Nican drills 2.22% NiEq over 8.6 metres at Wine project, Manitoba

Nican Ltd. [NICN-TSXV] reported additional assay results from its 2022 reconnaissance diamond drilling program at its Wine project in Manitoba, Canada. These drill holes were completed to further the understanding of the overall mineralization encountered on the Wine Occurrence and to assist in the targeting of future drilling within the Wine Gabbro area.

Highlights include diamond drill hole Wine-22-03 that intersected 8.6 metres averaging 1.01% copper, 1.89% nickel (2.22% NiEq – nickel equivalent), 0.10% cobalt, and 0.46 g/t PGM from 66.6 to 75.4 metres and 1.8 metres averaging 3.64% copper, 0.33% nickel (1.53% NiEq), 0.01% cobalt and 0.81 g/t PGM from 79.5 to 81.3 metres.

Diamond drill hole Wine-22-09 intersected 7.0 metres averaging 1.57% copper, 0.54% nickel (1.07% NiEq), 0.59% cobalt and 0.24 g/t PGM from 21.0 to 28.0 metres.

Brad Humphrey, President, and CEO, stated, “We are very happy with the overall results from this initial reconnaissance drilling program on the Wine Occurrence. The grades and widths of mineralization, including newly defined zones, exceeded our initial expectations for this program. We have gained a much better understanding of the potential geological model, and the configuration and grade of the mineralization, and will apply this knowledge to test multiple targets in the Wine Gabbro in upcoming drilling programs.”The initial 2022 reconnaissance and confirmation exploration program included an airborne geophysical survey, partial resampling of a historical drill hole, downhole geophysical (electro-magnetic) surveys and diamond drilling testing an area known as the Wine Occurrence, as well as other nearby anomalies.

This program successfully achieved Nican’s objective to confirm the presence of nickel-copper mineralization at the Wine Occurrence, better understand the orientation of the mineralization and improve Nican’s understanding of the geological model, which will be used to better target future drilling programs.

Subsequently, Nican completed an Airborne VTEM survey over the entire Wine property area. The final analysis and compilation of this survey is nearly complete and will be used, along with the 2022 exploration program and all historical data, to design the upcoming drilling program.