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.

 

  Mark Selby , Chair and Chief Executive Officer said, "We are very pleased with our continued exploration success at Crawford. Our overall Measured & Indicated resource has more than doubled, driven in large part by outstanding exploration success in our East Zone. In less than three years from initial discovery, we believe Crawford has quickly become the fifth largest nickel sulphide resource globally. When combined with the potential for zero carbon production, Crawford is expected to become an important source of nickel for electric vehicle and stainless-steel producers. With additional potential from a number of holes still pending assays at the resource cut-off date, we expect the final feasibility study resource to support the upper end of our mine plan target of 1.3 to 1.8 billion tonnes. The Crawford feasibility study continues to be on track for completion by year-end."

 

  Crawford Mineral Resource Estimate Update  
 

Total M&I resources more than doubled to 1.43 billion tonnes at 0.24% nickel and Inferred resource was 0.67 billion tonnes at 0.23% nickel (see Table 1). The East Zone M&I resource increased by more than 14-fold to 701 Mt at 0.23% nickel and the Main Zone resource increased by 17% to 724 Mt at 0.25% nickel. With 3.48 Mt of contained nickel in M&I resources, the company believes Crawford has the fifth largest contained nickel sulphide resource globally. M&I resources also include 93.9 Mt of iron, 8.5 Mt of chromium, 183 kt of cobalt, and 1.06 million ounces of palladium + platinum.

 

This updated resource is based on a combined total of 113 drillholes and 56,286 metres of drilling. Consistent with previously reported resources, a cut-off grade of 0.15% nickel was used in the Mineral Resource Estimate. Higher grade-Lower grade, and block model views of the resource estimate are provided in Figures 2 and 3 below. Sixty percent of assays from 54 additional exploration drillholes in the East and Main Zone that had not yet been received as of the resource cutoff date will be subsequently incorporated into the final feasibility study resource. Given the focus on the Main and East Zone as resources for this phase of the feasibility study, resources for North Zone (15 drill holes) and Western Extension (38 drill holes) are expected to be completed later this year and incorporated into the final feasibility study.

 

This Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. in accordance with CIM Definition Standards on Mineral Resources and Reserves. A Technical Report in support of the Mineral Resource Estimate will be filed on SEDAR ( www.sedar.com ) within 45 days. The Mineral Resource Estimate is effective as of July 6, 2022 .

 
  East Zone  
 

Drilling completed during 2021 and early 2022 joined the two previously isolated sections of mineralization. The updated resource, consisting of a total of 47 drill holes and 22,563 metres, extended the resource by 500 metres to the east for a total of 2.6 kilometres in strike length, up to 350 metres in width, and more than 650 metres deep. Drilling extended mineralization a further 200 metres to the east and mineralization remains open at depth. Higher grade mineralization continues at depth beyond the current resource as tested by hole CR22-230 which was completed to a depth of 1,155 metres. Assays for this hole are pending.

 
  Main Zone  
 

Drilling in the Main Zone focused near the west extension as well as testing the continuation of higher-grade targets at depth. The Main Zone resource now consists of a total of 66 drillholes and 33,723 metres of drilling and is defined across strike length of 1.9 kilometres, a width of up to 580 metres and 700 metres deep. Higher grade mineralization continues at depth beyond the current resource as tested by hole CR22-198 which was completed to a depth of 1,044 metres. Assays for this hole are pending.

 
 

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

 
 
  1.   The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Dr. Scott Jobin-Bevans (P.Geo., APGO #0183), of Caracle Creek International Consulting Inc. The effective date of the Mineral Resource Estimate is July 6, 2022 .

     
  2.  
  3.   These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

     
  4.  
  5.   A cut-off grade of 0.15% Ni was used for all domains. Cut-offs were determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types.

     
  6.  
  7.   Geological and block models for the Mineral Resource Estimate used data from a total of 113 surface drill holes (66 in the Main Zone and 47 in the East Zone). The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by Canada Nickel, and by comparison of umpire assays performed at a second laboratory.

