Successful infill drilling at Reid continues including a total of 643 metres of 0.26% nickel in REI24-43; initial resource expected before end of 2024
First assays from 2024 drilling at Mann West yield excellent results including 330 metres of 0.26% nickel in MAN24-58 including a total of 24.5 metres of 0.35% nickel; initial resource estimate expected by Q1 2025
Multiple gold intervals in Mann North drilling including 4.5 metres of 2.36 g/t gold within 45 metres of 0.45 g/t gold at MAN24-67
Over 100,000 metres successfully drilled on regional properties to date in 2024
TORONTO, Oct. 31, 2024 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce results from its ongoing exploration programs at Reid, Mann and Reaume as several regional properties are being advanced to an initial resource stage. The Company's 2024 regional exploration program remains on-track with over 100,000 metres of drilling completed on 14 properties, all located within 100 kilometres of Timmins, Ontario.
Figure-1-Reid---CNC-drillholes-over-total-magenetic-intensity (CNW Group/Canada Nickel Company Inc.)
Figure-2-Mann-Property (CNW Group/Canada Nickel Company Inc.)
Figure-3-Mann-West (CNW Group/Canada Nickel Company Inc.)
Figure4-Mann-CE (CNW Group/Canada Nickel Company Inc.)
Fig-5-Mann-North (CNW Group/Canada Nickel Company Inc.)
Fig-6-Mann-North-Au (CNW Group/Canada Nickel Company Inc.)
Figure-7-Reaume (CNW Group/Canada Nickel Company Inc.)
CEO Mark Selby said, "We continue to demonstrate the potential of the Timmins Nickel District with today's drilling results from five separate properties. The results today highlight the shallow, well-mineralized large-scale potential of Mann West. Infill drilling at Reid continues to deliver long well-mineralized intervals and we are on-track for an initial resource at Reid before year end. Mann Central has yielded multiple intervals of well-mineralized peridotite across a 1.9 kilometre strike length."
Mr. Selby continued, "We typically encounter platinum and palladium precious metals in the Timmins Nickel district, but at our Mann North property, we intersected multiple gold intervals such as 45 metres of 0.45 g/t including 4.5 metres of 2.36 g/t gold."
Reid
The Reid property is located just 16 kilometres southwest of Crawford and contains a geophysical target of 3.9 square kilometres which is nearly 2.4 times larger than Crawford.
Canada Nickel has completed 26,061 metres from 41 holes drilled during its 2024 drill program at Reid. The drill campaigns of 2023 and 2024 have delineated a mineralized ultramafic body with a strike length of 2.2 kilometres and width up to 1.0 kilometres and up to a depth of 650 metres within the central core of the target geophysical footprint, with a total of 32,893 metres in 57 drillholes. The anomaly remains open to the north, south and at depth (see Figure 1).
Assays are presented on this release for seven holes, with the results for seven more holes pending. All holes drilled intersected long mineralized intervals comprised of mainly dunite and minor peridotite. REI24-46 was drilled near the east end of the anomaly and intersected targeted higher grade nickel mineralization, confirming the continuity on strike of at least one higher grade horizon that is oriented NW-SE.
The Company remains on track to produce an initial resource at Reid, expected before year end 2024.
