true widths in the range of 70% to 95% of reported intervals

Table 2: Texmont exploration drilling results – downhole average

Hole ID

From

To

Length*

Ni

Co

Pd

Pt

Cr

Fe

S

(m)

(m)

(m)

( %)

( %)

(g/t)

(g/t)

( %)

( %)

( %)

TXT22-13

5.0

387.0

382.0

0.21

0.01

0.008

0.009

0.17

6.33

0.33

including

111.0

297.2

186.2

0.29

0.01

0.010

0.010

0.14

5.23

0.30

and

317.8

387.0

69.2

0.21

0.01

0.008

0.009

0.27

6.17

0.28

TXT23-14

47.0

129.9

82.9

0.20

0.01

0.006

0.006

0.18

5.48

0.21

TXT23-15

47.5

169.8

122.3

0.27

0.01

0.010

0.011

0.19

6.08

0.35

TXT23-16

114.5

444

329.5

0.25

0.01

0.009

0.007

0.16

5.45

0.23

including

192.0

285.0

93.0

0.30

0.01

0.016

0.011

0.15

5.37

0.28

TXT23-17

81.0

109.1

28.1

0.21

0.01

0.004

0.006

0.17

5.39

0.18

TXT23-18

40.5

109.7

69.2

0.21

0.01

0.008

0.007

0.15

4.90

0.15

and

123.0

158.0

35.0

0.19

0.01

0.007

0.006

0.18

6.09

0.56

TXT23-19

10.0

193.7

183.7

0.43

0.01

0.027

0.022

0.14

5.45

0.44

TXT23-20

84.0

243.0

159.0

0.23

0.01

0.008

0.008

0.12

5.45

0.34

TXT23-21

51.3

135.7

84.4

0.28

0.01

0.014

0.014

0.14

5.39

0.19

and

148.1

163.5

15.4

0.26

0.01

0.016

0.015

0.12

4.59

0.25

TXT23-22

12.0

260.8

248.8

0.26

0.01

0.011

0.009

0.16

5.44

0.24

TXT23-23

37.6

219.5

181.9

0.24

0.01

0.009

0.008

0.14

5.38

0.10

including

82.5

120.0

37.5

0.30

0.01

0.012

0.009

0.15

5.03

0.12

TXT23-25

3.0

311.8

308.8

0.24

0.01

0.013

0.013

0.13

6.19

0.35

including

125.0

240.0

115.0

0.44

0.01

0.029

0.024

0.15

5.84

0.58

TXT23-26

5.0

240.0

235.0

0.29

0.01

0.015

0.016

0.15

5.42

0.31

including

52.5

165.0

102.5

0.37

0.01

0.026

0.026

0.15

5.54

0.42

TXT23-27

4.0

124.6

120.6

0.21

0.01

0.007

0.010

0.12

5.70

0.29

and

191.2

231.0

39.8

0.20

0.01

0.007

0.014

0.19

5.88

0.14

TXT23-28

14.4

174.1

159.7

0.30

0.01

0.009

0.014

0.13

4.95

0.31

and

222.6

291.0

68.4

0.33

0.01

0.022

0.021

0.15

5.52

0.32

TXT23-32

8.2

300.0

291.8

0.31

0.01

0.016

0.015

0.15

5.11

0.27

*Specified drillhole length, note that true widths are uncertain.  Initial interpretation by the Company is that the nickel mineralization is hosted in steeply dipping zones, implying true widths in the range of 70% to 95% of reported intervals

able 3: Texmont Drillhole Orientation

Hole ID

Easting (mE)

Northing (mN)

 Azimuth (⁰)

Dip (⁰)

Length (m)