     
  8.  
  9.   Estimates have been rounded to two significant figures.

     
  10.  
  11.   The mineral resource estimates have been constrained by conceptual pit envelopes using the following optimization parametres. Metal prices used (US$) were $7.75 /lb nickel, $15 /lb cobalt, $$290/tonne iron, $1.04 /lb chromium, $1,600 /oz Pd, and $800 /oz Pt. Different pit slopes were used for each layer (in degrees): 9.5 in clay, 21.8 in gravel and 45 in rock. Exchange rate utilized was US$/C$ of $0.75 . Mining costs utilized different values for overburden (clay, gravel), selective mining and bulk mining ranging from C$1.75 to C$3.15 /t mined. Processing costs and G&A for 100ktpd operation were C$6.18 /t. Based on the range of grade and ratio of sulphur to nickel at Crawford, recovery could be expected to range from 10% - 60%. It has also been assumed that 30 – 40% of total iron would be recovered to a saleable magnetite concentrate.

     
  12.  
  13.   The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines ( November 29, 2019 ).
       
    MAIN ZONE:

     
     
  14.  
  15.   The geological model as applied to the Mineral Resource Estimate for the Main Zone comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (largely dunite) and two northern and southern lower grade envelopes (combination of dunite and peridotite). Individual wireframes were created for each domain.  
  16.  
  17.   The block model was prepared using Isatis.neo 2022. A 20 m x 20 m x 15 m block model was created and samples were composited at 7.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method.  
  18.  
  19.   Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.  
  20.  
  21.   Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, on the basis of 5,411   specific gravity measurements collected during the core logging process, using the same block model parametres of the grade estimation. As a reference, the average estimated density value within the higher-grade is 2.69 g/cm3 (t/m3), while low-grade domains of the resource model yielded averages of 2.67 g/cm3 (t/m3) in the north and 2.73 g/cm3 (t/m3) in the south.

       EAST ZONE:

     
     
  22.  
  23.   The geological model as applied to the Mineral Resource Estimate for the East Zone comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (largely dunite) and two northern and southern lower grade envelopes (largely peridotite). Individual wireframes were created for each domain.  
  24.  
  25.   The block model was prepared using Isatis.neo 2022. A 20 m x 20 m x 15 m block model was created and samples were composited at 7.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method.  
  26.  
  27.   Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.  
  28.  
  29.   Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, on the basis of 2,798 specific gravity measurements collected during the core logging process, using the same block model parametres of the grade estimation. As a reference, the average estimated density value within the higher-grade is 2.63 g/cm3 (t/m3), while low-grade domains of the resource model yielded averages of 2.72 g/cm3 (t/m3) in the north and 2.74 g/cm3 (t/m3) in the south.  
  30.  
 

  Table 1 – New Mineral Resource Estimate for the Crawford Nickel Sulphide Project, Ontario. (CNW Group/Canada Nickel Company Inc.) 

 
 
 

  Figure 1 – Largest Nickel Sulfide Projects Worldwide – Ranking Based on Measured & Indicated Resource. Source: Company filings, Wood Mackenzie, Capital IQ Pro. (CNW Group/Canada Nickel Company Inc.) 

 
 
 

  Figure 2 – Plan View of Crawford – Higher Grade & Lower Grade Zones Over Total Magnetic Intensity. (CNW Group/Canada Nickel Company Inc.) 

 
 
  Next Steps – Exploration:  
 

‒        A technical report with respect to the Mineral Resource Estimate Update disclosed today will be filed within 45 days as required by The National Instrument NI 43-101 – Standards of Disclosure of Mineral Projects.

 

‒        Mineralogical studies and metallurgical test work will continue through the fall of 2022 and will be incorporated into the Feasibility Study expected to be completed by the end of calendar 2022.