Table 1 – Drilling highlights Reid program
Hole ID
From (m)
To (m)
Length (m)*
Ni %
Co %
Pd g/t
Pt g/t
Cr %
Fe %
S %
REI24-41
40.5
116.0
75.5
0.24
0.011
0.003
0.005
0.826
5.484
0.067
and
216.0
706.0
490.0
0.19
0.014
0.012
0.012
0.588
7.506
0.047
REI24-43
27.0
469.2
442.2
0.26
0.012
0.003
0.005
0.817
5.518
0.044
and
494.7
696.0
201.3
0.25
0.012
0.009
0.006
0.936
5.797
0.055
REI24-45
44.6
191.6
147.0
0.19
0.013
0.003
0.003
0.468
6.828
0.018
and
216.0
382.1
166.1
0.22
0.012
0.006
0.004
0.462
5.675
0.032
and
394.0
585.4
191.4
0.25
0.012
0.019
0.011
0.618
5.635
0.047
REI24-46
38.0
702.0
664.0
0.23
0.013
0.022
0.013
0.616
6.967
0.098
including
256.5
264.0
7.5
0.30
0.015
0.073
0.050
0.404
7.586
0.156
including
414.0
447.0
33.0
0.30
0.012
0.013
0.005
0.679
7.730
0.128
Including
586.5
595.5
9.0
0.35
0.018
0.004
0.003
0.755
6.067
0.112
REI24-47
48.3
303.0
254.7
0.26
0.012
0.003
0.003
0.798
5.581
0.027
and
335.5
450.8
115.3
0.24
0.011
0.003
0.003
0.781
5.880
0.034
and
477.0
699.4
222.4
0.19
0.013
0.011
0.015
0.568
7.565
0.033
REI24-48
56.8
126.4
69.6
0.22
0.011
0.023
0.008
0.598
6.982
0.042
and
210.0
702.0
492.0
0.21
0.013
0.003
0.003
0.632
6.431
0.031
REI24-50
51.0
144.0
93.0
0.25
0.012
0.003
0.003
0.877
5.558
0.048
and
161.0
314.0
153.0
0.24
0.012
0.005
0.003
0.921
5.425
0.035
and
327.3
532.2
204.9
0.27
0.011
0.004
0.003
0.928
5.492
0.058
including
354.0
381.0
27.0
0.30
0.011
0.005
0.005
0.917
5.037
0.072
REI24-52
36.3
750.0
713.7
0.24
0.013
0.007
0.006
0.64
6.03
0.053
including
309.0
321.0
12.0
0.48
0.019
0.058
0.032
0.60
6.68
0.121
and
415.5
489.0
73.5
0.34
0.013
0.022
0.012
0.57
6.01
0.103
*True width undetermined. All lengths are drillhole lengths.
Mann Property
The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane. The Company has completed a drill program in three of the four identified areas within the property, Mann North, Mann West (together formerly Mann Northwest), and Central. (Figure 2). Exploration at Mann South is currently underway. Canada Nickel currently owns 80% of the Mann Property after successfully completing an earlier earn-in agreement with Noble Mineral Exploration. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.
Mann West
Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program has focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 40 holes to date at Mann West (Figure 3), 31 of which were drilled during the 2024 program. With this drilling, the Company has completed the first phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays from nine holes are presented in this release, with the remaining holes at Mann West still pending.
Table 2 – Mann West drilling highlights.
Hole ID
From (m)
To (m)
Length (m)*
Ni %
Co %
Pd g/t
Pt g/t
Cr %
Fe %
S %
MANN WEST
MAN24-33
11.2
396.0
384.8
0.24
0.011
0.009
0.008
0.35
6.48
0.028
including
174.0
183.0
9.0
0.30
0.014
0.018
0.011
0.18
6.34
0.100
MAN24-37
8.7
180.0
171.3
0.26
0.011
0.005
0.006
0.15
6.04
0.037
and
236.4
402.0
165.6
0.26
0.012
0.008
0.007
0.24
6.26
0.071
including
267.0
273.0
6.0
0.37
0.013
0.004
0.005
0.30
7.73
0.100
and
361.5
369.0
7.5
0.38
0.013
0.078
0.043
0.18
6.35
0.162
MAN24-45
6.2
402.0
395.8
0.24
0.013
0.016
0.010
0.39
6.60
0.235
including
136.5
144.0
7.5
0.30
0.014
0.044
0.015
0.75
6.99
0.086
MAN24-49
5.4
198.2
192.8
0.19
0.013
0.029
0.017
0.41
7.44
0.081
and
221.6
402.0
180.4
0.21
0.011
0.003
0.006
0.42
6.69
0.033
MAN24-54
49.5
192.8
143.3
0.26
0.011
0.003
0.003
0.13
5.80
0.045
and
216.5
402.0
185.5
0.27
0.012
0.012
0.007
0.28
6.22
0.029
including
268.5
277.5
9.0
0.48
0.019
0.003
0.003
0.62
7.86
0.015
MAN24-58
21.0
351.0
330.0
0.26
0.013
0.015
0.007
0.24
6.51
0.076
including
193.5
204.5
11.0
0.35
0.015
0.023
0.009
0.44
6.86
0.110
and
307.5
321.0
13.5
0.36
0.016
0.040
0.018
0.19
7.17
0.130
MAN24-62
8.6
501.0
492.4
0.18
0.014
0.041
0.026
0.31
7.88
0.047
MAN24-69
7.2
229.5
222.3
0.19
0.013
0.022
0.015
0.38
7.35
0.054
and
264.0
491.0
227.0
0.19
0.013
0.004
0.005
0.41
7.35
0.023
MAN24-71
23.5
260.5
237.0
0.27
0.012
0.011
0.009
0.25
6.29
0.082
including
63.0
108.0
45.0
0.37
0.013
0.036
0.018
0.15
5.77
0.196
and
302.2
501.0
198.8
0.17
0.012
0.014
0.032
0.36
7.56
0.027
*True width undetermined. All lengths are drillhole lengths.
