Highlights
- First four holes at Mann Northwest intersected multi-hundred
metre intervals of mineralized peridotite and dunite
- Long, shallow mineralized intervals reported at both Sothman
and Midlothian
-
- Midlothian returned 343 metres of 0.28% nickel starting at 2
metres
- Sothman returned 319 metres of 0.29% nickel starting at 15
metres in East Zone
- High-grade mineralization confirmed at Sothman within larger
mineralized intervals
-
- 1.28% nickel over core length of 5.3 metres from 58.7 metres,
within 192 metres of 0.31% nickel in West Zone
TORONTO, May 24, 2023
/CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the
"Company") (TSXV: CNC) (OTCQX: CNIKF) today released assay results
from its 100% owned Sothman Property located 70 kilometres south of
Timmins, Ontario, its optioned
Midlothian Property and initial drilling results from the first 4
holes at its optioned Mann Northwest property.
Mark Selby, CEO of Canada Nickel
commented "Our regional exploration program successfully continues
to deliver positive results, as we add Mann Northwest to the string
of successes at Reid, Deloro,
Sothman, Texmont and Midlothian. We are very encouraged by
the first assay results from Midlothian, which delivered above
average nickel grades of 0.28% across the entire core length and
our drilling at Sothman has confirmed the historical higher-grade
results within a much larger mineralized envelope in Sothman West
and a large bulk tonnage target at Sothman East. We look forward to
releasing our latest results from our Texmont property
shortly."
Mann Northwest
Property
The Mann property is located 22 kilometres east of Crawford and
45 kilometres northeast of Timmins. The property consists of at least
three main ultramafic targets like that at Crawford –Mann Northwest
with a target footprint of 6.0 km2, Mann Central with a
target footprint of 3.1 km2, and Mann Southeast with a
target footprint of 4.1 km2 - compared to Crawford
target footprint of 1.6 km2 (see Figure 1).
Drilling started in the Northwest zone, with the first four
drillholes intersecting very strongly serpentinized peridotite and
minor dunite. These first four holes delineated mineralization
along 800 metres of strike length and a width of at least 500
metres within a total target length of 10.4 kilometres. Mann
Northwest remains open in all directions. Mineralogy and assays are
pending. All four holes collared in dunite/peridotite with lesser
intersections of pyroxenite and some minor dykes (Figure 1). All
holes show strong serpentinization, and fine-grained mineralization
throughout.
Midlothian
Property
Canada Nickel has an option to acquire the Midlothian property
from Canadian Gold Miner. The property is located 70 kilometres
south-southeast of Timmins, 25
kilometres west of Matachewan and
is directly accessible by road.
Four drillholes were completed during the winter of 2023. Hole
MID23-01, which entered mineralized dunite after 2 metres of
overburden, intersected 0.28% nickel over 343 metres with the hole
ending in mineralized dunite (see Table 1 and Figure 2). The first
two holes (MID23-01 and MID23-02) were sent for QEMSCAN that showed
awaruite to be the dominant nickel-bearing mineral (April 13, 2023, release). Assays for the
remaining holes are pending.
Table 1: Midlothian drilling downhole composite
Hole ID
|
From
|
To
|
Length
|
Ni
|
Co
|
Pd
|
Pt
|
Cr
|
Fe
|
S
|
|
(m)
|
(m)
|
(m)
|
( %)
|
( %)
|
(g/t)
|
(g/t)
|
( %)
|
( %)
|
( %)
|
MID23-01
|
1.5
|
345.0
|
343.5
|
0.28
|
0.01
|
0.003
|
0.003
|
0.16
|
4.55
|
0.02
|
Sothman
Property
The Sothman property consists of 50 mining leases acquired from
Glencore Canada Corporation ("Glencore") in 2021 and totaling 1,000
hectares. Canada Nickel has a 100% interest in the patents subject
to certain royalty and offtake provisions with Glencore. The
property has a high-grade West Zone and a large tonnage, low-grade
East Zone, both road-accessible by an all-year road (Figure 3). A
power line corridor is located less than 6 kilometres east of the
property.
Sothman West
Zone
Drilling in the West Zone targeted high-grade nickel with ten of
eleven holes intersecting mineralization. The best intersections
(Table 2) occurred in SOT22-09 which encountered 1.28% nickel over
5.3 metres within 192.3 metres of 0.31% nickel and SOT22-08 which
encountered 0.99% nickel over 10.5 metres within 77.7 metres of
0.37% nickel.