 

‒        Additional exploration drillholes in the East and Main Zones will be added to the resource once assays are received and any final drilling to upgrade any inferred resource remaining within the feasibility study mine plan.

 

‒        Regional exploration program remains ongoing.

 
Table 2 – Additional Drill Results from the Crawford Nickel Sulphide Project Main Zone Included in the Resource Estimate.
 
 
                                                                                                           
 

   Hole ID   

 
 

   From   

 
 

   To   

 
 

   Length   

 
 

   Est. True   

 
 

   Ni   

 
 

   Co   

 
 

   Pd   

 
 

   Pt   

 
 

   Cr   

 
 

   Fe   

 
 

   S   

 
 

   (m)   

 
 

   (m)   

 
 

   (m)   

 
 

   Width (m)   

 
 

   ( %)   

 
 

   ( %)   

 
 

   (g/t)   

 
 

   (g/t)   

 
 

   ( %)   

 
 

   ( %)   

 
 

   ( %)   

 
 

  CR21-154  

 
 

  72.0  

 
 

  636.0  

 
 

  564.0  

 
 

  323.5  

 
 

  0.23  

 
 

  0.012  

 
 

  0.028  

 
 

  0.016  

 
 

  0.62  

 
 

  6.72  

 
 

  0.02  

 
 

   including   

 
 

  168.0  

 
 

  438.0  

 
 

  270.0  

 
 

  154.9  

 
 

  0.27  

 
 

  0.011  

 
 

  0.081  

 
 

  0.028  

 
 

  0.63  

 
 

  6.57  

 
 

  0.03  

 
 

  CR21-166  

 
 

  49.1  

 
 

  583.0  

 
 

  533.9  

 
 

  343.2  

 
 

  0.23  

 
 

  0.015  

 
 

  0.038  

 
 

  0.027  

 
 

  0.60  

 
 

  7.42  

 
 

  0.04  

 
 

   including   

 
 

  49.1  

 
 

  103.5  

 
 

  54.4  

 
 

  35.0  

 
 

  0.27  

 
 

  0.015  

 
 

  0.011  

 
 

  0.010  

 
 

  0.60  

 
 

  7.21  

 
 

  0.05  

 
 

   and   

 
 

  124.5  

 
 

  139.5  

 
 

  15.0  

 
 

  9.6  

 
 

  0.31  

 
 

  0.017  

 
 

  0.131  

 
 

  0.074  

 
 

  0.54  

 
 

  7.15  

 
 

  0.18  

 
 

  CR21-176  

 
 

  36.0  

 
 

  741.0  

 
 

  705.0  

 
 

  241.1  

 
 

  0.28  

 
 

  0.013  

 
 

  0.012  

 
 

  0.006  

 
 

  0.57  

 
 

  6.29  

 
 

  0.05  

 
 

   including   

 
 

  465.0  

 
 

  741.0  

 
 

  276.0  

 
 

  94.4  

 
 

  0.32  

 
 

  0.013  

 
 

  0.017  

 
 

  0.006  

 
 

  0.43  

 
 

  7.08  

 
 

  0.08  

 
 
 
 
Table 3 – Additional Drill Results from the Crawford Nickel Sulphide Project East Zone Included in the Resource Estimate.
 
 
                                                                                                                                                                                               
 

   Hole ID   

 
 

   From   

 
 

   To   

 
 

   Length   

 
 

   Est. True   

 
 

   Ni   

 
 

   Co   

 
 

   Pd   

 
 

   Pt   

 
 

   Cr   

 
 

   Fe   

 
 

   S   

 
 

   (m)   

 
 

   (m)   

 
 

   (m)   

 
 

   Width (m)   

 
 

   ( %)   

 
 

   ( %)   

 
 

   (g/t)   

 
 

   (g/t)   

 
 

   ( %)   

 
 

   ( %)   

 
 

   ( %)   

 
 

  CR21-118  

 
 

  21.0  

 
 

  504.0  

 
 

  483.0  

 
 

