Canada Nickel Company Inc., Toronto, Canada, (TSX-V:CNC) (OTCQB: CNIKF) has announced preliminary results from the start of its drill program at the MacDiarmid Nickel Project located 23 kilometres southwest of the Company’s initial Crawford nickel-cobalt project in Ontario’s Timmins-Cochrane camp, Canada. Assays are pending on all holes.
Mark Selby, Chair & CEO said, “We are very pleased to have made a second discovery, following our initial success in Crawford Township. The first three holes drilled at MacDiarmid returned significant intersections of mineralized dunite similar to the average mineralization we initially discovered at Crawford. The results of our Preliminary Economic Assessment for Crawford will now be released on May 25th with a conference call to be held the following morning at 10 am EDT May 26th.”
Steve Balch, VP Exploration said, “These results confirm the success of our geophysical targeting approach by successfully drilling our first new target identified on our option properties. We look forward to drilling the other targets identified across our four additional nickel properties, and our recently added sixth target at Bradburn/Dargavel.”
The MacDiarmid Project is located 15 kilometres west of the world-class Kidd Creek Mine and 23 kilometres southwest of the Company’s initial discoveries in Crawford Township. The Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well established, major infrastructure associated with over 100 years of regional mining activity.
MacDiarmid Nickel Project
The MacDiarmid ultramafic intrusion (“MUI”) is approximately 3 kilometres long and 150 to 600 metres wide with the primary target a set of coincident geophysical anomalies of 1.8 kilometres long and up to 400 metres wide. Three holes were collared on the eastern side of the intrusion spaced 200 metres apart and were designed to intersect dunite-peridotite at right angles to the strike direction of the MUI. Mineralization has been defined across a strike length of 400 metres to a maximum depth of 360 metres and widths of 150-200 metres. All holes were drilled to the south (205o azimuth) at -50o inclination.
Full press release HERE
About Canada Nickel Company
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 applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM 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.