Canada Nickel Announces New Discovery at Mann Northwest Property, Provides Update on Regional Drilling at Midlothian and Sothman
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Canada Nickel Announces New Discovery at Mann Northwest Property,
Provides Update on Regional Drilling at Midlothian and Sothman
Highlights
• First four holes at Mann Northwest intersected multi-hundred metre intervals of mineralized
peridotite and dunite
• Long, shallow mineralized intervals reported at both Sothman and Midlothian
o Midlothian returned 343 metres of 0.28% nickel starting at 2 metres
o Sothman returned 319 metres of 0.29% nickel starting at 15 metres in East Zone
• High-grade mineralization confirmed at Sothman within larger mineralized intervals
o 1.28% nickel over core length of 5.3 metres from 58.7 metres, within 192 metres of
0.31% nickel in West Zone
TORONTO, May 24, 2023 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC)
(OTCQX: CNIKF) today released assay results from its 100% owned Sothman Property located 70 kilometres
south of Timmins, Ontario, its optioned Midlothian Property and initial drilling results from the first 4 holes
at its optioned Mann Northwest property.
Mark Selby, CEO of Canada Nickel commented “Our regional exploration program successfully continues to
deliver positive results, as we add Mann Northwest to the string of successes at Reid, Deloro, Sothman,
Texmont and Midlothian. We are very encouraged by the first assay results from Midlothian , which
delivered above average nickel grades of 0.2 8% across the entire core length and our drilling at Sothman
has confirmed the historical higher -grade results within a much larger mineralized envelope in Sothman
West and a large bulk tonnage target at Sothman East. We look forward to releasing our latest results from
our Texmont property shortly.”
Mann Northwest Property
The Mann property is located 22 kilometres east of Crawford and 45 kilometres northeast of Timmins. The
property consists of at least three main ultramafic targets like that at Crawford –Mann Northwest with a
target footprint of 6.0 km2, Mann Central with a target footprint of 3.1 km2, and Mann Southeast with a
target footprint of 4.1 km2 - compared to Crawford target footprint of 1.6 km2 (see Figure 1).
Drilling started in the Northwest zone, with the first four drillholes intersecting very strongly serpentinized
peridotite and minor dunite. These first four holes delineate d mineralization along 800 metres of strike
length and a width of at least 500 metres within a total target length of 10.4 kilometres. Mann Northwest
remains open in all directions . Mineralogy and assays are pending. All four holes collared in
dunite/peridotite with lesser intersections of pyroxenite and some minor dykes (Figure 1). All holes show
strong serpentinization, and fine-grained mineralization throughout.
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Figure 1. Plan View of Mann zones with ongoing drilling in Northwest area.
Midlothian Property
Canada Nickel has an option to acquire the Midlothian property from Canadian Gold Miner. The property is
located 70 k ilometres south-southeast of Timmins, 25 k ilometres west of Matachewan and is directly
accessible by road.
Four drillholes were completed during the winter of 2023. Hole MID23 -01, which entered mineralized
dunite after 2 metres of overburden, intersected 0.28% nickel over 343 metres with the hole ending in
mineralized dunite (see Table 1 and Figure 2). The first two holes (MID23-01 and MID23-02) were sent for
QEMSCAN that showed awaruite to be the dominant nickel-bearing mineral (April 13, 2023, release). Assays
for the remaining holes are pending.
Table 1: Midlothian drilling downhole composite
Hole ID From To Length Ni Co Pd Pt Cr Fe S
(m) (m) (m) (%) (%) (g/t) (g/t) (%) (%) (%)
MID23-01 1.5 345.0 343.5 0.28 0.01 0.003 0.003 0.16 4.55 0.02
Mann Northwest: 6.0 km2
0.4-1.0 km wide by 10.4 km long
Mann Central: 3.1 km2
0.5-1.0 km wide by 4.5 km long
Mann Southeast: 4.1 km2
0.4-0.9 km wide by 6.1 km long
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Figure 2. Plan View of Midlothian drilling with assay results for MID23-01.
Sothman Property
The S othman property consists of 5 0 mining leases acquired from Glencore Canada Corporation
(“Glencore”) in 2021 and totaling 1,000 hectares. Canada Nickel has a 100% interest in the patents subject
to certain royalty and offtake provisions with Glencore. The property has a high -grade West Zone and a
large tonnage, low -grade East Zone, both road-accessible by a n all -year road (Figure 3). A pow er line
corridor is located less than 6 kilometres east of the property.
Sothman West Zone
Drilling in the West Zone targeted high-grade nickel with ten of eleven holes intersecting mineralization.
The best intersections (Table 2) occurred in SOT22 -09 which encountered 1.28% nickel over 5.3 metres
within 192.3 metres of 0.31% nickel and SOT22-08 which encountered 0.99% nickel over 10.5 metres within
77.7 metres of 0.37% nickel.