  241.5  

 
 

  0.23  

 
 

  0.013  

 
 

  0.015  

 
 

  0.012  

 
 

  0.64  

 
 

  5.89  

 
 

  0.04  

 
 

   including   

 
 

  276.0  

 
 

  339.0  

 
 

  63.0  

 
 

  31.5  

 
 

  0.27  

 
 

  0.013  

 
 

  0.066  

 
 

  0.030  

 
 

  0.67  

 
 

  5.29  

 
 

  0.03  

 
 

  CR21-151  

 
 

  32.3  

 
 

  284.0  

 
 

  251.7  

 
 

  161.8  

 
 

  0.20  

 
 

  0.012  

 
 

  0.007  

 
 

  0.007  

 
 

  0.59  

 
 

  6.98  

 
 

  0.04  

 
 

   including   

 
 

  42.0  

 
 

  87.0  

 
 

  45.0  

 
 

  28.9  

 
 

  0.26  

 
 

  0.012  

 
 

  0.003  

 
 

  0.005  

 
 

  0.68  

 
 

  5.87  

 
 

  0.06  

 
 

  CR21-161A  

 
 

  21.0  

 
 

  432.0  

 
 

  411.0  

 
 

  95.9  

 
 

  0.25  

 
 

  0.013  

 
 

  0.031  

 
 

  0.012  

 
 

  0.61  

 
 

  6.15  

 
 

  0.14  

 
 

   including   

 
 

  313.5  

 
 

  360.0  

 
 

  46.5  

 
 

  10.9  

 
 

  0.30  

 
 

  0.017  

 
 

  0.047  

 
 

  0.016  

 
 

  0.53  

 
 

  6.68  

 
 

  0.25  

 
 

   and   

 
 

  393.0  

 
 

  418.5  

 
 

  25.5  

 
 

  6.0  

 
 

  0.37  

 
 

  0.017  

 
 

  0.228  

 
 

  0.060  

 
 

  0.58  

 
 

  6.83  

 
 

  0.29  

 
 

   and   

 
 

  316.5  

 
 

  324.0  

 
 

  7.5  

 
 

  1.8  

 
 

  0.44  

 
 

  0.022  

 
 

  0.061  

 
 

  0.017  

 
 

  0.68  

 
 

  8.35  

 
 

  0.44  

 
 

  CR21-164  

 
 

  33.0  

 
 

  210.0  

 
 

  177.0  

 
 

  60.5  

 
 

  0.20  

 
 

  0.010  

 
 

  0.006  

 
 

  0.006  

 
 

  0.57  

 
 

  5.80  

 
 

  0.04  

 
 

  CR21-168A  

 
 

  28.4  

 
 

  420.0  

 
 

  391.6  

 
 

  133.9  

 
 

  0.20  

 
 

  0.012  

 
 

  0.005  

 
 

  0.005  

 
 

  0.59  

 
 

  6.58  

 
 

  0.03  

 
 

   including   

 
 

  28.4  

 
 

  190.5  

 
 

  162.1  

 
 

  55.4  

 
 

  0.27  

 
 

  0.012  

 
 

  0.005  

 
 

  0.005  

 
 

  0.65  

 
 

  5.79  

 
 

  0.03  

 
 

  CR21-174  

 
 

  27.0  

 
 

  630.0  

 
 

  603.0  

 
 

  52.6  

 
 

  0.23  

 
 

  0.012  

 
 

  0.007  

 
 

  0.007  

 
 

  0.63  

 
 

  6.13  

 
 

  0.04  

 
 

   including   

 
 

  481.5  

 
 

  630.0  

 
 

  148.5  

 
 

  12.9  

 
 

  0.27  

 
 

  0.012  

 
 

  0.005  

 
 

  0.004  

 
 

  0.68  

 
 

  5.84  

 
 

  0.04  

 
 

   and   

 
 

  27.0  

 
 

  61.5  

 
 

  34.5  

 
 

  3.0  

 
 

  0.31  

 
 

  0.014  

 
 

  0.018  

 
 

  0.007  

 
 

  0.69  

 
 

  5.86  

 
 

  0.07  

 
 
 
 
Table 4: Drill Hole Orientation.
 
