Canada Nickel Announced Major Discovery in Ontario
- January 19, 2023
- Posted by: Quatro Strategies
- Category: Mining
Canada Nickel has released a positive analysis result for its Reid property in Ontario as a major nickel discovery with a target footprint larger than its flagship Crawford nickel-cobalt discovery. The results include an additional nine holes on top of the seven holes reported in December, when Reid’s potential upside was first underlined. The new holes generally returned 100 to 470 metres of predominantly nickel sulphide mineralization with grades ranging from 0.2% to 0.31% nickel. Two holes had mineralization of over 500 metres width, approximately 50% wider than Crawford Main Zone and more than 100% wider than Crawford East Zone.
Canada Nickel CEO Selby said the grades and mineralization at Reid were consistent with what the company had found at the East Zone deposit at Crawford.
“The success of this initial drilling, targeted solely with our team’s proprietary approach using provincial geophysical data, highlights the significant potential of our total regional land package with over 42 km2 of target geophysical footprint which is more than 20 times larger than our flagship Crawford project,” Selby said in a press release.
With the latest findings, the Reid project now represents another bulk-tonnage discovery anchored by Crawford, which Canada Nickel says contains the fifth-largest nickel sulphide resource globally at 2.1 billion tonnes grading 0.24% nickel. A preliminary economic assessment for the Crawford project based on prior resource estimates outlined a 25-year operation capable of producing 842,000 tonnes of the metal.
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