Canada Nickel Provides Update on Regional Exploration Program
1
Canada Nickel Provides Update on Regional Exploration Program
Highlights
• Successful infill drilling at Reid continues including a total of 643 metres of 0.26% nickel in
REI24-43; initial resource expected before end of 2024
• First assays from 2024 drilling at Mann West yield excellent results including 330 metres of
0.26% nickel in MAN24-58 including a total of 24.5 metres of 0.35% nickel; initial resource
estimate expected by Q1 2025
• Multiple gold intervals in Mann North drilling including 4.5 metres of 2.36 g/t gold within 45
metres of 0.45 g/t gold at MAN24-67
• Over 100,000 metres successfully drilled on regional properties to date in 2024
TORONTO, October 31, 2024 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company")
(TSXV: CNC) (OTCQX: CNIKF) is pleased to announce results from its ongoing exploration programs at
Reid, Mann and Reaume as several regional properties are being advanced to an initial resource stage.
The Company’s 2024 regional exploration program remains on-track with over 100,000 metres of drilling
completed on 14 properties, all located within 100 kilometres of Timmins, Ontario.
CEO Mark Selby said, “We continue to demonstrate the potential of the Timmins Nickel District with
today’s drilling results from five separate properties. The results today highlight the shallow, well-
mineralized large-scale potential of Mann West. Infill drilling at Reid continues to deliver long well-
mineralized intervals and we are on-track for an initial resource at Reid before year end. Mann Central
has yielded multiple intervals of well-mineralized peridotite across a 1.9 kilometre strike length.”
Mr. Selby continued, “We typically encounter platinum and palladium precious metals in the Timmins
Nickel district, but at our Mann North property, we intersected multiple gold intervals such as 45 metres
of 0.45 g/t including 4.5 metres of 2.36 g/t gold.”
Reid
The Reid property is located just 16 kilometres southwest of Crawford and contains a geophysical target
of 3.9 square kilometres which is nearly 2.4 times larger than Crawford.
Canada Nickel has completed 26,061 metres from 41 holes drilled during its 2024 drill program at Reid.
The drill campaigns of 2023 and 2024 have delineated a mineralized ultramafic body with a strike length
of 2.2 kilometres and width up to 1.0 kilometres and up to a depth of 650 metres within the central core
2
of the target geophysical footprint, with a total of 32,893 metres in 57 drillholes. The anomaly remains
open to the north, south and at depth (see Figure 1).
Assays are presented on this release for seven holes, with the results for seven more holes pending. All
holes drilled intersected long mineralized intervals comprised of mainly dunite and minor peridotite.
REI24-46 was drilled near the east end of the anomaly and intersected targeted higher grade nickel
mineralization, confirming the continuity on strike of at least one higher grade horizon that is oriented
NW-SE.
The Company remains on track to produce an initial resource at Reid, expected before year end 2024.
Table 1 – Drilling highlights Reid program
Hole ID From (m) To (m) Length (m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
REI24-41 40.5 116.0 75.5 0.24 0.011 0.003 0.005 0.826 5.484 0.067
and 216.0 706.0 490.0 0.19 0.014 0.012 0.012 0.588 7.506 0.047
REI24-43 27.0 469.2 442.2 0.26 0.012 0.003 0.005 0.817 5.518 0.044
and 494.7 696.0 201.3 0.25 0.012 0.009 0.006 0.936 5.797 0.055
REI24-45 44.6 191.6 147.0 0.19 0.013 0.003 0.003 0.468 6.828 0.018
and 216.0 382.1 166.1 0.22 0.012 0.006 0.004 0.462 5.675 0.032
and 394.0 585.4 191.4 0.25 0.012 0.019 0.011 0.618 5.635 0.047
REI24-46 38.0 702.0 664.0 0.23 0.013 0.022 0.013 0.616 6.967 0.098
including 256.5 264.0 7.5 0.30 0.015 0.073 0.050 0.404 7.586 0.156
including 414.0 447.0 33.0 0.30 0.012 0.013 0.005 0.679 7.730 0.128
Including 586.5 595.5 9.0 0.35 0.018 0.004 0.003 0.755 6.067 0.112
REI24-47 48.3 303.0 254.7 0.26 0.012 0.003 0.003 0.798 5.581 0.027
and 335.5 450.8 115.3 0.24 0.011 0.003 0.003 0.781 5.880 0.034
and 477.0 699.4 222.4 0.19 0.013 0.011 0.015 0.568 7.565 0.033
REI24-48 56.8 126.4 69.6 0.22 0.011 0.023 0.008 0.598 6.982 0.042
and 210.0 702.0 492.0 0.21 0.013 0.003 0.003 0.632 6.431 0.031
REI24-50 51.0 144.0 93.0 0.25 0.012 0.003 0.003 0.877 5.558 0.048
and 161.0 314.0 153.0 0.24 0.012 0.005 0.003 0.921 5.425 0.035
and 327.3 532.2 204.9 0.27 0.011 0.004 0.003 0.928 5.492 0.058
including 354.0 381.0 27.0 0.30 0.011 0.005 0.005 0.917 5.037 0.072
REI24-52 36.3 750.0 713.7 0.24 0.013 0.007 0.006 0.64 6.03 0.053
including 309.0 321.0 12.0 0.48 0.019 0.058 0.032 0.60 6.68 0.121
and 415.5 489.0 73.5 0.34 0.013 0.022 0.012 0.57 6.01 0.103
*True width undetermined. All lengths are drillhole lengths.
