Canada Nickel Intersects 64.5 Metres Of 0.71% Nickel

Drilling under the current phase of exploration at the Crawford Nickel Sulphide project by Canada Nickel Company (TSXV: CNC) has officially been completed. The phase consisted of infill drilling across the property as the company works towards completing a feasibility study later this year.

As part of the announcement, the firm revealed that it has hit its best interval of mineralization to date under the current phase, with the company intersecting 64.5 metres of 0.71% nickel in the East Zone. A total of 33 drill assays were released as part of this mornings announcement.

Highlights from the results include:

  • CR21-119: 439.3 metres of 0.24% nickel, including 213.0 metres of 0.27% nickel
  • CR21-136: 289.5 metres of 0.24% nickel, including 156.0 metres of 0.28% nickel and 36.0 metres of 0.34% nickel
  • CR21-147: 285.9 metres of 0.22% nickel, including 99.0 metres of 0.27% nickel
  • CR21-149: 441.5 metres of 0.26% nickel, including 96.0 metres of 0.31% nickel, and 31.5 metres of 0.37% nickel
  • CR21-153: 584.0 metres of 0.30% nickel, including 174.0 metres of 0.45% nickel, 64.5 metres of 0.71% nickel, and 6.0 metres of 1.04% nickel

“The Crawford drilling program continued to deliver strong results, with this phase yielding the highest-grade interval to date, a 33% increase in strike length of East Zone mineralization to 2.8 kilometres, and further testing of Main Zone at depth to more than one kilometre,” commented Mark Selby, CEO on the results of the current phase of drilling.

The current drill program has seen what was previously two zones within the East Zone merge into a single zone, with the single unit now containing a strike length of 2.8 kilometres. The zone remains open at depth, with drilling conducted as far down as 703 metres, while the thickness of the zone is said to average oer 200 metres.

The Main Zone meanwhile has been extended from the current resource by 850 metres, remaining open along strike and depth. Drilling here as well as at the West Zone primarily focused on resource expansion.

A further 37 holes have assays pending from the program, with a resource estimate update expected to be provided by the midpoint of 2022. That estimate is to then be used for a feasibility study, which is expected by the end of the year.

Canada Nickel Company last traded at $2.93 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.

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