TXT23-13

484830

5334318

270

-82

387

TXT23-14

484790

5334263

270

-45

162

TXT23-15

484790

5334263

270

-65

180

TXT23-16

484790

5334263

270

-90

444

TXT23-17

484789

5334319

270

-45

171

TXT23-18

484799

5334365

270

-45

201

TXT23-19

484790

5334568

90

-48

201

TXT23-20

484790

5334568

90

-86

243

TXT23-21

484925

5334636

270

-57

234

TXT23-22

484893

5334663

270

-70

264

TXT23-23

484905

5334714

270

-52

246

TXT23-25

484720

5334400

90

-58

351

TXT23-26

484768

5334491

90

-55

240

TXT23-27

484755

5334450

90

-55

231

TXT23-28

484798

5334471

90

-70

291

TXT23-32

484915

5335188

265

-65

300

TXT23-13 was collared in komatiite, and intersected a thick sequence of mineralized peridotite, with minor dykes encountered near surface. The hole averaged 0.21% nickel over 382.0 metres, including a higher-grade section of 0.52% nickel over 21.0 metres (see Table 1 for higher grade composites, and Table 2 for entire mineralized composites).

TXT23-14 was collared 70 metres southwest of TXT23-13 and intersected weakly mineralized komatiite 4.7 metres below surface, intersecting mineralized peridotite for a length of 82.9 metres until encountering volcanics at the lower contact. The peridotite section averaged 0.20% nickel.

TXTX23-15 was collared in the same setup as TXT23-14 drilling steeper, intersected komatiite followed by well mineralized peridotite for 122.3 metres. The hole averaged 0.27% nickel, including 0.88% nickel and 0.10g/t Pt+Pd over 8.0 metres.

TXT23-16 was collared on komatiite at 3 metres followed by well mineralized peridotite to end of hole. The mineralized peridotite averaged 0.25% nickel over 329.5 metres, including 0.48% nickel over 21.0 metres.

TXT23-17 was collared in hanging wall mafic intrusive and followed a succession of komatiite and mafic volcanics before intersecting mineralized peridotite at 81 metres. The hole intersected 28.1 metres of peridotite averaging 0.21% nickel.

TXT23-18 was drilled 55 metres northwest of TXT23-13 in komatiite and intersected mineralized peridotite, interrupted by a section of metasediments. The top peridotite averaged 0.21% nickel over 69.2 metres, while the bottom peridotite averaged 0.19% nickel over 35.0 metres.

TEX23-19 was collared 55 metres northwest of the shaft, intersecting well mineralized peridotite at 10 metres below surface, interrupted by minor diabase dykes. The hole averaged 0.43% nickel over 183.7 metres including 0.69% nickel over 40.0 metres and 1.03% nickel over 7.0 metres.

TXT23-20 was collared and ended in mineralized peridotite. The bottom of the hole averaged 0.23% nickel over 159.0 metres including 0.31% nickel over 100.2 metres. Top of hole assays are still pending.

TXT23-21 was collared in komatiite with minor dykes, followed by mineralized peridotite. The top peridotite averaged 0.28% nickel over 84.4 metres, including 0.90% nickel over 6.0 metres and 0.35% nickel over 49.3 metres. The bottom peridotite averaged 0.26% nickel over 15.4 metres.

TXT23-22 was collared in mineralized peridotite at 12 metres below surface. The hole averaged 0.26% nickel over 248.8 metres including 0.34% nickel over 40.5 metres.

TXT23-23 was collared approximately 220 metres northeast of the shaft. The hole intersected 0.24% nickel over 181.9 metres, including 0.30% nickel over 37.5 metres.

TXT23-24 was collared at the hanging wall mafic volcanics and intersected well mineralized peridotite starting at 13.8 metres. The hole has 0.71% nickel over 21.0 metres. Top and bottom of hole assays are still pending.

TXT23-25 was collared on komatiite at 3 metres followed by diabase and a well mineralized peridotite to end of hole. The hole averaged 0.24% nickel over 308.8 metres, including a section of well mineralized peridotite averaging 0.58% nickel over 64.8 metres, including 0.85% nickel over 8.0 metres.

TXT23-26 was collared in mineralized peridotite at 5.0 metres below surface. The hole averaged 0.29% nickel over 235.0 metres including 0.50% nickel over 52.5 metres.

