Canada Nickel Announces Positive Regional Exploration Results including Best Regional Exploration Result to Date at Midlothian
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Canada Nickel Announces Positive Regional Exploration Results including
Best Regional Exploration Result to Date at Midlothian
Highlights
• Midlothian: entire mineralized core length of 470 metres of 0.31% nickel, including 13.5
metres of 0.41% nickel in hole MID24-15
• Bannockburn: All eight holes yielded well-mineralized intervals with five of eight holes
containing intervals > 0.3% nickel.
• Deloro: All eleven holes intersected well-mineralized intervals including hole DEL24-28 with
371 metres of 0.27% nickel including 39 metres of 0.30% nickel
• Nesbitt: Drilling resumed with 382 metres of 0.22% nickel, including 27 metres of 0.27% nickel
intersected in NES24-13
• An additional regional resource to be published - total of eight resources by mid-2025
TORONTO, January 23, 2025 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company")
(TSXV: CNC) (OTCQX: CNIKF) is pleased to announce additional exploration drilling results from the
Company’s Deloro, Bannockburn, Midlothian and Nesbit t properties. The Company completed over
118,000 metres of drilling on 14 properties during its successful 2024 drilling campaign, all located within
100 kilometres of the Timmins mining camp.
CEO Mark Selby said, “Today’s results from four separate regional properties continue to demonstrate
the scale of the sulphide nickel potential of the Timmins Nickel District. Midlothian’s drilling results are
showing consistent grades with an average grade that is the highest to date of all the Company’s regional
properties. Bannockburn drilling continues to yield excellent results – including identification of other
high-grade targets as well as the intersection of a higher-grade zone within the bulk tonnage zone. We
continue to successfully infill and extend the resource at Deloro, and we have successfully resumed drilling
at Nesbitt, which is located just seven kilometres from Crawford, and which will become an additional
resource by mid-2025.”
Regional Exploration Programs
The Company now expects to publish a total of eight additional regional resources by mid-2025. Reid and
Deloro have already been published and resources at Bannockburn, Mann Central, Mann West,
Midlothian, Nesbitt, and Texmont are expected to further demonstrate the scale of nickel resources
within the Timmins Nickel District.
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Bannockburn Property
The Bannockburn Property is located 65 kilometres south of Timmins and approximately 20 kilometres
west of Matachewan, Ontario. The property has multiple targets including two high-grade nickel zones.
The B-zone geophysical target is the largest target consisting of a bulk tonnage nickel zone with
approximately 1.6 kilometres of strike length and up to 700 m wide. The Company completed infill drilling
on the B-Zone with nine holes drilled in the fall of 2024 (Figure 1). This release has results for seven of the
nine drillholes. All holes were drilled through long intersections of strongly serpentinized and mineralized
ultramafic rocks. With this drilling and the data collected in 2023, the company intends to produce a
resource estimate by mid- 2025.
A single hole (BAN24-10) was drilled into the smaller D-zone to the northwest, confirming continuation of
the mineralized ultramafic body almost 1 kilometre northwest of the main B-zone. The D-zone will need
further drilling to test its potential extension from and connection to the B-zone (Figure 1).
Canada Nickel has also followed up on other prospective targets that tested for higher-grade material.
Historically, higher grade intervals have been drilled at Bannockburn, within the C-zone and the F-zone.
The company is planning to target the F-zone with a summer program, following up the positive results
and promising geophysical downhole surveys from holes BAN24-18 and BAN24-21. See news releases of
November 11 and December 5 of 2024 for those results.
Table 1 – Bannockburn drilling highlights.
