Canada Nickel Intersects 0.29% Nickel Over 325.5 Metres At Reid Property

Assay results from recent drilling conducted by Canada Nickel (TSXV: CNC) were released this morning. The results come from the firms Reid and Southman properties, which fall under a regional exploration drill program.

At the Reid property, which is 16 kilometres southwest of the flagship Crawford Project, the company released a total of five drill hole assays. Highlights from the results include:

  • REI22-05: 0.24% nickel, 5.63% iron over 409.5 metres
  • REI22-07: 0.29% nickel, 5.38% iron over 325.5 metres
  • REI22-08: 0.24% nickel, 6.11% iron over 372.8 metres

The Reid property’s main target is currently viewed as being an ultramafic body, with a geophysical footprint of 3.9 square kilometres. Results from eight holes remain pending, however the firm has indicated it intends to resume drill testing the property in 2023 based on the partial results received to date.

At the Southman property, the company has completed five holes on the eastern half of an ultramafic target. The holes are said to have intersected peridotite and dunite, with assay results from all holes still pending. The target itself is believed to measure 2.2 kilometres by 200 metres in size. Canada Nickel is classifying the early results as a “bulk tonnage discovery” due to all five holes intersecting mineralization.

“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,” commented CEO Mark Selby on the results.

Canada Nickel last traded at $1.43 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.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Canada Nickel Reports Success In Carbon Storage Pilot Project, Expects $25 Per Tonne Of Co2 Stored

Canada Nickel Company (TSXV: CNC) is reporting that it has had a successful run of...

Thursday, September 28, 2023, 09:06:06 AM

Canada Nickel Publishes Maiden Resource At Reid Nickel Sulphide Project

Canada Nickel Company (TSXV: CNC) has released an initial resource estimate for its Reid Nickel...

Monday, December 23, 2024, 08:16:51 AM

Canada Nickel Confirms Reid As A Major Discovery, Hits 0.25% Nickel Over 471 Metres

Canada Nickel (TSXV: CNC) is indicating this morning that it has confirmed a “major discovery”...

Wednesday, January 18, 2023, 08:51:41 AM

Spruce Ridge Announces Hefty Stock Dividend of Canada Nickel Shares to Shareholders

As we previously discussed, Spruce Ridge Resources (TSXV: SHL) has a Record Date on July...

Sunday, June 28, 2020, 06:07:19 PM

Canada Nickel Announces $20 Million Financing, Providing Anglo American With An Immediate $2.2 Million Paper Loss

Just hours after Canada Nickel (TSXV: CNC) announced that Anglo American would be taking a...

Wednesday, February 8, 2023, 05:36:49 PM