Canada Nickel Completes Current Phase of Crawford Drilling, Announces Highest Grade Interval to Date
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Canada Nickel Completes Current Phase of Crawford Drilling,
Announces Highest Grade Interval to Date
Highlights
▪ Best Crawford high-grade interval to date; core length of 64 .5 metres of 0.71% nickel from
472.5 metres including 6 metres of 1.04% nickel from East Zone High Grade Core
▪ Main Zone mineralization successfully drilled to a depth of 1 kilometre
▪ East Zone mineralization successfully infilled and extended by a further 33% to strike length
of 2.8 kilometres
▪ PGM Zone continues to expand – 1.4 g/t PGM over 11.4 metres core length including 2.5 g/t
PGM over 3 metres core length
TORONTO, April 4, 2022 – Canada Nickel Company Inc. ("Canada Nickel" or the " Company") (TSXV: CNC) (OTCQX:
CNIKF) announced today it had completed its current phase of drilling at the Company’s flagship Crawford Nickel
Sulphide Project and is reporting assay results from 33 drill holes from the Crawford drilling program including
additional assay results from the previously announced East Zone High Grade Core discovery. A further 37 holes have
been drilled at Crawford with assays pending.
Mark Selby, Chair and Chief Executive Officer said, “We are very excited to reach this key milestone of completing this
phase of infill drilling at Crawford to support the feasibility study. The Crawford drilling program continued to deliver
strong results, with this phase yielding the highest-grade interval to date, a 33% increase in strike length of East Zone
mineralization to 2.8 kilometres, and further testing of Main Zone at depth to more than one kilometre. With more
than 200 holes now completed - more than three times the drilling utilized in the Preliminary Economic Analysis
(“PEA”) – we are well-positioned to deliver a resource increase by mid-year to support the feasibility study expected
by the end of this year.”
Crawford East Zone
The East Zone was originally defined as two separate zones due to the limited amount of drilling included in the May
2021 PEA. Since then, Canada Nickel has drilled 38 more holes, 12 of which are summarized in this press release.
Assays are still outstanding in the remaining 26 holes. The East Zone is now defined as a single continuous ultramafic
unit mineralized over its strike length of 2.8 kilometres. It averages 200 metres in thickness and has been drilled to a
vertical depth to as much as 730 metres and remains open at depth. The East Zone Higher Grade Core was successfully
intercepted in multiple holes designed to better define its extent. Hole CR21-165A was mineralized across its entire
690 metres length including a 409.5 metre interval of 0.34% nickel (42 metre true width) and 111 metre interval of
0.40% nickel (11.6 metres true width). Hole CR21-153 was mineralized over entire core length grading 0.30% nickel
over 584 metres including 0.45% nickel over 174 m etres, 0.71% nickel over 64.5 metres, and 1.04% nickel over 6
metres. Holes CR21-136, CR21-149, CR21-156 and CR21-165 also successfully intercepted Higher Grade Core.
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Figure 1: Plan View of East Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide
Project, Ontario.
Table 1: East Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario.
Hole ID From To Length Est. True Ni Co Pd Pt Cr Fe S
(m) (m) (m) Width (m) (%) (%) (g/t) (g/t) (%) (%) (%)
