It's been a month since this NR.... results? Surely they will not do a placement before releasing results that would expand the size of Crawford?
Canada Nickel awaits MacDiarmid drill results
2021-05-18 08:58 NT - News Release
Mr. Mark Selby reports
CANADA NICKEL ANNOUNCES DISCOVERY AT MACDIARMID NICKEL PROJECT
Canada Nickel Company Inc. has provided preliminary results from the start of its drill program at the MacDiarmid nickel project located 23 kilometres southwest of the company's initial Crawford discovery. Assays are pending on all holes.
Canada Nickel announces discovery at MacDiarmid nickel project
Mark Selby, chair and chief executive officer, said: "We are very pleased to have made a second discovery following our initial success in Crawford township. The first three holes drilled at MacDiarmid returned significant intersections of mineralized dunite similar to the average mineralization we initially discovered at Crawford. The results of our preliminary economic assessment for Crawford will now be released on May 25 with a conference call to be held the following morning at 10 a.m. EDT May 26."
Steve Balch, vice-president of exploration, said: "These results confirm the success of our geophysical targeting approach by successfully drilling our first new target identified on our option properties. We look forward to drilling the other targets identified across our four additional nickel properties, and our recently added sixth target at Bradburn/Dargavel."
The MacDiarmid project is located 15 kilometres west of the world-class Kidd Creek mine and 23 kilometres southwest of the company's initial discoveries in Crawford township. 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.
MacDiarmid nickel project
The MacDiarmid ultramafic intrusion (MUI) is approximately three kilometres long and 150 to 600 metres wide with the primary target a set of coincident geophysical anomalies of 1.8 kilometres long and up to 400 metres wide. Three holes were collared on the eastern side of the intrusion spaced 200 metres apart and were designed to intersect dunite-peridotite at right angles to the strike direction of the MUI. Mineralization has been defined across a strike length of 400 metres to a maximum depth of 360 metres and widths of 150 to 200 metres. All holes were drilled to the south (205-degree azimuth) at minus-50-degree inclination.
MAC21-01 was drilled to a depth of 411 metres and intersected primarily dunite-peridotite beginning at 26 metres, including an interval of primarily dunite (156-metre true thickness) beginning at 99 metres.
MAC21-02 was collared 200 metres west of MAC21-01 into peridotite at 36 metres and drilled to a depth of 424 metres, intersecting primarily dunite-peridotite (187-metre true thickness).
MAC21-03 was collared 200 metres east of MAC21-01 close to the eastern margin of the intrusion and intersected dunite to a depth of 336 metres (199-metre true thickness) beginning at 29 metres.
All holes encountered minor (three to 15 metres thick) felsic to intermediate dikes.
Qualified person and data verification
Stephen J. Balch, PGeo (Ontario), VP of 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.
Conference call details for discussion of Crawford's preliminary economic assessment
Canada Nickel is hosting a live question-and-answer conference call on May 26, 2021, at 10 a.m. EDT. Participants may join the call as follows:
- Dialling local Toronto: 1-416-764-8688;
- Dialling North American toll-free: 1-888-390-0546;
- Dialling international toll-free: available upon request;
- Confirmation No.: 10317274.
A playback version will be available for one month after the call at 1-416-764-8677 (local or international) or North American toll-free at 1-888-390-0541 (passcode 317274 (pound sign)).
About Canada Nickel Company Inc.
Canada Nickel 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 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 and cobalt in low-political-risk jurisdictions. Canada Nickel is currently anchored by its 100-per-cent-owned flagship Crawford nickel-cobalt sulphide project in the heart of the prolific Timmins-Cochrane mining camp.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.