Canada Nickel Achieves Best Drill Results to Date at Reid
Highlights
- Best Reid interval to date – 661 metres of 0.29% nickel including 100 metres of 0.42% nickel and 40 metres of 0.51% nickel in REI-24-35
- All 8 holes targeting Reid Central Core intersected core lengths greater than 620 metres with average grades of 0.21% to 0.29% nickel
All 34 holes drilled this year at Reid have intersected long intervals of targeted mineralized dunite and minor peridotite. Complete assay results for 18 holes have been received, 13 of which are announced today with assay results for the remaining holes pending. Assay results for five holes were previously released on
Reid Property
The Reid Property is located just 16 km southwest of Crawford and contains a geophysical target of 3.9 km2, which is nearly 2.4 times larger than Crawford (see Figure 1). The Company expects to complete the first phase of drilling later in August and to produce an initial resource at Reid in Q4 2024. The remaining drillhole assays will be released once they have been received.
Hole REI24-35 was collared near the very center of the ultramafic body and drilled south. The full interval of 661.5 metres, beginning at 40.5 metres downhole, assayed 0.29% nickel including 100.5 metres of 0.42% nickel, and 40.5 metres of 0.51% nickel, ending the hole in strong mineralization. In this area the ultramafic sequence opens to the north and is more than 900 metres wide, roughly twice the width of Crawford's
The drilling campaign has identified a NNW-SSE trending corridor of dykes running through the center of the deposit which is approximately 150 metres wide, less than 7% of the overall strike length of 2.2 kilometres in the central core. Holes REI24-23, REI24-24, REI24-25, REI24-26 were drilled to identify the extent of mineralization within the local dunite, and better define the structural controls and extent of the dykes.
Table 1 – Reid drilling downhole composite.
Hole ID |
From (m) |
To (m) |
Length (m)* |
Ni % |
Co % |
Pd g/t |
Pt g/t |
Cr % |
Fe % |
S % |
Central Core |
||||||||||
REI24-27 |
27.2 |
702.0 |
674.8 |
0.27 |
0.012 |
0.013 |
0.008 |
0.67 |
5.62 |
0.076 |
including |
60.0 |
94.5 |
34.5 |
0.30 |
0.013 |
0.024 |
0.007 |
0.66 |
5.76 |
0.110 |
REI24-28 |
18.6 |
705.0 |
686.4 |
0.26 |
0.012 |
0.010 |
0.006 |
0.84 |
5.90 |
0.023 |
including |
235.5 |
250.5 |
15.0 |
0.30 |
0.012 |
0.006 |
0.008 |
0.87 |
5.46 |
0.025 |
REI24-29 |
54.0 |
568.6 |
514.6 |
0.23 |
0.010 |
0.011 |
0.008 |
0.63 |
6.59 |
0.028 |
and |
642.6 |
696.0 |
53.4 |
0.24 |
0.014 |
0.017 |
0.011 |
0.85 |
7.46 |
0.026 |
REI24-30 |
30.0 |
702.0 |
672.0 |
0.24 |
0.013 |
0.014 |
0.010 |
0.70 |
6.79 |
0.060 |
including |
633.0 |
640.5 |
7.5 |
0.42 |
0.018 |
0.080 |
0.040 |
0.63 |
8.13 |
0.288 |
and |
664.5 |
673.5 |
9.0 |
0.37 |
0.019 |
0.071 |
0.046 |
0.51 |
8.75 |
0.275 |
REI24-31 |
28.0 |
648.4 |
620.4 |
0.22 |
0.013 |
0.013 |
0.009 |
0.61 |
6.85 |
0.072 |
including |
31.5 |
340.5 |
309.0 |
0.27 |
0.012 |
0.010 |
0.006 |
0.71 |
6.11 |
0.074 |
including |
39.0 |
52.0 |
13.0 |
0.41 |
0.014 |
0.026 |
0.014 |
0.69 |
5.68 |
0.075 |
and |
279.0 |
306.0 |
27.0 |
0.29 |
0.014 |
0.016 |
0.005 |
0.68 |
7.61 |
0.131 |
REI24-32 |
21.0 |
696.0 |
675.0 |
0.21 |
0.012 |