Hole ID From
(m) To (m) Length
(m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
BAN24-07 67.3 402 334.7 0.26 0.010 0.003 0.005 0.15 4.11 0.01
including 116.5 151 34.5 0.29 0.009 0.003 0.003 0.10 3.68 0.01
BAN24-08 58.5 115 56.5 0.22 0.010 0.003 0.003 0.16 5.80 0.05
and 205.5 351 145.5 0.23 0.011 0.004 0.005 0.25 5.72 0.03
BAN24-09 24 66 42.0 0.24 0.010 0.003 0.005 0.36 5.47 0.07
and 87 351 264.0 0.27 0.010 0.005 0.005 0.13 4.36 0.04
including 225 331.5 106.5 0.30 0.009 0.007 0.006 0.10 3.57 0.05
BAN24-10 81 402 321.0 0.27 0.012 0.003 0.004 0.31 5.71 0.01
including 217.5 298.5 81.0 0.30 0.011 0.004 0.003 0.10 5.00 0.01
BAN24-11 73.9 363.5 289.6 0.29 0.009 0.005 0.004 0.10 3.62 0.04
including 75.5 99.5 24.0 0.40 0.011 0.020 0.013 0.11 3.94 0.12
BAN24-12 53.5 351 297.5 0.27 0.009 0.003 0.003 0.11 3.85 0.01
BAN24-14 60 401 341.0 0.29 0.009 0.004 0.004 0.11 3.81 0.02
including 329 392 63.0 0.31 0.010 0.011 0.009 0.11 3.99 0.04
BAN24-15 112.9 253.0 140.1 0.22 0.009 0.003 0.004 0.14 5.08 0.05
and 333.0 426.0 93.0 0.28 0.012 0.018 0.012 0.19 6.54 0.55
including 334.0 343.0 9.0 0.44 0.017 0.066 0.039 0.25 7.80 1.35
and 368.5 376.0 7.5 0.55 0.018 0.066 0.036 0.18 7.13 1.70
*True width undetermined. All lengths are drillhole lengths.
Drill results in italics with significantly higher sulphur contents are interpreted to be extensions of the C-Zone into the B-Zone
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Figure 1 – Bannockburn – CNC Drillholes Over Total Magnetic Intensity.
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Midlothian Property
The Midlothian property is located 70 kilometres south-southeast of Timmins, 25 kilometres west of
Matachewan and is directly accessible by road. Four drillholes were completed during the winter of 2023
(see July 11, 2023, release) and 12 additional drillholes were completed in the fall of 2024. All 12 holes
intersected mineralized dunite at shallow depths (Figure 2). These holes were drilled on a target
measuring 2.7 kilometres long and 0.4 to 0.9 kilometres wide with a target footprint of 1.7 km2 (compared
to Crawford resource of 1.5 km2). This release contains assay information on 10 completed holes (see new
releases dated April 13, 2023, and May 24, 2023). Assays are still pending on two drillholes.
With the combined 2023 and 2024 drilling, the company intends to produce an initial resource estimate
at Midlothian by mid-2025.
Table 2 – Midlothian drilling highlights.
Hole ID From
(m)
To
(m)
Length
(m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
MID24-05 15.5 406.4 390.9 0.28 0.011 0.003 0.003 0.14 4.71 0.01
including 141.5 237.5 96.0 0.30 0.012 0.003 0.003 0.12 4.33 0.01
MID24-06 0.2 253.6 253.4 0.26 0.012 0.003 0.003 0.31 5.53 0.01
including 174 253.6 79.6 0.30 0.011 0.003 0.003 0.12 4.87 0.01
and 252 399 147.0 0.30 0.011 0.003 0.003 0.11 4.59 0.01
MID24-07 2.5 385.5 383.0 0.26 0.011 0.003 0.003 0.26 5.53 0.02
including 42 85.5 43.5 0.30 0.011 0.003 0.003 0.11 4.26 0.02
MID24-08 35.3 317 281.7 0.26 0.011 0.003 0.004 0.27 5.40 0.02
and 319 399 80.0 0.28 0.011 0.003 0.003 0.14 4.69 0.01
MID24-09 6.5 89.7 83.2 0.29 0.010 0.003 0.003 0.11 4.20 0.04
and 138.5 399 260.5 0.27 0.012 0.004 0.004 0.25 5.62 0.02
including 139.5 190.5 51.0 0.30 0.011 0.003 0.003 0.26 4.06 0.03
MID24-10 126 406.5 280.5 0.24 0.012 0.004 0.005 0.26 5.60 0.03
including 286.5 342 55.5 0.29 0.011 0.003 0.004 0.14 4.67 0.01
MID24-11 8.8 31.1 22.3 0.28 0.011 0.002 0.002 0.10 3.65 0.06
and 119 385 266.0 0.26 0.012 0.003 0.003 0.28 5.39 0.02
including 119 229 110.0 0.29 0.010 0.003 0.004 0.11 4.43 0.02
MID24-12 4 71.9 67.9 0.27 0.011 0.003 0.003 0.29 5.36 0.07
and 94.2 185.5 91.3 0.19 0.012 0.006 0.008 0.39 6.72 0.04
and 212.5 399 186.5 0.23 0.011 0.003 0.003 0.24 6.00 0.02
MID24-15 31.3 501.0 469.7 0.31 0.010 0.003 0.003 0.11 4.02 0.02
Including 342.0 372.0 30.0 0.34 0.010 0.003 0.003 0.11 4.17 0.01
and 469.5 483.0 13.5 0.41 0.010 0.003 0.003 0.10 3.83 0.01
MID24-16 7 384 377.0 0.29 0.011 0.003 0.003 0.20 4.78 0.01
*True width undetermined. All lengths are drillhole lengths.
