Highlights: Achieves 61% nickel recovery and produces 37% nickel concentrate from lower grade sample of 0.22% nickel and 0.08% sulphur Nickel recovery 19 percentage points or 45% higher than the PEA model Iron recovery of 63% was 15 percentage points or 31% higher than the PEA model Canada Nickel Company Inc. is pleased to announce further results of metallurgical testing at its Crawford Nickel Sulphide Project that ...


  • Achieves 61% nickel recovery and produces 37% nickel concentrate from lower grade sample of 0.22% nickel and 0.08% sulphur
  • Nickel recovery 19 percentage points or 45% higher than the PEA model
  • Iron recovery of 63% was 15 percentage points or 31% higher than the PEA model

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce further results of metallurgical testing at its Crawford Nickel Sulphide Project that continue to demonstrate significant improvements in metal recoveries relative to the Preliminary Economic Assessment ("PEA").

The latest metallurgical test work results are from a sample taken from the South Low Grade region of the Crawford Main Zone. The achievement of 61% nickel recovery from a low grade sample is consistent with results from other samples in the news release dated October 5, 2021 . The Company is commencing the first phase of metallurgical variability testing for the feasibility study to better understand metallurgical performance from samples taken throughout the Crawford resource.

Mark Selby , Chair and CEO said, "These metallurgical testing results continue to demonstrate the potential from our flowsheet optimization program to deliver improvements in recovery well in excess of the 4-5 percentage point improvement that we are targeting for our feasibility study. Each percentage point improvement in nickel recovery would yield a US$92 million improvement in the value of the NPV 8% of the project, based on the PEA metrics. While we continue to expect a broad range of recoveries from the samples which will be tested during the variability program, the ability to achieve 60+% recovery from samples from the lower grade portion of the resource is an excellent outcome."

Description of Current Results
This open circuit test ("OCT") was completed at COREM on a heazlewoodite dominant sample with a head grade of 0.22% nickel, 6.8% iron and a sulphur to nickel ratio of 0.36. The sample was selected from the South Low Grade region of the Crawford Main Zone and achieved a nickel recovery of 61%, which is 19 percentage points higher than what was modelled for this type of sample in the PEA. In addition to the excellent nickel recovery, the iron and chromium recoveries were also 15 and 18 percentage points higher than what was modelled in the PEA respectively.

This test used the same flowsheet that was used in the news release dated October 5 th , 2021, which demonstrated nickel recovery improvements that were more than 5% higher than what was modelled in the PEA on four samples from the high grade core. The result presented in the current release shows that recovery gains of more than 5% using the new flowsheet are also being achieved in the lower grade portions of the resource.

Table 1 – Open Circuit Test - Summary of Results Compared to the PEA Model

Recovery (%)

Concentrate Grades (%)

Final Nickel




















PEA Modelled


















As expected, all of the nickel recovered to the nickel concentrate was to the high grade concentrate, because heazlewoodite was the primary nickel sulfide mineral in this sample. The sample also contained quantities of awaruite which, as expected, reported to the magnetite concentrate. The nickel concentrate grade of 37% is 2% higher than our target 35% grade for this product and highlights the Company's ability to produce the one of the highest grade concentrates on the market. As anticipated, the cobalt recovery for this sample was low because cobalt does not typically associate with the mineral heazlewoodite.

Sample Location
This sample was taken from drill hole CR21-167 from the South Low Grade Zone of the Crawford Main Zone. The average nickel grade of this zone of the deposit is 0.21% nickel and the sample head grade was 0.22% nickel. The company is encouraged by nickel recoveries in excess of 60% by lower grade samples such as the one used in this test, which is attributed to the optimization and development work completed by the Company since issuing the PEA. In the next phase of metallurgical test work, Canada Nickel will complete variability testing on samples from the Crawford Main and East Zones starting with samples from the East Zone.

For further details, including key assumptions, parameters and methods used to estimate the results of the PEA, and data verification, please refer to the "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", with an Effective Date of May 21, 2021 , as filed July 12, 2021 , and available for viewing on the Company's website .

