Canada Nickel (TSXV: CNC) has established an initial resource estimate for its Deloro Nickel Sulphide project in Ontario. The estimate is said to be the first of seven new nickel resources that are to be published before the end of Q1 2025, as the company continues to explore its regional projects in the Timmins Nickel District.
The initial resource consists of an indicated resource estimate of 202,000 tonnes of contained nickel at a grade of 0.25%, as well as an inferred resource estimate of 885,000 tonnes of contained nickel at a grade of 0.25%.
The resource estimate is based on 8,242 metres of drilling across a total of 22 drill holes which was conducted from 2022 through to 2024.
“We are very pleased with the size of this initial resource on Deloro particularly given the relatively small scale of the target footprint relative to the 20+ targets in our portfolio. Deloro has an advantageous location near both Timmins and the mining and processing infrastructure at the Dome Mill, and benefits from a relatively low overburden of an average of just 9 metres,” commented Canada Nickel CEO Mark Selby.
READ: Canada Nickel, Noble To Consolidate Nickel Assets
The next resource estimate scheduled to be released by Canada Nickel is an estimate for the Crawford PGM Zone, followed by Texmont. Exploration in 2024 so far is said to have amounted to 112 holes drilled across an aggregate 47,482 metres, which has enabled the scheduled resource estimates to be assembled.
Canada Nickel last traded at $1.14 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.