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Figure 2. – Midlothian – CNC Drillholes Over Total Magnetic Intensity.
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Deloro Project
The Deloro Project is located just 8 kilometres south of Timmins and is accessible year-round by road as
well as located less than 2 kilometres from existing powerlines. In July 2024, the Company successfully
filed a Mineral Resource Estimate on Deloro consisting of 357 million tonnes of Inferred Resources grading
0.25% nickel, and 81 million tonnes of Indicated Resources grading 0.25% nickel. In the fall of 2024, Canada
Nickel drilled 19 new holes to expand the existing resource including the known boundary of the
mineralized zone. This release outlines the results from 11 drillholes with assays pending on the remaining
eight drillholes (Figure 3). The drillholes successfully intersected strongly mineralized sections of
ultramafic rocks such as in hole DEL24-28 which returned 371.0 metres of 0.27% nickel including 39.0
metres of 0.30% nickel. The infill campaign continues to show the potential of Deloro which benefits from
lower overburden thickness, and excellent proximity to major infrastructure including roads and
powerlines. An updated resource for Deloro is planned by mid-2025.
Table 3 – Deloro drilling highlights.
Hole ID From
(m) To (m) Length
(m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
DEL24-23 8.5 70.9 62.4 0.23 0.010 0.003 0.003 0.16 5.37 0.08
and 121.3 402.0 280.7 0.26 0.010 0.003 0.003 0.28 5.25 0.06
including 339.5 375.5 36.0 0.29 0.010 0.003 0.003 0.13 5.22 0.07
DEL24-25 12.0 368.0 356.0 0.25 0.012 0.003 0.004 0.33 5.67 0.08
including 252.0 316.5 64.5 0.28 0.012 0.003 0.003 0.25 5.25 0.04
DEL24-27 14.0 226.0 212.0 0.25 0.011 0.003 0.004 0.35 5.70 0.05
and 240.0 268.5 28.5 0.27 0.011 0.003 0.003 0.28 5.19 0.08
and 277.5 501 223.5 0.27 0.011 0.003 0.003 0.28 5.19 0.08
including 339.0 358.5 19.5 0.30 0.012 0.003 0.004 0.25 5.18 0.04
and 451.5 471.0 19.5 0.30 0.012 0.003 0.003 0.22 5.34 0.05
DEL24-28 130.0 501.0 371.0 0.27 0.011 0.003 0.003 0.19 5.00 0.05
including 252.0 291.0 39.0 0.30 0.011 0.003 0.003 0.16 5.20 0.05
DEL24-29B 120.4 363.0 242.6 0.23 0.012 0.003 0.004 0.43 5.95 0.06
DEL24-31 12.5 292.3 279.8 0.26 0.011 0.003 0.003 0.23 5.24 0.08
and 317.5 389.5 72.0 0.23 0.010 0.003 0.003 0.21 4.86 0.22
and 486.5 519.0 32.5 0.22 0.010 0.003 0.003 0.20 5.25 0.09
DEL24-32 48.7 416.5 367.8 0.26 0.011 0.003 0.004 0.33 5.66 0.04
including 267.0 394.5 127.5 0.29 0.011 0.003 0.003 0.24 5.37 0.05
DEL24-33 3.6 198.8 195.2 0.24 0.010 0.003 0.003 0.18 5.21 0.06
including 4.5 22.5 18.0 0.29 0.010 0.003 0.003 0.11 5.27 0.08
