Canada Nickel announces Main Zone extension and additional results at Crawford

Canada Nickel Company has announced assay results from the latest 34 drill holes from the Crawford area. A further 26 holes have been drilled at Crawford with assays pending.

“Our Preliminary Economic Assessment (“PEA”) is based on a mineral resource cut-off from approximately eight months ago. Since then, we have completed more than double the amount of drilling. Today’s results clearly demonstrate the potential to significantly increase the size and quality of the mineral resource through the success of the infill drilling and the extension of the Main Zone by 1.8 kilometres to the northwest, initial assay results from the North Zone, and successful infill drilling in the East Zone. Today’s results also highlight the PGM potential to be incorporated in the feasibility study, expected in mid-2022, as we develop a path to market which is expected to deliver nickel units into the electric vehicle sector alongside the stainless steel path included in the PEA. This path to market is expected to allow the recovery of PGMs along with cobalt, generating additional revenues from metals already being recovered into concentrate. I look forward to further results from Crawford as we continue to explore the district potential of our Timmins land package,” said Mark Selby, Chair and CEO of Canada Nickel.

The Crawford Nickel 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.

Main Zone – Western Extension

Assays have been received from 10 holes between the existing Main Zone resource and north-westernmost extent of the geophysical anomaly, which have extended the envelope of mineralized dunite by 1.8 km from the northwest boundary of the current resource. Four additional holes from this area were previously reported in the Company’s January 14, 2021 news release and a further eight holes have been drilled and have assays pending. 8 of 10 holes intersected higher grade material (>0.30% nickel) ranging in true widths of 17 to 71 metres. See Figure 1 and Table 1 for results.
Main Zone – Western Extension – Nickel + PGM Intervals
Holes 106A and 109 have yielded the first higher grade PGM intersections in the Main Zone mineralization – true width of 3.9 metres of 1.6 g/t PGM and 0.49% nickel, and 6.7 metres of 1.6 g/t PGM and 0.30% nickel, respectively. This area and another area 800 metres to the north with a similar geophysical footprint will be a focus of future exploration efforts to further delineate this higher grade zone of mineralization. See Table 3c for results.

Main Zone – Western Extension – Nickel + PGM Intervals

Holes 106A and 109 have yielded the first higher grade PGM intersections in the Main Zone mineralization – true width of 3.9 metres of 1.6 g/t PGM and 0.49% nickel, and 6.7 metres of 1.6 g/t PGM and 0.30% nickel, respectively. This area and another area 800 metres to the north with a similar geophysical footprint will be a focus of future exploration efforts to further delineate this higher grade zone of mineralization. See Table 3c for results.

West Zone Drilling Results – Lower Grade Zone

Nine holes were completed in the lower grade section of the western side of the Crawford structure which continued to return wide, lower grade intersections. Hole 83 returned 0.23% nickel over an entire core length of 441 metres, including 6.0 metres of 0.33% nickel. Hole 80 was also mineralized over the entire core length, returning 0.23% nickel over 453 metres, including 0.37% nickel over 19.5 metres. The first two holes, previously released on January 14, 2021, in this part of the West Zone confirm wide, lower grade mineralization more than 800 metres wide. See Figure 1 and Table 2 for results.
 

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