CR21-119 39.7 479.0 439.3 219.7 0.24 0.012 0.014 0.010 0.58 6.27 0.04
including 221.0 434.0 213.0 106.5 0.27 0.012 0.003 0.003 0.61 5.60 0.03
CR21-123 22.0 507.0 485.0 242.5 0.20 0.012 0.008 0.007 0.62 6.44 0.02
including 261.5 430.5 169.0 84.5 0.26 0.012 0.006 0.005 0.66 5.74 0.02
CR21-125 72.0 375.6 303.6 151.8 0.22 0.012 0.008 0.006 0.59 6.43 0.05
including 232.5 348.0 115.5 57.8 0.27 0.012 0.011 0.006 0.68 5.46 0.06
CR21-127 87.0 300.0 213.0 136.9 0.21 0.013 0.007 0.006 0.57 6.54 0.06
including 177.0 259.5 82.5 53.0 0.25 0.012 0.004 0.005 0.64 5.57 0.06
CR21-131 39.0 346.5 307.5 130.0 0.20 0.012 0.010 0.007 0.56 6.71 0.08
including 198.0 295.5 97.5 41.2 0.26 0.012 0.018 0.010 0.61 5.81 0.07
CR21-133 99.0 285.0 186.0 93.0 0.23 0.012 0.006 0.006 0.64 6.30 0.06
including 180.0 271.5 91.5 45.8 0.26 0.012 0.007 0.007 0.64 5.68 0.07
CR21-136 37.5 327.0 289.5 166.1 0.24 0.012 0.034 0.013 0.62 6.25 0.07
including 129.0 285.0 156.0 89.5 0.28 0.012 0.056 0.019 0.66 5.76 0.08
including 235.5 271.5 36.0 20.6 0.34 0.013 0.230 0.065 0.71 5.90 0.11
including 241.5 255.0 13.5 7.7 0.40 0.011 0.560 0.113 0.72 5.64 0.10
CR21-138 47.5 336.0 288.5 144.3 0.22 0.012 0.010 0.008 0.57 6.08 0.07
including 163.5 268.5 105.0 52.5 0.27 0.012 0.007 0.006 0.57 5.19 0.08
CR21-143 48.6 499.2 450.6 289.6 0.24 0.012 0.003 0.006 0.64 5.94 0.03
including 48.6 334.0 285.4 183.5 0.26 0.012 0.003 0.005 0.61 5.75 0.03
CR21-147 29.2 315.0 285.9 183.7 0.22 0.012 0.005 0.005 0.65 6.30 0.05
including 35.0 134.0 99.0 63.6 0.27 0.012 0.003 0.005 0.71 5.56 0.05
CR21-149 31.1 472.6 441.5 23.1 0.26 0.013 0.019 0.012 0.68 6.22 0.12
including 257.5 353.5 96.0 5.0 0.31 0.014 0.053 0.024 0.75 5.93 0.12
including 313.0 344.5 31.5 1.6 0.37 0.017 0.143 0.049 0.70 6.06 0.19
and 452.5 472.6 20.1 1.1 0.34 0.020 0.055 0.024 0.60 6.41 0.34
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Table 1: East Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario (continued).
Hole ID From To Length Est. True Ni Co Pd Pt Cr Fe S
(m) (m) (m) Width (m) (%) (%) (g/t) (g/t) (%) (%) (%)
CR21-153 85.0 669.0 584.0 40.7 0.30 0.013 0.020 0.012 0.63 6.04 0.12
including 397.5 571.5 174.0 12.1 0.45 0.015 0.057 0.026 0.68 5.95 0.29
including 472.5 537.0 64.5 4.5 0.71 0.016 0.115 0.035 0.64 5.53 0.46
including 492.0 498.0 6.0 0.4 1.04 0.018 0.092 0.033 0.63 5.24 0.82
CR21-156 84.0 657.8 573.8 40.0 0.28 0.013 0.018 0.010 0.68 6.19 0.16
including 394.0 601.0 207.0 14.4 0.35 0.015 0.039 0.019 0.74 6.28 0.37
including 443.5 550.0 106.5 7.4 0.38 0.016 0.062 0.026 0.76 6.67 0.51
CR21-160 30.7 549.0 518.3 177.3 0.24 0.013 0.007 0.004 0.63 6.10 0.03
including 304.5 475.5 171.0 58.5 0.27 0.012 0.003 0.003 0.65 5.75 0.02
CR21-165 36.2 555.0 518.8 40.7 0.29 0.013 0.038 0.018 0.70 5.89 0.11
including 270.0 555.0 285.0 22.4 0.33 0.014 0.062 0.030 0.71 5.79 0.19
including 270.0 308.0 38.0 3.0 0.37 0.011 0.078 0.083 0.63 5.24 0.10
and 472.5 525.0 52.5 4.1 0.42 0.019 0.060 0.023 0.72 6.65 0.36
CR21-165A 45.0 735.0 690.0 72.1 0.30 0.014 0.042 0.019 0.70 6.09 0.19
including 270.0 679.5 409.5 42.8 0.34 0.015 0.065 0.028 0.71 6.12 0.29
including 468.0 579.0 111.0 11.6 0.40 0.018 0.046 0.018 0.73 6.85 0.56
including 469.5 501.0 31.5 3.3 0.51 0.017 0.044 0.019 0.73 6.17 0.39
Crawford Main and West Zone
Drilling within the Main and West Zone consisted of infill drilling to upgrade the resource and expand the resource
northwest of the existing Main Zone Resource Estimate. A total of 39 holes were completed with 21 holes summarized
in this release and 18 holes with assays pending.
