NiCan Limited (TSXV: NICN) has released additional assay results from a small drill program completed at its Wine Property in Manitoba earlier this year. The program, consisting of a total of eight holes, saw a total of 942 metres drilled in aggregate in what is described as a phase 3-B program.
Highlights from results released this morning include:
- Wine 24-4: 20.3 metres of 2.88% copper, 2.14% nickel (2.85% nickel equivalent) from a depth of 66.0 metres
The small program was designed to test the Wine occurrence and one greenfield geophysical target found to the north. At Wine, the intent was to further define both the Upper and Main zones. Hole 24-4 is said to have not intersected the Upper zone, suggesting the zone is close to vertical. Hole 24-6 meanwhile is said to have been stopped short of hitting the down plunge extension of this zone.
Previously released intersects under the same drill program include the following:
- Wine 24-1: 5.5 metres of 0.76% copper, 1.58% nickel (1.75% nickel equivalent) from a depth of 23.5 metres
- Wine 24-1A: 45.5 metres of 1.20% copper, 1.32% nickel (1.55% nickel equivalent) from a depth of 29.7 metres
- Wine 24-2: 6.6 metres of 1.27% copper, 0.74% nickel (1.77% nickel equivalent) from a depth of 76.5 metres; 17.5 metres of 1.23% copper, 0.45% nickel (0.82% nickel equivalent) from a depth of 87.0 metres
“We continue to be very encouraged by our March 2024 drill program, which is an extension to the Phase III program completed late in 2023. Overall, the program has returned strong nickel and copper grades over meaningful widths, all near surface, and continues to identify new zones,” commented CEO Brad Humphrey.
Final assays from the drill program are expected to be released in the near term.
NiCan last traded at $0.095 on the TSX Venture.
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