Highlights
- Infill drilling identified an extensive Higher-Grade Core in the East Zone, similar to
the Main Zone.
- The higher grade cores span combined strike length of 1.6
kilometres, a width of 20 to 50 metres, to a depth of 690
metres.
- Drilling in the East Zone has successfully infilled and
extended strike length to a total of 2.1 kilometres, substantially
larger than previously reported resource.
- Hole 142A averaged 0.31% Ni across its entire 576 metre core
length, ending in mineralization. Hole 165A (assays pending) was
mineralized across its entire 690 metre core length, ending in
higher grade mineralization at 735 metres. Five other holes
recently completed intersected drill intervals of up to 216.6
metres of higher grade mineralization.
- Samples from East Zone Higher Grade Core yielded the highest
grade concentrate from Crawford during metallurgical work reported
for the previously released Preliminary Economic Assessment with
43% of the recovered nickel reporting to a 55% nickel concentrate.
TORONTO, Oct. 26, 2021 /CNW/ - Canada Nickel Company
Inc. ("Canada Nickel" or the "Company")
(TSXV: CNC) (OTCQX: CNIKF) today announced the results from the
infill drilling program at its Crawford Nickel-Sulphide Project
("Crawford" or the "Project"), which included the discovery of a
higher-grade core in the East Zone. The East Zone has now been
successfully tested for 2.1 km of its overall 3.2 km interpreted
strike length.
Mark Selby, Chair and Chief
Executive Officer commented, "The East Zone is becoming a
significant resource. The most recent infill and expansion drilling
at the Crawford East Zone continues to confirm our target of
increasing the East Zone resource by 2-3x and the identification of
an extensive Higher Grade Core, similar to the Main Zone, has been
an exciting development. This East Zone core has yielded
intervals of both high-grade nickel and PGMs and the latest two
holes (CR21-142A, CR21-165A), which were drilled to test this
higher-grade mineralization at depth, remained in higher grade
mineralization to the end of each hole at 624 and 735 metres deep
respectively – more than 100 metres below the current
resource. I look forward to the resource update on the Main,
East, and North zones next year to support the feasibility study
expected to be delivered later in
2022."
Crawford East Zone
In the East Zone, an additional 6 holes have assays reported, a
further 22 holes have been drilled with assays pending. Infill
drilling is expected to continue for the balance of the current
year to contribute to the resource update next year that will
support the feasibility study. Infill drilling, deeper drilling,
and drilling beyond the resource outline along strike have all
demonstrated continuity for a distance of 2.1 kilometres.
The Higher Grade Core was identified during a drill program
intended to expand the current resource and was present in previous
holes (CR20-28, CR19-31, CR20-33, CR20-34, CR20-35, CR20-36,
CR20-37, CR20-39, CR21-112) but was thought to be discontinuous.
Additional drilling is consistent with the Company's belief that
this core is more continuous and centered along the East Zone, much
like the higher-grade core of the Main Zone. See Figures 1 and 2 below. This Higher-Grade Core remains open at depth and
along strike.
Figure 1 – Plan View of East Zone Nickel - Drilling Results
overlain on total field magnetic intensity, Crawford
Nickel-Cobalt Sulphide Project, Ontario
The western portion of the higher grade core extends for 0.9
kilometres, extends from surface in some places to a depth of 730
metres (see Figure 1 above, and Figure 2 below for views of this
structure).
The eastern portion of the higher grade core extends for 0.7
kilometres, extends from surface in some places to a depth of 280
metres, with more planned drillholes targeting depth extension (see
Figure 1 above, and Figure 2 below for views of this
structure).
Crawford East Zone Metallurgical Work
Sample EZ-33-V15, from hole CR20-33 from 327 to 349 metres
(which is now part of the East Zone Higher Grade Core) and averaged
0.36% nickel, 0.08% sulphur, 0.201 g/t palladium, and 0.047 g/t
platinum yielded the highest-grade concentrate produced during the
PEA testwork program with 43% of the recoverable nickel in final
concentrates reporting to a high grade nickel concentrate grading
55% nickel.
