Nickel

Highlights

  • Best Crawford high-grade interval to date; core length of 64.5 metres of 0.71% nickel from 472.5 metres including 6 metres of 1.04% nickel from East Zone High Grade Core
  • Main Zone mineralization successfully drilled to a depth of 1 kilometre
  • East Zone mineralization successfully infilled and extended by a further 33% to strike length of 2.8 kilometres
  • PGM Zone continues to expand – 1.4 g/t PGM over 11.4 metres core length including 2.5 g/t PGM over 3 metres core length

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) announced today it had completed its current phase of drilling at the Company's flagship Crawford Nickel Sulphide Project and is reporting assay results from 33 drill holes from the Crawford drilling program including additional assay results from the previously announced East Zone High Grade Core discovery. A further 37 holes have been drilled at Crawford with assays pending.

Mark Selby , Chair and Chief Executive Officer said, "We are very excited to reach this key milestone of completing this phase of infill drilling at Crawford to support the feasibility study.  The Crawford drilling program continued to deliver strong results, with this phase yielding the highest-grade interval to date, a 33% increase in strike length of East Zone mineralization to 2.8 kilometres, and further testing of Main Zone at depth to more than one kilometre. With more than 200 holes now completed - more than three times the drilling utilized in the Preliminary Economic Analysis ("PEA") – we are well-positioned to deliver a resource increase by mid-year to support the feasibility study expected by the end of this year."

Crawford East Zone

The East Zone was originally defined as two separate zones due to the limited amount of drilling included in the May 2021 PEA. Since then, Canada Nickel has drilled 38 more holes, 12 of which are summarized in this press release. Assays are still outstanding in the remaining 26 holes. The East Zone is now defined as a single continuous ultramafic unit mineralized over its strike length of 2.8 kilometres. It averages 200 metres in thickness and has been drilled to a vertical depth to as much as 730 metres and remains open at depth. The East Zone Higher Grade Core was successfully intercepted in multiple holes designed to better define its extent.  Hole CR21-165A was mineralized across its entire 690 metres length including a 409.5 metre interval of 0.34% nickel (42 metre true width) and 111 metre interval of 0.40% nickel (11.6 metres true width).  Hole CR21-153 was mineralized over entire core length grading 0.30% nickel over 584 metres including 0.45% nickel over 174 metres, 0.71% nickel over 64.5 metres, and 1.04% nickel over 6 metres.  Holes CR21-136, CR21-149, CR21-156 and CR21-165 also successfully intercepted Higher Grade Core .

Figure 1: Plan View of East Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide Project, Ontario .

Figure 1 Plan View of East Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel.png (CNW Group/Canada Nickel Company Inc.)

Table 1:  East Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario .

Hole ID

From

To

Length

Est. True

Ni

Co

Pd

Pt

Cr

Fe

S


(m)

(m)

(m)

Width (m)

(%)

(%)

(g/t)

(g/t)

(%)

(%)

(%)