Mann Central
The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes and 11,853 metres. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for 13 drillholes (Table 3), all of which intersected varying degrees of mineralized peridotite with minor pyroxenite dykes.
Mafic volcanics with abundant sulphide mineralization in the north contact were intersected in eight holes including MAN24-32 which yielded 3.3 metres of 1.03% nickel, 0.31% cobalt, and 0.57 % copper. Assays are still pending for 10 drillholes and the results from nine drillholes were previously released (see press release September 10, 2024).
Table 3 – Mann Central drilling highlights.
Hole ID
From (m)
To (m)
Length (m)*
Ni %
Co %
Pd g/t
Pt g/t
Cr %
Fe %
S %
MAN24-19
3.0
304.0
301.0
0.18
0.012
0.008
0.006
0.42
7.36
0.037
and
384.0
396.8
12.8
0.18
0.010
0.003
0.008
0.33
6.29
0.083
MAN24-22
9.0
552.0
543.0
0.24
0.012
0.005
0.006
0.17
5.90
0.057
Including
195.0
207.0
12.0
0.29
0.013
0.022
0.008
0.14
5.66
0.082
MAN24-26
12.0
55.5
43.0
0.25
0.011
0.003
0.008
0.18
5.85
0.101
and
100.5
399.0
298.5
0.23
0.011
0.004
0.003
0.16
6.22
0.052
MAN24-32
90.0
402.0
312.0
0.21
0.015
0.004
0.004
0.27
6.42
0.121
including
96.0
99.3
3.3
1.03
0.308
0.026
0.013
0.14
19.78
4.840
MAN24-34
75.0
259.0
184.0
0.22
0.011
0.008
0.008
0.31
6.79
0.044
and
297.0
402.0
105.0
0.24
0.011
0.007
0.008
0.22
5.97
0.080
MAN24-35
25.2
144.3
119.1
0.22
0.012
0.003
0.004
0.24
6.74
0.051
and
161.0
387.0
226.0
0.18
0.013
0.005
0.006
0.40
7.39
0.030
MAN24-39
97.5
171.0
73.5
0.19
0.011
0.007
0.007
0.45
7.28
0.049
MAN24-40
103.3
153.0
49.7
0.24
0.012
0.004
0.004
0.26
6.10
0.071
and
141.0
396.0
255.0
0.21
0.012
0.005
0.005
0.41
7.05
0.031
MAN24-43
76.7
182.4
105.7
0.22
0.012
0.005
0.006
0.22
6.37
0.114
and
205.4
402.0
196.6
0.23
0.012
0.003
0.005
0.38
6.56
0.033
MAN24-44
43.0
186.7
143.7
0.21
0.011
0.004
0.004
0.30
6.65
0.029
and
195.0
402.0
207.0
0.19
0.013
0.005
0.007
0.415
7.176
0.030
MAN24-52
11.4
46.7
35.3
0.31
0.037
0.003
0.006
0.169
5.794
0.176
and
73.0
400.0
327.0
0.20
0.013
0.004
0.005
0.390
6.779
0.028
MAN24-56B
45.0
402.0
357.0
0.20
0.013
0.003
0.005
0.411
7.126
0.022
MAN24-60
31.9
241.2
209.3
0.20
0.013
0.007
0.007
0.369
6.920
0.060
and
277.5
310.9
33.4
0.26
0.015
0.003
0.004
0.055
8.981
0.057
*True width undetermined. All lengths are drillhole lengths.
