Highlights
- Hole CR20-32 extended the PGM zone by 1.5 km along strike and
intersected 3 separate palladium-platinum zones including the most
promising palladium-platinum intersection to date – 2.6 g/t
palladium + platinum (1.3 g/t Pd, 1.3 g/t Pt) over 7.5 metres
within 1.8 g/t (0.9 g/t Pd, 0.9 g/t Pt) over 12 metres at 123
metres downhole. Assays for target nickel zone for this hole are
pending.
- Second nickel discovery – East Zone. Assays from hole CR19-28
yielded the highest grade nickel interval to date – 55 metres of
0.42% nickel and 0.2 g/t palladium + platinum (0.13 g/t Pd, 0.07
g/t Pt) within 256 metres of 0.30% nickel and 0.05 g/t palladium +
platinum (0.03 /t Pd, 0.02 g/t Pt). The first two holes (CR19-28
and CR19-31) intersected nickel mineralization in excess of 300
metres wide, confirmed that the East Zone is a faulted continuation
of the Main Zone, and doubled the strike length of total nickel
mineralization by 1.7 km to 3.4 km. Both holes also confirmed the
presence of the PGM Zone adjacent to the East Zone nickel
mineralization - hole CR19-28 intersecting 1.7 g/t palladium +
platinum (0.8 g/t Pd, 0.9 g/t Pt) over 4.5 metres from 180 metres
and hole CR 19-31 intersecting 1.6 g/t (0.7 g/t Pd, 0.9 g/t Pt)
over 3.0 metres from 525 metres.
TORONTO, May 19, 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 project, including the first two discovery holes on
the East Zone, and partial assays from a third hole which is a 1.5
km extension to the PGM Zone on the Main Zone. The new East
Zone discovery has only been tested for 1.7 km of its overall 2.6
km interpreted strike length and the original Main Zone remains
open to the west and at depth.
Mark Selby, Chair and CEO of
Canada Nickel commented "We are very pleased with both the new
nickel and multi-zone palladium-platinum discoveries from our first
step-out holes at Crawford. These new holes have also yielded
both the most promising palladium + platinum (2.6 g/t across
7.5 m) intersection and highest grade
nickel zone intersections to date (0.42% nickel + 0.2 g/t palladium
+ platinum across 55 m). With
more than 1.5 km extensions to both the PGM Zone and Nickel Zones
and assays pending from another 9 holes which have the potential to
further extend the mineralization identified to date, we look
forward to continued success as we unlock more targets at our
original Crawford property. With the additional properties in the
process of being acquired from Noble, we have added a number of
nearby targets which we will begin exploring later in the year
initially utilizing geophysics to determine the highest priority
(based on potential for higher grade mineralization) targets."
Mr. Selby continued "We continue to be encouraged by the results
of our drilling program and are committed to establishing Crawford
as one of the leading next generation nickel-cobalt sulphide and
palladium projects. I extend my sincere thanks to our exploration
team for their hard work and the ongoing support we've received
from our local contractors including our drilling company NPLH. Our
top priority is the safety and wellbeing of our people especially
during these challenging times."
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.
New Nickel Discovery – East Zone
The first two holes of this next phase of exploration drilling
(CR19-28 and CR19-31) were drilled along the East Zone, doubling
the known total extent of nickel mineralization by 1.7 km to a
total of 3.4 km. Both holes intersected large widths of
nickel mineralization of 321 metres and 382 metres respectively,
with hole CR19-28 ending in mineralization at 573 m. Hole CR19-28 yielded the highest
grade nickel interval to date – 55 m
of 0.42% nickel and 0.2 g/t palladium + platinum within
256 m of 0.30% nickel and 0.05 g/t
palladium + platinum within a total of 0.27% nickel across
321 m. A further 9 holes have
been drilled on the East Zone which have assays pending.
See Figures 1a, 1b and Table 1 for drilling results.
Similar to the PGM Zone on the Main Zone nickel-palladium
resource, both holes intersected palladium-platinum mineralization
located at the north contact between the peridotite and pyroxenite
layer directly to the north of the main nickel structure.