CR21-119

39.7

479.0

439.3

219.7

0.24

0.012

0.014

0.010

0.58

6.27

0.04

including

221.0

434.0

213.0

106.5

0.27

0.012

0.003

0.003

0.61

5.60

0.03

CR21-123

22.0

507.0

485.0

242.5

0.20

0.012

0.008

0.007

0.62

6.44

0.02

including

261.5

430.5

169.0

84.5

0.26

0.012

0.006

0.005

0.66

5.74

0.02

CR21-125

72.0

375.6

303.6

151.8

0.22

0.012

0.008

0.006

0.59

6.43

0.05

including

232.5

348.0

115.5

57.8

0.27

0.012

0.011

0.006

0.68

5.46

0.06

CR21-127

87.0

300.0

213.0

136.9

0.21

0.013

0.007

0.006

0.57

6.54

0.06

including

177.0

259.5

82.5

53.0

0.25

0.012

0.004

0.005

0.64

5.57

0.06

CR21-131

39.0

346.5

307.5

130.0

0.20

0.012

0.010

0.007

0.56

6.71

0.08

including

198.0

295.5

97.5

41.2

0.26

0.012

0.018

0.010

0.61

5.81

0.07

CR21-133

99.0

285.0

186.0

93.0

0.23

0.012

0.006

0.006

0.64

6.30

0.06

including

180.0

271.5

91.5

45.8

0.26

0.012

0.007

0.007

0.64

5.68

0.07

CR21-136

37.5

327.0

289.5

166.1

0.24

0.012

0.034

0.013

0.62

6.25

0.07

including

129.0

285.0

156.0

89.5

0.28

0.012

0.056

0.019

0.66

5.76

0.08

including

235.5

271.5

36.0

20.6

0.34

0.013

0.230

0.065

0.71

5.90

0.11

including

241.5

255.0

13.5

7.7

0.40

0.011

0.560

0.113

0.72

5.64

0.10

CR21-138

47.5

336.0

288.5

144.3

0.22

0.012

0.010

0.008

0.57

6.08

0.07

including

163.5

268.5

105.0

52.5

0.27

0.012

0.007

0.006

0.57

5.19

0.08

CR21-143

48.6

499.2

450.6

289.6

0.24

0.012

0.003

0.006

0.64

5.94

0.03

including

48.6

334.0

285.4

183.5

0.26

0.012

0.003

0.005

0.61

5.75

0.03

CR21-147

29.2

315.0

285.9

183.7

0.22

0.012

0.005

0.005

0.65

6.30

0.05

including

35.0

134.0

99.0

63.6

0.27

0.012

0.003

0.005

0.71

5.56

0.05

CR21-149

31.1

472.6

441.5

23.1

0.26

0.013

0.019

0.012

0.68

6.22

0.12

including

257.5

353.5

96.0

5.0

0.31

0.014

0.053

0.024

0.75

5.93

0.12

including

313.0

344.5

31.5

1.6

0.37

0.017

0.143

0.049

0.70

6.06

0.19

and

452.5

472.6

20.1

1.1

0.34

0.020

0.055

0.024

0.60

6.41

0.34

CR21-153

85.0

669.0

584.0

40.7

0.30

0.013

0.020

0.012

0.63

6.04

0.12

including

397.5

571.5

174.0

12.1

0.45

0.015

0.057

0.026

0.68

5.95

0.29

including

472.5

537.0

64.5

4.5

0.71

0.016

0.115

0.035

0.64

5.53

0.46

including

492.0

498.0

6.0

0.4

1.04

0.018

0.092

0.033

0.63

5.24

0.82

CR21-156

84.0

657.8

573.8

40.0

0.28

0.013

0.018

