Highlights

  • Successful infill drilling campaign targeted PGM Zones at Crawford with 45 holes intersecting drill intervals of > 1g/t palladium + platinum
  • Results include:
    • 2.19 g/t palladium + platinum over core length of 76.5 metres in Crawford Main Zone including 3.90 g/t over core length of 13.5 metres
    • 1.15 g/t palladium + platinum over 38.5 metres in Crawford East Zone including 2.94 g/t over core length of 4.5 metres
  • PGM results will be included in development of a Crawford PGM Zone resource estimate and incorporated into the Crawford nickel mine plan

TORONTO, July 31, 2024 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) today announced additional results from its drilling program targeting the PGM zones that occur along the Crawford Main and East Zone boundaries and within the existing mine plan outlined in the Crawford Nickel Project feasibility study.

Mark Selby, CEO of Canada Nickel, said, "We are very pleased with the drilling results of the PGM Zones for both the Crawford Main & East Zones, which occur within the existing feasibility study mine plan for Crawford. The opportunity to drill out these zones and to incorporate the findings into a PGM resource estimate have the potential to unlock incremental value from material that was previously unaccounted for, and in fact was treated as waste material within the Crawford feasibility study."

Crawford PGM Drilling

In early drilling campaigns at Crawford, "PGM zones" were identified (Figure 1) with platinum (Pt) and palladium (Pd) mineralization (Pt+Pd or PGM) occurring within a transitional boundary between the pyroxenite and peridotite units (the "PGM zone") that overlie the nickel-bearing dunites. In 2022, several areas were targeted for PGM mineralization throughout the whole Crawford property. Seventeen holes within the proposed Crawford pit are reported in this release. In 2024, a total of 31 holes were completed - 23 holes were drilled into the East zone, and eight new holes were drilled into the Main Zone to target the PGM zones. These zones are of interest as they reside within the boundaries of the proposed Crawford open pit and, as a resource had not been previously defined for the PGM zone, were treated as waste in the current feasibility study.   

The purpose of the 2024 drill program was to provide sufficient infill drilling to produce a resource estimate on the PGM zones.  Canada Nickel successfully intersected mineralized peridotite/pyroxenite in 28 of the 31 holes drilled.   Assay results from both the 2022 and 2024 programs are tabulated in Table 1 and shown in Figure 2.

Table 1: Crawford selected PGM intervals (2024 and 2022 drilling)

Hole ID

From

To

Length

 Calculated
true
width

Pt+Pd

Pd

Pt

Ni

Co

Cr

Fe

S


(m)

(m)

(m)

(m)

(g/t)

(g/t)

(g/t)

( %)

( %)

( %)

( %)

( %)

