Canada Nickel Intersects 0.5% Nickel Over 91 Metres At Texmont

The first results are in for Canada Nickel’s (TSXV: CNC) drilling at its Texmont property, found 36 kilometres to the south of Timmins, Ontario. The results are said to confirm high grade nickel mineralization at the property.

A total of twelve drill holes saw results released last night after the closing bell, nine of which are said to have had intervals of greater than 1% nickel. Drilling confirmed nickel mineralization exists over 400 metres of strike, with mineralization remaining open at depth and to the north.

Highlights from the results include:

  • TEX22-02: 0.55% nickel over 45.7 metres, including 1.08% nickel over 6.0 metres
  • TEX22-03: 0.50% nickel over 91.5 metres, including 1.22% nickel over 21.0 metres, including 2.60% nickel over 5.2 metres
  • TEX22-04: 0.56% nickel over 34.2 metres, including 0.99% nickel over 4.4 metres
  • TEX22-06: 0.77% nickel over 28.5 metres, including 1.45% nickel over 12.0 metres
  • TEX22-11: 0.57% nickel over 46.5 metres, including 1.06% nickel over 15.0 metres

The results released last night total 3,204 metres of drilling. In total, the program consisted of 39 drill holes, 34 of which were focused on targeting known mineralization, while the remainder targeted a northern extension that may exist. Data from this program is set to be combined with the data from just under 29,000 metres of drilling conducted in the mid-2000’s by Fletcher Nickel to establish an initial mineral resource estimate.

That estimate is slated to be released later this year.

READ: Canada Nickel Sees Anglo American Take 9.9% Stake As Part Of Offtake Deal

“We are excited by the results of our initial phase of drilling and assay results at Texmont which confirm our thesis of near-surface, high grade intervals of nickel that is present within thick mineralized sections, which support the potential for near-term, smaller scale, open pit production,” commented Canada Nickel CEO Mark Selby.

Canada Nickel last traded at $1.68 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Canada Nickel To Raise $25.0 Million Via Combination Of Shares And Flow Through

After getting investors excited by conducting a post-closing bell trading halt, it appears that Canada...

Wednesday, March 9, 2022, 07:54:12 AM

Canada Nickel Suggests Its Flagship Mine Could Produce 710,000 Tonnes Of CO2 Carbon Credits Annually

Canada Nickel (TSXV: CNC) believes it has found a way to produce carbon-free nickel, cobalt...

Wednesday, July 20, 2022, 09:07:03 AM

Canada Nickel Acquires Four More Properties In Timmins District, Provides No Details

Canada Nickel Corp (TSXV: CNC) is apparently buying up more property in the Timmins district,...

Tuesday, February 15, 2022, 08:09:45 AM

Canada Nickel Consolidates Crawford Nickel Property

Canada Nickel Company (TSXV: CNC) this morning announced the consolidation of several of its properties...

Thursday, April 22, 2021, 07:32:53 AM

Canada Nickel Plans To Open Nickel Processing, Stainless Steel Production Facilities

Canada Nickel (TSXV: CNC) is aiming to get into the manufacturing business, announcing this morning...

Thursday, February 8, 2024, 08:32:56 AM