Canada Nickel Releases Final Drill Results For Texmont, Hitting 1.06% Nickel Over 12 Metres
The final results from a winter drill program conducted by Canada Nickel (TSXV: CNC) were released this morning. The results come from a 39-hole drill program conducted at its Texmont Project.
Highlights from the results include:
- TXT23-24: 0.71% nickel, 0.08 g/t palladium and platinum over 21.0 metres
- TXT23-30: 0.83% nickel, 0.13 g/t palladium and platinum over 19.5 metres
- TXT23-35: 0.72% nickel, 0.09 g/t palladium and platinum over 25.5 metres
- TXT23-36: 1.06% nickel, 0.14 g/t palladium and platinum over 12.0 metres
- TXT23-39: 0.83% nickel, 0.13 g/t palladium and platinum over 15.0 metres
Data was released on a total of eleven holes this morning, with the results said to confirm current interpretations of the Texmont deposit. The deposit is believed to contain a higher-grade core with over 1.0% nickel ranging between two to eight metres thick, which is then surround by 0.6% to 1.0% nickel that is 12 to 25 metres thick. Lower grade mineralization then exists outside this range, with nickel values of 0.25% to 0.6% being present for widths of up to 150 metres.
READ: Canada Nickel Intersects 0.5% Nickel Over 91 Metres At Texmont
“This latest set of assay results reinforce our thesis of near-surface high-grade intervals within thick mineralized sections which support the potential for near-term, smaller scale, open pit production. We look forward to delivering an initial resource and Preliminary Economic Analysis on Texmont this year as its near-term production potential is highly complementary to our large-scale Crawford and regional nickel sulphide project potential,” commented CEO Mark Selby.
An initial resource is expected to be assembled based on 28,900 metres of drilling conducted historically on the project, along with the 9,700 metres of drilling conducted in the 2022-2023 season. A preliminary economic assessment will then follow, which is slated to be released by years end.
Canada Nickel last traded at $1.29 on the TSX Venture.
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