TORONTO, Dec. 1, 2020 /CNW/ - Canada Nickel Company
Inc. ("Canada Nickel" or "The Company")
(TSX-V:CNC) (OTCQB: CNIKF) is pleased to provide a project update
on its Crawford Nickel-Cobalt Project.
"We continue to advance Crawford aggressively on multiple
fronts towards completion of the Preliminary Economic Analysis
("PEA") and unlocking its exploration potential. Our
metallurgy program continues to deliver results that are in line
with or exceeding our expectations. While we had expected to
release the results of some locked cycle tests today, some lab
changes that were made in order to simplify executing this specific
set of tests had an unintended impact and require the tests to be
re-run. Based on lab availability and timing, these results are
expected to be available by the end of December." said
Mark Selby, Chair and CEO of Canada
Nickel.
Exploration Update
A third drill rig has arrived at the Crawford Project site to
begin exploration drilling on a fourth target structure: the
"North" anomaly. This anomaly possesses a similar coincident
geophysics signature to the Main Zone. It is approximately 1
kilometre long by 300 metres wide and is located adjacent to
Highway 655 approximately 3 kilometres north of the Main
Zone. The other two drill rigs continue to explore the
recently announced West Zone discovery, extensions of the Higher
Grade Core of the Main Zone, infill and extensions to the East
Zone, and extensions to the PGM Zone. Assay results have
slowed with the overall level of exploration activity in the
Timmins region, but will be
released as they become available.
The Company will run three drill rigs through the winter to
continue exploring the existing targets at Crawford and begin
drilling targets identified through the recently completed airborne
geophysics program. Two significant targets with coincident
magnetic and gravity anomalies have already been identified and
additional targets are expected to be generated once the
interpretation is completed later this month. More specific
details will be provided on these targets before year-end.
The Crawford Nickel-Cobalt Sulphide Project is located in the
heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to
well-established, major infrastructure associated with over 100
years of regional mining activity.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of
nickel-cobalt sulphide projects to deliver nickel and cobalt
required to feed the high growth electric vehicle and stainless
steel markets. Canada Nickel Company has applied in multiple
jurisdictions to trademark the terms NetZero NickelTM,
NetZero CobaltTM, NetZero IronTM and is
pursuing the development of processes to allow the production of
net zero carbon nickel, cobalt, and iron products. Canada Nickel
provides investors with leverage to nickel and cobalt in low
political risk jurisdictions. Canada Nickel is currently
anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide
Project in the heart of the prolific Timmins-Cochrane mining camp.
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP
Exploration of Canada Nickel and a "qualified person" as such term
is defined by National Instrument 43-101, has verified the data
disclosed in this news release, and has otherwise reviewed and
approved the technical information in this news release on behalf
of Canada Nickel Company Inc.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward looking information includes, but
is not limited to, drill results relating to the Crawford
Nickel-Cobalt Sulphide Project, the potential of the Crawford
Nickel-Cobalt Sulphide Project, timing of economic studies and
resource estimates, strategic plans, including future exploration
and development results, and corporate and technical objectives.
Forward-looking information is necessarily based upon a number of
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking information.
Factors that could affect the outcome include, among others: future
prices and the supply of metals, the future demand for metals, the
results of drilling, inability to raise the money necessary to
incur the expenditures required to retain and advance the property,
environmental liabilities (known and unknown), general business,
economic, competitive, political and social uncertainties, results
of exploration programs, timing of the updated resource estimate,
risks of the mining industry, delays in obtaining governmental
approvals, and failure to obtain regulatory or shareholder
approvals. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof. Canada
Nickel disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
SOURCE Canada Nickel Company Inc.