The West Zone is mineralized along a strike length of approximately 300 metres, a width of 100-120 metres
and remains open at depth. There is a shallow historical resource of approximately 190,000 tons of 1.24%
nickel1).
1 The Sothman historical resource estimate is unclassified and does not comply with CIM Definition Standards on Mineral
Resources and Mineral Reserves as required by NI 43-101. The historical resource was reported by D. R. Bell for Sothman Mines
Limited on Oct. 1, 1969, as 189,753 tons of 1.24% nickel using a 1.00% nickel cut-off. The reliability of these historical resources
is considered reasonable, but a qualified person has not done sufficient work to classify the historical resource estimate as a
current mineral resource and the Company is not treating the historical resource estimate as a current resource.
Midlothian: 1.7 km2
0.4-0.9 km wide and 2.7 km long
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Fig 3. Sothman 2022 drilling with assays
Fig 4. Sothman 2022 West zone, drilling with assays
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Sothman East Zone
Seven drillholes were drilled within the East Zone, a large, highly serpentinized , ultramafic sill composed
mostly of peridotite and dunite and delineated mineralization across 1.6 k ilometres length and ranging in
width between 160 and 300 metres open at depth. The magnetic anomaly measures 2.2 kilometres along
strike.
All seven holes intersected mineralized peridotite and dunite (see Table 3). SOT23 -18 intersected 319.3
metres of mineralized peridotite at 0.29% nickel starting at 15 metres downhole. Six of the seven holes had
mineralized intervals over 140 metres. SOT22 -02 intersected 31.5 metres of 0.62 g/t Pt+ Pd hosted in a
Pyroxenite-Peridotite transitional contact.
Table 2: Sothman drilling, Higher Grade Nickel and PGM intersects of assays.
Hole ID From To Length Ni Pt+Pd Pd Pt Co S
(m) (m) (m) (%) (g/t) (g/t) (g/t) (%) (%)
West Zone
SOT22-06 42.5 53.5 11.0 0.55 0.149 0.102 0.047 0.02 1.37
SOT22-08 57.5 68.0 10.5 0.99 0.225 0.154 0.070 0.03 2.64
SOT22-09 58.7 64.0 5.3 1.28 0.406 0.297 0.109 0.03 3.11
SOT22-11 139.4 141.9 2.5 0.71 0.177 0.125 0.052 0.02 0.68
SOT23-13 30.5 41.0 10.5 0.87 0.243 0.173 0.070 0.02 2.73
SOT23-14 43.7 59.0 15.3 0.69 0.176 0.128 0.048 0.02 1.68
SOT23-15 141.5 183.5 42.0 0.42 0.084 0.054 0.030 0.01 0.15
SOT23-19 98.0 107.0 9.0 0.60 0.352 0.204 0.148 0.01 0.26
East Zone
SOT22-02 107.0 138.5 31.5 0.15 0.626 0.368 0.258 0.01 0.04
Table 3: Sothman drilling downhole composites
Hole ID From To Length Ni Co Pd Pt Cr Fe S
(m) (m) (m) (%) (%) (g/t) (g/t) (%) (%) (%)
WEST ZONE
SOT22-06 39.5 200.0 160.5 0.29 0.01 0.010 0.009 0.17 5.46 0.15
SOT22-07 64.1 251.0 186.9 0.27 0.01 0.005 0.006 0.15 5.04 0.06
SOT22-08 51.7 129.4 77.7 0.37 0.01 0.031 0.020 0.21 6.55 0.50
SOT22-09 58.7 251.0 192.3 0.31 0.01 0.011 0.011 0.16 5.44 0.14
SOT22-10 151.0 179.0 28.0 0.27 0.01 0.004 0.009 0.18 6.02 0.03
SOT22-11 139.4 251.0 111.6 0.29 0.01 0.012 0.013 0.14 5.43 0.05
SOT23-13 26.5 219.5 193.0 0.33 0.01 0.023 0.015 0.15 5.50 0.29
SOT23-14 43.7 266.0 222.3 0.33 0.01 0.030 0.016 0.15 5.75 0.21
SOT23-15 37.5 243.9 206.4 0.30 0.01 0.016 0.013 0.15 5.39 0.09
SOT23-16 89.0 239.0 150.0 0.27 0.01 0.005 0.008 0.14 5.56 0.06
SOT23-19 26.0 245.0 219.0 0.28 0.01 0.014 0.013 0.17 5.44 0.08
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EAST ZONE
SOT22-01 39.7 234.7 195.0 0.26 0.01 0.003 0.003 0.22 5.43 0.03
SOT22-02 43.7 260.0 216.3 0.17 0.01 0.073 0.067 0.42 7.72 0.07
SOT22-03 39.5 184.9 145.4 0.25 0.01 0.003 0.005 0.16 5.62 0.02
SOT22-04 39.7 89.8 50.1 0.23 0.01 0.006 0.006 0.48 6.30 0.02
SOT22-05 38.0 353.0 315.0 0.26 0.01 0.003 0.004 0.20 5.42 0.01
SOT23-17 67.4 344.9 277.5 0.26 0.01 0.003 0.006 0.19 5.46 0.04
SOT23-18 14.7 334.0 319.3 0.29 0.01 0.003 0.005 0.16 5.17 0.04
Table 4: Drillhole Orientation
Hole ID Zone Easting (mE) Northing (mN) Azimuth (⁰) Dip (⁰) Length (m)
SOT22-01 Sothman East 483862 5298973 10 -50 377
SOT22-02 Sothman East 483863 5298985 195 -50 431
SOT22-03 Sothman East 483490 5299040 10 -50 281
SOT22-04 Sothman East 483495 5299055 190 -50 245
SOT22-05 Sothman East 483119 5299264 190 -50 353
SOT22-06 Sothman West 481748 5299478 183 -45 200
SOT22-07 Sothman West 481748 5299479 183 -60 251
SOT22-08 Sothman West 481748 5299478 150 -45 170
SOT22-09 Sothman West 481706 5299498 180 -50 251
SOT22-10 Sothman West 481706 5299498 180 -70 179
SOT22-11 Sothman West 481653 5299561 180 -45 251
SOT22-12 Sothman West 481653 5299561 180 -80 455
SOT23-13 Sothman West 481585 5299520 180 -45 281
SOT23-14 Sothman West 481585 5299520 180 -62 266
SOT23-15 Sothman West 481535 5299516 180 -50 287
SOT23-16 Sothman West 481506 5299542 180 -60 239