The West Zone is mineralized along a strike length of
approximately 300 metres, a width of 100-120 metres and remains
open at depth. There is a shallow historical resource of
approximately 190,000 tons of 1.24% nickel1).
______________________
|
|
1The Sothman
historical resource estimate is unclassified and does not comply
with CIM Definition Standards on Mineral Resources and Mineral
Reserves as required by NI 43-101. The historical resource was
reported by D. R. Bell for Sothman Mines Limited on Oct. 1, 1969,
as 189,753 tons of 1.24% nickel using a 1.00% nickel cut-off. The
reliability of these historical resources is considered reasonable,
but a qualified person has not done sufficient work to classify the
historical resource estimate as a current mineral resource and the
Company is not treating the historical resource estimate as a
current resource.
|
|
Sothman East
Zone
Seven drillholes were drilled within the East Zone, a large,
highly serpentinized, ultramafic sill composed mostly of peridotite
and dunite and delineated mineralization across 1.6 kilometres
length and ranging in width between 160 and 300 metres open at
depth. The magnetic anomaly measures 2.2 kilometres along
strike.
All seven holes intersected mineralized peridotite and dunite
(see Table 3). SOT23-18 intersected 319.3 metres of mineralized
peridotite at 0.29% nickel starting at 15 metres downhole. Six of
the seven holes had mineralized intervals over 140 metres. SOT22-02
intersected 31.5 metres of 0.62 g/t Pt+Pd hosted in a
Pyroxenite-Peridotite transitional contact.
Table 2: Sothman drilling, Higher
Grade Nickel and PGM intersects of assays.
Hole ID
|
From
|
To
|
Length
|
Ni
|
Pt+Pd
|
Pd
|
Pt
|
Co
|
S
|
|
(m)
|
(m)
|
(m)
|
( %)
|
(g/t)
|
(g/t)
|
(g/t)
|
( %)
|
( %)
|
West
Zone
|
SOT22-06
|
42.5
|
53.5
|
11.0
|
0.55
|
0.149
|
0.102
|
0.047
|
0.02
|
1.37
|
SOT22-08
|
57.5
|
68.0
|
10.5
|
0.99
|
0.225
|
0.154
|
0.070
|
0.03
|
2.64
|
SOT22-09
|
58.7
|
64.0
|
5.3
|
1.28
|
0.406
|
0.297
|
0.109
|
0.03
|
3.11
|
SOT22-11
|
139.4
|
141.9
|
2.5
|
0.71
|
0.177
|
0.125
|
0.052
|
0.02
|
0.68
|
SOT23-13
|
30.5
|
41.0
|
10.5
|
0.87
|
0.243
|
0.173
|
0.070
|
0.02
|
2.73
|
SOT23-14
|
43.7
|
59.0
|
15.3
|
0.69
|
0.176
|
0.128
|
0.048
|
0.02
|
1.68
|
SOT23-15
|
141.5
|
183.5
|
42.0
|
0.42
|
0.084
|
0.054
|
0.030
|
0.01
|
0.15
|
SOT23-19
|
98.0
|
107.0
|
9.0
|
0.60
|
0.352
|
0.204
|
0.148
|
0.01
|
0.26
|
East
Zone
|
SOT22-02
|
107.0
|
138.5
|
31.5
|
0.15
|
0.626
|
0.368
|
0.258
|
0.01
|
0.04
|
Table 3: Sothman drilling downhole composites
Hole ID
|
From
|
To
|
Length
|
Ni
|
Co
|
Pd
|
Pt
|
Cr
|
Fe
|
S
|
|
(m)
|
(m)
|
(m)
|
( %)
|
( %)
|
(g/t)
|
(g/t)
|
( %)
|
( %)
|
( %)
|
WEST ZONE
|
SOT22-06
|
39.5
|
200.0
|
160.5
|
0.29
|
0.01
|
0.010
|
0.009
|
0.17
|
5.46
|
0.15
|
SOT22-07
|
64.1
|
251.0
|
186.9
|
0.27
|
0.01
|
0.005
|
0.006
|
0.15
|
5.04
|
0.06
|
SOT22-08
|
51.7
|
129.4
|
77.7
|
0.37
|
0.01
|
0.031
|
0.020
|
0.21
|
6.55
|
0.50
|
SOT22-09
|
58.7
|
251.0
|
192.3
|
0.31
|
0.01
|
0.011
|
0.011
|
0.16
|
5.44
|
0.14
|
SOT22-10
|
151.0
|
179.0
|
28.0
|
0.27
|
0.01
|
0.004
|
0.009
|
0.18
|
6.02
|
0.03
|
SOT22-11
|
139.4
|
251.0
|
111.6
|
0.29
|
0.01
|
0.012
|
0.013
|
0.14
|
5.43
|
0.05
|
SOT23-13
|
26.5
|
219.5
|
193.0
|
0.33
|
0.01
|
0.023
|
0.015
|
0.15
|
5.50
|
0.29
|
SOT23-14
|
43.7
|
266.0
|
222.3
|
0.33
|
0.01
|
0.030
|
0.016
|
0.15
|
5.75
|
0.21
|
SOT23-15
|
37.5
|
243.9
|
206.4
|
0.30
|
0.01
|
0.016
|
0.013
|
0.15
|
5.39
|
0.09
|
SOT23-16
|
89.0
|
239.0
|
150.0
|