TXT23-27 collared on peridotite at 4 metres below surface and ended in peridotite except for a gabbro section near the bottom of the hole. The top peridotite averaged 0.21% nickel over 120.6 metres, while the bottom peridotite averaged 0.20% nickel over 39.8 metres.

TXT23-28 collared in mafic volcanics at 5.5 metres, followed by well mineralized peridotite starting at 14.4 metres. This section of the peridotite averaged 0.30% nickel over 159.7 metres and included a section of 0.52% nickel over 27.0 metres. The hole is interrupted by a section of a later intrusion but continues on well mineralized peridotite averaging 0.33% nickel over 68.4 metres and includes 0.42% nickel over 36.0 metres.

TXT23-32 is collared in the north zone approximately 650 metres from the shaft. The hole starts on komatiite and remains in mineralized peridotite to the end of the hole. The hole averaged 0.31% nickel over 291.8 metres and includes 0.59% nickel over 43.5 metres with 10.5 metres of 0.95% nickel.

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.

Canada Nickel Company (TSXV:CNC) has announced new drill results from the ongoing regional drill campaign at the Reid and Sothman properties. The company received assay results that confirm the previous discovery made at Reid, with a higher-grade interval of 0.29% nickel, including 81 metres of 0.35% nickel. Canada Nickel has also made a new discovery at the Sothman property, with all five holes confirming mineralization. 

Figure 1 – Plan View of Reid – Drill results Overlain on Total Magnetic Intensity Source: Canada Nickel Company Inc.

Canada Nickel is currently advancing several nickel-sulphide projects to deliver the nickel required for EV and steel markets. These high-growth markets continue to be a main point of focus for the industry, as rising demand is set to outstrip supply in the coming years and new discoveries become critical for the mining industry.

Mark Selby, Chair & CEO of Canada Nickel, commented in a press release: “We continue to have excellent success with our regional exploration program.  The latest results provide further confirmation of the potential at Reid with a large higher-grade interval in hole REI22-07 and multiple holes well-mineralized across their entire core lengths. Our targeting approach was further confirmed with another bulk tonnage discovery at Sothman with all five holes intersecting mineralization. These latest results continue to reinforce the success of our geophysical targeting approach and increase the probability of success at our other 20-plus properties within the 42 km2 of geophysical targets.  We look forward to drilling our high-grade target at Sothman where historical drilling achieved multiple intervals greater than 1% nickel.”

Highlights from the drill results are as follows: 

  • Additional assay results confirm scale of discovery at Reid
  • Higher grade interval at Reid – REI22-07 325 metres of 0.29% nickel including 81 metres of 0.35% nickel
  • New discovery at Sothman

Reid Nickel Property

Figure 2 – Plan View of Sothman – Drill results Overlain on Total Magnetic Intensity. Source: Canada Nickel Company Inc.

The Reid Property is located just 16 km southwest of Crawford, or 37 km northwest of Timmins, and contains an ultramafic body with a target geophysical footprint of 3.9 km2 (see Figure 1). Preliminary assay results from our summer/fall drilling program confirms the presence of mineralized dunite, as well as currently undefined higher-grade sections. Partial assay results confirm expected nickel grades (Table 1). Nickel mineralization in serpentinized dunite was found in all 16 holes drilled to date.

This release provides an update with assays from five more holes to a total of eight holes with complete assays. True widths are unknown at this point. Hole REI22-07 collared near the center of the anomaly in dunite containing a series of late dykes and remained in a strongly serpentinized, moderate to strongly mineralized dunite to the end of the hole. The hole averaged 0.29% nickel over 325.5 metres, including a wide higher-grade section with 0.35% nickel over 81.5 metres. The hole then continued through mineralized dunite that averaged 0.27% nickel over the last 132 metres of the hole. 

REI22-03 collared in dunite on the east flank of the anomaly and was drilled to the west. The hole intersected 358.4 metres of dunite and finished in dunite, interrupted by a late dyke in the center. The hole shows moderate to strong serpentinization and visible pentlandite-heazlewoodite mineralization averaging 0.24% nickel over 223.1 metres.

