Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, is reporting on positive initial assay results from its 2024 exploration program at both its Newmarket and Reid properties. Highlights of the report indicate that the first two holes at Newmarket successfully intersect target mineralization including 373 meters of 0.24% nickel in NEW24-01 and the first hole at Reid is showing the best interval at 675 meters of 0.25% nickel including 142 meters of 0.32% nickel and 24 meters of 0.40% nickel in REI24-17. In addition, the report noted that the first five holes at Reid each intersect over 650 meters of target mineralization within an 800-meter-thick ultramafic sequence, which is approximately two times thicker than the main zone at Canada Nickel’s Crawford property. The company noted that 6 holes at Reid and 17 holes at Crawford have been completed as part of a program to delineate an initial palladium-platinum (“PGM”) resource for which assays are pending; currently, four drill rigs are operating with a fifth drill rig set to begin operations on April 1, 2024. Canada Nickel also reported that it has granted options and restricted shares units of the corporation (“RSUs”) to certain officers, directors and/or employees of the corporation. The offering included 3,830,000 options to acquire common shares of the corporation and 2,000,130 RSUs.
“Our 2024 exploration program has started very strongly with the best drill interval to date at Reid and a new discovery at Newmarket,” said Canada Nickel CEO Mark Selby in the press release. “The long drill interval of higher-grade material at Reid is very encouraging, and the first section delineating an over-800 meter width of target ultramafic sequence — nearly two times thicker than Crawford — highlights the very large-scale potential of this property. The initial Newmarket results are also very encouraging, despite the fact we were only able to drill at the least attractive geophysical target due to seasonal logistical constraints. This initial drilling occurred on the edge of the eastern end of the seven-kilometer-long Newmarket target, which is contiguous with the Mann Southeast target and is part of an overall geophysical target more than three times larger than Crawford.”
To view the full press release, visit https://ibn.fm/UyaCB
About Canada Nickel Company Inc.
Canada Nickel is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high-growth electric vehicle and stainless-steel markets. Canada Nickel has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM), 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 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. For more information about the company, visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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