Canada Nickel Company (TSXV: CNC; OTC: CNIKF) believes that its Crawford project in northern Ontario contains the fifth largest nickel sulphide resource globally, after a new estimate released by the company on July 6 more than doubled the project’s measured and indicated resource estimate.
Its latest measured and indicated resources now total 1.4 billion tonnes grading 0.24% nickel and 6.59% iron for 3.48 million tonnes of contained nickel and 93.9 million tonnes of iron. Inferred resources add 670.1 million tonnes grading 0.23% nickel and 6.85% iron for 1.55 million tonnes of nickel and 45.9 million tonnes of iron.
The previous resource estimate, released in January 2021, totalled 653 million tonnes grading 0.26% nickel and 6.58% iron for 1.6 million tonnes of contained nickel and 43 million tonnes of iron in the measured and indicated category, and 497 million tonnes grading 0.24% nickel and 6.58% iron for 1.1 million tonnes of nickel and 33.5 million tonnes of iron in the inferred category.
“Our overall measured and indicated resource has more than doubled, driven in large part by outstanding exploration success in our east zone,” the company’s CEO Mark Selby said in a press release.
“With additional potential from a number of holes still pending assays…we expect the final feasibility study resource to support the upper end of our mine plan target of 1.3 to 1.8 billion tonnes,” he added. “The Crawford feasibility study continues to be on track for completion by year-end.”