The PGM zone is situated to the north of the nickel-cobalt deposit at Crawford
Canada Nickel has discovered a palladium and platinum-bearing zone at its wholly-owned Crawford project in Canada.
The PGM zone is situated to the north of the nickel-cobalt-palladium resource at Crawford announced in February 2020.
Five holes intersected this zone, with grades up to 1.7 g/t of palladium + platinum over 7.5 metres.
The zone was traced beginning at the bedrock contact to a depth of 500 metres across a strike length of 600 metres.
The Crawford project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario and is adjacent to well-established, major infrastructure associated with more than 100 years of regional mining activity.
Canada Nickel chairman and CEO Mark Selby said: “With palladium prices in excess of C$3,000 per ounce and few new palladium discoveries globally, the discovery of this new near-surface multi-gram palladium-platinum zone sitting parallel to Crawford’s existing nickel-cobalt-palladium resource further underscores Crawford’s significant potential and provides additional optionality to unlock value for shareholders.
“With less than 20% of the main structure drilled and multiple targets on the property, we look forward to the next phase of exploration where we will begin to explore the main nickel-cobalt-palladium and PGM Zone across the 8 kilometre strike length of structure.”
The PGM zone extends across the full length of the mineralised structure at Crawford delineated to a length of 1.7km.
Canada Nickel working with Noble to complete proposed transactions
Canada Nickel has announced that it is working with Noble Mineral Resources to complete the acquisition of additional property and enter into option agreements on five other properties near its Crawford project.
The companies expect to complete the proposed transactions following Noble’s upcoming annual general and special meeting of the shareholders on 5 May.
In February, Canada Nickel has announced a maiden mineral resource estimate for its Crawford project.
The maiden resource contains a higher grade core of measured and indicated resource of nearly 263 million tonnes at 0.31% nickel, 0.013% cobalt, and 0.038 g/t Pd + Pt within an overall measured and indicated resource of approximately 600 million tonnes.