Canada Nickel (TSXV: CNC) this morning released initial mineral resource estimates for two separate properties, while bringing their total count of nickel deposits within the Timmins Nickel District to six.
The two properties that saw initial resources established this morning include the Mann Central and Texmont properties. Canada Nickel wholly owns Texmont, while they have an 80% interest in Mann Central, with the remainder owned by Noble Mineral Exploration.
Highlights from the resource estimates include:
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- Mann Central:
- Indicated resources: 236.7 million tonnes at 0.22% nickel, 0.012% cobalt, 6.6% iron, 0.34% chromium, 0.005 g/t palladium and 0.006 g/t platinum
- Containing 0.52 million tonnes of nickel, 28,200 tonnes cobalt, 15.7 million tonnes iron, 0.78 million tonnes chromium, 35,100 ounces palladium and 47,100 ounces platinum
- Inferred resources: 543.2 million tonnes at 0.21% nickel, 0.012% cobalt, 6.8% iron, 0.30% chromium, 0.006 g/t palladium and 0.007 g/t platinum
- Containing 1.15 million tonnes of nickel, 65,900 tonnes cobalt, 37.0 million tonnes iron, 1.63 million tonnes chromium, 98,000 ounces palladium and 129,800 ounces platinum
- Exploration target: 0.6 to 2.0 billion tonnes grading 0.19% to 0.21% nickel
- Indicated resources: 236.7 million tonnes at 0.22% nickel, 0.012% cobalt, 6.6% iron, 0.34% chromium, 0.005 g/t palladium and 0.006 g/t platinum
- Texmont:
- Measured resources: 3.3 million tonnes at 0.34% nickel, 0.013% cobalt, 0.37% sulphur, 0.018 g/t palladium, and 0.016 g/t platinum
- Containing 11,300 tonnes nickel, 400 tonnes cobalt, 12,200 tonnes sulphur, 1,900 ounces palladium and 1,700 ounces platinum
- Indicated resources: 34.6 million tonnes at 0.28% nickel, 0.011% cobalt, 0.27% sulphur, 0.012 g/t palladium and 0.011 g/t platinum
- Containing 97,700 tonnes nickel, 3,800 tonnes cobalt, 93,300 tonnes sulphur, 13,800 ounces palladium and 12,600 ounces platinum
- Inferred resources: 57.7 million tonnes at 0.25% nickel, 0.01% cobalt, 0.22% sulphur, 0.01 g/t palladium and 0.009 g/t platinum
- Containing 143,900 tonnes nickel, 5,900 tonnes cobalt, 122,300 tonnes sulphur, 17,400 ounces palladium and 17,000 ounces platinum
- Measured resources: 3.3 million tonnes at 0.34% nickel, 0.013% cobalt, 0.37% sulphur, 0.018 g/t palladium, and 0.016 g/t platinum
The Mann Central estimate is said to be based on a total of 12,563 metres of drilling within a total of 32 drill holes, with the estimate representing an estimated 40% of the target geophysical area. The Texmont estimate meanwhile is based upon 44,528 metres of drilling within 144 drill holes.
Across all six of their properties in the Timmins district, Canada Nickel now boasts mineral resources of 3.9 billion tonnes measured and indicated at 0.24% nickel for 9.2 million tonnes of contained nickel, alongside 4.2 billion tonnes inferred at 0.22% nickel, for 9.5 million tonnes of contained nickel.
“Mann Central is a mineral resource with significant scale and considerable potential for further testing in the future. Texmont, though a smaller target, has delivered strong results with meaningful quantities of higher grade nickel. I look forward to advancing Crawford towards a year-end construction decision and to showcasing the full potential of the Timmins Nickel District, with three additional mineral resource estimates to be published by year-end,” commented Mark Selby, CEO of Canada Nickel.
Canada Nickel last traded at $0.86 on the TSX Venture.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