Mann North
The Mann North target is approximately 1.5 kilometres long by 600 metres wide (0.9 square kilometres) (Figure 4). Drilling was completed during the summer of 2024 and consisted of a preliminary exploratory phase of 16 drillholes totaling 6,315 metres. The majority of these holes intersected long sections of peridotite, with minor dunite (Table 4) with nickel grades in the peridotite consistent with Crawford. The peridotites, however, have anomalous values of platinum (Pt) and palladium (Pd) over significant intervals, as seen on Table 5. Hole MAN24-31, for example, intersected 12.7 metres of 0.58 g/t Pt+Pd and MAN24-50 intersected 16.7 metres of 0.50 g/t Pt+Pd.
In addition to the anomalous Pt and Pd, the ultramafic units at Mann also have higher values for gold, especially near certain contacts. The intersections can be high grade and narrow such as in MAN23-12 which intersected 4.93 g/t gold over 1.5 metres or can be thicker and lower grade such as in MAN24-67 which intersected 0.45 g/t gold over 45.0 metres. Nine of 15 of the drillholes at Mann North assayed to date include gold intersections of 0.4 g/t gold or higher. Significant intersections are summarized in Table 6.
Assays are pending for three remaining holes.
Table 4 – Mann North drilling highlights
Hole ID
From (m)
To (m)
Length (m)*
Ni %
Co %
Pd g/t
Pt g/t
Cr %
Fe %
S %
MAN24-24
39.0
109.5
70.5
0.15
0.010
0.004
0.003
0.43
6.77
0.061
MAN24-31
28.4
519.0
490.6
0.18
0.012
0.013
0.022
0.38
6.88
0.061
including
57.0
72.0
15.0
0.30
0.014
0.044
0.024
0.28
6.47
0.280
MAN24-36
21.0
408.0
387.0
0.21
0.012
0.012
0.010
0.50
6.93
0.063
MAN24-46
18.8
312.5
293.7
0.17
0.012
0.005
0.007
0.40
7.54
0.028
and
327.9
399.0
71.1
0.17
0.014
0.012
0.008
0.39
8.25
0.057
MAN24-47
18.0
402.0
384
0.18
0.012
0.006
0.008
0.48
7.36
0.035
MAN24-50
21.5
280.6
259.1
0.15
0.012
0.004
0.005
0.45
7.54
0.024
and
313.5
390.0
76.5
0.18
0.013
0.010
0.011
0.41
7.29
0.051
MAN24-51
45.0
171.0
126
0.16
0.013
0.008
0.010
0.44
7.76
0.030
and
196.0
402.0
206
0.16
0.012
0.005
0.005
0.34
7.25
0.032
MAN24-53
15.0
402.0
387
0.11
0.012
0.007
0.010
0.33
8.07
0.032
MAN24-55
17.4
177.8
160.4
0.18
0.013
0.005
0.005
0.53
7.56
0.046
and
352.5
402.0
49.5
0.19
0.012
0.007
0.017
0.36
6.67
0.039
MAN24-59
31.5
402.0
370.5
0.15
0.012
0.010
0.011
0.38
7.19
0.044
MAN24-63
132.5
267.0
134.5
0.20
0.012
0.019
0.016
0.38
7.34
0.072
including
142.5
156.0
13.5
0.34
0.012
0.060
0.031
0.14
7.20
0.020
and
311.2
462.0
150.8
0.18
0.012
0.005
0.006
0.43
7.20
0.024
MAN24-67
15.6
420.0
404.4
0.15
0.012
0.025
0.021
0.36
7.72
0.039
including
327.0
348.0
21.0
0.23
0.013
0.081
0.043
0.55
7.79
0.141
Table 5 – Mann Properties PGM Highlights
Hole ID
From
(m)
To
(m)
Length
(m)
Pt+Pd
(g/t)
Pd
g/t)
Pt
(g/t)
Ni
(%)
Co
(%)
Cr
(%)
Fe
(%)
S
(%)
MAN24-49
201.0
219.0