 
                                                                             
 

   Hole ID   

 
 

   Easting   

 
 

   Northing   

 
 

   Azimuth   

 
 

   Dip   

 
 

   Length   

 
 

   (mE)   

 
 

   (mN)   

 
 

   (⁰)   

 
 

   (⁰)   

 
 

   (m)   

 
 

  CR21-118  

 
 

  474,795  

 
 

  5,409,961  

 
 

  180  

 
 

  -60.0  

 
 

  483.0  

 
 

  CR21-151  

 
 

  474,125  

 
 

  5,409,970  

 
 

  185  

 
 

  -50.0  

 
 

  251.7  

 
 

  CR21-154  

 
 

  472,409  

 
 

  5,409,162  

 
 

  45  

 
 

  -55.0  

 
 

  564.0  

 
 

  CR21-161A  

 
 

  473,929  

 
 

  5,409,974  

 
 

  180  

 
 

  -76.5  

 
 

  411.0  

 
 

  CR21-164  

 
 

  474,600  

 
 

  5,409,830  

 
 

  0  

 
 

  -70.0  

 
 

  177.0  

 
 

  CR21-166  

 
 

  471,878  

 
 

  5,409,938  

 
 

  265  

 
 

  -50.0  

 
 

  533.9  

 
 

  CR21-168A  

 
 

  474,701  

 
 

  5,409,800  

 
 

  360  

 
 

  -70.0  

 
 

  391.6  

 
 

  CR21-174  

 
 

  474,858  

 
 

  5,409,884  

 
 

  168  

 
 

  -85.0  

 
 

  603.0  

 
 

  CR21-176  

 
 

  473,421  

 
 

  5,408,875  

 
 

  210  

 
 

  -70.0  

 
 

  705.0  

 
 

  CR22-198  

 
 

  473,562  

 
 

  5,408,735  

 
 

  205  

 
 

  -75.0  

 
 

  1,044.0  

 
 

  CR22-230  

 
 

  473,822  

 
 

  5,409,953  

 
 

  230  

 
 

  -70.0  

 
 

  1,155.0  

 
 
 
 
Assays, Quality Assurance/Quality Control and Drilling and Assay
 

  Edwin Escarraga , MSc, P.Geo., a "qualified person" as defined by National Instrument 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. One set of samples is transported in secure bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao ( Peru ). All 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 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 Sulphide Property 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 project mine plan, 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.

 
 

  Figure 3 – Plan View of Crawford – 2022 M&I Resource versus 2021 M&I Resource (CNW Group/Canada Nickel Company Inc.) 

 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/updated-mineral-resource-estimate-doubles-measured--indicated-resources-at-canada-nickels-crawford-nickel-sulphide-project-301580909.html  

 

SOURCE Canada Nickel Company Inc. 

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/July2022/06/c9274.html  

 
 

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  Highlights  

 
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  •  
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Canada Nickel Announces Results from Crawford PGM Zone Infill Drilling Campaign

 
 

  Highlights  

 
  • Successful infill drilling campaign targeted PGM Zones at Crawford with 45 holes intersecting drill intervals of > 1g/t palladium + platinum
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  • Results include:
    • 2.19 g/t palladium + platinum over core length of 76.5 metres in Crawford Main Zone including 3.90 g/t over core length of 13.5 metres
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    • 1.15 g/t palladium + platinum over 38.5 metres in Crawford East Zone including 2.94 g/t over core length of 4.5 metres
    •  
  •  
  • PGM results will be included in development of a Crawford PGM Zone resource estimate and incorporated into the Crawford nickel mine plan
  •  

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced additional results from its drilling program targeting the PGM zones that occur along the Crawford Main and East Zone boundaries and within the existing mine plan outlined in the Crawford Nickel Project feasibility study.