0.010

0.68

6.19

0.16

including

394.0

601.0

207.0

14.4

0.35

0.015

0.039

0.019

0.74

6.28

0.37

including

443.5

550.0

106.5

7.4

0.38

0.016

0.062

0.026

0.76

6.67

0.51

CR21-160

30.7

549.0

518.3

177.3

0.24

0.013

0.007

0.004

0.63

6.10

0.03

including

304.5

475.5

171.0

58.5

0.27

0.012

0.003

0.003

0.65

5.75

0.02

CR21-165

36.2

555.0

518.8

40.7

0.29

0.013

0.038

0.018

0.70

5.89

0.11

including

270.0

555.0

285.0

22.4

0.33

0.014

0.062

0.030

0.71

5.79

0.19

including

270.0

308.0

38.0

3.0

0.37

0.011

0.078

0.083

0.63

5.24

0.10

and

472.5

525.0

52.5

4.1

0.42

0.019

0.060

0.023

0.72

6.65

0.36

CR21-165A

45.0

735.0

690.0

72.1

0.30

0.014

0.042

0.019

0.70

6.09

0.19

including

270.0

679.5

409.5

42.8

0.34

0.015

0.065

0.028

0.71

6.12

0.29

including

468.0

579.0

111.0

11.6

0.40

0.018

0.046

0.018

0.73

6.85

0.56

including

469.5

501.0

31.5

3.3

0.51

0.017

0.044

0.019

0.73

6.17

0.39

Crawford Main and West Zone

Drilling within the Main and West Zone consisted of infill drilling to upgrade the resource and expand the resource northwest of the existing Main Zone Resource Estimate.  A total of 39 holes were completed with 21 holes summarized in this release and 18 holes with assays pending.

Drilling westward from the Main Zone has extended the mineralization continuously from the existing resource for a distance of 850 metres to the northwest where it remains open along strike and at depth. This mineralization includes a higher-grade zone as intersected in hole CR21-144 (core length of 69.5 metres of 0.43% Ni starting at 152 m ). Four hundred metres farther to the north, mineralized ultramafic continues to be found such as CR21-130 which intersected 0.24% nickel over core length of 525 metres starting at 32.8 metres including a higher-grade zone of 0.34% nickel over 33.0 metres starting at 322.5 m . Hole CR22-198 was drilled to a core length of 1.04 kilometres and was continuously mineralized below 39 metres of overburden.

Figure 2: Plan View of Main Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide Project, Ontario .

Figure 2 Plan View of Main Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel.png (CNW Group/Canada Nickel Company Inc.)

Table 2:  Main and West Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario .

Hole ID

From

To

Length

Est. True

Ni

Co

Pd

Pt

Cr

Fe

S


(m)

(m)

(m)

Width (m)

(%)

(%)

(g/t)

(g/t)

(%)

(%)

(%)