18.0
0.51
0.30
0.21
0.04
0.007
0.37
4.58
0.021
MAN24-62
309
327
18.0
0.44
0.31
0.13
0.18
0.015
0.49
8.11
0.054
MAN24-35
390.0
402.0
12.0
0.33
0.11
0.22
0.06
0.011
0.48
7.49
0.014
MAN24-60
242.1
265.5
23.4
0.43
0.25
0.18
0.03
0.007
0.36
5.01
0.014
and
345.0
360.0
15.0
0.42
0.26
0.16
0.03
0.007
0.34
5.41
0.015
MAN24-69
238.0
255.0
17.0
0.45
0.26
0.19
0.04
0.007
0.39
4.76
0.013
MAN24-31
118.5
131.2
12.7
0.58
0.22
0.36
0.03
0.007
0.28
4.55
0.012
MAN24-38
125.0
138.0
13.0
0.32
0.21
0.11
0.02
0.007
0.28
6.79
0.024
and
285.0
292.6
7.6
0.47
0.21
0.26
0.05
0.011
0.29
6.21
0.013
and
382.5
396.2
13.7
0.39
0.18
0.21
0.05
0.012
0.36
5.64
0.018
MAN24-46
312.5
327.9
15.4
0.46
0.24
0.22
0.04
0.008
0.37
5.33
0.008
MAN24-50
280.6
297.3
16.7
0.50
0.33
0.17
0.03
0.007
0.38
5.07
0.011
MAN24-51
171.0
186.0
15.0
0.31
0.20
0.12
0.02
0.007
0.27
6.74
0.042
MAN24-55
288.0
337.0
49.0
0.33
0.17
0.17
0.02
0.007
0.25
6.33
0.038
MAN24-63
292.5
303.0
10.5
0.33
0.21
0.12
0.02
0.007
0.27
6.97
0.019
Table 6 – Mann Properties Gold Highlights
Hole ID
From
(m)
To
(m)
Length
(m)
Au
(g/t)
MAN24-19
382.5
384.0
1.5
0.40
MAN24-24
52.5
67.5
15.0
0.32
MAN24-31
57.0
58.5
1.5
0.41
MAN24-36
348.0
354.0
6.0
0.60
including
348.0
349.5
1.5
1.58
MAN24-51
289.5
304.5
15.0
0.36
Including
300.0
301.5
1.5
1.06
MAN24-55
396.0
399.0
3.0
0.36
MAN24-59
139.5
141.0
1.5
0.51
and
274.5
276.0
1.5
0.98
MAN24-67
115.5
160.5
45.0
0.45
including
118.5
121.5
3.0
1.15
and
147.0
151.5
4.5
2.36
Reaume
The Reaume property is located 20 kilometres northeast of Crawford, 15 kilometres southwest of Cochrane, and 55 kilometres northeast of Timmins. The property will form part of the ExploreCo subsidiary assets with Noble on an 80%-20% (Canada Nickel-Noble) ownership basis. Prior drill campaigns in 2022 had seasonal access constraints, however, in June 2024, the Company resumed exploration and intersected a mineralized portion of the ultramafic body consisting of moderate to strongly serpentinized peridotite containing spotty, coarse-grained awaruite mineralization in hole REU24-12 (Figure 7). This release contains the results of three drillholes at Reaume with assay results pending on two remaining holes.
Table 7– Reaume drilling highlights.
Hole ID
From (m)
To (m)
Length (m)*
Ni %
Co %
Pd g/t
Pt g/t
Cr %
Fe %
S %
REU24-11
36.0
501.0
465
0.19
0.012
0.004
0.005
0.623
7.403
0.020
REU24-12
40.3
561.0
520.7
0.19
0.013
0.003
0.006
0.588
7.375
0.026
Including
330.0
375.0
45
0.24
0.012
0.004
0.005
0.262
6.818
0.017
REU24-14
18.0
40.5
22.5
0.23
0.015
0.005
0.003
0.403
7.743
0.047
and
86.3
119.0
32.7
0.03
0.007
0.189
0.159
0.313
6.063
0.015
and
147.0
402.0
255
0.18
0.013
0.009
0.013
0.543
7.880
0.037
including
303.0
307.5
4.5
0.44
0.018
0.067
0.047
0.680
8.723
0.130
*True width undetermined. All lengths are drillhole lengths.