Hole CR19-28 intersected 1.7 g/t (0.8 g/t Pd, 0.9 g/t Pt) over
4.5 m from 180
m and hole CR19-31 intersected 1.6 g/t (0.7 g/t Pd, 0.8 g/t
Pt) over 3.0 m from 525 m. See Figure 2 for location of the PGM
Zone.
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)
|
(%)
|
(%)
|
|
|
|
|
|
|
|
|
|
|
CR19-28
|
252.0
|
573.0
|
321.0
|
0.27
|
0.013
|
0.028
|
0.017
|
0.07
|
6.10
|
including
|
316.5
|
573.0
|
256.5
|
0.30
|
0.013
|
0.032
|
0.018
|
0.08
|
5.77
|
including
|
406.5
|
462.0
|
55.5
|
0.42
|
0.014
|
0.131
|
0.071
|
0.21
|
6.01
|
|
|
|
|
|
|
|
|
|
|
CR19-31
|
115.5
|
498.0
|
382.5
|
0.21
|
0.013
|
0.01
|
0.00
|
0.02
|
6.89
|
including
|
226.5
|
387.0
|
160.5
|
0.26
|
0.013
|
0.01
|
0.00
|
0.02
|
6.13
|
including
|
304.5
|
333.0
|
28.5
|
0.31
|
0.013
|
0.02
|
0.01
|
0.04
|
6.07
|
|
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.
|
PGM Zone – Main Zone Extension
The third hole (CR20-32 - only partial assay results were
available) was positioned at the northeastern end of the Main Zone,
approximately 1.5 km from the nearest previous hole and intersected
three separate palladium-platinum zones including the most
promising palladium-platinum results to date: 2.6 g/t palladium +
platinum (1.3 g/t Pd, 1.3 g/t Pt) over 7.5
m within 1.8 g/t (0.9 g/t Pd, 0.9 g/t Pt) over 12 m from 123 metres. See Figure 2 and Table 2
for summary of the PGM results. Each of the intersections was
at a peridotite-pyroxenite boundary which has now been intersected
multiple times.
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)
|
(%)
|
(%)
|
|
|
|
|
|
|
|
|
|
CR19-28
|
34.5
|
42.0
|
7.5
|
0.4
|
0.1
|
0.2
|
0.05
|
0.006
|
CR19-28
|
180.0
|
184.5
|
4.5
|
1.7
|
0.8
|
0.9
|
0.03
|
0.009
|
|
|
|
|
|
|
|
|
|
CR19-31
|
520.5
|
528.0
|
7.5
|
0.8
|
0.4
|
0.4
|
0.04
|
0.011
|
including
|
525.0
|
528.0
|
3.0
|
1.6
|
0.7
|
0.9
|
0.03
|
0.009
|
|
|
|
|
|
|
|
|
|
CR20-32
|
123.0
|
135.0
|
12.0
|
1.8
|
0.9
|
0.9
|
0.02
|
0.007
|
including
|
123.0
|
130.5
|
7.5
|
2.6
|
1.3
|
1.3
|
0.02
|
0.007
|
|
242.0
|
245.0
|
3.0
|
1.9
|
0.9
|
1.0
|
0.03
|
0.008
|
|
277.5
|
289.5
|
12.0
|
1.0
|
0.5
|
0.5
|
0.03
|
0.008
|
|
280.5
|
286.5
|
6.0
|
1.6
|
0.9
|
0.8
|
0.02
|
0.008
|
|
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.
|
Table 3 – Drill Hole Orientation, Crawford Nickel-Cobalt
Sulphide Project, Ontario
DDH
ID
|
Dip
|
Azimuth
|
|
(°)
|
(°)
|
|
|
|
CR19-28
|
-48.0
|
184.0
|
|
|
|
CR19-31
|
-50.0
|
360.0
|
|
|
|
CR20-32
|
-50.0
|
270.0
|
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/canada-nickel-company-announces-discovery-of-multiple-palladium-platinum-zones-extends-pgm-zone-by-1-5-km-and-second-nickel-discovery-doubles-total-nickel-mineralization-along-strike-by-1-7-km-to-3-4-km-at-crawford-nickel-cobalt-301062175.html
SOURCE Canada Nickel Company Inc.