3
Figure 1 – Reid – CNC Drillholes Over Total Magnetic Intensity.
Mann Property
The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane. The
Company has completed a drill program in three of the four identified areas within the property, Mann
North, Mann West (together formerly Mann Northwest), and Central. (Figure 2). Exploration at Mann
South is currently underway. Canada Nickel currently owns 80% of the Mann Property after successfully
completing an earlier earn-in agreement with Noble Mineral Exploration. This property is part of the
creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with
Noble owning the other 20%.
4
Figure 2 – Mann Property
5
Mann West
Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square
kilometres). The drill program has focused on the southern half of the target with drilling completed over
a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections
of well -serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide
mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 40 holes
to date at Mann West (Figure 3), 31 of which were drilled during the 2024 program. With this drilling, the
Company has completed the first phase of exploration that is required for an initial resource estimate
expected by Q1 2025. Assays f rom nine holes are presented in this release, with the remaining holes at
Mann West still pending.
Table 2 – Mann West drilling highlights.
Hole ID From
(m) To (m) Length
(m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
MANN WEST
MAN24-33 11.2 396.0 384.8 0.24 0.011 0.009 0.008 0.35 6.48 0.028
including 174.0 183.0 9.0 0.30 0.014 0.018 0.011 0.18 6.34 0.100
MAN24-37 8.7 180.0 171.3 0.26 0.011 0.005 0.006 0.15 6.04 0.037
and 236.4 402.0 165.6 0.26 0.012 0.008 0.007 0.24 6.26 0.071
including 267.0 273.0 6.0 0.37 0.013 0.004 0.005 0.30 7.73 0.100
and 361.5 369.0 7.5 0.38 0.013 0.078 0.043 0.18 6.35 0.162
MAN24-45 6.2 402.0 395.8 0.24 0.013 0.016 0.010 0.39 6.60 0.235
including 136.5 144.0 7.5 0.30 0.014 0.044 0.015 0.75 6.99 0.086
MAN24-49 5.4 198.2 192.8 0.19 0.013 0.029 0.017 0.41 7.44 0.081
and 221.6 402.0 180.4 0.21 0.011 0.003 0.006 0.42 6.69 0.033
MAN24-54 49.5 192.8 143.3 0.26 0.011 0.003 0.003 0.13 5.80 0.045
and 216.5 402.0 185.5 0.27 0.012 0.012 0.007 0.28 6.22 0.029
including 268.5 277.5 9.0 0.48 0.019 0.003 0.003 0.62 7.86 0.015
MAN24-58 21.0 351.0 330.0 0.26 0.013 0.015 0.007 0.24 6.51 0.076
including 193.5 204.5 11.0 0.35 0.015 0.023 0.009 0.44 6.86 0.110
and 307.5 321.0 13.5 0.36 0.016 0.040 0.018 0.19 7.17 0.130
MAN24-62 8.6 501.0 492.4 0.18 0.014 0.041 0.026 0.31 7.88 0.047
MAN24-69 7.2 229.5 222.3 0.19 0.013 0.022 0.015 0.38 7.35 0.054
and 264.0 491.0 227.0 0.19 0.013 0.004 0.005 0.41 7.35 0.023
MAN24-71 23.5 260.5 237.0 0.27 0.012 0.011 0.009 0.25 6.29 0.082
including 63.0 108.0 45.0 0.37 0.013 0.036 0.018 0.15 5.77 0.196
and 302.2 501.0 198.8 0.17 0.012 0.014 0.032 0.36 7.56 0.027
*True width undetermined. All lengths are drillhole lengths.
6
Figure 3 – Mann West
7
Mann Central
The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long
and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed
during the spring/summer of 2024 and now totals 32 drillholes and 11,853 metres. Mineralization is more
consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square
kilometres). This release provides an update for 13 drillholes (Table 3), all of which intersected varying
degrees of mineralized peridotite with minor pyroxenite dykes.
