Canada Nickel’s (TSXV: CNC; OTCQX: CNIKF) assay results from Texmont property indicate an expansion of high grade, near-surface nickel mineralization. Texmont is located 36 km south of Timmins, Ont.
The mineralization has been drilled over a footprint of 1.0 km along strike to a maximum depth of 444 metres where it remains open.
All 39 drillholes intersected mineralized peridotite to varying degrees, with the drill program confirming Canada Nickel's interpretation of the Texmont deposit, as displaying zoning in its mineralization, with a higher-grade core less than 1.0% ranging between 2.0 to 8.0 metres thickness, grading into an outer shell of moderate-high mineralization 0.6 to 1.0% of up to 20 to 30 metres in thickness and followed by further outward shells of moderate and lower grades. Overburden in the area varied between 2.0 and 18 metres in downhole length.
Hole TEX23-26 intersected 3.0 metres of 1.47% nickel, within 13.5 metres of 0.82% nickel, within 52.5 metres of 0.5% nickel, and hole TEX23-19 intersected 7.0 metres of 1.03% nickel, within 40 metres of 0.69% nickel. As well, Hole TXT23-32 intersected 10.5 metres of 0.95% nickel, within 43.5 metres of 0.59% nickel, within 292 metres of 0.31% nickel.
“We are excited by the near-surface higher grade interval in hole TEX23-32 in the northern lens which is nearly half a kilometre from the southern high-grade lens. We have now planned additional drilling at the northern lens. We are looking forward to delivering an initial resource and preliminary economic analysis on Texmont this year as its near-term production potential is highly complementary to our large-scale Crawford and regional nickel sulphide project potential," said Mark Selby, CEO of Canada Nickel.
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