CR21-110

57.0

426.0

369.0

237.2

0.23

0.013

0.007

0.011

0.58

7.39

0.02

including

57.0

160.5

103.5

66.5

0.29

0.012

0.018

0.024

0.48

7.21

0.03

CR21-115

88.5

450.0

361.5

232.4

0.21

0.012

0.003

0.005

0.62

7.23

0.07

CR21-120

111.0

447.0

336.0

216.0

0.23

0.012

0.003

0.004

0.55

6.99

0.05

including

255.5

417.5

162.0

104.1

0.27

0.012

0.003

0.004

0.68

6.80

0.04

CR21-122

42.3

501.0

458.7

294.8

0.24

0.012

0.005

0.004

0.54

6.64

0.02

including

231.0

501.0

270.0

173.6

0.28

0.012

0.006

0.005

0.63

6.15

0.02

CR21-126A

39.0

546.0

507.0

290.8

0.24

0.013

0.007

0.006

0.54

7.03

0.04

including

186.0

510.0

324.0

185.8

0.27

0.012

0.006

0.005

0.58

6.94

0.04

CR21-128

40.9

549.0

508.1

326.6

0.24

0.013

0.017

0.012

0.59

7.27

0.05

including

171.5

312.5

141.0

90.6

0.26

0.012

0.005

0.004

0.64

6.99

0.05

CR21-130

32.8

558.0

525.2

337.6

0.24

0.013

0.016

0.010

0.58

7.04

0.06

including

322.5

355.5

33.0

21.2

0.34

0.016

0.035

0.019

0.55

7.64

0.15

CR21-132

67.0

489.0

422.0

271.3

0.24

0.014

0.016

0.015

0.60

7.38

0.02

including

67.0

169.5

102.5

65.9

0.29

0.013

0.052

0.033

0.59

6.96

0.07

including

129.0

165.0

36.0

23.1

0.36

0.013

0.125

0.077

0.40

6.97

0.12

including

135.0

151.5

16.5

10.6

0.43

0.013

0.104

0.018

0.47

7.16

0.15

CR21-135

67.0

564.0

497.0

319.5

0.24

0.012

0.012

0.011

0.58

7.14

0.03

including

67.0

275.5

208.5

134.0

0.27

0.011

0.024

0.015

0.56

6.74

0.04

CR21-137

61.0

468.0

407.0

233.4

0.21

0.013

0.003

0.006

0.55

7.18

0.02

including

61.0

109.5

48.5

27.8

0.25

0.013

0.003

0.005

0.31

7.15

0.02

CR21-139

46.5

465.5

419.0

240.3

0.25

0.014

0.021

0.014

0.62

7.38

0.04

including

46.5

208.0

161.5

92.6

0.27

0.014

0.014

0.008

0.58

7.43

0.05

CR21-141

46.5

586.5

540.0

309.7

0.22

0.012

0.003

0.005

0.51

6.79

0.04

including

46.5

218.5

172.0

98.7

0.25

0.012

0.004

0.005

0.61

6.30

0.05

CR21-144

60.0

369.0

309.0

130.6

0.29

0.015

0.034

0.011

0.38

7.14

0.10

including

152.5

369.0

216.5

91.5

0.33

0.015

0.026

0.010

0.30

7.26

0.12

including

152.5

222.0

69.5

29.4

0.43

0.016

0.040

0.012

0.31

7.31

0.15

CR21-145

82.0

667.5

585.5

335.8

0.21

0.013

0.009

0.010

0.59

7.29

0.06

CR21-148

49.0

505.0

456.0

261.6

0.25

0.014

0.015

0.014

0.57

7.42

0.04

including

328.0

396.0

68.0

39.0

0.31

0.014

0.061

0.035

0.38

7.53

0.06

and

482.5

502.0

19.5

11.2

0.33

0.014

0.015

0.009

0.76

7.81

0.05

and

373.0

391.0

18.0

10.3

0.42

0.015

0.018

0.010

0.37

7.49

0.13

CR21-152

63.9

535.5

471.6

270.5

0.24

0.012

0.006

0.005

0.57

7.04

0.05

including

262.5

477.0

214.5

123.0

0.28

0.013

0.009

0.005

0.69

7.31

0.04

CR21-155

46.0

579.0

533.0

250.2

0.28

0.011

0.016

0.007

0.61

6.60

0.06

including

198.0

483.0

285.0

133.8

0.32

0.011

0.021

0.007

0.60

6.83

0.07

including

447.0

481.5

34.5

16.2

0.37

0.012

0.034

0.011

0.71

5.83

0.20

CR21-157

45.5

549.0

503.5

288.8

0.22

0.013

0.006

0.012

0.54

6.97

0.02

including

475.0

549.0

74.0

42.4

0.27

0.014

0.016

0.022

0.32

6.92

0.02

CR21-159

30.2

366.0

335.8

192.6

0.27

0.013

0.015

0.009

0.62

6.27

0.06

including

81.0

187.5

106.5

61.1

0.34

0.013

0.027

0.011

0.73

5.25

0.14

including

90.0

135.0

45.0

25.8

0.39

0.014

0.037

0.013

0.76

4.33

0.22

including

94.5

123.0

28.5

16.3

0.41

0.014

0.040

0.014

0.75

4.30

0.25

CR21-162

25.5

396.0

370.5

95.9

0.29

0.013

0.022

0.014

0.64

6.54

0.07

including

112.5

274.5

162.0

41.9

0.33

0.013

0.033

0.011

0.58

6.47

0.05

PGM Zone

PGM mineralization continued to be targeted with five additional holes. These results confirm the association of a PGM zone along the boundary of a gravity high structure which has a circumference of approximately 9.7 kilometres and borders the nickel mineralization in the Main and East Zones. Grades and true widths are consistent with previously reported drilling. Higher grade intervals, such as 2.8 g/t PGM over 1.5 metres (true width) in CR21-133 occur in some holes and lower grade intervals, such as 0.9 g/t PGM over 2 metres (true width) in CR21-134A occur in other holes, but the PGM Zone appears to be largely continuous. The PGM Zone will be more intensively targeted with a drill program during 2022.

