Hole CR20-33 extended East Zone nickel and PGM
mineralization along strike by 400 metres to the east (to 2.1
kilometres) and yielded another higher grade intersection with elevated
PGM grades – 38 metres of 0.37% nickel and 0.17 g/t palladium + platinum
(0.12 g/t Pd, 0.05 g/t Pt) within 315 metres of 0.25% nickel from 120
metres downhole.
Hole CR20-32 extended Main Zone nickel
mineralization by 1.5 km along strike to the north (to 3.2 km) and
yielded 243 meters of 0.25% nickel and 0.013% cobalt from 390 metres
downhole and ended in mineralization with the final 57 metres grading
0.30% nickel and 0.013% cobalt. (Assays from PGM portion of this hole
were announced in Canada Nickel press release dated May 19, 2020.)
TORONTO, May 27, 2020 /CNW/ – Canada Nickel Company Inc. (TSX-V:CNC) (“Canada Nickel” or the “Company“)
today announced the results from the latest drill holes at its Crawford
Nickel-Cobalt Sulphide project, including a third hole, CR20-33, into
the newly discovered East Zone, which extends nickel mineralization a
farther 400 metres east, and the nickel assays from the previously
reported hole CR20-32, which extend Main Zone nickel mineralization by
1.5 kilometres to the north.
The new East Zone discovery has been tested for 2.1 km of its overall
2.8 km interpreted strike length and the original Main Zone remains
open for several kilometres to the west.
“We are very pleased with the latest significant nickel
mineralization step-outs – extending our Main Zone by 1.5 kilometres and
our East Zone discovery by 400 metres. Importantly, this is the second
of three holes on the East Zone with a higher grade interval (0.37%
nickel over 38 metres) that also contained elevated palladium and
platinum grades,” said Mark Selby, Chair and CEO of Canada Nickel.
“Our latest drilling results further reinforce our belief that
Crawford is one of the leading next generation nickel-cobalt sulphide
and palladium projects. “
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.
Nickel Mineralization Extensions – Main Zone, East Zone Nickel Discovery
Table 1 – East Zone Nickel Drilling Results, Crawford Nickel-Cobalt Sulphide Project
DDH ID
From
To
Length
Ni
Co
Pd
Pt
S
Fe
(m)
(m)
(m)
(%)
(%)
(g/t)
(g/t)
(%)
(%)
CR20-32
390.0
633.0
243.0
0.25
0.013
0.003
0.003
0.02
6.10
including
438.0
633.0
195.0
0.27
0.013
0.003
0.003
0.02
5.80
including
576.0
633.0
57.0
0.30
0.013
0.003
0.003
0.01
5.88
CR20-33
119.8
434.4
314.6
0.25
0.013
0.018
0.008
0.04
6.70
including
190.6
422.4
231.8
0.28
0.013
0.022
0.010
0.04
6.26
including
272.4
362.4
90.0
0.32
0.013
0.053
0.020
0.06
5.82
including
324.9
362.4
37.5
0.37
0.015
0.122
0.044
0.10
6.05
including
332.4
335.4
3.0
0.42
0.014
1.160
0.035
0.12
5.72
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.
PGM Zone – East Zone Extension
Similar to the PGM Zones previously defined on the East Zone and Main
Zone nickel-palladium resource, hole CR20-33 intersected 2 zones of
palladium-platinum mineralization located at the north contact between
the peridotite and pyroxenite layer directly to the north of the nickel
structure, returning 1.04 g/t palladium + platinum (0.54 g/t Pd, 0.50
g/t Pt) over 3 m from 454 metres and 1.5 metres of 1.36 g/t palladium + platinum (0.66 g/t Pd, 0.70 g/t Pt) over 1.5 m from 521 metres. See Figure 2 for location of the PGM Zone.
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.
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.
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, 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.
SOURCE Canada Nickel Company Inc.
For more information check out our interview with Mark Selby released May 20th
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