Canada Nickel (TSXV: CNC) continues to progress on the development of its Texmont Nickel Sulphide property in the Timmins region of Ontario. Initial metallurgy results have been published by the firm this morning, which is said to demonstrate simple processes can be used to extra minerals from the property.
Metallurgical work focused on the extraction of both nickel and cobalt from the property, with nickel recoveries said to be in the range of 77% to 84%, while cobalt recoveries had a range of 77% to 83%. Final concentrate grades consisting of 18% to 23% nickel with up to 0.7% cobalt were produced during the testwork.
“Texmont continues to deliver excellent results, with initial metallurgy yielding nickel and cobalt recoveries and concentrate grades exceeding our expectations. Further, these results were achieved with a simple flowsheet which will maximize potential opportunities to toll mill our initial production,” commented CEO Mark Selby.
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As a comparison, in early 20222 the company reported that recoveries from its flagship Crawford property hit 63% for nickel within locked cycle testing after heavily focusing on flowsheet improvements. The final concentrate consisted of 46% nickel, 0.11% cobalt and 7.3% iron.
READ: Canada Nickel Releases Final Drill Results For Texmont, Hitting 1.06% Nickel Over 12 Metres
Testing at Texmont was based on three samples with head grades ranging from 0.67% to 1.52% nickel, which represents the moderate to high grade mineralization found at the deposit. The mineralization is said to hold “excellent upgrade potential,” while the company indicated repeatedly the potential for “a near term open operation.”
Metallurgical work is expected to continue via locked cycle and metallurgical variability testing, which will be used within a preliminary economic assessment slated to be released before the end of 2023 for the Texmont property.
Expanded property
Following the success of the study, the company elected to acquire additional claims to expand Texmont, paying $300,550 in cash and issuing 515,400 shares for an additional 403 mining claims along trend.
“Given our success at Texmont, we capitalized on the opportunity to acquire regional mining claims, consolidating 20 kilometres of property with the potential to find more Texmont-style deposits. We have signed a total of 10 agreements which consolidate 9,520 hectares of mining claims. We view this as an important and highly prospective addition to our Timmins Nickel District,” continued Selby.
Canada Nickel last traded at $1.28 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.
