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Canada Nickel Makes Fourth New Discovery – North Zone at Crawford Nickel-Cobalt Sulphide Project

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Canada Nickel Makes Fourth New Discovery – North Zone at Crawford Nickel-Cobalt Sulphide Project

 

 

 

 

 

Highlights

  • Sizeable discovery with scale potential and further confirmation of Canada Nickel’s geophysical model – discovery hole collared in mineralized dunite and remained in mineralized dunite across entire core length of 501 metres. Assays are pending
  • North Zone (anomaly of 1.1 km long by 400 metre wide) has same geophysical signature as Main Zone

 

Canada Nickel Company Inc. (TSX-V:CNC) (OTCQB: CNIKF) announced its fourth new discovery – North Zone, at its Crawford Nickel-Cobalt Sulphide project, from the first two drill holes. The assays from the North Zone are pending.

 

“This is another excellent discovery – a sizeable anomaly with significant scale potential and further confirmation of our geophysical model which we will be applying to the recently completed geophysics programs on our option properties.” said Mark Selby, Chair and CEO of Canada Nickel. “The first two drill holes were spotted based on the same coincidental geophysical signatures as we saw at the Main Zone and have delivered moderately mineralized dunite similar to average grade portions of the Main Zone.  I look forward to seeing these assay results and further exploration results from the three drills at the property, as we continue to unlock the potential at Crawford and prepare to test the exploration potential of our option properties.”

 

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.

 

North Zone Discovery

 

The two holes, collared 100 metres apart, were both collared in serpentinized dunite, consistent with mineralization seen in the Crawford Main Zone.  The first hole, CR20-84, remained in mineralized dunite across its entire core length of 501 metres. Additionally, the second hole, CR20-87, collared in and intersected mineralized dunite for 218 metres before intersecting multiple peridotite/pyroxenite sequences similar to ones seen in recently discovered PGM zones at Crawford.  The anomaly in the North Zone is 1.1 km by 400 metres and confirms the Company’s understanding of coincident magnetic and gravity geophysical anomalies as a guide to mineralization, as seen in the Main Zone.  See Figures 1, 2 and 3, and Table 1 for location and position of holes relative to geophysical anomaly.

 

 

Table 1 – Drill Hole Orientation, Crawford Nickel-Cobalt Sulphide Project, Ontario

 

DDH ID Easting Northing Dip Azimuth Length
  (mE) (mN) (°) (°) (m)
CR20-84 472549 5412166 -65 180 501
CR20-87 472645 5412169 -50 180 598

 

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 Company has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. 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, please visit www.canadanickel.com

 

 


Figure 1 – Plan view of North Zone in relation to Main Zone and East Zone resources, Crawford Nickel-Cobalt Sulphide Project, Ontario. (CNW Group/Canada Nickel Company Inc.)

 


Figure 2 – North Zone Discovery Holes on gravity gradient and magnetic gradient (Crawford Township airborne gravimetric survey completed in 2018) (CNW Group/Canada Nickel Company Inc.)

 


Figure 3 – North Zone Cross-Section (550E) on 3D inversion magnetic intensity (CNW Group/Canada Nickel Company Inc.)

 

Posted December 17, 2020

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