Canada Nickel Continues to Achieve Excellent Drill Results at Reid
Highlights
- New best interval to date at Reid - 687 metres of 0.27% nickel including 36.0 metres of 0.41% nickel and 7.5 metres of 0.56% nickel in REI24-18.
- All four holes intersected core lengths of at least 676 metres with average grades of 0.24% to 0.27% nickel.
Six drill rigs are currently operating across the Company's exploration portfolio. As outlined in a conference call held on
"Reid continues to deliver excellent results with yet another best drill interval to date. We are encouraged by these four additional drill results with long drill intervals and three of the four holes reporting higher grade intervals", said
The Reid Property is located just 16 kilometres southwest of the Company's Crawford Nickel Sulphide project ("Crawford") and contains a geophysical target of 3.9 square kilometres, nearly 2.4 times larger than Crawford (see Figure 1). The Company currently has an ongoing drilling program, with eight initial drill holes intersecting long intervals of dunite and ending in mineralization. Complete assays for holes REI24-18, REI24-19, REI24-20 and REI24-21 are disclosed in this release and four holes have assays pending. The holes in this release were collared near the west half of the target and drilled near the center of the intrusion. The ultramafic sequence in this area is more than 800 metres thick, nearly twice that of Crawford's main zone.
Three of the four holes disclosed in this release intersected higher grade mineralization within the main ultramafic body. All holes collared and ended in dunite except REI24-19 which collared on a small dyke but intersected dunite starting at 49.5 metres and continued downhole.
Hole ID |
From (m) |
To (m) |
Length (m)* |
Ni % |
Co % |
Pd g/t |
Pt g/t |
Cr % |
Fe % |
S % |
REI24-18 |
32.3 |
720.0 |
687.7 |
0.27 |
0.01 |
0.009 |
0.007 |
0.71 |
5.51 |
0.03 |
including |
676.5 |
712.5 |
36.0 |
0.41 |
0.02 |
0.057 |
0.023 |
0.56 |
6.03 |
0.12 |
Including |
696.0 |
703.5 |
7.5 |
0.56 |
0.02 |
0.109 |
0.048 |
0.57 |
5.93 |
0.16 |
REI24-19 |
49.5 |
726.0 |
676.5 |
0.25 |
0.01 |
0.013 |
0.009 |
0.68 |
6.33 |
0.02 |
Including |
348.0 |
726.0 |
378.0 |
0.28 |
0.01 |
0.003 |
0.003 |
0.74 |
5.14 |
0.02 |
REI24-20 |
26.0 |
702.0 |
676.0 |
0.25 |
0.01 |
0.008 |
0.005 |
0.71 |
5.88 |
0.05 |
Including |
255.7 |
369.0 |
113.3 |
0.35 |
0.01 |
0.026 |
0.010 |
0.73 |
5.69 |
0.10 |
REI24-21 |
24.0 |
750.0 |
726.0 |
0.24 |
0.01 |
0.011 |
0.013 |
0.65 |
6.77 |
0.05 |
Including |
333.0 |
750.0 |
417.0 |
0.27 |
0.01 |
0.008 |
0.007 |
0.71 |
6.12 |
0.05 |
Including |
520.5 |
565.0 |
44.5 |
0.32 |
0.01 |
0.018 |
0.010 |
0.72 |
4.97 |
0.06 |
and |
621.0 |
750.0 |
129.0 |
0.29 |
0.01 |
0.003 |
0.004 |
0.70 |
5.31 |
0.06 |
|
*True width undetermined. All lengths are drillhole lengths. |
Figure 1 – Reid – CNC Drillholes Over Total Magnetic Intensity.
Table 2: Drillhole Orientation
Hole ID |
Easting (mE) |
Northing (mN) |
Azimuth (⁰) |
Dip (⁰) |
Length (m) |
REI24-18 |
456760 |
5404150 |
180 |
-60 |
720 |
REI24-19 |
456960 |
5404305 |
180 |
-60 |
726 |
REI24-20 |
456565 |
5404100 |
180 |
-60 |
702 |
REI24-21 |
456565 |
5404300 |
180 |
-60 |
702 |
REI24-22 |
456565 |
5404300 |
0 |
-60 |
492 |
REI24-23 |
456758 |
5404333 |
135 |
-55 |
564 |
REI24-24 |
457157 |
5404317 |
0 |
-60 |
705 |
CEO
Phone: 647-256-1954
Email: info@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
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