Figure 2 – East Zone Higher Grade Core (Section A, B, C, D,
E, F)
Table 1a: East Zone Infill Drilling Results, Crawford
Nickel Sulphide Project, Ontario.
|
|
|
|
|
|
|
|
|
|
|
|
BHID
|
From
|
To
|
Length
|
Estimated
True
Width
|
Ni
|
Co
|
Pd
|
Pt
|
Cr
|
Fe
|
S
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(%)
|
CR21-114A
|
26.0
|
494.0
|
468.0
|
197.8
|
0.21%
|
0.011
|
0.008
|
0.005
|
0.61
|
5.75
|
0.02
|
Including
|
26.0
|
354.0
|
328.0
|
164.0
|
0.25%
|
0.012
|
0.009
|
0.005
|
0.69
|
5.76
|
0.02
|
CR21-116
|
26.3
|
510.0
|
483.7
|
277.4
|
0.24%
|
0.012
|
0.003
|
0.005
|
0.62
|
5.61
|
0.03
|
Including
|
63.0
|
168.0
|
105.0
|
60.2
|
0.26%
|
0.011
|
0.003
|
0.006
|
0.65
|
5.29
|
0.03
|
CR21-121
|
12.0
|
507.0
|
495.0
|
209.2
|
0.21%
|
0.012
|
0.007
|
0.006
|
0.58
|
5.97
|
0.01
|
Including
|
265.5
|
394.5
|
129.0
|
54.5
|
0.26%
|
0.012
|
0.005
|
0.005
|
0.67
|
5.32
|
0.01
|
CR21-134A
|
90.0
|
319.5
|
229.5
|
114.8
|
0.22%
|
0.012
|
0.006
|
0.008
|
0.60
|
6.57
|
0.03
|
Including
|
195.0
|
249.0
|
54.0
|
22.8
|
0.28%
|
0.013
|
0.012
|
0.017
|
0.65
|
6.06
|
0.03
|
CR21-142A
|
47.5
|
624.0
|
576.5
|
10.1
|
0.32%
|
0.017
|
0.017
|
0.010
|
0.67
|
5.72
|
0.12
|
Including
|
441.0
|
582.6
|
141.6
|
9.9
|
0.37%
|
0.022
|
0.055
|
0.011
|
0.75
|
6.13
|
0.38
|
Including
|
472.5
|
490.5
|
18.0
|
3.6
|
0.43%
|
0.015
|
0.040
|
0.014
|
0.83
|
5.57
|
0.30
|
Including
|
530.1
|
543.6
|
13.5
|
2.3
|
0.43%
|
0.019
|
0.053
|
0.017
|
0.62
|
6.88
|
0.72
|
CR21-146
|
44.7
|
525.0
|
480.3
|
275.5
|
0.27%
|
0.013
|
0.009
|
0.007
|
0.61
|
5.75
|
0.05
|
Including
|
132
|
172.5
|
40.5
|
18.1
|
0.32%
|
0.014
|
0.065
|
0.035
|
0.68
|
6.45
|
0.12
|
Including
|
159
|
169.5
|
10.5
|
6.9
|
0.44%
|
0.016
|
0.155
|
0.080
|
0.78
|
6.20
|
0.15
|
Table 1b: East Zone – Completed
Holes (Assays Pending) – Higher Grade Mineralization Intersections,
Crawford Nickel Sulphide Project, Ontario.