Figure 3: Plan View of PGM Zone – Drill Results Overlain on Gravity Vertical Gradient, Crawford Nickel Sulphide Project, Ontario .

Figure 3 Plan View of PGM Zone – Drill Results Overlain on Gravity Vertical Gradient, Crawford Nickel Sulphi.png (CNW Group/Canada Nickel Company Inc.)

Table 3:  PGM Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario .

Hole ID

From

To

Length

Est. True

Pd + Pt

Pd

Pt

Ni

Co

Cr

Fe

S


(m)

(m)

(m)

Width (m)

(g/t)

(g/t)

(g/t)

(%)

(%)

(%)

(%)

(%)

CR21-124

499.5

505.5

6.0

3.9

1.5

0.547

0.950

0.05

0.012

0.54

7.44

0.02

including

532.6

544.0

11.4

7.3

1.4

0.706

0.706

0.02

0.006

0.46

6.04

0.03

including

537.0

540.0

3.0

1.9

2.5

1.305

1.240

0.02

0.006

0.45

6.25

0.01

and

550.9

553.1

2.2

1.4

2.3

1.096

1.190

0.03

0.007

0.44

5.81

0.03

CR21-129A (partial)

373.5

381.0

7.5

4.8

1.3

0.621

0.660

0.03

0.009

0.39

5.81

0.07

including

375.0

378.0

3.0

1.9

2.5

1.240

1.280

0.02

0.008

0.32

5.48

0.00

CR21-131

355.5

358.5

3.0

1.3

0.9

0.463

0.480

0.02

0.007

0.38

5.64

0.05

CR21-133

345.0

355.5

10.5

5.3

1.4

0.673

0.693

0.02

0.007

0.32

5.81

0.12

including

349.5

352.5

3.0

1.5

2.8

1.395

1.375

0.02

0.007

0.28

5.91

0.10

CR21-134A

342.0

348.0

6.0

3.0

1.3

0.599

0.685

0.02

0.007

0.34

5.60

0.06

including

345.0

346.5

1.5

0.8

2.4

1.100

1.270

0.03

0.007

0.40

5.76

0.05

and

379.5

383.5

4.0

2.0

0.9

0.384

0.501

0.05

0.012

0.36

7.00

0.03

Table 4: Drill Hole Orientation

Hole ID

Easting

Northing

Azimuth

Collar Dip

Length


(mE)

(mN)

(⁰)

(⁰)

(m)