REI22-04 collared in peridotite on the east flank of the anomaly 500 metres north of REI22-03, drilling to the northeast. The hole intersected peridotite, followed by dunite only interrupted by minor dykes. The hole averaged 0.19% nickel over 269.8 metres and 0.21% nickel over 79 metres.

REI22-05 collared in dunite and remained in dunite to the end of hole, only interrupted by a small late dyke. The hole was collared near the center of the anomaly and drilled to the west. The hole was strongly serpentinized throughout and averaged 0.24% nickel over 409.5 metres including 0.26% nickel over 55.5 metres.

REI22-08 collared in dunite on the same setup as REI22-03 but drilling to the northwest. The hole remained in dunite to the end of the hole, encountering minor peridotite sections. The hole averaged 0.24% nickel over 372.8 metres, including 0.26% nickel over 63 metres.

Results from the remaining eight holes are still pending, but with the encouraging results as provided in this release, Canada Nickel plans to resume drilling in 2023. The south limb of the anomaly remains to be drilled.

Table 1: Reid exploration drilling results

Hole ID From To Length Ni Co Pd Pt Cr Fe S
  (m) (m) (m) ( %) ( %) (g/t) (g/t) ( %) ( %) ( %)
REI22-03 58.6 354.0 295.4 0.24 0.01 0.003 0.003 0.80 5.51 0.04
including 140.8 259.5 118.7 0.25 0.01 0.003 0.003 0.84 5.34 0.04
REI22-04 48.5 318.3 269.8 0.19 0.01 0.005 0.007 0.61 6.31 0.08
and 338.0 417.0 79.0 0.21 0.01 0.010 0.007 0.57 6.30 0.11
REI22-05 52.5 462.0 409.5 0.24 0.01 0.004 0.005 0.76 5.63 0.06
including 380.5 436.0 55.5 0.26 0.01 0.007 0.005 0.82 4.90 0.09
REI22-07 136.5 462.0 325.5 0.29 0.01 0.028 0.010 0.75 5.38 0.08
including 147.0 228.5 81.5 0.35 0.01 0.050 0.015 0.74 5.40 0.10
REI22-08 57.2 430.0 372.8 0.24 0.01 0.004 0.006 0.85 6.11 0.08
including 229.0 292.0 63.0 0.26 0.01 0.003 0.005 0.94 5.59 0.07

Sothman Nickel Property

The Sothman property is located 70 km south of Timmins and contains an ultramafic target that measures 2.2 km east-west by 200 metres north-south (Figure 2).

Five drillholes were drilled on the eastern half of the target anomaly (SOT22-01 to SOT22-05). These holes succeeded in confirming the continuation of ultramafic lithologies, primarily peridotite, with moderate to strong serpentinization and variable amounts of mineralization throughout (see Table 2). Assays from all holes are pending.

Table 2: Sothman Selected lithology intervals

Hole # From To length Rock Type
SOT22-01 39.7 77.0 37.3 Pyroxenite
77.0 234.7 157.7 Dunite
SOT22-02 48.3 77.0 33.3 Dunite
77.0 149.0 72.0 Peridotite
149.0 201.5 52.5 Dunite
201.5 266.0 64.5 Peridotite
SOT22-03 39.5 143.0 103.5 Dunite
  143.0 184.9 41.9 Peridotite
SOT22-03 39.5 143.0 103.5 Dunite
143.0 184.9 41.9 Peridotite
SOT22-04 40.0 90.0 50.0 Peridotite
117.0 125.0 8.0 Peridotite
SOT22-05 38.0 245.0 207.0 Peridotite
245.0 315.5 70.5 Dunite
315.5 353.0 37.5 Peridotite

 

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.
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.

Canada Nickel Company (TSXV:CNC) has reported new assay results from its Reid property. The company has completed two drill holes as part of its regional exploration program. Hole REI21-02 intersected 354 metres of 0.24% nickel and includes 15 of 0.39% nickel and 6 metres of 0.57% nickel. These holes hold the same heazlewoodite-pentlandite-awaruite minerals as the Crawford property according to the mineralogy completed on those samples.