|
|
|
|
|
BHID
|
From
|
To
|
Length
|
Estimated
True
Width
|
|
(m)
|
(m)
|
(m)
|
(m)
|
CR21-138
|
261.0
|
309.0
|
48.0
|
19.5
|
CR21-149
|
256.0
|
412.0
|
156.0
|
8.2
|
CR21-153
|
410.0
|
597.0
|
187.0
|
6.5
|
CR21-156
|
437.0
|
575.0
|
138.0
|
2.4
|
CR21-161A
|
239.0
|
432.0
|
193.0
|
13.2
|
CR21-165A
|
468.0
|
735.0
|
267.0
|
21.1
|
Table 1c: Previously Reported Drill Holes (Higher Grade Core
intervals)
|
|
|
|
|
|
|
|
|
|
|
|
BHID
|
From
|
To
|
Length
|
True
Width
|
Ni
|
Co
|
Pd
|
Pt
|
Cr
|
Fe
|
S
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(%)
|
(%)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(%)
|
CR19-28
|
406.5
|
520.5
|
114.0
|
54.5
|
0.35%
|
0.01
|
0.07
|
0.04
|
0.72
|
5.81
|
0.12
|
including
|
406.5
|
462.0
|
55.5
|
34.0
|
0.41%
|
0.01
|
0.13
|
0.07
|
0.69
|
6.01
|
0.21
|
CR19-31
|
304.5
|
333.0
|
28.5
|
23.1
|
0.31%
|
0.01
|
0.02
|
0.01
|
0.73
|
6.07
|
0.04
|
CR20-33
|
279.9
|
296.4
|
16.5
|
9.1
|
0.30%
|
0.01
|
0.01
|
0.00
|
0.59
|
5.66
|
0.04
|
and
|
315.9
|
362.4
|
46.5
|
34.9
|
0.35%
|
0.01
|
0.10
|
0.04
|
0.75
|
5.97
|
0.09
|
CR20-34
|
348.0
|
387.0
|
39.0
|
38.7
|
0.36%
|
0.01
|
0.19
|
0.07
|
0.69
|
6.04
|
0.09
|
including
|
349.5
|
381.0
|
31.5
|
9.8
|
0.37%
|
0.01
|
0.23
|
0.08
|
0.69
|
5.94
|
0.09
|
including
|
349.5
|
361.5
|
12.0
|
3.9
|
0.42%
|
0.01
|
0.46
|
0.17
|
0.77
|
611.0
|
0.08
|
CR20-35
|
55.5
|
78.0
|
22.5
|
8.6
|
0.30%
|
0.01
|
0.00
|
0.00
|
0.63
|
5.43
|
0.03
|
CR20-36
|
208.5
|
247.5
|
39.0
|
31.1
|
0.31%
|
0.01
|
0.02
|
0.01
|
0.69
|
6.41
|
0.12
|
CR20-37
|
163.5
|
208.5
|
45.0
|
34.8
|
0.30%
|
0.01
|
0.01
|
0.01
|
0.71
|
5.79
|
0.06
|
CR20-39
|
36.0
|
79.5
|
43.5
|
17.0
|
0.30%
|
0.01
|
0.01
|
0.01
|
0.75
|
5.77
|
0.04
|
CR21-112
|
52.5
|
99.0
|
46.5
|
17.9
|
0.30%
|
0.01
|
0.00
|
0.00
|
0.70
|
5.71
|
0.05
|
Table 2: Drill Hole Orientation
The table below lists drill locations for the results of the
drill holes outlined in this news release, the holes currently in
the assay lab and those in progress.