EAST ZONE

CR24-345

201

205.5

4.5

2.8

0.55

0.20

0.35

0.05

0.01

0.37

6.99

0.08

CR24-344

286.5

297

10.5

1.5

1.53

0.81

0.72

0.07

0.01

0.49

7.27

0.05

including

289.5

292.5

3

0.4

2.97

1.57

1.40

0.06

0.01

0.53

8.02

0.05

CR24-342

370

382.5

12.5

10

0.51

0.28

0.23

0.04

0.01

0.24

6.54

0.21

including

378

381

3

2.4

1.16

0.52

0.64

0.05

0.01

0.4

7.01

0.04

CR24-338

228

234

6

2.8

1.87

0.87

1.00

0.02

0.01

0.28

5.74

0.17

CR24-336

199.5

208.5

9

3.1

1.02

0.48

0.54

0.02

0.01

0.34

5.55

0.06

CR24-335

69

78

9

6.7

0.86

0.38

0.48

0.03

0.01

0.31

6.13

0.06

including

73.5

78

4.5

3.3

1.53

0.67

0.86

0.03

0.01

0.27

5.94

0.06

CR24-333

205.5

212.9

7.4

2.7

1.07

0.42

0.65

0.06

0.01

0.5

6.74

0.18

including

207

210

3

1.1

2.10

0.84

1.26

0.05

0.01

0.59

6.39

0.08

CR24-332

87

90

3

1.3

1.66

0.79

0.87

0.03

0.01

0.32

5.75

0.09

CR24-330

210

217.5

7.5

2.3

0.29

0.22

0.07

0.16

0.01

0.59

6.95

0.04

CR24-328

58

65

7

4.8

0.91

0.39

0.52

0.05

0.01

0.43

6.88

0.1

including

61

63.5

2.5

1.7

2.06

0.95

1.11

0.04

0.01

0.39

6.46

0.03

CR24-327

306.5

324.8

18.3

5.0

0.38

0.13

0.25

0.06

0.01

0.37

7.82

0.03

including

311

312.5

1.5

0.8

1.24

0.30

0.94

0.06

0.01

0.34

7.67

0.03

CR24-326

210.5

249.5

38.5

11.9

1.15

0.52

0.63

0.03

0.01

0.39

5.84

0.11

including

216.5

221

4.5

1.4

2.94

1.35

1.59

0.04

0.01

0.35

5.3

0.22

including

233

240.5

7.5

2.3

2.06

0.98

1.08

0.03

0.01

0.35

5.3

0.22

CR24-325

147

156

9

2.8

0.88

0.38

0.50

0.04

0.01

0.36

5.96

0.15

including

151.5

154.5

3

0.9

2.36

1.07

1.29

0.04

0.01

0.31

6.27

0.28

CR24-323

88.5

93

4.5

3.3

1.01

0.48

0.53

0.07

0.01

0.42

7.32

0.1

CR24-322

237

249.5

12.5

3.9

0.99

0.46

0.53

0.05

0.01

0.45

6.86

0.07

including

240

244

4

1.2

2.75

1.31

1.45

0.05

0.01

0.46

7.67

0.03

CR24-321

64.5

67.5

3

1.2

0.91

0.43

0.48

0.06

0.01

0.4

7.71

0.1

CR24-320

195

198

3

0.9

0.24

0.17

0.07

0.11

0.02

0.49

8.15

0.03

CR24-319

119

124.5

5.5

1.3

1.19

0.51

0.68

0.04

0.01

0.48

6.13

0.11

CR24-318

69

76.5

7.5

5.6

1.22

0.56

0.66

0.05

0.01

0.49

7.69

0.07

including

72

75

3

2.2

2.52

1.16

1.36

0.05

0.01

0.46

6.94

0.02

Hole ID

From

To

Length

 Calculated
true
width

Pt+Pd

Pd

Pt

Ni

Co

Cr

Fe

S

CR24-317

190.3

208.5

18.2

5.6

1.09

0.54

0.55

0.03

0.01

0.38

6.11

0.08

including

199.5

205.5

6

1.9

2.16

1.04

1.12

0.02

0.01

0.35

5.76

0.05

CR24-316

115.5

120

4.5

3.3

0.92

0.35

0.56

0.06

0.01

0.48

7.22

0.05

including

115.5

117

1.5

1.1

1.57

0.57

1.0

0.05

0.01

0.53

7.41

0.03

CR24-315

324

339

15

7

1.10

0.57

0.53

0.06

0.01

0.39

7.67

0.03

including

324

330

6

2.8

2.50

1.32

1.18

0.06

0.01

0.4

7.75

0.03

including

324

327

3

1.4

3.73

1.96

1.77

0.06

0.01

0.42

8.1

0.04

CR22-298

90

96

6

4.1

1.65

0.79

0.86

0.02

0.01

0.26

5.32

0.03

CR22-296

159

165

6

2.8

0.39

0.22

0.16

0.05

0.01

0.42

6.13

0.01

CR22-295

114

118.5

4.5

3.3

0.97

0.54

0.44

0.02

0.01

0.34

4.86

0.02

CR22-294

186

190.5

4.5

2.1

1.57

0.76

0.81

0.03

0.01

0.35

6.01

0.01

CR22-291

106.5

112.5

6

4.5

0.42

0.15

0.27

0.04

0.01

0.37

6.04

0.01

CR22-288

120

130.5

10.5

4.9

0.86

0.37

0.49

0.05

0.01

0.36

6.93

0.25

including

123

127.5

4.5

2.1

1.69

0.72

0.97

0.04

0.01

0.31

6.25

0.02

CR22-287

92

98

6

4.5

1.02

0.45

0.57

0.07

0.01

0.51

7.79

0.04

CR22-286

98

105.5

7.5

3.5

1.53

0.66

0.87

0.05

0.01

0.41

6.93

0.01

CR22-286

101

104

3

1.4

3.37

1.48

1.89

0.05

0.01

0.43

7.51

0.01

CR22-285

73

74.5

1.5

1.1

1.52

0.56

0.96

0.06

0.01

0.71

7.38

0.04

CR22-284

76.5

84

7.5

5.6

0.99

0.44

0.56

0.04

0.01

0.28

6.8

0.06

including

79.5

82.5

3

2.2

2.14

1.00

1.14

0.04

0.01

0.21

6.11

0.06

CR22-283

106.5

126

19.5

7.6

1.20

0.53

0.67

0.03

0.01

0.37

5.13

0.11

CR22-281

129

133.5

4.5

3.3

0.76

0.34

0.42

0.03

0.01

0.38

6.1

0.02

including

130.5

133.5

3

2.2

1.92

0.86

1.06

0.03

0.01

0.36

6.06

