Canada Nickel Announces Assay Results from Massive Sulphide Intersection at Bannockburn Project
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Canada Nickel Announces Assay Results from
Massive Sulphide Intersection at Bannockburn Project
Highlights
• 3.95% nickel, 0.40% copper, 0.15% cobalt and 1.08 g/t palladium & platinum over 4.0 metres
within 1.61% nickel over 12 metres
• Drilling continuing in Bannockburn B-Zone to target other high conductivity areas
TORONTO, November 11, 2024 – Canada Nickel Company Inc. ("Canada Nickel " or the
"Company") (TSXV: CNC) (OTCQX: CNIKF) today announced it has received assays for drillhole BAN24-
18 which intersected 4.0 metres of massive sulphide within a disseminated sulphide-bearing peridotite at
Bannockburn, one of the Company’s southern exploration properties in the Timmins Mining Camp.
CEO Mark Selby said, “ These are very exciting results and one of the highest-grade nickel intervals
discovered this year - highlighting the potential of our district scale land package and significant nickel
resources to also deliver high grade nickel. I look forward to further unlocking the potential of the
Bannockburn F-Zone target, while also continuing to test the other high potential conductors identified in
other zones of the Bannockburn property.”
Bannockburn Property
The Bannockburn Property is located 65 kilometres south of Timmins and approximately 20 kilometres
west of Matachewan, Ontario and is located in the vicinity of the Company’s Midlothian and Sothman
properties. The Company has been primarily focused on the large tonnage, low grade nickel zone (the B-
Zone) and has identified a number of new prospective targets which are being tested for higher-grade
material.
Bannockburn F-Zone
Results from assays for m assive sulphides identified in drillhole BAN24-18 confirmed very high-grade
nickel mineralization of 3.95% nickel over 4 metres and up to 4.65% nickel over 1 metre within a well
mineralized zone of 1.61% nickel in 12 metre drillhole length. (Figures 1a,b,c).
Canada Nickel was testing the previously identified F-Zone (Figure 2) which had been historically drilled
by Outokumpu Mining Oy and Mustang Minerals Corp. in the late 1990s and early 2000s and yielded
narrow intervals of net-textured and massive sulphide mineralization including 2.8 metres of 2.9% nickel
approximately 50 metres east of the current interval.
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The Company is now conducting a borehole electromagnetic (BHEM) survey. The BHEM survey will test
for the presence of conductive sulphide mineralization beyond the extents of the drillhole and can indicate
the approximate size and location of the conductor representing the mineralized sulphide system.
Additional holes will be drilled based on the BHEM results.
Canada Nickel is also following up with similar targets inside the B-Zone that were highlighted during a
semi-airborne EM survey (drone and ground loop) that was flown during the summer of 2024, performed
by Rosor Corp. The survey shows two other higher conductivity/lower resistivity targets within the B-Zone.
Table 1: Selected Assays BAN24-18
Hole ID From
(m)
To
(m)
Length
(m)* Ni % Cu % Co % Pd g/t Pt g/t
BAN24-18 238.7 264.0 25.3 0.85 0.083 0.036 0.145 0.086
including 252.0 264.0 12.0 1.61 0.169 0.065 0.289 0.171
including 260.0 264.0 4.0 3.95 0.399 0.152 0.658 0.427
including 261.0 264.0 3.0 4.36 0.322 0.167 0.385 0.390
*Drillhole length. True width not calculated
Figure 1 – BAN24-18, core pictures a; (256.1-267 metres). b; (260.3-263.4 metres), c; ( select intervals
257.2-262.7 metres )
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a) Peridotite to Massive sulphide, to volcanics; b) Net-texture sulphides (Po (Pyrrhotite)>Pn (Pentlandite)>>Cpy
(Chalcopyrite); c) Disseminated sulphides on peridotite, into massive sulphides Po>Pn;
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Table 2: Drillhole Orientation
Hole ID Easting (mE) Northing (mN) Azimuth (⁰) Dip (⁰) Length (m)
F-Zone
BAN24-18 507393 5311706 70 -80 441
Figure 2 Total Magnetic Intensity and F-zone location
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Statement Regarding TSX Venture
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Quality Assurance and Control, Drilling and Assaying
Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101 – Standards
of Disclosure for Mineral Projects, is responsible for the on-going drilling and sampling program, including
quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays
and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut
with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada
Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield
for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025
accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay
while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and
ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core
samples making a batch of 60 samples that are submitted for analysis.
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is
defined by National Instrument 43 -101 – Standards of Disclosure for Mineral Projects , has verified the
data disclosed in this news release, and has otherwise reviewed and approved the technical information
in this news release on behalf of Canada Nickel.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel
required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has
applied in multiple jurisdictions to trademark the terms NetZero Nickel TM, NetZero Cobalt TM, NetZero
IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel,
cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk
jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cob alt
Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please
visit www.canadanickel.com.
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: [email protected]
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward looking information includes, but is not limited to,
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drill and exploration results relating to the target properties described herein (the "Properties"), the
significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any
resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and
completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic
plans, including future exploration and development plans and results, corporate and technica l
objectives, and the completion of assays , follow-up geophysics and further drilling . Forward -looking
information is necessarily based upon several assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or implied by such forward -looking
information. Factors that could affect the outcome include, among others: future prices and the supply
of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to
incur the expenditures required to retain and advance the property, environmental liabilities (known
and unknown), general business, economic, competi tive, political and social uncertainties, results of
exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure
to obtain regulatory or shareholder approvals . There can be no assurance that such information wi ll
prove to be accurate, as actual results and future events could differ materially from those anticipated
in such information. Accordingly, readers should not place undue reliance on forward -looking
information. All forward-looking information contained in this press release is given as of the date hereof
and is based upon the opinions and estimates of management and information available to management
as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any
forward-looking information, whether because of new information, future events or otherwise, except
as required by law.