CR21-110

472,338

5,409,413

225

-50

369.0

CR21-115

472,590

5,409,191

225

-50

361.5

CR21-119

474,299

5,409,995

180

-60

439.3

CR21-120

472,135

5,410,036

270

-50

336.0

CR21-122

472,088

5,410,242

270

-50

458.7

CR21-123

474,503

5,409,983

180

-60

485.0

CR21-124

472,040

5,410,238

90

-50

515.0

CR21-125

474,605

5,409,699

360

-60

303.6

CR21-126A

472,021

5,410,135

270

-55

507.0

CR21-127

474,402

5,409,726

360

-50

213.0

CR21-128

472,036

5,410,035

270

-50

508.1

CR21-129A

474,201

5,409,753

360

-50

335.0

CR21-130

472,059

5,409,953

270

-50

525.2

CR21-131

474,000

5,409,818

5

-65

307.5

CR21-132

472,292

5,409,489

225

-50

422.0

CR21-133

473,910

5,409,793

355

-60

372.0

CR21-134A

473,804

5,409,799

5

-60

261.0

CR21-135

472,459

5,409,432

225

-50

497.0

CR21-136

473,617

5,409,780

355

-55

289.5

CR21-137

472,468

5,409,293

225

-55

407.0

CR21-138

473,359

5,409,778

360

-60

288.5

CR21-139

472,128

5,409,631

235

-55

419.0

CR21-141

472,115

5,409,616

60

-55

540.0

CR21-143

473,502

5,410,014

180

-50

450.6

CR21-144

472,054

5,409,463

60

-65

309.0

CR21-145

472,051

5,409,462

235

-55

585.5

CR21-147

473,972

5,409,987

185

-50

285.9

CR21-148

472,087

5,409,312

50

-55

456.0

CR21-149

473,854

5,409,880

178

-87

441.5

CR21-152

472,419

5,409,658

235

-55

471.6

CR21-153

473,763

5,409,807

360

-86

584.0

CR21-155

472,834

5,408,829

35

-62

533.0

CR21-156

473,670

5,409,809

0

-86

573.8

CR21-157

472,291

5,409,057

45

-55

503.5

CR21-159

473,002

5,408,960

215

-55

335.8

CR21-160

474,397

5,409,939

180

-70

518.3

CR21-162

473,002

5,408,961

215

-75

370.5

CR21-165

473,801

5,409,899

180

-85.5

518.8

CR21-165A

473,801

5,409,897

185

-84

690.0

CR22-198

473,559

5,408,735

205

-75

1,009.0

Corporate Update

The Company also announced today that it has issued stock options and RSUs to executives, employees and directors under its equity incentive plans. A total of 1,040,000 stock options were issued at an exercise price of $3.14 per share vesting over a three-year period and 925,362 RSUs were issued vesting over a one-year period. The options expire five years from the date of grant.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Assays, Quality Assurance/Quality Control and Drilling and Assay

Edwin Escarraga , MSc, P.Geo., a "qualified person" as defined by NI 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. A set of Samples are transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, the other set of samples are securely shipped to SGS Lakefield. Both are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and 17 other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch P.Geo . (ON), VP 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 Company Inc.

About Canada Nickel Company

Canada Nickel Company Inc. 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 Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , 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, please visit www.canadanickel.com.

For further information, please contact:

Mark Selby, Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation.  Forward looking information includes, but is not limited to, drill results relating to the Crawford Nickel Sulphide Project, the potential of the Crawford Nickel Sulphide Project, timing of economic studies and mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development results, and corporate and technical objectives.  Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.  Factors that could affect the outcome include, among  others:  future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise  the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities  (known  and  unknown), general business, economic, competitive, political and social uncertainties, results of  exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain  regulatory or shareholder approvals, and the impact of COVID-19 related disruptions in relation to the Company's  business operations including upon its employees, suppliers, facilities and other stakeholders.  There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.  Accordingly, readers should not place undue reliance on forward-looking information.  All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof.  Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Canada Nickel Company Logo (CNW Group/Canada Nickel Company Inc.)

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SOURCE Canada Nickel Company Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2022/04/c3005.html

News Provided by Canada Newswire via QuoteMedia

CNC:CA
TSXV:CNC

Canada Nickel


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Updated Mineral Resource Estimate Doubles Measured & Indicated Resources at Canada Nickel's Crawford Nickel Sulphide Project

Updated Mineral Resource Estimate Doubles Measured & Indicated Resources at Canada Nickel's Crawford Nickel Sulphide Project

Highlights

  • Updated mineral resource estimate more than doubles Measured & Indicated resources to 1.4 billion tonnes at 0.24% nickel plus a further 670 million tonnes of Inferred resources at 0.23% nickel
  • Crawford now believed to be fifth largest nickel sulphide resource globally comprising 3.5 million tonnes of contained Measured & Indicated nickel

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) announced today an updated mineral resource estimate for its 100% owned Crawford Nickel Sulphide Project ("Crawford") near Timmins Ontario, more than doubling the project's Measured & Indicated (M&I) mineral resources.