DEL24-34 18.0 58.0 40.0 0.20 0.012 0.003 0.005 0.49 5.71 0.02
and 93.0 420.0 327.0 0.27 0.011 0.003 0.003 0.20 4.95 0.05
DEL24-36 42.0 231.6 189.6 0.21 0.010 0.004 0.004 0.23 5.68 0.04
DEL24-37 9.2 196.7 187.5 0.28 0.010 0.003 0.003 0.22 4.53 0.03
Including 51.0 75.0 24.0 0.30 0.011 0.003 0.003 0.27 4.73 0.01
and 204.6 501.0 296.4 0.28 0.011 0.003 0.003 0.12 5.11 0.03
*True width undetermined. All lengths are drillhole lengths.
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Figure 3 – Deloro – CNC Drillholes Over Total Magnetic Intensity.
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Nesbitt Property
The Nesbitt Property is located just 7 kilometres north-northwest of Canada Nickel’s Crawford Nickel
Sulphide Project. Nesbitt contains two ultramafic sills that strike east-west, the larger sill having a
geophysical expression of 1.0 kilometres along strike. Preliminary drill results were announced in 2021
and 2022 (see news release dated May 10, 2022).
Given the close proximity to Crawford and minimal overburden, Nesbitt could present an opportunity to
provide aggregate material to the mine site construction as well as additional nickel ore.
In the fall of 2024, the Company drilled eight new holes to infill sections of the Nesbitt ultramafic with the
goal of producing a resource estimate in 2025. The current drill program will infill the western ultramafic
and is planned for Q1 2025.
Assay results from seven of the drillholes (Figure 4) are disclosed in this release. All holes intersected
serpentinized and mineralized peridotite and lesser dunite, interrupted by minor late dykes.
Table 4 – Drilling highlights Nesbitt program
Hole ID From
(m) To (m) Length (m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
NES24-12 21.7 272.4 250.7 0.24 0.012 0.008 0.008 0.30 6.06 0.09
NES24-13 67.8 450.0 382.2 0.22 0.011 0.006 0.007 0.34 6.32 0.07
including 268.5 295.5 27.0 0.27 0.010 0.009 0.008 0.12 4.71 0.19
and 372.0 378.0 6.0 0.30 0.012 0.012 0.012 0.20 5.26 0.09
NES24-15 22.5 351.0 328.5 0.23 0.011 0.003 0.005 0.27 5.80 0.06
NES24-16 25.5 74.9 49.4 0.23 0.012 0.010 0.008 0.25 6.29 0.07
and 137.7 148.0 10.3 0.25 0.011 0.013 0.010 0.14 5.02 0.11
and 155.5 168.0 12.5 0.23 0.010 0.008 0.006 0.17 5.32 0.16
NES24-17 7.5 149.5 142.0 0.20 0.012 0.019 0.016 0.31 6.88 0.08
and 186.2 205.0 18.8 0.21 0.012 0.010 0.005 0.31 6.50 0.08
NES24-18 54.0 97.5 43.5 0.17 0.011 0.005 0.008 0.47 7.31 0.04
and 172.3 201.0 28.7 0.19 0.011 0.009 0.008 0.37 6.67 0.03
and 230.0 501.0 271.0 0.18 0.011 0.010 0.008 0.45 6.96 0.04
NES24-19 88.5 208.5 120.0 0.19 0.012 0.010 0.006 0.39 7.10 0.05
and 214.8 308.8 94.0 0.24 0.011 0.008 0.006 0.20 5.80 0.05
*True width undetermined. All lengths are drillhole lengths.