Highlights
- Follow up drilling of hole CR20-74 in West Zone substantially
extends higher grade mineralization by 45% or 850 metres to
northwest
-
- Higher grade mineralization of 0.30% nickel over core length of
308 metres, including 153 metres of 0.32% nickel and ending with an
additional 36 metres at 0.32% nickel
- Two holes, CR20-69 and CR-70, defined wide, low grade
mineralization across width of 1km within multi-kilometre anomaly
and remains open in multiple directions
- Airborne geophysical survey and interpretation work is
completed on regional option properties and will guide a regional
drilling program expected to commence this winter
TORONTO, Jan. 14, 2021 /CNW/ - Canada Nickel Company
Inc. ("Canada Nickel" or "The Company")
(TSX-V: CNC) (OTCQB: CNIKF) today announced encouraging results
from the latest drill holes at its Crawford Nickel-Cobalt Sulphide
project from its West Zone discovery previous announced on
October 22, 2020.
"We are excited to be kicking off the 2021 new year with
encouraging assay results from our follow up drilling program.
The wide higher-grade intersection from the West Zone has the
potential to extend the Higher Grade Core of nickel and cobalt
sulphides of the Main Zone by 45% or 850 metres to the
northwest. Only seven other holes across entire property have
intersected greater true widths of 0.30%+nickel.
Additionally, the two other West Zone holes reported today have
defined a very wide one kilometre of large, low grade
mineralization coincident with the large gravity anomaly on the
western part of the West Zone. I look forward to the
continued results from both the higher grade and lower grade zones
as additional assays become available," said Mark Selby, Chair and CEO of Canada Nickel.
"Additionally, we are expecting assay results from follow-up
holes on the previously reported PGM results from hole CR20-32 and
further results from the drilling currently underway on prospective
geophysical nickel targets across several kilometres of the
Crawford structure."
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.
West Zone Drill Results – Higher
Grade Zone
Drilling on the West Zone was guided by the geophysical
signature of low gravity gradient of serpentinized dunite and has
continued to intersect consistent nickel mineralization similar to
that in the resource areas in the Main and East Zones.
Notably, hole CR20-74 intersected 0.30% nickel over core length
of 308 metres (estimated true width of 198 metres) starting at 196
metres downhole, including 0.41% nickel over core length of 13
metres at 271.5 metres downhole, and ended with 0.32% nickel over
core length of 36 metres. The entire hole CR20-74 returned 0.28%
nickel over core length of 453 metres - 850 northwest of current
end of Higher Grade Core of Main Zone mineralization. Hole CR20-77
intersected 0.32% nickel over 90 metres starting at 144 metres
downhole, including 0.41% nickel over core length of 12 metres
starting at 177 metres downhole, and extends the Main Zone higher
grade core by 100 metres to the west.
West Zone Drilling Results – Lower Grade Zone
Complete assays from the first two holes in the western part of
the West Zone confirm wide, lower grade mineralization more than
800 metres wide. Hole 20-69 returned 0.16% nickel over entire core
length of 456 metres including 177 metres of 0.21% nickel. Hole
20-70 returned 0.17% nickel over entire core length of 495 metres
including 41 metres of 0.21% nickel.
See Figure 1 and Table 1 for results.
Next Steps
An airborne geophysical survey and
interpretation work has been completed on regional option
properties and will guide a regional drilling program expected to
commence this winter. Canada Nickel continues to work with its lead
consultant, Ausenco, on assessing utilizing Glencore Canada's Kidd
Operations for a start-up scenario. Additional metallurgical
recovery work combined with those recently announced locked cycle
test results will be incorporated into a Preliminary Economic
Analysis to be completed by the end of first quarter 2021.
