Highlights
- Hole CR20-33 extended East Zone nickel and PGM mineralization
along strike by 400 metres to the east (to 2.1 kilometres) and
yielded another higher grade intersection with elevated PGM grades
– 38 metres of 0.37% nickel and 0.17 g/t palladium + platinum (0.12
g/t Pd, 0.05 g/t Pt) within 315 metres of 0.25% nickel from 120
metres downhole.
- Hole CR20-32 extended Main Zone nickel mineralization by 1.5 km
along strike to the north (to 3.2 km) and yielded 243 meters of
0.25% nickel and 0.013% cobalt from 390 metres downhole and ended
in mineralization with the final 57 metres grading 0.30% nickel and
0.013% cobalt. (Assays from PGM portion of this hole were announced
in Canada Nickel press release
dated May 19, 2020.)
TORONTO, May 27, 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 Sulphide project, including a third hole,
CR20-33, into the newly discovered East Zone, which extends nickel
mineralization a farther 400 metres east, and the nickel assays
from the previously reported hole CR20-32, which extend Main Zone
nickel mineralization by 1.5 kilometres to the north.
The new East Zone discovery has been tested for 2.1 km of its
overall 2.8 km interpreted strike length and the original Main Zone
remains open for several kilometres to the west.
"We are very pleased with the latest significant nickel
mineralization step-outs – extending our Main Zone by 1.5
kilometres and our East Zone discovery by 400 metres. Importantly,
this is the second of three holes on the East Zone with a higher
grade interval (0.37% nickel over 38 metres) that also contained
elevated palladium and platinum grades," said Mark Selby, Chair and CEO of Canada
Nickel.
"Our latest drilling results further reinforce our belief
that Crawford is one of the leading next generation nickel-cobalt
sulphide and palladium projects. "
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.
Nickel Mineralization Extensions – Main Zone, East Zone
Nickel Discovery
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)
|
(%)
|
(%)
|
CR20-32
|
390.0
|
633.0
|
243.0
|
0.25
|
0.013
|
0.003
|
0.003
|
0.02
|
6.10
|
including
|
438.0
|
633.0
|
195.0
|
0.27
|
0.013
|
0.003
|
0.003
|
0.02
|
5.80
|
including
|
576.0
|
633.0
|
57.0
|
0.30
|
0.013
|
0.003
|
0.003
|
0.01
|
5.88
|
|
|
|
|
|
|
|
|
|
|
CR20-33
|
119.8
|
434.4
|
314.6
|
0.25
|
0.013
|
0.018
|
0.008
|
0.04
|
6.70
|
including
|
190.6
|
422.4
|
231.8
|
0.28
|
0.013
|
0.022
|
0.010
|
0.04
|
6.26
|
including
|
272.4
|
362.4
|
90.0
|
0.32
|
0.013
|
0.053
|
0.020
|
0.06
|
5.82
|
including
|
324.9
|
362.4
|
37.5
|
0.37
|
0.015
|
0.122
|
0.044
|
0.10
|
6.05
|
including
|
332.4
|
335.4
|
3.0
|
0.42
|
0.014
|
1.160
|
0.035
|
0.12
|
5.72
|
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.
|
Figure 1a – Plan View of East Zone Nickel - Drilling Results
overlain on total field magnetic intensity, Crawford Nickel-Cobalt
Sulphide Project, Ontario.
Figure 1b – East Zone -
Cross-Section View - Drilling Results overlain on total field
magnetic intensity, Crawford Nickel-Cobalt Sulphide Project,
Ontario.
PGM Zone – East Zone Extension
Similar to the PGM Zones previously defined on the East Zone and
Main Zone nickel-palladium resource, hole CR20-33 intersected
2 zones of palladium-platinum mineralization located at the north
contact between the peridotite and pyroxenite layer directly to the
north of the nickel structure, returning 1.04 g/t palladium +
platinum (0.54 g/t Pd, 0.50 g/t Pt) over 3
m from 454 metres and 1.5 metres of 1.36 g/t palladium +
platinum (0.66 g/t Pd, 0.70 g/t Pt) over 1.5
m from 521 metres. See Figure 2 for location of the
PGM Zone.
Table 2 – PGM Zone – Drilling Results, Crawford Nickel-Cobalt
Sulphide Project, Ontario
DDH
ID
|
From
|
To
|
Length
|
Pd+Pt
|
Pd
|
Pt
|
Ni
|
Co
|
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
CR20-33
|
453.9
|
456.9
|
3.0
|
1.04
|
0.54
|
0.50
|
0.03
|
0.008
|
|
521.4
|
522.9
|
1.5
|
1.36
|
0.66
|
0.70
|
0.06
|
0.013
|
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.
|
Figure 2 – Plan view of PGM Zone - Recent drilling overlain
on total field magnetic intensity, Crawford Nickel-Cobalt Sulphide
Project, Ontario.
Table 3 – Drill Hole Orientation, Crawford Nickel-Cobalt
Sulphide Project, Ontario
DDH
ID
|
Easting
|
Northing
|
Dip
|
Azimuth
|
Length
|
|
(mE)
|
(mN)
|
(°)
|
(°)
|
(m)
|
CR20-32
|
472,725
|
5,410,500
|
-50
|
270
|
633
|
CR20-33
|
475,100
|
5,409,620
|
-50
|
360
|
545
|
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.
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.
Cautionary Statement Concerning Forward-Looking
Statements
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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SOURCE Canada Nickel Company Inc.