0.27
|
0.01
|
0.005
|
0.008
|
0.14
|
5.56
|
0.06
|
SOT23-19
|
26.0
|
245.0
|
219.0
|
0.28
|
0.01
|
0.014
|
0.013
|
0.17
|
5.44
|
0.08
|
EAST ZONE
|
SOT22-01
|
39.7
|
234.7
|
195.0
|
0.26
|
0.01
|
0.003
|
0.003
|
0.22
|
5.43
|
0.03
|
SOT22-02
|
43.7
|
260.0
|
216.3
|
0.17
|
0.01
|
0.073
|
0.067
|
0.42
|
7.72
|
0.07
|
SOT22-03
|
39.5
|
184.9
|
145.4
|
0.25
|
0.01
|
0.003
|
0.005
|
0.16
|
5.62
|
0.02
|
SOT22-04
|
39.7
|
89.8
|
50.1
|
0.23
|
0.01
|
0.006
|
0.006
|
0.48
|
6.30
|
0.02
|
SOT22-05
|
38.0
|
353.0
|
315.0
|
0.26
|
0.01
|
0.003
|
0.004
|
0.20
|
5.42
|
0.01
|
SOT23-17
|
67.4
|
344.9
|
277.5
|
0.26
|
0.01
|
0.003
|
0.006
|
0.19
|
5.46
|
0.04
|
SOT23-18
|
14.7
|
334.0
|
319.3
|
0.29
|
0.01
|
0.003
|
0.005
|
0.16
|
5.17
|
0.04
|
Table 4: Drillhole Orientation
Hole
ID
|
Zone
|
Easting
(mE)
|
Northing
(mN)
|
Azimuth
(⁰)
|
Dip
(⁰)
|
Length
(m)
|
SOT22-01
|
Sothman
East
|
483862
|
5298973
|
10
|
-50
|
377
|
SOT22-02
|
Sothman
East
|
483863
|
5298985
|
195
|
-50
|
431
|
SOT22-03
|
Sothman
East
|
483490
|
5299040
|
10
|
-50
|
281
|
SOT22-04
|
Sothman
East
|
483495
|
5299055
|
190
|
-50
|
245
|
SOT22-05
|
Sothman
East
|
483119
|
5299264
|
190
|
-50
|
353
|
SOT22-06
|
Sothman
West
|
481748
|
5299478
|
183
|
-45
|
200
|
SOT22-07
|
Sothman
West
|
481748
|
5299479
|
183
|
-60
|
251
|
SOT22-08
|
Sothman
West
|
481748
|
5299478
|
150
|
-45
|
170
|
SOT22-09
|
Sothman
West
|
481706
|
5299498
|
180
|
-50
|
251
|
SOT22-10
|
Sothman
West
|
481706
|
5299498
|
180
|
-70
|
179
|
SOT22-11
|
Sothman
West
|
481653
|
5299561
|
180
|
-45
|
251
|
SOT22-12
|
Sothman
West
|
481653
|
5299561
|
180
|
-80
|
455
|
SOT23-13
|
Sothman
West
|
481585
|
5299520
|
180
|
-45
|
281
|
SOT23-14
|
Sothman
West
|
481585
|
5299520
|
180
|
-62
|
266
|
SOT23-15
|
Sothman
West
|
481535
|
5299516
|
180
|
-50
|
287
|
SOT23-16
|
Sothman
West
|
481506
|
5299542
|
180
|
-60
|
239
|
SOT23-17
|
Sothman
East
|
482675
|
5299095
|
10
|
-50
|
381
|
SOT23-18
|
Sothman
East
|
482320
|
5299160
|
10
|
-50
|
345
|
SOT23-19
|
Sothman
West
|
481613
|
5299398
|
25
|
-78
|
245
|
MID23-01
|
Midlothian
|
499710
|
5303026
|
180
|
-50
|
345
|
MID23-02
|
Midlothian
|
499299
|
5303052
|
180
|
-50
|
401
|
MID23-03
|
Midlothian
|
498902
|
5303053
|
180
|
-50
|
401
|
MID23-04
|
Midlothian
|
500915
|
5303042
|
180
|
-50
|
401
|
MAN23-01
|
Mann
NW
|
495641
|
5412486
|
235
|
-50
|
432
|
MAN23-02
|
Mann
NW
|
495967
|
5412226
|
235
|
-50
|
402
|
MAN23-03
|
Mann
NW
|
495967
|
5412226
|
35
|
-50
|
402
|
MAN23-04
|
Mann
NW
|
496257
|
5411972
|
235
|
-50
|
402
|
Assays, Quality Assurance/Quality Control and Drilling and
Assay
Edwin Escarraga, MSc, P.Geo., a
"qualified person" as defined by National Instrument 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. One set of samples
is transported in secured bags directly from the Canada Nickel core
shack to Actlabs Timmins, while a second set of samples is securely
shipped to SGS Lakefield for preparation, with analysis performed
at SGS Burnaby or SGS Callao (Peru). All 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 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 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.
The magnetic images shown in this press release were
created from Canada Nickel's interpretation of datasets provided by
the Ontario Geological Survey.
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 Nickel™, NetZero Cobalt™, NetZero
Iron™ 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
