The assay results at Reid and Deloro project property, which the company has recently acquired, confirms a significant discovery with expected grades of 487m of 0.25% nickel including 91m of 0.28% nickel
Canada Nickel Company has confirmed the second significant discovery at its newly acquired Deloro property in Ontario, Canada, based on the latest assay results from the site.
The Deloro property is located 9km southeast of Timmins and contains an ultramafic target for 1.4km north-south and 450m east-west, based on the total magnetic intensity (TMI).
The site hosts ultramafic lithologies and nickel mineralisation throughout the anomaly, said Canada Nickel.
In the recent drilling, hole DEL22-01 intersected 487m of 0.25% nickel with a higher-grade section near the bottom of the hole intersecting 0.28% nickel over 91m, and the hole DEL 22-09 intersected 393m of 0.26% nickel.
Canada Nickel Company chair and chief executive officer Mark Selby said: “We are very pleased with the results from Deloro where we successfully delineated our target mineralization and grades throughout the intended geophysical target.
“Deloro now joins Reid as another significant, sizeable nickel discovery and we look forward to continued success as we continue exploration around our regional properties, developing what we believe has the potential to be one of the world’s leading nickel districts.”
In November last year, Canada Nickel acquired 13 properties to consolidate its district-scale mining potential in the Timmins area.
The projects include Deloro and Reid properties and are located not more than 95km away from the company’s Crawford nickel sulphide project.
According to a recent update, the Crawford project hosts the world’s fifth-largest nickel sulphide resource.
It contains a total of 1.4 billion tonnes grading 0.24% nickel in the measured and indicated category and 670.1 million tonnes grading 0.23% nickel in the inferred category.
Earlier this month, Canada Nickel initiated the federal Impact Assessment permitting process for its Crawford nickel project.
The move follows the acceptance of the company’s Initial Project Description (IPD) by Canada’s Impact Assessment Agency.