Table 8 Reaume PGM Highlights
Hole ID
From
(m)
To
(m)
Length
(m)
Pt+Pd
(g/t)
Pd
g/t)
Pt
(g/t)
Ni
(%)
Co
(%)
Cr
(%)
Fe
(%)
S
(%)
REU24-14
86.3
119.0
32.7
0.35
0.19
0.16
0.025
0.007
0.31
6.06
0.015
including
100.5
105.0
4.5
0.67
0.43
0.24
0.022
0.006
0.33
5.56
0.012
Table 9: Drillhole Orientation
Hole ID
Easting (mE)
Northing (mN)
Azimuth (⁰)
Dip (⁰)
Length (m)
REID
REI24-41
457554
5404310
0
-60
706
REI24-43
457350
5404200
70
-60
696
REI24-45
457859
5403898
90
-60
668
REI24-46
456306
5404370
180
-50
702
REI24-47
457765
5404100
90
-60
702
REI24-48
456860
5404060
180
-55
702
REI24-50
457817
5404256
90
-60
600
REI24-52
457350
5404200
180
-60
759
MANN WEST
MAN24-33
496260
5412289
35
-50
396
MAN24-37
496144
5412134
35
-50
402
MAN24-45
495656
5412189
40
-50
402
MAN24-49
495656
5412189
230
-50
402
MAN24-54
495796
5412336
40
-50
402
MAN24-58
495641
5412486
40
-65
351
MAN24-62
495296
5412441
50
-50
501
MANN CENTRAL
MAN24-19
496800
5410400
0
-50
397
MAN24-22
498724
5410530
350
-50
552
MAN24-26
498360
5410370
0
-50
399
MAN24-32
498466
5410751
180
-50
402
MAN24-34
498970
5410764
165
-50
402
MAN24-35
497509
5410702
180
-50
402
MAN24-39
498466
5410751
215
-55
171
MAN24-40
497698
5410729
180
-50
396
MAN24-43
498265
5410644
180
-50
402
MAN24-44
497880
5410638
180
-50
402
MAN24-52
498450
5410430
180
-50
400
MAN24-56B
498260
5410430
180
-50
402
MAN24-60
498445
5410230
180
-50
360
MANN NORTH
MAN24-24
496342
5414290
20
-50
237
MAN24-31
497243
5413464
20
-50
519
MAN24-36
497022
5413872
20
-50
408
MAN24-46
497195
5413805
200
-50
402
MAN24-47
497340
5413730
20
-50
402
MAN24-50
497552
5413697
200
-50
402
MAN24-51
497277
5414004
200
-50
402
MAN24-53
497727
5413538
20
-50
402
MAN24-55
496866
5413943
20
-50
402
MAN24-59
496917
5414076
20
-50
402
MAN24-67
496599
5414301
20
-50
420
REAUME
REU24-11
488435
5422086
90
-50
501
REU24-12
488424
5421854
90
-50
561
REU24-14
488077
5422433
45
-50
402
Issuance of Shares to Service Provider
The Company also announces that it has entered into an engagement agreement (the "Services Agreement") with a third-party service provider (the "Service Provider"), pursuant to which the Service Provider has agreed to provide certain consulting and advisory services (the "Services") for a period of one year.. Pursuant to the Services Agreement, the Company has agreed to issue 150,000 common shares of the Company (the "Service Shares") to the Service Provider as a one-time payment for the Services.
The Issuance of the Services Shares is subject to the prior approval of the TSX Venture Exchange. The Service Shares will be subject to hold period under Canadian securities laws, which will expire on the date that is four months and one day from the date of issuance.
Statement Regarding TSX Venture
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.
Quality Assurance and Control, Drilling and Assaying
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 secured 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 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 such term 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 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 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.
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 and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, corporate and technical objectives, receipt of TSX Venture Exchange approval for the acquisition described herein and the completion of the transaction. Forward-looking information is necessarily based upon several 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. 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 because of new information, future events or otherwise, except as required by law.
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...
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