New
Holes
|
|
|
|
|
|
|
BHID
|
Target
|
Northing
|
Easting
|
Azimuth
|
Dip
|
Length
(m)
|
CR20-38
|
East Zone
|
5409893
|
473900
|
360
|
-50
|
327
|
CR20-40
|
East Zone
|
5409995
|
473597
|
180
|
-50
|
378
|
CR20-41
|
East Zone
|
5409800
|
473499
|
360
|
-50
|
417
|
CR21-108
|
East Zone
|
5409721
|
475304
|
360
|
-50
|
501
|
CR21-111A
|
East Zone
|
5409997
|
473402
|
180
|
-50
|
444
|
CR21-114A
|
East Zone
|
5409888
|
475001
|
180
|
-60
|
464
|
CR21-116
|
East Zone
|
5409997
|
473999
|
180
|
-50
|
509
|
CR21-118
|
East Zone
|
5409961
|
474795
|
180
|
-60
|
504
|
CR21-119
|
East Zone
|
5409995
|
474299
|
180
|
-60
|
476
|
CR21-121
|
East Zone
|
5409977
|
474704
|
180
|
-60
|
507
|
CR21-123
|
East Zone
|
5409983
|
474503
|
180
|
-60
|
507
|
CR21-140
|
East Zone
|
5409778
|
473361
|
245
|
-60
|
267
|
Higher Grade
Core
|
|
|
|
|
|
BHID
|
Target
|
Northing
|
Easting
|
Azimuth
|
Dip
|
Length
(m)
|
CR19-28
|
East Zone
|
5410172
|
473700
|
180
|
-50
|
573
|
CR19-31
|
East Zone
|
5409610
|
474905
|
360
|
-50
|
552
|
CR20-33
|
East Zone
|
5409623
|
475101
|
360
|
-50
|
549
|
CR20-34
|
East Zone
|
5409671
|
473703
|
360
|
-50
|
630
|
CR20-35
|
East Zone
|
5409903
|
473701
|
360
|
-82
|
390
|
CR20-36
|
East Zone
|
5409799
|
474103
|
360
|
-50
|
483
|
CR20-37
|
East Zone
|
5409728
|
474903
|
360
|
-50
|
492
|
CR20-39
|
East Zone
|
5410004
|
473801
|
180
|
-50
|
522
|
CR21-112
|
East Zone
|
5409892
|
475198
|
180
|
-60
|
435
|
CR21-134A
|
East Zone
|
5409800
|
473799
|
5
|
-60
|
351
|
CR21-138
|
East Zone
|
5409775
|
473355
|
360
|
-60
|
420
|
CR21-142A
|
East Zone
|
5409895
|
473549
|
178
|
-86
|
624
|
CR21-146
|
East Zone
|
5410035
|
473290
|
180
|
-50
|
525
|
CR21-149
|
East Zone
|
5409887
|
473854
|
178
|
-87
|
474
|
CR21-153
|
East Zone
|
5409805
|
473763
|
360
|
-86
|
669
|
CR21-156
|
East Zone
|
5409813
|
473665
|
0
|
-86
|
658
|
CR21-161A
|
East Zone
|
5409975
|
473928
|
180
|
-76
|
432
|
CR21-165A
|
East Zone
|
5409897
|
473801
|
175
|
-84
|
734
|
|
|
|
|
|
|
|
|
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Assays, Quality Assurance/Quality Control and Drilling and
Assay
Edwin Escarraga, 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. A set of Samples are transported in secured bags
directly from the Canada Nickel core shack to Actlabs Timmins, the
other set of samples are securely shipped to SGS Burnaby. Both are
ISO/IEC 17025 accredited labs. 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 3 QA/QC samples per 20 core
samples making a batch of 60 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.
Issuance of Shares
The Company also announced today that it has agreed to issue
30,000 common shares to an unrelated third party in satisfaction of
certain finder's fees payable to such third party in connection the
private placements completed by the Company in October 2020. Such shares will be subject to a
four month hold period under applicable securities rules expiring
on February 26, 2022.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of
nickel-sulphide projects to deliver nickel 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 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.
For further information, please contact:
Mark Selby, Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com
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 Sulphide Project, the potential of the Crawford Nickel
Sulphide Project, timing of economic studies and mineral resource
estimates, the ability to sell marketable materials, 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,
failure to obtain regulatory or shareholder approvals, and
the impact of COVID-19 related disruptions in relation to the
Company's business operations including upon its employees,
suppliers, facilities and other stakeholders. 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.