Canada Nickel Provides Update on the Crawford Nickel-Cobalt Sulphide Project
Canada Nickel Provides Update on the
Crawford Nickel-Cobalt Sulphide Project
TORONTO
,
Dec. 1, 2020
/CNW/ - Canada Nickel Company Inc. ("
Canada Nickel
" or "
The
Company
") (TSX-V:CNC) (OTCQB: CNIKF) is pleased to provide a project update on its Crawford
Nickel-Cobalt Project.
"
We continue to advance Crawford aggressively on multiple fronts towards completion of the
Preliminary Economic Analysis ("PEA") and unlocking its exploration potential. Our metallurgy
program continues to deliver results that are in line with or exceeding our expectations. While we
had expected to release the results of some locked cycle tests today, some lab changes that were
made in order to simplify executing this specific set of tests had an unintended impact and require
the tests to be re-run. Based on lab availability and timing, these results are expected to be
available by the end of December.
" said
Mark Selby
, Chair and CEO of Canada Nickel.
Exploration Update
A third drill rig has arrived at the Crawford Project site to begin exploration drilling on a fourth target
structure: the "North" anomaly. This anomaly possesses a similar coincident geophysics signature to
the Main Zone. It is approximately 1 kilometre long by 300 metres wide and is located adjacent to
Highway 655 approximately 3 kilometres north of the Main Zone. The other two drill rigs continue to
explore the recently announced West Zone discovery, extensions of the Higher Grade Core of the
Main Zone, infill and extensions to the East Zone, and extensions to the PGM Zone. Assay results
have slowed with the overall level of exploration activity in the
Timmins
region, but will be released
as they become available.
The Company will run three drill rigs through the winter to continue exploring the existing targets at
Crawford and begin drilling targets identified through the recently completed airborne geophysics
program. Two significant targets with coincident magnetic and gravity anomalies have already been
identified and additional targets are expected to be generated once the interpretation is completed
later this month. More specific details will be provided on these targets before year-end.
The Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific
Timmins
-
Cochrane
mining camp in
Ontario, Canada
, and is adjacent to well-established, major infrastructure associated
with over 100 years of regional mining activity.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to
deliver nickel and cobalt 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 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 and cobalt 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.
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.
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-Cobalt Sulphide Project, the potential of the
Crawford Nickel-Cobalt Sulphide Project, timing of economic studies and resource estimates,
strategic plans, including future exploration and development results, and corporate 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 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, competitive, political and social uncertainties, results of exploration programs, timing of
the updated resource estimate, risks of the mining industry, delays in obtaining governmental
approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that
such information will 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 as a result of new information, future
events or otherwise, except as required by law.
SOURCE
Canada Nickel Company Inc.
View original content:
http://www.newswire.ca/en/releases/archive/December2020/01/c0986.html
%SEDAR: 00048733E
For further information:
Mark Selby, Chair and CEO, Phone: 647-256-1954, Email:
CO: Canada Nickel Company Inc.
CNW 12:02e 01-DEC-20