Drilling westward from the Main Zone has extended the mineralization continuously from the existing resource for a
distance of 850 metres to the northwest where it remains open along strike and at depth. This mineralization includes
a higher-grade zone as intersected in hole CR21-144 (core length of 69.5 metres of 0.43% Ni starting at 152 m). Four
hundred metres farther to the north, mineralized ultramafic continues to be found such as CR21-130 which intersected
0.24% nickel over core length of 525 metres starting at 32.8 metres including a higher-grade zone of 0.34% nickel over
33.0 metres starting at 322.5 m. Hole CR22-198 was drilled to a core length of 1.04 kilometres and was continuously
mineralized below 39 metres of overburden.
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Figure 2: Plan View of Main Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide
Project, Ontario.
Table 2: Main and West Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario.
Hole ID From To Length Est. True Ni Co Pd Pt Cr Fe S
(m) (m) (m) Width (m) (%) (%) (g/t) (g/t) (%) (%) (%)
CR21-110 57.0 426.0 369.0 237.2 0.23 0.013 0.007 0.011 0.58 7.39 0.02
including 57.0 160.5 103.5 66.5 0.29 0.012 0.018 0.024 0.48 7.21 0.03
CR21-115 88.5 450.0 361.5 232.4 0.21 0.012 0.003 0.005 0.62 7.23 0.07
CR21-120 111.0 447.0 336.0 216.0 0.23 0.012 0.003 0.004 0.55 6.99 0.05
including 255.5 417.5 162.0 104.1 0.27 0.012 0.003 0.004 0.68 6.80 0.04
CR21-122 42.3 501.0 458.7 294.8 0.24 0.012 0.005 0.004 0.54 6.64 0.02
including 231.0 501.0 270.0 173.6 0.28 0.012 0.006 0.005 0.63 6.15 0.02
CR21-126A 39.0 546.0 507.0 290.8 0.24 0.013 0.007 0.006 0.54 7.03 0.04
including 186.0 510.0 324.0 185.8 0.27 0.012 0.006 0.005 0.58 6.94 0.04
CR21-128 40.9 549.0 508.1 326.6 0.24 0.013 0.017 0.012 0.59 7.27 0.05
including 171.5 312.5 141.0 90.6 0.26 0.012 0.005 0.004 0.64 6.99 0.05
CR21-130 32.8 558.0 525.2 337.6 0.24 0.013 0.016 0.010 0.58 7.04 0.06
including 322.5 355.5 33.0 21.2 0.34 0.016 0.035 0.019 0.55 7.64 0.15
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Table 2: Main and West Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario (continued).
Hole ID From To Length Est. True Ni Co Pd Pt Cr Fe S
(m) (m) (m) Width (m) (%) (%) (g/t) (g/t) (%) (%) (%)
CR21-132 67.0 489.0 422.0 271.3 0.24 0.014 0.016 0.015 0.60 7.38 0.02
including 67.0 169.5 102.5 65.9 0.29 0.013 0.052 0.033 0.59 6.96 0.07
including 129.0 165.0 36.0 23.1 0.36 0.013 0.125 0.077 0.40 6.97 0.12
including 135.0 151.5 16.5 10.6 0.43 0.013 0.104 0.018 0.47 7.16 0.15
CR21-135 67.0 564.0 497.0 319.5 0.24 0.012 0.012 0.011 0.58 7.14 0.03
including 67.0 275.5 208.5 134.0 0.27 0.011 0.024 0.015 0.56 6.74 0.04
CR21-137 61.0 468.0 407.0 233.4 0.21 0.013 0.003 0.006 0.55 7.18 0.02