0.008 |
0.007 |
0.71 |
6.43 |
0.034 |
including |
166.5 |
421.5 |
255.0 |
0.25 |
0.011 |
0.005 |
0.004 |
0.89 |
5.57 |
0.038 |
REI24-35 |
40.5 |
702.0 |
661.5 |
0.29 |
0.012 |
0.018 |
0.013 |
0.69 |
5.67 |
0.052 |
including |
340.5 |
361.5 |
21.5 |
0.34 |
0.013 |
0.221 |
0.094 |
0.66 |
5.85 |
0.074 |
and |
601.5 |
702.0 |
100.5 |
0.42 |
0.015 |
0.035 |
0.019 |
0.59 |
6.26 |
0.123 |
including |
645.0 |
685.5 |
40.5 |
0.51 |
0.015 |
0.040 |
0.023 |
0.59 |
6.21 |
0.149 |
REI24-37 |
42.2 |
697.5 |
655.3 |
0.24 |
0.013 |
0.012 |
0.009 |
0.57 |
6.28 |
0.032 |
including |
42.2 |
312.0 |
269.8 |
0.27 |
0.013 |
0.023 |
0.018 |
0.60 |
6.19 |
0.029 |
including |
202.5 |
219.0 |
16.5 |
0.41 |
0.015 |
0.241 |
0.146 |
0.49 |
7.16 |
0.093 |
REI24-38 |
27.0 |
702.0 |
675.0 |
0.22 |
0.012 |
0.024 |
0.018 |
0.63 |
6.55 |
0.045 |
including |
238.0 |
550.5 |
312.5 |
0.26 |
0.012 |
0.048 |
0.035 |
0.69 |
6.04 |
0.056 |
including |
301.5 |
327.0 |
25.5 |
0.32 |
0.012 |
0.009 |
0.006 |
0.78 |
5.97 |
0.078 |
and |
510.0 |
540 |
30 |
0.33 |
0.012 |
0.174 |
0.229 |
0.74 |
6.16 |
0.103 |
Central Dyke Corridor |
||||||||||
REI24-23 |
24.0 |
303.0 |
279.0 |
0.18 |
0.014 |
0.010 |
0.012 |
0.53 |
7.82 |
0.016 |
and |
343.8 |
564.0 |
220.2 |
0.25 |
0.013 |
0.010 |
0.006 |
0.77 |
7.47 |
0.038 |
REI24-24 |
78.9 |
94.9 |
16.0 |
0.27 |
0.012 |
0.067 |
0.024 |
0.68 |
5.89 |
0.098 |
and |
174.1 |
247.2 |
73.1 |
0.25 |
0.012 |
0.006 |
0.005 |
0.83 |
5.61 |
0.036 |
and |
260.0 |
627.0 |
367.0 |
0.24 |
0.011 |
0.004 |
0.007 |
0.85 |
5.79 |
0.063 |
and |
674.0 |
705.0 |
31.0 |
0.19 |
0.012 |
0.003 |
0.006 |
0.55 |
7.32 |
0.028 |
REI24-25 |
28.0 |
312.0 |
284.0 |
0.18 |
0.013 |
0.009 |
0.011 |
0.58 |
7.64 |
0.035 |
and |
322.7 |
717.0 |
394.3 |
0.23 |
0.012 |
0.008 |
0.007 |
0.78 |
6.13 |
0.034 |
REI24-26 |
30.6 |
106.5 |
75.9 |
0.27 |
0.011 |
0.016 |
0.013 |
0.77 |
5.47 |
0.034 |
and |
122.9 |
280.0 |
157.1 |
0.20 |
0.013 |
0.050 |
0.018 |
0.56 |
7.65 |
0.033 |
and |
321.4 |
488.5 |
167.1 |
0.20 |
0.014 |
0.024 |
0.016 |
0.50 |
8.25 |
0.032 |
*True width undetermined. All lengths are drillhole lengths. |
Table 2: Drillhole Orientation
Hole ID |
Easting (mE) |
Northing (mN) |
Azimuth (⁰) |
Dip (⁰) |
Length (m) |
REI24-23 |
456758 |
5404333 |
135 |
-55 |
564 |
REI24-24 |
457157 |
5404317 |
0 |
-60 |
705 |
REI24-25 |
457345 |
5404725 |
180 |
-60 |
717 |
REI24-26 |
457350 |
5404200 |
258 |
-50 |
528 |
REI24-27 |
456165 |
5403790 |
0 |
-60 |
702 |
REI24-28 |
456960 |
5404500 |
180 |
-70 |
705 |
REI24-29 |
457555 |
5403900 |
0 |
-55 |
696 |
REI24-30 |
457350 |
5404450 |
180 |
-60 |
702 |
REI24-31 |
456365 |
5404000 |
0 |
-60 |
648 |
REI24-32 |
456960 |
5404500 |
315 |
-60 |
705 |
REI24-35 |
456960 |
5404100 |
180 |
-60 |
702 |
REI24-37 |
457765 |
5404100 |
180 |
-60 |
697 |
REI24-38 |
456365 |
5403800 |
180 |
-60 |
702 |
Statement Regarding TSX Venture
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Quality Assurance and Control, Drilling and Assaying
Qualified Person and Data Verification
About
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com
Cautionary 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 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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