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Canada Nickel Company Announces Assay Results and Confirms Discovery at Reid Property

Canada Nickel Company Announces Assay Results and Confirms Discovery at Reid Property

Highlights

  • Assays achieved expected grades over entire core length of 354 metres: 0.24% nickel including 15 metres of 0.39% nickel and 6 metres of 0.57% nickel
  • Confirmed same mineralogy as Company's flagship Crawford Project
  • Reid property has larger geophysical footprint than Crawford
  • Crawford resource update expected to be released by July 6, 2022

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) announced today assay results at its Reid property, where two drill holes have been completed as part of its regional exploration program. Drilling was highlighted by hole REI21-02 which intersected 354 meters of 0.24% nickel and includes 15 meters of 0.39% nickel and 6 meters of 0.57% nickel. Mineralogy completed on samples from these holes confirmed that they contain the same heazlewoodite-pentlandite-awaruite minerals as Crawford.

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Canada Nickel Completes Additional Property Acquisitions

Canada Nickel Completes Additional Property Acquisitions

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has entered into an agreement with Grid Metals Corp. ("Grid") (TSXV: GRDM; OTCQB: MSMGF) on June 6, 2022 to acquire a 100% interest in the Bannockburn Nickel Property located near Matachewan Ontario and to provide further details on other recently acquired properties.

Mark Selby , Chair and Chief Executive Officer said, "The acquisition of Bannockburn is highly complementary to our southern cluster of properties at Sothman, Midlothian, and Powell.
The Bannockburn "B" zone has already been successfully tested for 600 metres of its total 1.3 kilometre strike length with multiple intervals in excess of 0.3% nickel and has smaller, higher grade potential at other zones on the property. Historical mineral processing work confirmed presence of heazlewoodite, similar to Crawford, and the ability to generate a 35% nickel concentrate."

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Canada Nickel Takes Important Step in Crawford Nickel Project Permitting Process

Canada Nickel Takes Important Step in Crawford Nickel Project Permitting Process

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce submission of the preliminary draft of the Initial Project Description ("IPD") to the Impact Assessment Agency of Canada ("the Agency") following the related signing of ground-breaking Impact Assessment Process Agreements ("Impact Assessment Agreements" or "IA Agreements") with Taykwa Tagamou Nation, Matachewan First Nation, and Mattagami First Nation.

Canada Nickel Logo (CNW Group/Canada Nickel Company Inc.)

Mark Selby , Chair & CEO of Canada Nickel said, "This is an important first step in the permitting process for Crawford. Since the founding of the Company, our approach has been to work with Indigenous communities and local stakeholders as partners in order to create shared value through economic opportunities, while also being respectful and responsible stewards of the natural environment. These ground-breaking Impact Assessment Agreements foster full participation of Indigenous Communities in the federal Impact Assessment process for the development of the Crawford Nickel Project."

"Taykwa Tagamou Nation is proud of the partnership we have with Canada Nickel. This innovative model of applying Traditional Knowledge through a land use study enables our community to both understand the project's impacts through all stages of its life cycle, while ensuring that, as the stewards of our Traditional Territory, development is conducted in an environmentally sustainable manner", said Chief Bruce Archibald .

"True Indigenous partnerships, such as ours with Canada Nickel, provide certainty for proponents, along with economic opportunity for Northern Ontario and impacted Indigenous communities," said Deputy Chief Derek Archibald . "With this certainty, Taykwa Tagamou Nation is meaningfully participating in the project's economic development from beginning to end".

Chief Chad Boissoneau , of Mattagami First Nation, commented "Agreements of this nature, built upon honest and genuine relationships, benefit both the First Nation and the Proponent. First Nations can fully participate in the Impact Assessment of a major project on our Traditional Land, while supporting Canada Nickel in making properly informed, sustainable, and respectful decisions about a project that stands to be of great benefit to our community."

