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Canada Nickel Announces Positive Regional Exploration Results including Best Regional Exploration Result to Date at Midlothian

by ahnationtalk on January 24, 202550 Views

  • Midlothian: entire mineralized core length of 470 metres of 0.31% nickel, including 13.5 metres of 0.41% nickel in hole MID24-15
  • Bannockburn: All eight holes yielded well-mineralized intervals with five of eight holes containing intervals > 0.3% nickel.
  • Deloro: All eleven holes intersected well-mineralized intervals including hole DEL24-28 with 371 metres of 0.27% nickel including 39 metres of 0.30% nickel
  • Nesbitt: Drilling resumed with 382 metres of 0.22% nickel, including 27 metres of 0.27% nickel intersected in NES24-13
  • An additional regional resource to be published – total of eight resources by mid-2025

TORONTO, January 23, 2025 – Canada Nickel Company Inc. (“Canada Nickel” or the “Company”) (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce additional exploration drilling results from the Company’s Deloro, Bannockburn, Midlothian and Nesbitt properties. The Company completed over 118,000 metres of drilling on 14 properties during its successful 2024 drilling campaign, all located within 100 kilometres of the Timmins mining camp.

CEO Mark Selby said, “Today’s results from four separate regional properties continue to demonstrate the scale of the sulphide nickel potential of the Timmins Nickel District. Midlothian’s drilling results are showing consistent grades with an average grade that is the highest to date of all the Company’s regional properties. Bannockburn drilling continues to yield excellent results – including identification of other high-grade targets as well as the intersection of a higher-grade zone within the bulk tonnage zone. We continue to successfully infill and extend the resource at Deloro, and we have successfully resumed drilling at Nesbitt, which is located just seven kilometres from Crawford, and which will become an additional resource by mid-2025.”

Regional Exploration Programs

The Company now expects to publish a total of eight additional regional resources by mid-2025. Reid and Deloro have already been published and resources at Bannockburn, Mann Central, Mann West, Midlothian, Nesbitt, and Texmont are expected to further demonstrate the scale of nickel resources within the Timmins Nickel District.

Bannockburn Property

The Bannockburn Property is located 65 kilometres south of Timmins and approximately 20 kilometres west of Matachewan, Ontario. The property has multiple targets including two high-grade nickel zones. The B-zone geophysical target is the largest target consisting of a bulk tonnage nickel zone with approximately 1.6 kilometres of strike length and up to 700 m wide. The Company completed infill drilling on the B-Zone with nine holes drilled in the fall of 2024 (Figure 1). This release has results for seven of the nine drillholes. All holes were drilled through long intersections of strongly serpentinized and mineralized ultramafic rocks. With this drilling and the data collected in 2023, the company intends to produce a resource estimate by mid- 2025.

A single hole (BAN24-10) was drilled into the smaller D-zone to the northwest, confirming continuation of the mineralized ultramafic body almost 1 kilometre northwest of the main B-zone. The D-zone will need further drilling to test its potential extension from and connection to the B-zone (Figure 1).

Canada Nickel has also followed up on other prospective targets that tested for higher-grade material. Historically, higher grade intervals have been drilled at Bannockburn, within the C-zone and the F-zone. The company is planning to target the F-zone with a summer program, following up the positive results and promising geophysical downhole surveys from holes BAN24-18 and BAN24-21. See news releases of November 11 and December 5 of 2024 for those results.

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