Canada Nickel Company announces results and confirms discovery at Reid Property

Canada Nickel Company Inc. announced today assay results at its Reid property, where two drill holes have been completed as part of its regional exploration program. Drilling was highlighted by hole REI21-02 which intersected 354 meters of 0.24% nickel and includes 15 meters of 0.39% nickel and 6 meters of 0.57% nickel. Mineralogy completed on samples from these holes confirmed that they contain the same heazlewoodite-pentlandite-awaruite minerals as Crawford.
 
Mark Selby, Chair and Chief Executive Officer said, “We are very pleased with our drilling on the Reid target.  The assay results from the second hole achieved expected grades over 354 metres and contains a core of higher grade mineralization of 15 metres of 0.39% nickel, and the first hole intersected a PGM zone similar to that at Crawford. 

"We are continuing to drill Reid as we highlight the resource potential of this target with a larger geophysical footprint than our original Crawford discovery.  Additionally, we are looking forward to the release of our updated resource estimate for Crawford expected to be released by July 6, 2022.”

Reid Nickel Property

The Reid Property is located just 16 kilometres southwest of Crawford and contains an ultramafic target that measures 3.3 kilometres north-south by 2.1 kilometres east-west based on the total magnetic intensity (“TMI”) (see Figure 1).   Hole REI-22-02 collared on dunite in the SE corner of the target, and was drilled to the NW. It remained in dunite for a total length of 354 metres grading 0.24% nickel, with a higher-grade section near the bottom of the hole intersecting 0.39% nickel over 15 metres (see table 1A). The hole ended in mineralized dunite, and the contact is open to the north.

REI22-01 collared on dunite in the same setup, drilling towards the south contact where the magnetic anomaly is at its highest. The hole transitioned from dunite to a sequence of peridotite-pyroxenite-gabbro similar to that seen at Crawford. The pyroxenite in the sequence yielded 1.6g/t Pt+Pd over 4.5 metres (see Table 1B) similar in grade and thickness to PGM zone at Crawford.
Mineralogy completed on samples from these holes confirmed that they contain the same heazlewoodite-pentlandite-awaruite minerals as Crawford.

As of June, drilling at Reid resumed with a helicopter supported program that will test the extent of the anomaly.
 
Figure 1 – Plan View of Reid – Drill Results Overlain on Total Field Magnetic Intensity.

Tags: Northern Ontario / Exploration / Battery Metals / All Articles