Hole CR20-32 extended the PGM zone by 1.5 km along
strike and intersected 3 separate palladium-platinum zones including the
most promising palladium-platinum intersection to date – 2.6 g/t
palladium + platinum (1.3 g/t Pd, 1.3 g/t Pt) over 7.5 metres within 1.8
g/t (0.9 g/t Pd, 0.9 g/t Pt) over 12 metres at 123 metres downhole.
Assays for target nickel zone for this hole are pending.
Second
nickel discovery – East Zone. Assays from hole CR19-28 yielded the
highest grade nickel interval to date – 55 metres of 0.42% nickel and
0.2 g/t palladium + platinum (0.13 g/t Pd, 0.07 g/t Pt) within 256
metres of 0.30% nickel and 0.05 g/t palladium + platinum (0.03 /t Pd,
0.02 g/t Pt). The first two holes (CR19-28 and CR19-31) intersected
nickel mineralization in excess of 300 metres wide, confirmed that the
East Zone is a faulted continuation of the Main Zone, and doubled the
strike length of total nickel mineralization by 1.7 km to 3.4 km. Both
holes also confirmed the presence of the PGM Zone adjacent to the East
Zone nickel mineralization – hole CR19-28 intersecting 1.7 g/t palladium
+ platinum (0.8 g/t Pd, 0.9 g/t Pt) over 4.5 metres from 180 metres and
hole CR 19-31 intersecting 1.6 g/t (0.7 g/t Pd, 0.9 g/t Pt) over 3.0
metres from 525 metres.
TORONTO, May 19, 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 project, including the first two discovery holes on the East Zone, and partial assays from a third hole which is a 1.5 km extension to the PGM Zone on the Main Zone. The new East Zone discovery has only been tested for 1.7 km of its overall 2.6 km interpreted strike length and the original Main Zone remains open to the west and at depth.
Mark Selby, Chair and CEO of Canada Nickel commented “We are very pleased with both the new nickel and multi-zone palladium-platinum discoveries from our first step-out holes at Crawford. These new holes have also yielded both the most promising palladium + platinum (2.6 g/t across 7.5 m) intersection and highest grade nickel zone intersections to date (0.42% nickel + 0.2 g/t palladium + platinum across 55 m). With more than 1.5 km extensions to both the PGM Zone and Nickel Zones and assays pending from another 9 holes which have the potential to further extend the mineralization identified to date, we look forward to continued success as we unlock more targets at our original Crawford property. With the additional properties in the process of being acquired from Noble, we have added a number of nearby targets which we will begin exploring later in the year initially utilizing geophysics to determine the highest priority (based on potential for higher grade mineralization) targets.”
Mr. Selby continued “We continue to be encouraged by the results of our drilling program and are committed to establishing Crawford as one of the leading next generation nickel-cobalt sulphide and palladium projects. I extend my sincere thanks to our exploration team for their hard work and the ongoing support we’ve received from our local contractors including our drilling company NPLH. Our top priority is the safety and well being of our people especially during these challenging times.”
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.
New Nickel Discovery – East Zone
The first two holes of this next phase of exploration drilling
(CR19-28 and CR19-31) were drilled along the East Zone, doubling the
known total extent of nickel mineralization by 1.7 km to a total of 3.4
km. Both holes intersected large widths of nickel mineralization of 321
metres and 382 metres respectively, with hole CR19-28 ending in
mineralization at 573 m. Hole CR19-28 yielded the highest grade nickel interval to date – 55 m of 0.42% nickel and 0.2 g/t palladium + platinum within 256 m of 0.30% nickel and 0.05 g/t palladium + platinum within a total of 0.27% nickel across 321 m. A further 9 holes have been drilled on the East Zone which have assays pending. See Figures 1a, 1b and Table 1 for drilling results.
Similar to the PGM Zone on the Main Zone nickel-palladium resource,
both holes intersected palladium-platinum mineralization located at the
north contact between the peridotite and pyroxenite layer directly to
the north of the main nickel structure. Hole CR19-28 intersected 1.7
g/t (0.8 g/t Pd, 0.9 g/t Pt) over 4.5 m from 180 m and hole CR19-31 intersected 1.6 g/t (0.7 g/t Pd, 0.8 g/t Pt) over 3.0 m from 525 m. See Figure 2 for location of the PGM Zone.
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)
(%)
(%)
CR19-28
252.0
573.0
321.0
0.27
0.013
0.028
0.017
0.07
6.10
including
316.5
573.0
256.5
0.30
0.013
0.032
0.018
0.08
5.77
including
406.5
462.0
55.5
0.42
0.014
0.131
0.071
0.21
6.01
CR19-31
115.5
498.0
382.5
0.21
0.013
0.01
0.00
0.02
6.89
including
226.5
387.0
160.5
0.26
0.013
0.01
0.00
0.02
6.13
including
304.5
333.0
28.5
0.31
0.013
0.02
0.01
0.04
6.07
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 – Main Zone Extension
The third hole (CR20-32 – only partial assay results were available)
was positioned at the northeastern end of the Main Zone, approximately
1.5 km from the nearest previous hole and intersected three separate
palladium-platinum zones including the most promising palladium-platinum
results to date: 2.6 g/t palladium + platinum (1.3 g/t Pd, 1.3 g/t Pt)
over 7.5 m within 1.8 g/t (0.9 g/t Pd, 0.9 g/t Pt) over 12 m
from 123 metres. See Figure 2 and Table 2 for summary of the PGM
results. Each of the intersections was at a peridotite-pyroxenite
boundary which has now been intersected multiple times.
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.
For more information about this news release please see our interview with Mark Selby
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.
For more information about the Canada Nickel Crawford deposit please see our video discussing the highlights and geology of the deposit.
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.
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