An Important Step for the Crawford Nickel Project

The submission of the preliminary draft of the IPD to the Agency initiates a precursory review period of the document. This review period, coinciding with Canada Nickel's independent Indigenous and public consultation program for the IPD, will enable Canada Nickel to integrate feedback from both the Agency's review and Canada Nickel's engagement activities into the final draft of the IPD, expected to be formally submitted in summer 2022.

The Impact Assessment process is a planning and decision-making tool used by regulators, Indigenous communities, the general public, stakeholders, and proponents to emphasize the positive benefits and resolve or mitigate the potential impacts of a proposed major project. The IPD is a key phase in the early planning and development of a modern mining project.

Impact Assessment Process Agreements

The signing and implementation of the IA Agreements further validates the meaningful and productive relationships developed between Canada Nickel and Taykwa Tagamou Nation, Matachewan First Nation, and Mattagami First Nation, and serves as tangible evidence of Canada Nickel's intention around full integration of Indigenous communities into the development of the Crawford Nickel Project.

The IA Agreements are intended to foster full participation of Indigenous communities in the federal Impact Assessment process, with a focus on community driven completion of Traditional Knowledge and Land Use and Socio-economic studies. In addition to outlining effective communication channels and platforms for meaningful engagement, the IA Agreements facilitate tangible capacity building within the communities that will extend beyond the timeline of and activities relating to the Crawford Project and Canada Nickel, including the hiring and training of a dedicated Impact Assessment Coordinator and the creation of an Impact Assessment Coordination Committee, comprised of representative, interested community members, including youth and elders.

Canada Nickel Company Inc. 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 successfully registered and applied for trademarks in various jurisdictions for NetZero Nickel™, NetZero Cobalt™ and 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% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com .

For further information, please contact:

Mark Selby , Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, drill results relating to the Crawford Nickel Sulphide Property, the potential of the Crawford Nickel Sulphide Property, timing of economic studies and mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals, and the impact of COVID-19 related disruptions in relation to the Company's business operations including upon its employees, suppliers, facilities and other stakeholders. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-takes-important-step-in-crawford-nickel-project-permitting-process-301545660.html

SOURCE Canada Nickel Company Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/12/c4551.html

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Canada Nickel Announces New Nickel Discovery at Reid with Larger Footprint than Flagship Crawford Property Main Zone; Provides Update on Regional Exploration

Canada Nickel Announces New Nickel Discovery at Reid with Larger Footprint than Flagship Crawford Property Main Zone; Provides Update on Regional Exploration

Highlights

  • Reid Property – second hole of new discovery intersected dunite across entire 354 metre core length including an 84 metre highly mineralized interval.
  • All 21 holes drilled at Deloro , Reaume, and Nesbitt properties intersected target mineralization.

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced a new nickel discovery at its Reid property, where two drill holes have been completed as part of its regional exploration program. Drilling has commenced at Reid, as well as the Company's Deloro and Reaume properties, and assays from earlier drilling at Nesbitt have been received.

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More Nickel in Updated Black Swan Disseminated Mineral Resource

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  • Geologist crew back in the field at Surimeau for follow up channel sampling in areas of the best visual mineralization discovered during May 2022 program.
  • Target areas include mineralization at the western end of the ~20km Victoria Mag/EM structure and newly revealed mineralization at LaLonde.
  • Assay results from the May 2022 program are still not yet received, fortunately, due to the visual nature of the nickel, cobalt, copper and zinc sulphides encountered on surface follow up work is possible.

    Information acquired in the May program, and which will be acquired in this next program, will allow Renforth to better define the surface extent of the battery minerals bearing Victoria Structure which stretches ~20km east to west across the central portion of our 330 sq. km. Surimeau property, road accessible adjacent to the. Canadian Malartic Mine and the Town of Malartic, Quebec.

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    Back in Q1, nickel rocketed to US$100,000 per metric ton (MT) — an all-time high and a rise of 250 percent over the course of two days. In response, the London Metal Exchange suspended trading and canceled some trades.

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