Canada Nickel Company (TSXV: CNC) continues to work on the development of its regional properties, with the company this morning releasing initial resource estimates at two of its projects.
At Midlothian, Canada Nickel has reported that the project contains 595 million tonnes of inferred resources at 0.28% nickel, representing 1.68 million tonnes of contained nickel. That estimate is based on 9,268 metres of drilling across a total of 22 drill holes, which were conducted over the last three years.
The resource estimate is said to cover an area measuring 2.5 kilometres long, 520 metres wide, and 500 metres deep, which remains open at depth and to the east. An exploration target of 434 to 980 million tonnes grading between 0.25% and 0.27% nickel also exists at the property.
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The Bannockburn property meanwhile has established an initial resource consisting of 63 million inferred tonnes grading 0.18% nickel, for a total of 0.18 million tonnes of contained metal. Inferred resources here meanwhile total 129 million tonnes grading 0.27% nickel, which amounts to 0.34 million tonnes of contained metal.
The Bannockburn resource estimate is based on 8,528 metres of drilling in aggregate across 25 holes, with the footprint of that resource measuring 1.2 kilometres long by 330 metres wide and 500 metres deep, with the deposit remaining open in all directions.
“We continue to demonstrate the world class potential of the Timmins Nickel District and have now published eight of nine resources, with over 3.9 billion tonnes at 0.24% nickel for 9.4 million tonnes of Measured and Indicated nickel, and 4.9 billion tonnes at 0.23% nickel for 11.5 million tonnes of Inferred nickel. We were very pleased with both the Bannockburn and Midlothian resources – particularly as the Midlothian resource was generated from just 45% of the target geophysical footprint and yielded the highest average grade resource to date from our projects in the Timmins Nickel District,” commented Mark Selby, CEO of Canada Nickel.
A resource estimate for Canada Nickel’s ninth property, Nesbitt, is expected to be released in Q1 2026.
Canada Nickel last traded at $1.16 on the TSX Venture.
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