Qualified Person and Data Verification
Arthur G. Stokreef , P.Eng (ON), Project Metallurgist of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

About Canada Nickel
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 .

For further information, please contact:
Mark Selby , Chair and CEO
Phone: 647-256-1954

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, the metallurgical results, the timing and results of the feasibility study, the results of Crawford's PEA, including statements relating to net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, carbon footprint and sequestration levels, estimates of capital and operating costs, timing for permitting and environmental assessments, realization of mineral resource estimates, capital and operating cost estimates, project and life of mine estimates, ability to obtain permitting by the time targeted, size and ranking of project upon achieving production, economic return estimates, the timing and amount of estimated future production and capital, operating and exploration expenditures and potential upside and alternatives. Readers should not place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable.

Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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Canada Nickel

Canada Nickel


Canada Nickel (TSXV:CNC, OTC:CNIKF) 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. The Company’s shares trade on the TSX Venture Exchange under the symbol ‘CNC’ and are quoted on the OTCQX under the symbol ‘CNIKF’. For more information, please visit

Canada Nickel’s Company Highlights

  • Completed Preliminary Economic Assessment on wholly-owned Crawford Nickel Sulphide Project $US1.2 billion NPV8% and 16%IRR.  Feasibility study scheduled for mid 2022.
  • One of the top 10 nickel sulphide resources globally, with significant expansion potential from regional land package
  • Peak production of 42ktpa of nickel – would be one of five largest nickel sulphide operations when in production.  25 year mine life generates 842kt of nickel, 21 Mt of iron, and 1.5 Mt of chrome.
  • First percentile CO2e intensity according to Skarn Associates.  Launched wholly-owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron and applied for the trademarks NetZero NickelTM, NetZero CobaltTM and NetZero IronTM across several jurisdiction

Canada Nickel’s Crawford Project

Canada Nickel’s flagship Crawford nickel-sulfide project is located in Ontario’s Timmins mining camp, which is home to nearby mining infrastructure including the Kidd Metallurgical Site. The Timmins mining camp has a 100 year history of mining activity.

Canada Nickel filed its maiden resource at the Crawford project in February 2020, including a measured and indicated resource of approximately 263 million tonnes at 0.31 percent nickel, 0.013 percent cobalt, and 0.038 g/t palladium and platinum. Existing exploration establishes the resource as one of the 12 largest nickel sulfide assets in the world.

The company provided a mineral resource update for the project in October 2020. The update  reported that measured resources in the Main Higher Grade Zone measured increased by 162 percent to 153 million tonnes (Mt) at 0.32% nickel and the total measured and indicated resource increased by 9 percent to 657 Mt at 0.26 percent nickel for 1.7 Mt nickel. Lastly, the total inferred resource increased by 121 percent to 646 Mt at 0.24 percent nickel for 1.6 Mt nickel, including an increase of 50 percent in the Main Zone (433 Mt at 0.23 percent nickel) and an initial resource from the East Zone of 213 Mt at 0.24 percent nickel (505,000 tonnes nickel).


The Crawford property was previously explored by Inco in the 1960s in each large anomaly, with minimal exploration conducted in the following decades. The land package was then owned by a forestry company before being acquired by Noble Mineral Exploration for resource purposes again in 2011. In December of 2019 ownership of the Crawford project was transferred from Noble Mineral Exploration to Canada Nickel in exchange for 12 million shares of Canada Nickel and $2 million in cash.

Canada Nickel believes the Crawford nickel-sulfide project shares similarities to the Dumont project. The Dumont deposit contains approximately 6.1 billion pounds of nickel in proven and probable reserves, with another 9.75 billion pounds of nickel resources in the measured and indicated category.

 Significant Exploration Potential
>50% Crawford + Multiple New Targets

The 4,909 hectare Crawford Nickel-Sulphide Project and five other option properties ranging in size of 903 to 5,543 hectares give Canada Nickel access to five additional  high potential, regional nickel targets.

