Highlights
- Multiple holes extend PGM mineralization, up and downdip, on
East Zone with consistent grade and thickness
-
- 1.8 g/t palladium + platinum (0.9 g/t Pd, 0.9 g/t Pt) over 4.5
metres core length in hole CR20-34,
340 metres downdip from previously reported hole CR20-28 (1.7 g/t
across 4.5 metres core length)
- 2.0 g/t palladium + platinum (0.9 g/t Pd, 1.1 g/t Pt) over 3.0
metres core length in hole CR20-37,
150 metres updip from previously reported hole CR20-31 (1.8 g/t
across 3.0 metres core length)
- Multiple intersections of nickel mineralization more than 250
metres core length with a higher grade interval of 0.37% nickel and
0.3 g/t palladium + platinum (0.2 g/t Pd, 0.1 g/t Pt) over 33
metres core length in hole CR20-34 (consistent with nearby
intersection in previously reported hole CR20-28)
TORONTO, June 10, 2020 /CNW/ - Canada Nickel Company Inc.
(TSXV: CNC) ("Canada Nickel" or the "Company") today
announced results from drilling on the East Zone at its Crawford
Nickel-Cobalt Sulphide project have extended PGM mineralization and
yielded multiple nickel intersections.
Mark Selby, Chair and CEO of
Canada Nickel commented "These latest holes clearly demonstrate the
PGM potential of the East Zone and the multi-kilometre strike
length of the multiple structures at Crawford. Previous holes
had intersected mineralization from near-surface to a range of
depths, but these latest holes are the first on the East Zone on
the same sections and extended PGM mineralization by as much as 340
metres up and downdip with consistent grade/thickness."
Mr. Selby continued "The drilling – even in the less
prospective part of the East Zone where hole CR20-36
delivered more than 250 metres core length of nickel mineralization
including 75 metres grading 0.3% nickel – continues to reinforce
our belief that Crawford is one of the leading next generation
nickel-cobalt sulphide and palladium projects. We have two
drill rigs completing drilling on both the Main Zone and East Zone
for the resource update expected by the end of July. Follow up
drilling on the previously announced high grade PGM discovery in
hole CR20-32 will continue once spring thaw conditions
permit."
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.
PGM Zone
Drilling on the East Zone again returned multiple
palladium-platinum intersections at the northern contact between
the peridotite and pyroxenite layer directly to the north of the
nickel structure. Hole CR20-34 returned 1.8 g/t
palladium + platinum (0.9 g/t Pd, 0.9 g/t Pt) over 4.5 metres
within 0.7 g/t palladium + platinum (0.4 g/t Pd, 0.3 g/t Pt) over
18 metres, from 450 metres downhole. Hole CR20-37
returned 2.0 g/t palladium + platinum (0.9 g/t Pd, 1.1 g/t Pt) over
3.0 metres within 0.4 g/t palladium + platinum (0.2 g/t Pd, 0.2 g/t
Pt) over 24 metres, from 263 metres downhole. See Table 1 and
Figure 1 for results.
Table 1 – PGM Zone – Drilling Results, Crawford Nickel-Cobalt
Sulphide Project, Ontario
DDH ID
|
From
|
To
|
Length
|
Pd+Pt
|
Pd
|
Pt
|
Ni
|
Co
|
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
|
|
|
|
|
|
|
|
|
CR20-34
|
450.0
|
468.0
|
18.0
|
0.7
|
0.4
|
0.3
|
0.06
|
0.015
|
including
|
463.5
|
468.0
|
4.5
|
1.8
|
0.9
|
0.9
|
0.06
|
0.014
|
|
|
|
|
|
|
|
|
|
CR20-36
|
432.0
|
436.5
|
4.5
|
0.4
|
0.1
|
0.2
|
0.00
|
0.000
|
|
|
|
|
|
|
|
|
|
CR20-37
|
262.5
|
286.5
|
24.0
|
0.4
|
0.2
|
0.2
|
0.08
|
0.014
|
including
|
283.5
|
286.5
|
3.0
|
2.0
|
0.9
|
1.1
|
0.06
|
0.013
|
Note: All holes drilled at a 50 degree inclination. The
lengths reported are core lengths and not true widths. Canada
Nickel has insufficient information to determine the attitude,
either of the ultramafic body or of mineralized zones within it.
True widths will be less than the core lengths by a number of
factors.
East Zone - Nickel
Hole CR20-34 intersected one of the highest nickel
intercepts to date, returning 12 m of
0.42% nickel and 0.7 g/t palladium + platinum (0.5 g/t Pd, 0.2 g/t
Pt) within 33 m of 0.37% nickel and
0.3 g/t palladium + platinum (0.2 g/t Pd, 0.1 g/t Pt).
Hole 36 was drilled in a less prospective part of the
East Zone but still delivered 256 metres grading 0.23% nickel
including 75 metres grading 0.3% nickel. See Table 2 and
Figure 2 for results
Table 2 – Nickel Zone – Drilling Results, Crawford
Nickel-Cobalt Sulphide Project, Ontario
DDH ID
|
From
|
To
|
Length
|
Ni
|
Co
|
Pd
|
Pt
|
S
|
Fe
|
|
(m)
|
(m)
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
CR20-34
|
192.0
|
445.5
|
253.5
|
0.26
|
0.013
|
0.032
|
0.013
|
0.04
|
6.28
|
including
|
274.5
|
387.0
|
112.5
|
0.30
|
0.012
|
0.067
|
0.026
|
0.04
|
5.80
|
including
|
348.0
|
381.0
|
33.0
|
0.37
|
0.015
|
0.216
|
0.079
|
0.09
|
6.06
|
including
|
349.5
|
361.5
|
12.0
|
0.42
|
0.015
|
0.463
|
0.166
|
0.08
|
6.11
|
|
|
|
|
|
|
|
|
|
|
CR20-36
|
33.0
|
289.5
|
256.5
|
0.23
|
0.013
|
0.007
|
0.006
|
0.05
|
6.94
|
including
|
172.5
|
247.5
|
75.0
|
0.30
|
0.013
|
0.011
|
0.007
|
0.08
|
6.09
|
Note: All holes drilled at a 50 degree inclination. The
lengths reported are core lengths and not true widths. Canada
Nickel has insufficient information to determine the attitude,
either of the ultramafic body or of mineralized zones within it.
True widths will be less than the core lengths by a number of
factors.
Table 3 – Drill Hole Orientation, Crawford Nickel-Cobalt
Sulphide Project, Ontario
DDH ID
|
Easting
|
Northing
|
Dip
|
Azimuth
|
Length
|
|
(mE)
|
(mN)
|
(°)
|
(°)
|
(m)
|
CR20-34
|
473,700
|
5,409,675
|
-50
|
360
|
537
|
CR20-36
|
474,100
|
5,409,800
|
-50
|
360
|
483
|
CR20-37
|
474,900
|
5,409,725
|
-50
|
360
|
480
|
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 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.
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, 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.
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SOURCE Canada Nickel Company Inc.