お知らせ • Sep 12
Canada Nickel Demonstrates Potential of Timmins Nickel District with Positive Exploration Results from Seven Regional Targets
Canada Nickel Company Inc. announced positive exploration drilling results from 48 holes (of which 38 have assays provided in this release) at seven of its regional nickel properties - Reid, Mann (North, West, Central and South), Reaume, and Texmont. Canada Nickel has completed 24,875 metres from 38 holes drilled during its 2024 drill program at Reid. The drill campaign has delineated a mineralized ultramafic body over a strike length of 2.2 kilometres and width up to 1.0 kilometres and up to a depth of 650 metres within the central core of the target geophysical footprint, and the core remains open to the north and at depth. Hole REI24-42 was drilled near the center of the core and successfully targeted the strike extension of a previously identified higher-grade horizon, assaying 710 metres of 0.25% Ni for its entire length and 105 metres of 0.35% nickel, and 22.5 metres of 0.41% nickel across the higher-grade horizon. Hole REI24-33 was drilled in the western section of the core and encountered mineralized peridotite and dunite to the end of hole, assaying 402 metres of 0.25% nickel and extending the central core to the west by 200 metres. Hole REI24-40 was drilled near the eastern edge of the ultramafic and extended the central core by 300 metres to the east intersecting 544 metres of 0.23% nickel. REI24-44 was drilled near the center of the target collaring and ending in mineralized dunite with 678 metres of 0.24% nickel, also intersecting higher- grade mineralization including 7.5 metres of 0.41% nickel. The Reid project has a total of 31,706 metres from 54 holes drilled to date, and the Company will use data from this central core to produce an initial resource expected by Fourth Quarter 2024. The project is located just 16 kilometres southwest of Crawford and contains a geophysical target of 3.9 square kilometres which is nearly 2.4 times larger than Crawford. The Mann property is located 22 kilometres east of Crawford, 20 kilometres south of Cochrane, and 45 kilometres northeast of Timmins. The property hosts a series of ultramafic rocks that are thought to be folded and faulted along a near-continuous 21-kilometre strike length. The ultramafics continue to the southeast into Newmarket Township. The Company is currently conducting a drill program that has identified targets in four areas within Mann Township, Mann North, Mann West (together formerly Mann Northwest), Central and South. The outline of the ultramafic body is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target started in June 2024 and consisted of an initial exploratory phase that included 24 drillholes totaling 9,311 metres. This phase of drilling targeted the ultramafic body where it has a shallow dip to the north and is primarily composed of peridotite and minor dunite, with some pyroxenite dykes. Serpentinization of the host rock is moderate to high, containing fine-grained nickel mineralization, with serpentinization appearing more consistent near the center of the target where an area 1.9 kilometres by 600 metres (1.1 square kilometres) has now been delineated by drilling. In this area, hole MAN24-21 intersected 223.4 metres averaging 0.29% nickel, including a 10.5 metres section of 0.51% nickel. Results from the first nine holes and assays pending for the remaining 15 holes. The target is approximately 1.5 kilometres long by 600 metres wide (0.9 square kilometres). Drilling at Mann North began in June 2024 and consisted of a preliminary exploratory phase of 16 drillholes totaling 6,315 metres. The majority of these holes intersected long sections of peridotite, minor dunite, and lesser talcose ultramafics, with strong serpentinization and good disseminated mineralization along most of the target strike length. MAN24-28, was collared near the north end of the target, drilling to the southwest, starting in dunite at 27 metres downhole and ending in peridotite at 414 metres. MAN24-27 was drilled to test the northeast contact and intersected 5.9 metres of 0.52 g/t Pt+Pd near a pyroxenite-gabbro contact. Assays are pending for the 14 remaining holes now completed. Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program has focused on the southern half of the target and is currently exploring a strike length of 1.7 kilometres and a width of at least 600 metres. Drilling thus far has intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 16 holes to date at Mann West and is halfway through this phase of exploration that is required for an initial resource estimate expected by First Quarter 2025. Assays for all the holes at Mann West are currently pending. This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The drill program at Mann South started in August and first assay results are not expected until October 2024. Three holes have been completed, and successfully intersected varying degrees of serpentinized peridotite and minor pyroxenite. The Company will continue testing the strike length of Mann South into the fall of 2024. The Reaume property is located 20 kilometres northeast of Crawford, 15 kilometres southwest of Cochrane, and 55 kilometres northeast of Timmins. Prior drill campaigns in 2022 had seasonal access constraints, however, in June 2024, the Company resumed exploration and intersected a strongly mineralized portion of the ultramafic body consisting of moderate to strongly serpentinized peridotite containing spotty, coarse-grained awaruite mineralization in hole REU24-12. Assay results are pending on all 5 holes. The 2024 drill program successfully tested the strike extension of the North Zone, as well as the continuation of high-grade nickel mineralization at depth within the Main Zoneta. Twenty- five holes totaling 8,971 metres have been completed thus far in 2024. In total, 18,722 metres have been drilled at Texmont which will be used to produce a preliminary resource estimate expected by Fourth Quarter of 2024. The Main Zone was originally defined and brought into production briefly in the 1970s but was shut down due to high oil prices. Additional work by Fletcher Nickel from 2006-2008 expanded mineralization at the Main Zone and also identified mineralization farther north. This area was first targeted by Canada Nickel in 2023 with a series of 5 holes into what is now called the North Zone. The purpose of the recent North Zone drilling has been to expand the zone southward toward the Main Zone and to determine if these two zones are connected by high- grade nickel mineralization.
