Canada Nickel Claims New Nickel Discovery Based On Preliminary Results

Canada Nickel (TSXV: CNC) is declaring that it has made a new discovery at its Midlothian Property in Ontario, despite only having preliminary results from the first four holes drilled on the property. The discovery is said to have a larger footprint than the firms flagship Crawford project.

A total of four holes have been drilled at Midlothian, across 1,548 metres in aggregate. The company is currently focused on drill testing a geophysical target that measures 2.7 kilometres long and is up to 800 metres thick, with the potential deposit said to be open at depth.

The first four holes were drilled along two kilometres of strike, with multi-hundred metres of mineralized dunite said to have been intersected. Mineralization is said to be near surface, with less than five metres of overburden encountered.

Preliminary data from the four holes includes:

  • MID23-01: 343 metres of highly serpentinized dunite from 2.0 metres depth
  • MID23-02: 393 metres of serpentinized dunite from 7.7 metres. Awaruite content of 0.35% to 0.49% has been reported, along with brucite content of 8.7% to 10.9%.
  • MID23-03: 391 metres of serpentinized dunite from 5.0 metres
  • MID23-04: 321 metres of serpentinized dunite from 80.0 metres

Notably, historic drilling conducted on the property over the last five decades saw seven drill holes intersect nickel mineralization. Of those, the best hole, LM08-01, reportedly intersected 0.24% nickel over 345 metres. Nickel sampling was said to not have been continuous in most drillholes however.

READ: Canada Nickel Recovers 63% Of Nickel In Testing At Reid Property

“This is the latest in a string of regional exploration successes – Reid, Deloro, Sothman, Texmont, and now Midlothian – as we unlock the potential of the Timmins Nickel District. Midlothian is one of our ten targets with a geophysical footprint larger than Crawford. While we are waiting for assays, we are very excited by the preliminary mineralogy results,” commented CEO Mark Selby.

Canada Nickel last traded at $1.60 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Share
Tweet
Share