Canadian North Resources (TSXV:CNRI; OTC:CNRSF; FSE:EO0) has been awarded a $250,000 grant from the government of Nunavut's Discover, Invest, Grow (DIG) program. The company has received an initial contribution of $125,000, and an additional $125,000 is expected upon the submission of an exploration report, which was completed by the end of April.
The company opened its 55 person camp at its Ferguson Lake project in March and commenced a 20,000-metre drill program in 2023 to further expand the mineralized zones along and surrounding the 15-km long main horizon and to test the lithium potential of the pegmatites. The mineralized zones were confirmed to be open along the strike and down dip by the 18,144-metre drilling program that was completed In 2022.
Canadian North is an exploration and development company focusing on the metals for the clean energy, electric vehicles, battery, and high-tech industries. The company is advancing its 100%-owned Ferguson Lake nickel-copper-cobalt-palladium-platinum project that covers an area of 253.8 km2 of mining leases and surrounding exploration claims in the Kivalliq region of Nunavut.
The Ferguson Lake project has an indicated resource of 24.3 million tonnes containing 455 million lb. copper at 0.85%, 321 million lb. nickel at 0.60%, 37.5 million lb. cobalt at 0.07%, 1.1 million oz. palladium at 1.38 g/t and 180,000 oz. platinum at 0.23 g/t. The inferred resource is 47.2 million tonnes containing 947 million lb. copper at 0.91%, 551.5 million lb. nickel at 0.53%, 62.4 million lb. cobalt at 0.06%, 2.1 million oz. palladium at 1.4 g/t, and 380,000 million oz. platinum at 0.25 g/t were also reported.
For further information please visit the website at www.cnresources.com.