 

 

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Canada Nickel Provides Update on Crawford Project Optimization and Commencement of Pilot Plant Operation

Canada Nickel Provides Update on Crawford Project Optimization and Commencement of Pilot Plant Operation

 
 

   Highlights   

 
  •   Testwork demonstrates opportunity for improvements in recovery from the Crawford East Zone  
    •   Locked cycle test delivered a 60% nickel sulphide concentrate – believed to be world's highest nickel grade sulphide concentrate produced – and a total nickel recovery of 47% exceeding the feasibility study model by 9%  
    •  
    •   Ten new open circuit variability tests demonstrated nickel recoveries averaging 28% higher than the feasibility study model  
    •  
  •  
  •   Pilot plant program initiated at SGS Lakefield  
  •  

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV:CNC) (OTCQX:CNIKF) is pleased to announce the successful completion of further metallurgical testing on Crawford East Zone material.

 

 

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Canada Nickel Company Announces Initial Deloro Nickel Sulphide Project Resource

Canada Nickel Company Announces Initial Deloro Nickel Sulphide Project Resource

 
 

  Highlights:  

 
  • First of seven new nickel resources expected to be published by end of the first quarter of 2025 demonstrating the potential scale of the Timmins Nickel District
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  • Initial Deloro indicated Resource of 81 million tonnes grading 0.25% nickel containing 202kt of nickel plus a further Inferred Resource of 357 million tonnes grading 0.25% nickel containing 885kt of nickel
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  • Seven exploration rigs currently drilling across the Timmins Nickel District
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Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQB: CNIKF) today announced an initial mineral resource for its 100% owned Deloro Nickel Sulphide Project ("Deloro") near Timmins, Ontario .

 

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Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

 
 

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced that it has closed a secured loan facility with Auramet International, Inc. ("Auramet") of US$15 million previously announced on June 24, 2024 .

 
 

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

 

The loan is due January 9, 2025 , carries an interest rate of 1.00% per month, and is subject to a 2.5% arrangement fee.  At closing, Auramet also received 750,000 1-year warrants with a strike price of $1.42 per common share. The loan is subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares are subject to a four month hold period under applicable Canadian securities laws. The Company expects to use the proceeds from the loan for working capital purposes.

 

  About Auramet  

 

Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 million ounces of PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. Auramet is proud to have been awarded a Gold Medal the past two years for its ESG commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies. For more information on Auramet, please visit www.auramet.com .

 

  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™, NetZero Cobalt™, 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 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  
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, the use of proceeds from the loan, the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. 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. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; 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 applicable laws; 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. 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.

 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-closes-previously-announced-us15-million-loan-facility-with-auramet-international-inc-302192435.html  

 

SOURCE Canada Nickel Company Inc. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/09/c7393.html  

 
 

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FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

 
 

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

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Cygnus Metals Limited: Issue of Performance Rights

Cygnus Metals Limited: Issue of Performance Rights

 

Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued an aggregate of 67,050,000 performance rights ("Performance Rights") to directors, and key employees and consultants, under the Company's Omnibus Equity Incentive Plan ("Plan").

 

Shareholders approved the Plan and the issue of Performance Rights to directors at the Company's annual general meeting held on May 14, 2025. The Performance Rights to key personnel were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

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Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce the 2025 exploration program is nearing completion at its wholly-owned Adams Plateau Project (the "Project") in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX project.

Gary Thompson, CEO of Silver47, stated: "We are glad to continue our work on Adams Plateau toward defining drill targets on this road-accessible project. The abundance of surface mineralization on the Project is very encouraging for the potential of new and exciting discoveries. The Company has received a 5-year permit for drilling. This year is shaping up to be transformational for the Company with a full season of drilling at the flagship Red Mountain Project and the pending merger with Summa Silver."

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Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

 

   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

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Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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