including 61.0 109.5 48.5 27.8 0.25 0.013 0.003 0.005 0.31 7.15 0.02
CR21-139 46.5 465.5 419.0 240.3 0.25 0.014 0.021 0.014 0.62 7.38 0.04
including 46.5 208.0 161.5 92.6 0.27 0.014 0.014 0.008 0.58 7.43 0.05
CR21-141 46.5 586.5 540.0 309.7 0.22 0.012 0.003 0.005 0.51 6.79 0.04
including 46.5 218.5 172.0 98.7 0.25 0.012 0.004 0.005 0.61 6.30 0.05
CR21-144 60.0 369.0 309.0 130.6 0.29 0.015 0.034 0.011 0.38 7.14 0.10
including 152.5 369.0 216.5 91.5 0.33 0.015 0.026 0.010 0.30 7.26 0.12
including 152.5 222.0 69.5 29.4 0.43 0.016 0.040 0.012 0.31 7.31 0.15
CR21-145 82.0 667.5 585.5 335.8 0.21 0.013 0.009 0.010 0.59 7.29 0.06
CR21-148 49.0 505.0 456.0 261.6 0.25 0.014 0.015 0.014 0.57 7.42 0.04
including 328.0 396.0 68.0 39.0 0.31 0.014 0.061 0.035 0.38 7.53 0.06
and 482.5 502.0 19.5 11.2 0.33 0.014 0.015 0.009 0.76 7.81 0.05
and 373.0 391.0 18.0 10.3 0.42 0.015 0.018 0.010 0.37 7.49 0.13
CR21-152 63.9 535.5 471.6 270.5 0.24 0.012 0.006 0.005 0.57 7.04 0.05
including 262.5 477.0 214.5 123.0 0.28 0.013 0.009 0.005 0.69 7.31 0.04
CR21-155 46.0 579.0 533.0 250.2 0.28 0.011 0.016 0.007 0.61 6.60 0.06
including 198.0 483.0 285.0 133.8 0.32 0.011 0.021 0.007 0.60 6.83 0.07
including 447.0 481.5 34.5 16.2 0.37 0.012 0.034 0.011 0.71 5.83 0.20
CR21-157 45.5 549.0 503.5 288.8 0.22 0.013 0.006 0.012 0.54 6.97 0.02
including 475.0 549.0 74.0 42.4 0.27 0.014 0.016 0.022 0.32 6.92 0.02
CR21-159 30.2 366.0 335.8 192.6 0.27 0.013 0.015 0.009 0.62 6.27 0.06
including 81.0 187.5 106.5 61.1 0.34 0.013 0.027 0.011 0.73 5.25 0.14
including 90.0 135.0 45.0 25.8 0.39 0.014 0.037 0.013 0.76 4.33 0.22
including 94.5 123.0 28.5 16.3 0.41 0.014 0.040 0.014 0.75 4.30 0.25
CR21-162 25.5 396.0 370.5 95.9 0.29 0.013 0.022 0.014 0.64 6.54 0.07
including 112.5 274.5 162.0 41.9 0.33 0.013 0.033 0.011 0.58 6.47 0.05
PGM Zone
PGM mineralization continued to be targeted with five additional holes. These results confirm the association of a PGM
zone along the boundary of a gravity high structure which has a circumference of approximately 9.7 kilometres and
borders the nickel mineralization in the Main and East Zones. Grades and true widths are consistent with previously
reported drilling. Higher grade intervals, such as 2.8 g/t PGM over 1.5 metres (true width) in CR21-133 occur in some
holes and lower grade intervals, such as 0.9 g/t PGM over 2 metres (true width) in CR21-134A occur in other holes, but
the PGM Zone appears to be largely continuous. The PGM Zone will be more intensively targeted with a drill program
during 2022.
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Figure 3: Plan View of PGM Zone – Drill Results Overlain on Gravity Vertical Gradient , Crawford Nickel Sulphide
Project, Ontario.
Table 3: PGM Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario.