SOT23-17 Sothman East 482675 5299095 10 -50 381
SOT23-18 Sothman East 482320 5299160 10 -50 345
SOT23-19 Sothman West 481613 5299398 25 -78 245
MID23-01 Midlothian 499710 5303026 180 -50 345
MID23-02 Midlothian 499299 5303052 180 -50 401
MID23-03 Midlothian 498902 5303053 180 -50 401
MID23-04 Midlothian 500915 5303042 180 -50 401
MAN23-01 Mann NW 495641 5412486 235 -50 432
MAN23-02 Mann NW 495967 5412226 235 -50 402
MAN23-03 Mann NW 495967 5412226 35 -50 402
MAN23-04 Mann NW 496257 5411972 235 -50 402
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Assays, Quality Assurance/Quality Control and Drilling and Assay
Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101, 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 is defined by
National Instrument 43 -101, has verified the data disclosed in this news release, and has otherw ise
reviewed and approved the technical information in this news release on behalf of Canada Nickel
Company Inc.
The magnetic images shown in this press release were created from Canada Nickel's interpretation of
datasets provided by the Ontario Geological Survey.
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 -Cobalt
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,
exploration results and development of processes to allow the production of net zero carbon nickel, the
carbon capture approach could allow production of Net Zero nickel and generation of an additional
tonnes of CO2 credits per tonne of nickel produced after offsetting all emissions, the potential to t urn
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nickel mine into a generator of carbon credits rather than generator of carbon emissions, the production
of estimated average of 710,000 tonnes of carbon credits annually and 18 million total tonnes of CO2 of
credits over expected life of mine at Crawf ord, the ability to monetize carbon credits, the ability to
quantify carbon capture, emission estimates, the brucite content of the deposit, the scalability of the
process, the metallurgical results, the timing and results of the feasibility study includin g the viability of
the inclusion of the IPT Carbonation Process and related facilities as part of the project, the results of
Crawford’s PEA, including statements relating to net present value, future production, estimates of cash
cost, proposed mining pla ns and methods, mine life estimates, cash flow forecasts, metal recoveries,
estimates of capital and operating costs, timing for permitting and environmental assessments,
realization of mineral resource estimates, capital and operating cost estimates, proj ect and life of mine
estimates, ability to obtain permitting by the time targeted, size and ranking of project upon achieving
production, 5 economic return estimates, the timing and amount of estimated future production and
capital, operating and explorati on expenditures and potential upside and alternatives. Readers should
not place undue reliance on forwardlooking statements. Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, per formance or
achievements of Canada Nickel to be materially different from any future results, performance or
achievements expressed or implied by the forward -looking statements. There are no assurances that
Crawford will be placed into production. Factors that could affect the outcome include, among others:
the actual results of development activities; project delays; inability to raise the funds necessary to
complete development; general business, economic, competitive, political and social uncertainties;
future prices of metals or project costs could differ substantially and make any commercialization
uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions
of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to
be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of
the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental
approvals, necessary permitting or in the completion of development or construction activities; mineral
resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever;
additional but currently unforeseen work may be required to advance to the feasibility stage; and even if
Crawford goes into production, there is no assurance that operations will be profitable. Although Canada
Nickel has attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward -looking statements, there may be other factors that
cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news release and Canada Nickel disclaims
any obligation to update any forward-looking statements, whether as a result of new information, future
events or results or otherwise, except as required by applicable securities laws.
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