0.02

CR22-267

120

130.5

10.5

4.1

0.22

0.11

0.12

0.06

0.01

0.35

7.15

0.13

CR22-265

200

246

46

.18.0

1.94

0.87

1.07

0.03

0.01

0.43

6.05

0.1

including

228.5

243

14.5

5.7

3.49

1.65

1.83

0.02

0.01

0.3

5.83

0.01

MAIN ZONE

CR24-341

457.5

468

10.5

1.3

0.26

0.12

0.14

0.06

0.01

0.4

7.47

0.03

CR24-334A

244.5

267

22.5

3.9

1.03

0.60

0.43

0.04

0.01

0.52

5.99

0.05

CR24-331

369

445.5

76.5

9.3

2.19

1.03

1.16

0.04

0.01

0.39

6.49

0.06

including

376.5

390

13.5

1.6

3.90

1.87

2.02

0.05

0.01

0.44

6.94

0.07

CR24-329

391.5

397.5

2.5

0.7

0.30

0.11

0.08

0.07

0.01

0.44

6.93

0.1

CR24-324

291

294

3

1.4

0.32

0.12

0.20

0.03

0.01

0.42

5.37

0.05

CR22-272

54

93

39

10.7

0.84

0.45

0.38

0.05

0.01

0.5

7.02

0.08

including

60

63

3

0.8

1.24

0.83

0.41

0.05

0.01

0.57

7.1

0.07

And

66

76.5

10.5

2.9

1.90

0.97

0.93

0.05

0.01

0.61

6.93

0.06

CR22-257

190.8

195.5

4.7

3.8

2.20

0.84

1.36

0.06

0.01

0.48

7

0.05

Figure 1 - Crawford PGM Highlights 2024 (CNW Group/Canada Nickel Company Inc.)

Figure 2 - Crawford PGM Cross Sections East Zone (CNW Group/Canada Nickel Company Inc.)

Table 3: Drillhole Orientation

Hole ID

Easting (mE)

Northing (mN)

Azimuth (⁰)

Dip (⁰)

Length (m)

CR24-345

473300

5409950

356

-60

402

CR24-344

473205

5409985

0

-90

366

CR24-342

473373

5410260

170

-45

397

CR24-341

473833

5408690

0

-75

540

CR24-340

473278

5410290

173

-42

462

CR24-338

473610

5409950

0

-70

252

CR24-336

473827

5409967

0

-78

270

CR24-335

473950

5410000

0

-50

201

CR24-334A

473681

5408782

12

-70

372

CR24-333

474215

5409965

340

-77

236

CR24-332

474180

5410015

0

-72

252

CR24-331

473555

5408774

15

-74

501

CR24-330

474350

5409905

320

-80

450

CR24-329

473265

5408895

45

-70

450

CR24-328

474460

5409970

335

-55

231

CR24-327

473265

5408895

14

-66

351

CR24-326

474515

5409895

0

-80

273

CR24-325

474600

5409925

0

-80

201

CR24-324

472837

5409083

35

-55

351

CR24-323

474600

5409925

0

-50

261

CR24-322

474715

5409905

0

-80

306

CR24-321

474770

5409965

5

-75

300

CR24-320

474820

5409900

0

-80

270

CR24-319

474915

5409940

5

-84

171

CR24-318

474915

5409940

5

-50

204

CR24-317

475120

5409900

0

-80

300

CR24-316

475120

5409900

0

-50

207

CR24-315

473682

5410225

172

-54

399

CR22-298

473564

5410008

0

-55

252

CR22-296

473374

5409984

2

-70

201

CR22-295

473374

5409984

2

-50

282

CR22-294

475434

5409927

0

-70

192

CR22-291

475204

5409922

10

-50

210

CR22-288

474805

5409925

2

-70

171

CR22-287

474806

5409923

4

-50

252

CR22-286

474705

5409932

2

-70

180

CR22-285

474705

5409932

2

-50

252

CR22-284

474504

5409940

2

-50

261

CR22-283

474504

5409939

2

-75

222

CR22-282

474303

5409955

2

-75

222

CR22-281

474303

5409956

2

-50

252

CR22-272

473764

5408865

172

-82

651

CR22-267

474606

5410009

180

-75

650

CR22-265

474403

5410013

180

-75

577

CR22-257

473644

5408751

355

-45

354

Assays, Quality Assurance/Quality Control and Drilling and Assay

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 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.

The magnetic images shown in this press release were created from Canada Nickel's interpretation of datasets provided by the Ontario Geological Survey.

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 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.

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Note and Statement Concerning Forward Looking Statements
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, 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, timing and completion (if at all) of mineral resource estimates, strategic plans, including future exploration and development plans and results, and corporate and technical objectives.  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.

Neither the 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.

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SOURCE Canada Nickel Company Inc.

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