- Canada Nickel Company (TSXV:CNC), a junior miner pursuing numerous near-term resources, announces promising assays for drill hole BAN24-20 at its Bannockburn property in Ontario
- The highlight intercept yielded 10.1 metres grading 1.11 per cent nickel
- Canada Nickel Company is advancing nickel-sulphide projects in Ontario to supply the electric vehicle and stainless steel markets
- Canada Nickel Company stock is down by 6.80 per cent year-over-year but remains up by 6.67 per cent since inception in 2020
Canada Nickel Company (TSXV:CNC), a junior miner pursuing numerous near-term resources, announces promising assays for drill hole BAN24-20 at its Bannockburn property in Ontario.
The drill hole intersected 15.7 metres of sulphides within a disseminated sulphide-bearing peridotite, intersecting the BHEM target at 470 metres downhole. The highlight interval measured 10.1 metres grading 1.11 per cent nickel, including 4.4. metres of 1.32 per cent nickel, 0.17 per cent copper and 0.55 grams per ton (g/t) palladium and platinum.
BAN24-20 is only 138 metres northwest of BAN24-18, which delivered 1.61 per cent nickel over 12 metres, including 3.95 per cent nickel over 4 metres.
A follow-up drill hole (BAN24-21) is in progress with a bore hole electromagnetic survey upcoming to test high-grade leads from BAN24-18 and BAN24-20.
The Bannockburn property
Bannockburn is 65 kilometres south of Timmins and 20 kilometres west of Matachewan, Ontario, in the vicinity of the company’s Midlothian and Sothman properties. The property houses the large-tonnage, low-grade B nickel zone and numerous new targets suggestive of higher-grade mineralization.
Leadership insights
“We are very pleased that this second hole at Bannockburn intersected a well-mineralized interval grading 1.11 per cent nickel across 10.1 metres and correlates with both the geophysical target that had been identified in the prior borehole survey and the observed mineralization,” Mark Selby, Canada Nickel Company’s chief executive officer, said in a statement. “We look forward to continuing to unlock the higher-grade potential of this target, and to testing other high-potential conductors identified at the Bannockburn property.”
About Canada Nickel Company
Canada Nickel Company is advancing nickel-sulphide projects in Ontario to supply the electric vehicle and stainless steel markets. The company is also developing processes to produce net-zero-carbon nickel, cobalt and iron products.
Canada Nickel Company stock (TSXV:CNC) last traded at C$0.96 per share. The stock is down by 6.80 per cent year-over-year but remains up by 6.67 per cent since inception in 2020.
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(Top photo of mineralization from drill hole BAN24-20: Canada Nickel Company)