Canada Nickel Company Inc. [CNC-TSXV; CNIKF-OTCQX] reported drilling results from a further three holes and assay results from the first five of eight holes drilled on its Mann Northwest property located in the prolific Timmins nickel district in Ontario.
Mark Selby, CEO, commented: “Our regional exploration program continues to deliver with today’s confirmation of another discovery at Mann Northwest, part of Canada Nickel’s Timmins nickel district. Mann Northwest has a target footprint more than three times that of Crawford and is one of 11 properties with a target footprint larger than Crawford. Three additional holes extended the strike length of mineralization by more than 1,100 metres to 2,650 metres, and assays from first five holes confirmed grades in line with expectations.”
The Mann property is located 22 km east of Crawford, 20 km south of Cochrane and 45 km northeast of Timmins. Canada Nickel can earn an 80% interest in the property owned by Noble Minerals. Drilling began at Mann Northwest, which has a target footprint of 6.0 km2 compared with the Crawford target footprint of 1.6 km2.
Drilling started in the Northwest zone, with a total of eight holes drilled, all of them intersecting mineralized sections of predominantly well-serpentinized peridotite and minor dunite. This release discloses assay results from the first five drill holes, and assays for the other three drill holes are pending.
The first five holes delineated mineralization along 1,150 metres of strike length and a width of at least 500 metres. The additional three holes extended the potential strike length to 2,650 metres. The target remains open in all directions.
MAN23-01 drilled to the southwest and intersected peridotite from top to bottom only, interrupted by 23.5 metres of pyroxenite with 0.44 g/t platinum plus palladium. Initial samples were taken for mineralogical testing (Qemscan), confirming samples are very well serpentinized with varying amounts of heazlewoodite and pentlandite.
MAN23-02 intersected 348.5 metres at 0.23% nickel in peridotite and finished in 28.9 metres of 0.52 g/t platinum plus palladium in pyroxenite.
MAN23-03 drilled to the northeast and intersected mineralized peridotite at the top and dunite at the bottom, with an average grade of 0.23% nickel over 291.5 metres. The hole ended in dunite at 402 metres only interrupted by diabase dikes near the bottom.
MAN23-04 drilled near the southern end of the target and intersected 301.5 metres of peridotite with 0.18% nickel, followed by 16 metres of 0.41 g/t platinum plus palladium in pyroxenite.
MAN23-05 drilled to the southwest and intersected a sequence of peridotite with minor dunite and pyroxenite. The hole assayed 366.5 metres of 0.20 nickel, including 11.0 metres of 0.44 g/t platinum plus palladium. The hole ended in mineralized peridotite.
MAN23-13 drilled to the southwest approximately 750 metres northwest of MAN23-05. The hole intersected 404.5 metres of interlayered dunite, peridotite and pyroxenite with predominantly moderate to strong serpentinization.
MAN23-14 drilled to the northeast collaring and terminating in mineralized dunite with intervals of peridotite. The hole is moderate to well mineralized and moderate to well serpentinized across core length of 390.0 metres.
MAN23-15 drilled to the northeast testing a fold hinge of a major structure, and it intersected 415 metres of a sequence of dunite, peridotite, pyroxenite and gabbro. The hole has sections of very-well-mineralized and well-serpentinized ultramafic.
Subject to TSXV approval, Canada Nickel agreed to issue an aggregate of 61,982 common shares of the company at a deemed issue price of $1.15 per common share in satisfaction of an aggregate of $71,280 in obligations due to a service provider of the company.
The company also has entered into an amending agreement to the previously announced option agreement dated February 2, 2022, under which the company and the optionor agreed to accelerate the option for the company to acquire a 100% interest in certain mining claims located in the province of Ontario.
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.