Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF) is releasing assay results from its initial drill program at the Texmont property. The results, which are from the first 12 holes of the drill program, confirm high-grade, near-surface nickel mineralization. According to the announcement, the company has drilled 39 holes and 9,670 meters as it has completed the initial phase to support the development of a mineral resource at Texmont, which is located 36 kilometers south of Timmins; the mineral resource is expected to be delivered later this year. The drill results confirm the mineralization pinches out to the south but remains open to the north and at depth. The report also noted that further drilling to the north of the former mine shaft intersected thick sections of mineralized peridotite; however, assay results are not yet available for that portion. The announcement stated that this drilling is expected to be incorporated, along with historic drilling by Fletcher Nickel (which drilled 28,883 meters from 2006–2008) into an initial resource estimate to be released later this year. “We are excited by the results of our initial phase of drilling and assay results at Texmont, which confirm our thesis of near-surface, high-grade intervals of nickel that is present within thick mineralized sections, which support the potential for near-term, smaller scale, open pit production,” said Canada Nickel Company chair and CEO Mark Selby in the press release. “This near-term production potential is highly complementary to our large-scale Crawford and regional nickel sulphide project.”
To view the full release, visit https://ibn.fm/I2ymT
About Canada Nickel Company
Canada Nickel is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high-growth electric vehicle and stainless-steel markets. Canada Nickel has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM), and is also pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt and iron products. The company provides investors with leverage to nickel in low political-risk jurisdictions. Canada Nickel is currently anchored by its wholly owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information about the company, visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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