Table 1 – West Zone Nickel – Drilling Results, Crawford
Nickel-Cobalt Sulphide Project, Ontario
DDH ID
|
From
|
To
|
Length
|
Estimated
True Width
|
Ni
|
Co
|
Pd
|
Pt
|
S
|
Fe
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
Higher Grade
Core
|
CR20-74
|
51.4
|
504.0
|
452.6
|
290.9
|
0.28
|
0.014
|
0.016
|
0.008
|
0.07
|
7.55
|
including
|
196.5
|
504.0
|
307.5
|
197.7
|
0.30
|
0.014
|
0.016
|
0.007
|
0.08
|
7.73
|
including
|
229.5
|
382.5
|
153.0
|
98.3
|
0.32
|
0.015
|
0.019
|
0.008
|
0.09
|
7.67
|
including
|
271.5
|
285.0
|
13.5
|
8.7
|
0.41
|
0.016
|
0.025
|
0.010
|
0.14
|
7.58
|
and
|
468.0
|
504.0
|
36.0
|
23.1
|
0.32
|
0.015
|
0.015
|
0.006
|
0.07
|
8.85
|
|
|
|
|
|
|
|
|
|
|
|
CR20-77
|
48.0
|
405.0
|
357.0
|
147.5
|
0.25
|
0.013
|
0.007
|
0.005
|
0.04
|
6.54
|
including
|
144.0
|
234.0
|
90.0
|
37.2
|
0.32
|
0.012
|
0.018
|
0.005
|
0.10
|
6.23
|
including
|
177.0
|
189.0
|
12.0
|
5.0
|
0.41
|
0.013
|
0.032
|
0.009
|
0.20
|
6.49
|
Large Lower Grade
Target
|
CR20-69
|
45.0
|
501.0
|
456.0
|
293.1
|
0.16
|
0.011
|
0.014
|
0.011
|
0.05
|
7.50
|
including
|
90.0
|
177.5
|
87.5
|
56.2
|
0.20
|
0.013
|
0.015
|
0.010
|
0.04
|
7.72
|
and
|
324.1
|
501.0
|
176.9
|
113.7
|
0.21
|
0.014
|
0.017
|
0.012
|
0.03
|
7.58
|
|
|
|
|
|
|
|
|
|
|
|
CR20-70
|
46.0
|
541.0
|
495.0
|
318.2
|
0.17
|
0.012
|
0.008
|
0.009
|
0.03
|
7.26
|
including
|
46.0
|
382.0
|
336.0
|
216.0
|
0.20
|
0.014
|
0.005
|
0.007
|
0.01
|
7.41
|
and
|
500.4
|
541.0
|
40.6
|
26.1
|
0.21
|
0.014
|
0.024
|
0.020
|
0.03
|
7.64
|
Note:
|
Holes drilled at a 50
degree or 65 degree inclination – see Table 2 below. The
lengths reported are core lengths and not true widths. True
widths are estimated based on dip and core lengths but may change
once Canada Nickel has sufficient information to determine the
attitude, either of the ultramafic body or of mineralized zones
within it.
|
Table 2 – Drill Hole Orientation, Crawford Nickel-Cobalt
Sulphide Project, Ontario
DDH
ID
|
Northing
|
Easting
|
Azimuth
|
Dip
|
Length
|
|
(mN)
|
(mE)
|
(°)
|
(°)
|
(m)
|
CR20-69
|
5409690.0
|
470960.0
|
90.0
|
-50.0
|
501
|
CR20-70
|
5409823.7
|
471416.6
|
269.5
|
-50.4
|
541
|
CR20-74
|
5409828.0
|
471648.0
|
90.1
|
-50.0
|
504
|
CR20-77
|
5409150.0
|
472697.0
|
222.8
|
-65.6
|
405
|
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Assays, Quality Assurance/Quality Control and Drilling and
Assay Procedures
William E. MacRae, MSc, P.Geo., a
"qualified person" as defined by NI 43-101, is responsible for the
on-going drilling and sampling program, including quality assurance
(QA) and quality control (QC). The core is collected from the drill
in sealed core trays and transported to the core logging facility.
The core is marked and sampled at 1.5 metre lengths and cut with a
diamond blade saw. Samples are bagged with QA/QC samples inserted
in batches of 35 samples per lot. Samples are transported in secure
bags directly from the Canada Nickel core shack to Actlabs Timmins,
an ISO/IEC 17025 accredited lab. Analysis for precious metals
(gold, platinum and palladium) are completed by Fire Assay while
analysis for nickel, cobalt, sulphur and 17 other elements are
performed using a peroxide fusion and ICP-OES analysis. Certified
standards and blanks are inserted at a rate of one QA/QC sample per
32 core samples making a batch of 35 samples that are submitted for
analysis.
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.
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. For more information
please visit www.canadanickel.com.
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, risks of the mining
industry, delays in obtaining governmental approvals, failure to
obtain regulatory or shareholder approvals, and the impact of
COVID-19 related disruptions in relation to the Company's business
operations including upon its employees, suppliers, facilities and
other stakeholders. 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.
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SOURCE Canada Nickel Company Inc.