Skip to content
Northern Ontario Business
Home Industry News Mining
Reid deposit looks encouraging for Canada Nickel
Second deposit may be largest yet for Timmins nickel mine developer
Northern Ontario Business Staff
5 h
Share via Text Message
Canada Nickel core rack
Canada Nickel photo
Listen to this article
00:01:55
Canada Nickel has published a first-ever mineral resource for its Reid nickel sulphide deposit, northwest of Timmins.
The company has high hopes that Reid will be twice the size of its flagship Crawford mine project, 16 kilometres away to the northeast.
And like Crawford, Reid is shaping to be another low grade, high tonnage deposit.
The indicated resources total 0.59 billion tonnes grading 0.24 per cent nickel, for a total of 1.4 million tonnes of contained nickel and inferred resources total 0.99 billion tonnes grading 0.23 per cent nickel, for a combined total of 2.2 million tonnes of contained nickel.
There’s also cobalt, iron, chromium, palladium and platinum in the mix.
In a Dec. 23 news release, the estimate covers 55 per cent of the total target area for Reid. The company believes the deposit has the potential to get bigger with between one to two billion tonnes still out to be drilled off.
Canada Nickel has a stable of other exploration properties in northeastern Ontario and expects to announce maiden resource estimates on five of them over the next few months.
"The size and scale of the Reid resource, which is significantly larger than the initial Crawford resource, validates our belief in the potential of the Timmins Nickel District,” said Mark Selby, company CEO, in a statement.
“Reid's target footprint is more than twice the size of our initial Crawford project and is only the second of seven new mineral resources we expect to announce by mid-2025. We look forward to continuing to demonstrate the potential of this world class district."
Reid will get more attention in 2025 with another round of drilling as the company has cut an all-season access road into the site.
See a typo/mistake?
Have a story/tip?
Share via Text Message
Get your free Northern Ontario Business news briefing.
Email
Enter your email address
More Mining
MNR will rehabilitate a dam built for former Steep Rock iron mines MNR will rehabilitate a dam built for former Steep Rock iron mines
Ottawa prepared to financially backstop northwestern Ont. lithium mine Ottawa prepared to financially backstop northwestern Ont. lithium mine
Closed Kapuskasing phosphate mine has new owner, and maybe new life Closed Kapuskasing phosphate mine has new owner, and maybe new life
Comments 0
Add your comment
Add your comment
1000 characters remaining
We welcome your feedback and encourage you to share your thoughts. We ask that you be respectful of others and their points of view, refrain from personal attacks and stay on topic. To learn about our commenting policies and how we moderate, please read our Community Guidelines.
Spotlight
How does the prime rate impact your mortgage rate?
How does the prime rate impact your mortgage rate?
Air Canada bringing more comfort and joy to travel this festive season
Air Canada bringing more comfort and joy to travel this festive season
McFarlane Lake Mining commences drilling on McMillan Mine property - Provides corporate update
McFarlane Lake Mining commences drilling on McMillan Mine property - Provides corporate update
More Spotlight >
Latest Job Listings
There are no listings.
Northern Ontario Business
40 Elm St. Suite 500A
Sudbury, ON
P3C 1S8
Industry News
Mining
Design-Build
Aboriginal Business
Forestry
Transportation
Green
Training & Education
Small Business
Regional News
Dryden-Sioux Lookout
North Bay
Sault Ste. Marie
Sudbury
Thunder Bay
Northeastern Ontario
Northwestern Ontario
Timmins
More
Sudbury.com
Privacy Policy
Terms of Service
Community Guidelines
Contest Rules
Partner Content
© 2024 Northern Ontario Business
××××××