NiCAN Announces Results from its Phase III-B Drill Program, including 20.3 Meters at 2.85% NiEq at the Wine Project, Manitoba
Highlight:
- Diamond drill hole Wine 24-4 intersected 20.3 meters averaging 2.88% Cu and 2.14% Ni (2.85% NiEq), 0.09% Co and 1.19g/t PGMs.
Future exploration work will aim to determine if the mineralization extends to the south and better define the extent of the new near surface zones. These results, combined with the recently completed, deep penetrating, TDEM survey will assist in designing further drill programs at the Wine property."
Table 1: Wine Occurrence - Summary Assays released to date from Phase III-B Diamond Drill Program
Hole # |
From (m) |
To (m) |
Length |
Cu (%) |
Ni (%) |
NiEq (%) |
Co (%) |
PGM's |
Wine 24-1 |
6.8 |
12.2 |
5.5 |
0.71 |
1.35 |
2.27 |
0.07 |
0.33 |
Wine 24-1 |
23.5 |
29.0 |
5.5 |
0.76 |
1.58 |
1.75 |
0.07 |
0.58 |
Wine 24-1 |
41.6 |
46.2 |
4.6 |
0.92 |
1.00 |
1.33 |
0.05 |
0.26 |
Wine 24-1A |
7.5 |
11.2 |
3.7 |
1.40 |
1.63 |
1.89 |
0.08 |
0.61 |
Wine 24-1A |
24.8 |
26.4 |
1.6 |
0.55 |
0.60 |
0.71 |
0.03 |
0.14 |
Wine 24-1A |
29.7 |
75.1 |
45.5 |
1.20 |
1.32 |
1.55 |
0.06 |
0.59 |
Wine 24-2 |
76.5 |
83.0 |
6.6 |
1.27 |
0.74 |
1.77 |
0.04 |
0.70 |
Wine 24-2 |
87.0 |
104.5 |
17.5 |
1.23 |
0.45 |
0.82 |
0.02 |
0.77 |
Wine 24-4 |
66.0 |
86.3 |
20.3 |
2.88 |
2.14 |
2.85 |
0.09 |
1.19 |
Note: Nickel equivalent grades include nickel and copper values only and assume recoveries of 85% for nickel and 85% for copper based on comparable deposits. A 6-year trailing average with a Nickel price: |
Phase III-B Drilling Program – Wine Property
The Phase III-B Wine diamond drill program consisted of 8 diamond drill holes for a total of 942 meters following up on the significant results returned from the Phase III drill program completed in the fourth quarter of 2023 (press release dated
The Phase III-B drill program was designed to further drill test the Wine Occurrence and test one greenfield geophysical target to the north. Diamond drill holes Wine 24-1, Wine 24-01A, Wine 24-2 and Wine 24-5 were previously released (
Follow Up Drill Program – Wine Occurrence
The Wine Occurrence follow up drilling program was completed in
Note: Only NiCAN drill holes are displayed and hole 23-16, 27 and 29 as well as 22-6 are not displayed to highlight the 2024 drill holes. |
Diamond drill hole Wine 24-4 was collared to determine if there was a down dip extension to the
Diamond drill hole Wine 24-6 targeted a conceptual down dip extension to the mineralization intersected in hole Wine 22-9 (0.74% NiEq over 11.6 meters). It is interpreted that this hole was stopped short of intersecting the down plunge extension of the
Note: Only NiCAN drill holes are displayed |
Analogies to Historical Lynn Lake Nickel Deposits
QAQC
All core samples are sent to the
Laboratory Quality Control protocols were applied to the assay sample package by ALS.
A review of the Company's QAQC program indicate that all results were returned within acceptable limits.
The nickel equivalent grade calculation incorporates:
- nickel and copper values only,
- assume recoveries of 85% for nickel and 85% for copper based on comparable deposits,
- A 6-year trailing average nickel price:
US$8.10 /lb; copper priceUS$3.40 /lb.
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