Mafic volcanics with abundant sulphide mineralization in the north contact were intersected in eight holes
including MAN24-32 which yielded 3.3 metres of 1.03% nickel, 0.31% cobalt, and 0.57 % copper. Assays
are still pending for 10 drillholes and the results from nine drillholes were previously released (see press
release September 10, 2024).
Table 3 – Mann Central drilling highlights.
Hole ID From
(m) To (m) Length
(m)* Ni % Co % Pd g/t Pt g/t Cr % Fe % S %
MAN24-19 3.0 304.0 301.0 0.18 0.012 0.008 0.006 0.42 7.36 0.037
and 384.0 396.8 12.8 0.18 0.010 0.003 0.008 0.33 6.29 0.083
MAN24-22 9.0 552.0 543.0 0.24 0.012 0.005 0.006 0.17 5.90 0.057
Including 195.0 207.0 12.0 0.29 0.013 0.022 0.008 0.14 5.66 0.082
MAN24-26 12.0 55.5 43.0 0.25 0.011 0.003 0.008 0.18 5.85 0.101
and 100.5 399.0 298.5 0.23 0.011 0.004 0.003 0.16 6.22 0.052
MAN24-32 90.0 402.0 312.0 0.21 0.015 0.004 0.004 0.27 6.42 0.121
including 96.0 99.3 3.3 1.03 0.308 0.026 0.013 0.14 19.78 4.840
MAN24-34 75.0 259.0 184.0 0.22 0.011 0.008 0.008 0.31 6.79 0.044
and 297.0 402.0 105.0 0.24 0.011 0.007 0.008 0.22 5.97 0.080
MAN24-35 25.2 144.3 119.1 0.22 0.012 0.003 0.004 0.24 6.74 0.051
and 161.0 387.0 226.0 0.18 0.013 0.005 0.006 0.40 7.39 0.030
MAN24-39 97.5 171.0 73.5 0.19 0.011 0.007 0.007 0.45 7.28 0.049
MAN24-40 103.3 153.0 49.7 0.24 0.012 0.004 0.004 0.26 6.10 0.071
and 141.0 396.0 255.0 0.21 0.012 0.005 0.005 0.41 7.05 0.031
MAN24-43 76.7 182.4 105.7 0.22 0.012 0.005 0.006 0.22 6.37 0.114
and 205.4 402.0 196.6 0.23 0.012 0.003 0.005 0.38 6.56 0.033
MAN24-44 43.0 186.7 143.7 0.21 0.011 0.004 0.004 0.30 6.65 0.029
and 195.0 402.0 207.0 0.19 0.013 0.005 0.007 0.415 7.176 0.030
MAN24-52 11.4 46.7 35.3 0.31 0.037 0.003 0.006 0.169 5.794 0.176
and 73.0 400.0 327.0 0.20 0.013 0.004 0.005 0.390 6.779 0.028
MAN24-56B 45.0 402.0 357.0 0.20 0.013 0.003 0.005 0.411 7.126 0.022
MAN24-60 31.9 241.2 209.3 0.20 0.013 0.007 0.007 0.369 6.920 0.060
and 277.5 310.9 33.4 0.26 0.015 0.003 0.004 0.055 8.981 0.057
*True width undetermined. All lengths are drillhole lengths.
8
Figure 4 – Mann Central
Mann North
The Mann North target is approximately 1.5 kilometres long by 600 metres wide (0.9 square kilometres)
(Figure 4). Drilling was completed during the summer of 2024 and consisted of a preliminary exploratory
phase of 16 drillholes totaling 6,315 metres. The majority of these holes intersected long sections of
peridotite, with minor dunite (Table 4) with nickel grades in the peridotite consistent with Crawford. The
peridotites, however, ha ve anomalous values of platinum ( Pt) and palladium ( Pd) over significant
intervals, as seen on Table 5. Hole MAN24-31, for example, intersected 12.7 metres of 0.58 g/t Pt+Pd and
MAN24-50 intersected 16.7 metres of 0.50 g/t Pt+Pd.
In addition to the anomalous Pt and Pd, the ultramafic units at Mann also have higher values for gold,
especially near certain contacts. The intersections can be high grade and narrow such as in MAN23-12
which intersected 4.93 g/t gold over 1.5 metres or can be thicker and lower grade such as in MAN24 -67
which intersected 0.45 g/t gold over 45.0 metres. Nine of 15 of the drillholes at Mann North assayed to
date include gold intersections of 0.4 g/t gold or higher. Significant intersections are summarized in Table
6.
Assays are pending for three remaining holes.