Junior Explorer Identifies Multiple Nickel Targets on Rec... Junior Explorer Identifies Multiple Nickel Targets on Recently Acquired Option Properties
The latest drill results are in. And a Northern Ontario nickel-cobalt sulphide project could be sitting atop a “monster nickel deposit.”
Canada Nickel Company Inc. (CNC) (TSX-V.CNC, Forum) – a nickel and cobalt-focused exploration company with high potential assets in a mature, mining-friendly jurisdiction – has recently announced that its team has identified seven separate nickel-bearing target structures with more than 30 kilometres of total strike length, ranging from 150 to 600 metres wide at its Crawford Nickel-Cobalt Sulphide PGM Project.
Company CEO Mark Selby believes the 4,900-hectare property, 40 kilometres north of Timmins ON, has the potential to be a world-class, district-scale deposit. He recently told Northern Ontario Business, “We are just scratching the surface” in realizing the “large-scale potential” of the property.
In just six months, the Crawford Nickel-Cobalt-Palladium project has already become one of the 12 largest nickel sulphide resources globally. Located in one of Canada’s most historic and prolifically producing mining regions, the Crawford project lies in the heart of the mineral-rich Timmins-Cochrane mining camp. As detailed in its March 4th news release, Canada Nickel acquired the Crawford Annex property and the option to earn up to an 80% interest in five additional nickel targets within the Project 81 land package.
In June, the Toronto-based explorer and mine developer commenced a preliminary economic assessment (PEA) of Crawford, due out by year’s end, and then plans to proceed to a feasibility study and complete that by the end of 2021.
Recent drill results have demonstrated higher-grade at-surface results, including some high-grade by-products, including a Platinum Group Metals (PGM) find of 1.0 g/t PGM over 2 metres from 96 metres within 0.3 g/t PGM over 30 metres from 69 metres in historic hole KML-12-11 (2012), 0.8 g/t PGM over 5 metres from 523 metres within 0.5 g/t PGM over 24 metres in historic hole KML-12-07 (2012).
In a recent Q&A interview with Stockhouse Editorial, the CEO explained the significant potential for high-grade strikes at the Crawford Nickel-Cobalt-Palladium project and showed a little bit of clairvoyance predicting Monday’s announcement the Company’s outstanding results:
“We are encouraged by the results of our active drilling program, which expanded our nickel-cobalt zones, as well as led to the discovery of multiple platinum-palladium zones.
In June 2020, we announced outstanding results from the first hole in our infill drilling program, which yielded 306 metres of 0.42% nickel and 0.017% cobalt and 0.05 g/t PGMs. Across the entire core length, grades are nearly one-third higher than our average high grade core resource of 0.31% nickel.
Overall a higher grade core of 96Mt of 0.34% Ni including 28Mt at 0.38% was defined within resource. This remains open in multiple directions. This core was previously defined as part of the resource estimate we announced back in February 2020, and dips steeply within the ultramafic unit with a true thickness that varies from 40 to 160 metres. We have drilled 14 holes so far as part of the current infill drilling and assays are pending on a number of them, which we expect to release over the next few months.
This is a fantastic preliminary result that adds further confidence to our belief that Crawford has the potential to be a new world-class Nickel Cobalt Sulphide deposit.”