Hole ID From To Length Est. True Pd + Pt Pd Pt Ni Co Cr Fe S
(m) (m) (m) Width (m) (g/t) (g/t) (g/t) (%) (%) (%) (%) (%)
CR21-124 499.5 505.5 6.0 3.9 1.5 0.547 0.950 0.05 0.012 0.54 7.44 0.02
including 532.6 544.0 11.4 7.3 1.4 0.706 0.706 0.02 0.006 0.46 6.04 0.03
including 537.0 540.0 3.0 1.9 2.5 1.305 1.240 0.02 0.006 0.45 6.25 0.01
and 550.9 553.1 2.2 1.4 2.3 1.096 1.190 0.03 0.007 0.44 5.81 0.03
CR21-129A (partial) 373.5 381.0 7.5 4.8 1.3 0.621 0.660 0.03 0.009 0.39 5.81 0.07
including 375.0 378.0 3.0 1.9 2.5 1.240 1.280 0.02 0.008 0.32 5.48 0.00
CR21-131 355.5 358.5 3.0 1.3 0.9 0.463 0.480 0.02 0.007 0.38 5.64 0.05
CR21-133 345.0 355.5 10.5 5.3 1.4 0.673 0.693 0.02 0.007 0.32 5.81 0.12
including 349.5 352.5 3.0 1.5 2.8 1.395 1.375 0.02 0.007 0.28 5.91 0.10
CR21-134A 342.0 348.0 6.0 3.0 1.3 0.599 0.685 0.02 0.007 0.34 5.60 0.06
including 345.0 346.5 1.5 0.8 2.4 1.100 1.270 0.03 0.007 0.40 5.76 0.05
and 379.5 383.5 4.0 2.0 0.9 0.384 0.501 0.05 0.012 0.36 7.00 0.03
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Table 4: Drill Hole Orientation
Hole ID Easting Northing Azimuth Collar Dip Length
(mE) (mN) (⁰) (⁰) (m)
CR21-110 472,338 5,409,413 225 -50 369.0
CR21-115 472,590 5,409,191 225 -50 361.5
CR21-119 474,299 5,409,995 180 -60 439.3
CR21-120 472,135 5,410,036 270 -50 336.0
CR21-122 472,088 5,410,242 270 -50 458.7
CR21-123 474,503 5,409,983 180 -60 485.0
CR21-124 472,040 5,410,238 90 -50 515.0
CR21-125 474,605 5,409,699 360 -60 303.6
CR21-126A 472,021 5,410,135 270 -55 507.0
CR21-127 474,402 5,409,726 360 -50 213.0
CR21-128 472,036 5,410,035 270 -50 508.1
CR21-129A 474,201 5,409,753 360 -50 335.0
CR21-130 472,059 5,409,953 270 -50 525.2
CR21-131 474,000 5,409,818 5 -65 307.5
CR21-132 472,292 5,409,489 225 -50 422.0
CR21-133 473,910 5,409,793 355 -60 372.0
CR21-134A 473,804 5,409,799 5 -60 261.0
CR21-135 472,459 5,409,432 225 -50 497.0
CR21-136 473,617 5,409,780 355 -55 289.5
CR21-137 472,468 5,409,293 225 -55 407.0
CR21-138 473,359 5,409,778 360 -60 288.5
CR21-139 472,128 5,409,631 235 -55 419.0
CR21-141 472,115 5,409,616 60 -55 540.0
CR21-143 473,502 5,410,014 180 -50 450.6
CR21-144 472,054 5,409,463 60 -65 309.0
CR21-145 472,051 5,409,462 235 -55 585.5
CR21-147 473,972 5,409,987 185 -50 285.9
CR21-148 472,087 5,409,312 50 -55 456.0
CR21-149 473,854 5,409,880 178 -87 441.5
CR21-152 472,419 5,409,658 235 -55 471.6
CR21-153 473,763 5,409,807 360 -86 584.0
CR21-155 472,834 5,408,829 35 -62 533.0
CR21-156 473,670 5,409,809 0 -86 573.8
CR21-157 472,291 5,409,057 45 -55 503.5
CR21-159 473,002 5,408,960 215 -55 335.8
CR21-160 474,397 5,409,939 180 -70 518.3
CR21-162 473,002 5,408,961 215 -75 370.5
CR21-165 473,801 5,409,899 180 -85.5 518.8
CR21-165A 473,801 5,409,897 185 -84 690.0
CR22-198 473,559 5,408,735 205 -75 1,009.0
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Corporate Update
The Company also announced today that it has issued stock options and RSUs to executives, employees and directors
under its equity incentive plans. A total of 1,040,000 stock options were issued at an exercise price of $3.14 per share
vesting over a three-year period and 925,362 RSUs were issued vesting over a one-year period. The options expire five
years from the date of grant.
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.
Assays, Quality Assurance/Quality Control and Drilling and Assay
Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by NI 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. A set of Samples are transported in secured bags directly from the Canada Nickel core
shack to Actlabs Timmins, the other set of samples are securely shipped to SGS Lakefield. Both 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 17 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, 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 Company Inc.
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 elect ric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple
jurisdictions to trademark the terms NetZero Nickel TM, NetZero Cobalt TM, NetZero Iron TM 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, Chair and 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, drill results relating to the
Crawford Nickel Sulphide Project, the potential of the Crawford Nickel Sulphide Project, timing of economic studies
and mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration
and development results, and corpora te and technical objectives. Forward -looking information is necessarily based
upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and f uture events to differ materially from those