Mark Selby, Chair and Chief Executive Officer of Canada Nickel Company commented in a press release: “We are very pleased with our drilling on the Reid target. The assay results from the second hole achieved expected grades over 354 metres and contains a core of higher grade mineralization of 15 metres of 0.39% nickel, and the first hole intersected a PGM zone similar to that at Crawford. We are continuing to drill Reid as we highlight the resource potential of this target with a larger geophysical footprint than our original Crawford discovery. Additionally, we are looking forward to the release of our updated resource estimate for Crawford expected to be released by July 6, 2022.”

Highlights from the drilling are as follows:

  • Assays achieved expected grades over entire core length of 354 metres: 0.24% nickel including 15 metres of 0.39% nickel and 6 metres of 0.57% nickel
  • Confirmed same mineralogy as Company’s flagship Crawford Project
  • Reid property has larger geophysical footprint than Crawford
  • Crawford resource update expected to be released by July 6, 2022

Reid Nickel Property

Source: Canada Nickel Company

The Reid Property is located just 16 kilometres southwest of Crawford and contains an ultramafic target that measures 3.3 kilometres north-south by 2.1 kilometres east-west based on the total magnetic intensity (“TMI”) (see Figure 1).  Hole REI-22-02 collared on dunite in the SE corner of the target, and was drilled to the NW. It remained in dunite for a total length of 354 metres grading 0.24% nickel, with a higher-grade section near the bottom of the hole intersecting 0.39% nickel over 15 metres (see table 1A). The hole ended in mineralized dunite, and the contact is open to the north.

REI22-01 collared on dunite in the same setup, drilling towards the south contact where the magnetic anomaly is at its highest. The hole transitioned from dunite to a sequence of peridotite-pyroxenite-gabbro similar to that seen at Crawford. The pyroxenite in the sequence yielded 1.6g/t Pt+Pd over 4.5 metres (see Table 1B) similar in grade and thickness to PGM zone at Crawford.

Mineralogy completed on samples from these holes confirmed that they contain the same heazlewoodite-pentlandite-awaruite minerals as Crawford.

As of June, drilling at Reid resumed with a helicopter supported program that will test the extent of the anomaly.

Table 1A: Reid Exploration Drilling Results, Ontario.

Hole ID

From

To

Length

Ni

Co

Pd

Pt

Cr

Fe

S

(m)

(m)

(m)

( %)

( %)

(g/t)

(g/t)

( %)

( %)

( %)

REI22-01

51.0

153.4

102.4

0.17

0.01

0.00

0.01

0.44

7.29

0.02

REI22-02

42.0

396.0

354.0

0.24

0.01

0.00

0.01

0.53

5.97

0.02

                  including

227.5

394.0

166.5

0.27

0.01

0.01

0.01

0.61

5.66

0.03

                  including

227.5

242.5

15.0

0.39

0.01

0.05

0.03

0.43

6.28

0.07

                  including

236.5

242.5

6.0

0.57

0.02

0.05

0.03

0.52

6.41

0.12

Table 1B: Reid Exploration Drilling Results, Ontario – PGMs

Hole ID

From

To

Length

PGM

Pd

Pt

Ni

Co

Cr

Fe

S

(m)

(m)

(m)

(g/t)

(g/t)

(g/t)

( %)

( %)

( %)

( %)

( %)

REI22-01

264.5

270.5

6.0

1.35

0.75

0.61

0.03

0.01

0.29

5.89

0.01

                  including

266.0

270.5

4.5

1.67

0.93

0.75

0.02

0.01

0.29

5.55

0.01

                  including

267.5

269.0

1.5

2.02

1.15

0.87

0.02

0.01

0.26

5.36

0.01

Table 2: Drill Hole Orientation.

Hole ID

Easting

Northing

Azimuth

Dip

Length

(mE)

(mN)

(⁰)

(⁰)

(m)

REI22-01

457,859

5,403,898

175

-50

329.0

REI22-02

457,859

5,403,898

316

-50

354.0

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.

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