MiningNewsBreaks – Canada Nickel Company Inc. (TSX.V: CNC) (OTCQX: CNIKF) Releases Report on ‘Major Discovery’ at Reid Property
Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF) has released an update on its on its exploration efforts at its Reid Property, which is located within 16 km of the Crawford Nickel discovery. Highlights of the report indicate that all 16 holes at Reid intersected multi-hundred meter intervals of mineralization; six holes in the Central Core Area intersected at higher grades. In addition, the report noted that holes REI22-14 and REI22-16 confirmed mineralization that is more than 500 meters wide, a distance approximately 50% wider than Crawford Main Zone and more than 100% wider than Crawford East Zone. The company also observed that the Reid geophysical target footprint of the Reid property is 3.9 km2, which is more than two times larger than its flagship Crawford Nickel Project resource. “[These] results confirm Reid as a major discovery with a target footprint larger than our flagship Crawford discovery and a mineralized core that is 50% wider than our Crawford Main Zone,” said Canada Nickel Company chair and CEO Mark Selby in the press release. “Grades and mineralization are consistent with what the company has observed at the company’s East Zone deposit. 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. . . . I am also pleased that we are extending repayment of our loan with Auramet to March 3, 2023, utilizing 45 days of the 90-day extension right that we had as part of the original loan agreement, which allows us to advance various financing initiatives, which we expect to complete during this timeframe.”
To view the full release, visit https://ibn.fm/i1px7
About Canada Nickel Company
Canada Nickel 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 has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM), and is also pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt and iron products. The company 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 about the company, visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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