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, exploration results and development of processes
to allow the production of net zero carbon nickel, the carbon
capture approach could allow production of Net Zero nickel and
generation of an additional tonnes of CO2 credits per tonne of
nickel produced after offsetting all emissions, the potential to
turn nickel mine into a generator of carbon credits rather than
generator of carbon emissions, the production of estimated average
of 710,000 tonnes of carbon credits annually and 18 million total
tonnes of CO2 of credits over expected life of mine at Crawford,
the ability to monetize carbon credits, the ability to quantify
carbon capture, emission estimates, the brucite content of the
deposit, the scalability of the process, the metallurgical results,
the timing and results of the feasibility study including the
viability of the inclusion of the IPT Carbonation Process and
related facilities as part of the project, the results of
Crawford's PEA, including statements relating to net present value,
future production, estimates of cash cost, proposed mining plans
and methods, mine life estimates, cash flow forecasts, metal
recoveries, estimates of capital and operating costs, timing for
permitting and environmental assessments, realization of mineral
resource estimates, capital and operating cost estimates, project
and life of mine estimates, ability to obtain permitting by the
time targeted, size and ranking of project upon achieving
production, 5 economic return estimates, the timing and amount of
estimated future production and capital, operating and exploration
expenditures and potential upside and alternatives. Readers should
not place undue reliance on forwardlooking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Canada Nickel to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. There are
no assurances that Crawford will be placed into production. Factors
that could affect the outcome include, among others: the actual
results of development activities; project delays; inability to
raise the funds necessary to complete development; general
business, economic, competitive, political and social
uncertainties; future prices of metals or project costs could
differ substantially and make any commercialization uneconomic;
availability of alternative nickel sources or substitutes; actual
nickel recovery; conclusions of economic evaluations; changes in
applicable laws; changes in project parameters as plans continue to
be refined; accidents, labour disputes, the availability and
productivity of skilled labour and other risks of the mining
industry; political instability, terrorism, insurrection or war;
delays in obtaining governmental approvals, necessary permitting or
in the completion of development or construction activities;
mineral resource estimates relating to Crawford could prove to be
inaccurate for any reason whatsoever; additional but currently
unforeseen work may be required to advance to the feasibility
stage; and even if Crawford goes into production, there is no
assurance that operations will be profitable. Although Canada
Nickel has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. Forward-looking statements
contained herein are made as of the date of this news release and
Canada Nickel disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
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
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SOURCE Canada Nickel Company Inc.