Canada Nickel's drilling at Reid Property returns great results

Canada Nickel Company Inc. (“Canada Nickel” or the “Company”) (TSXV: CNC) (OTCQX: CNIKF) provided an update today on its 2024 exploration program with assay results from four new holes at its Reid property, which included the best drill result to date from the property. 

Six drill rigs are currently operating across the Company’s exploration portfolio. As outlined in a conference call held on February 23, 2024, the Company’s 2024 exploration program is targeting delivery of seven new resources by Q2-2025 and six further discoveries, unlocking the regional exploration potential of the Timmins Nickel District.

“Reid continues to deliver excellent results with yet another best drill interval to date.  We are encouraged by these four additional drill results with long drill intervals and three of the four holes reporting higher grade intervals”, said Mark Selby, CEO of Canada Nickel. “These results continue to highlight the very large-scale potential of this property. With six drill rigs now operating, we expect a steady flow of drill results from across the Company’s exploration portfolio.”

Reid Property
The Reid Property is located just 16 kilometres southwest of the Company’s Crawford Nickel Sulphide project (“Crawford”) and contains a geophysical target of 3.9 square kilometres, nearly 2.4 times larger than Crawford (see Figure 1).  The Company currently has an ongoing drilling program, with eight initial drill holes intersecting long intervals of dunite and ending in mineralization. Complete assays for holes REI24-18, REI24-19, REI24-20 and REI24-21 are disclosed in this release and four holes have assays pending. The holes in this release were collared near the west half of the target and drilled near the center of the intrusion. The ultramafic sequence in this area is more than 800 metres thick, nearly twice that of Crawford’s main zone.

Three of the four holes disclosed in this release intersected higher grade mineralization within the main ultramafic body. All holes collared and ended in dunite except REI24-19 which collared on a small dyke but intersected dunite starting at 49.5 metres and continued downhole. 

 

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