Canada Nickel makes third new discovery at Crawford Project, shares up

Canada Nickel is advancing the new Crawford nickel-cobalt sulphide discovery.

Share this article

Canada Nickel Company Inc. [CNC-TSXV; CNIKF-OTCQB] announced the discovery of previously unknown mineralization at its Crawford nickel-cobalt sulphide project. The discovery was made from four new drill holes; assays are pending.

All four drill holes intersected mineralized dunite across a width of 800 metres and along a strike length of 425 metres in a 2.5 km by 400-800 metre wide geophysical anomaly approximately 850 metres northwest of Main Zone.

The fourth hole ended in mineralization (0.31% nickel, 0.09% sulphur, 0.06 g/t platinum group metals, 0.014% cobalt, 7.37% iron across 21 metres) with more assays pending.

This discovery is separate and in addition to the company’s latest resource update, which focuses on the company’s first two discoveries.

“This is yet another exciting discovery on the Crawford nickel-cobalt sulphide project with a geophysical footprint larger than the Main Zone,” said Mark Selby, chair andCEO of Canada Nickel. “These drill holes intersected mineralization consistent with what we’ve seen in the Crawford Main zone, and reinforces our geophysical understanding of Crawford’s mineralization. I look forward to seeing these assay results and our continued exploration results as we continue to unlock the potential at Crawford.”

The Crawford nickel-cobalt sulphide project is located in the heart of the prolific Timmins-Cochrane mining camp in northeastern Ontario, and is adjacent to well-established, major infrastructure associated with over 100 years of regional mining activity.

In October 22 trading, shares of Canada Nickel gained $0.20 to $2.34, or 9.3%, on a volume of 1,235,700 shares traded.


Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't miss the

NEWSLETTER

Exclusive editorial

Breaking News

Quality Company Coverage

Expert Writers

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Resource World Magazine will use the information you provide on this form to be in touch with you and to provide updates and marketing.