Fully consolidated properties contain multiple nickel-bearing target structures 30km of total strike length and 150 – 600m wide

  • For reference, the Crawford Main Zone resource
    is 1.7 km long and 225-425 metres wide

Historic drilling yielded nickel-bearing intersections on all of the target structures

  • Kingsmill – 0.30% Ni over 503m from 118m in historic hole KML-12-02 (2012) and 0.31% Ni over 302m from 20m in historic hole 27090 (1966)
  • Nesbitt-North – 0.28% Ni over 163m from 233m in historic hole 27083 (1966)
  • Mahaffy-Aubin – 0.23% Ni over 127m from 82m in historic hole 31901 (1966) and  of 276m of serpentinized ultramafic mineralization (similar host mineralization at Crawford) in historic hole T2-80-2 (1980) with no assays provided
  • Dargavel – 0.24% nickel over 173m with local assays up to 0.40% nickel in historic hole 25014

PGM-enriched structures similar to Crawford also identified at Kingsmill

  • 1.0 g/t PGM over 2m from 96m within 0.3 g/t PGM over 30m from 69m in historic hole KML-12-11 (2012), 0.8 g/t PGM over 5m from 523m within 0.5 g/t PGM over 24m in historic hole KML-12-07 (2012)

Airborne magnetic and gravity survey totaling 2,731 km completed.

Canada Nickel’s Management Team

Mark Selby — Chairman and CEO

Mark was formally President & CEO of RNC Minerals (Royal Nickel Corporation) where he led a team that successfully raised over $100 million and advanced the Dumont nickel-cobalt project from initial resource to a fully permitted, construction-ready project. He has held a number of senior management roles with Quadra Mining, Inco, and Purolator Courier, and was a partner at Mercer Management Consulting.

Since 2001, Mr. Selby has been recognized as one of the leading authorities on the nickel market.  He graduated from Queen’s University with a Bachelor of Commerce (Honours) and has also served on the boards of multiple junior mining companies and is currently a Director and Chair of Orford Minerals.

Wendy Kauffman — CFO

Wendy brings more than twenty-five years of experience leading junior and mid-tier publicly-listed mining companies in project financing, capital structuring, capital markets, accounting and internal controls, tax, and financial reporting and public disclosure. Her skills and experience include the completion of a $4 billion finance package for Cobre Panama during her time at Inmet Mining, one of largest finance packages assembled by mid-tier mining company. She was also previously the CFO at Khiron Life Sciences Corporation and held CFO and senior finance positions at Pasinex Resources Limited, Primero Mining Corporation and Inmet Mining Corporation. Wendy holds a Bachelor of Business Administration from Wilfrid Laurier University and is a Chartered Professional Accountant (CPA, CA).

Steve Balch — VP of Exploration

Steve is an Ontario registered geoscientist with 32 years of experience in geophysics, specializing in the magnetic and electromagnetic methods, but also with experience in large exploration compilations. After working at Inco for six years in the Sudbury Basin and at Voisey’s Bay, Steve joined Aeroquest in 2001 and helped develop the AeroTEM system, focusing on the on-time measurements of the linear triangular waveform. In 2007, Mr. Balch founded Triumph Instruments and developed the AirTEM system, a multi-coil helicopter-borne EM system that is now in use in Mexico, China, Canada, and Eastern Europe. Steve has also been active in borehole geophysics and has worked to develop new technology including north-seeking gyros, temperature compensated induction conductivity probes, UAV-based magnetometers, and high sensitivity magnetic gradiometers.

David Smith — Director

David is Senior Vice-President, Finance and Chief Financial Officer of Agnico Eagle and has held this position since 2012. He has also held the position of Senior Vice-President, Strategic Planning and Investor Relations. Prior to joining the Company’s investor relations team in 2005, Mr. Smith, a Professional Engineer, was a mining analyst and held a variety of mining engineering positions in Canada and abroad. He is a Chartered Director holding a Directorship with Sprott Resource Holdings Inc. and is formerly a Director at eCobalt Solutions Inc. He holds a B.Sc. (Queen’s University) and M.Sc. in Mining Engineering (University of Arizona).

Mike Cox — Director

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