Canadian North Resources Inc. Announces $11 Million Exploration Plan for the Ferguson Lake Nickel, Copper, Cobalt, Palladium and Platinum Project Program to Focus on High-grade Nickel-Copper Massive Sulfide target and High-Grade Palladium-
Canadian North Resources Inc. Announces $11 Million Exploration Plan for the Ferguson Lake Nickel,
Copper, Cobalt, Palladium and Platinum Project
Program to Focus on High-grade Nickel-Copper Massive Sulfide target and High-Grade Palladium-
Platinum Low-Sulfide target
Toronto, April 25, 2022 – Canadian North Resources Inc. ( “the Company”, TSXV: CNRI) is pleased to
announce that it has budgeted $11 million for the exploration p lan at the Ferguson Lake nickel, copper,
cobalt, palladiu m and platinum project (“the Ferguson Lake Project” ), which will include a resource
estimation (ref. the news release on April 11, 2022), a 15,000-meter diamond drilling program (ref. the
news release on April 19, 2022), in-hole geophysical survey, surface geological mapping and geophysical
survey, and metallurgical testing.
The exploration plan is based on extensive review of the geology and historic drill results (refer to Chart 1
and Chart 2 below) of the Ferguson Lake Project by the Company. The mineralization includes mainly two
styles: the massive sulfides containing base metals (nickel, copper and cobalt) and platinum-group metals
(“PGM”, mainly palladium and platinum ), and low-sulfide material containing low base metals but high -
grade PGM. The massive sulfides vary from a meter to tens of meters thick (e.g., 45.9-meter core length
at 1.34% copper, 0.76% nickel, 1.99g/t palladium and 0.32g/t platinum, refer to Chart 2 below), which was
the target of historic exploration. The low -sulfide and high -grade PGM mineralization (up to 103g/t
palladium, 43.3g/t platinum, 2.58g/t rhodium, refer to Chart 1 below) was intersected extensively from
surface to a depth of over 1,200 meters and remains open laterally and down dip. The present exploration
plan focuses on the expansion of the massive sulfide s targets and the delineation of potential economic
resources in the high-grade PGM low-sulfide bodies.
Historic metallurgical tests were conducted on massive sulfide samples and only recovered copper, nickel
and cobalt, not palladium or platinum. The Company has conducted initial metallurgical tests for the
recoveries of base metals and PGM from massive sulfides, which indicated high recoveries of base metals
(87-99%) and PGM (90 -95%) (ref. NI43-101 Technical Report dated July 18, 2022, filed on Sedar.com or
www.cnresources.com). More metallurgical tests will be carried out for both massive sulfides and high -
grade PGM low-sulfide samples.
“The geology and mineralization of the Ferguson Lake Project may be comparable with the Norilsk mining
area of Russia, one of the world most productive area for nickel, copper, palladium and platinum .” said
Dr. Kaihui Yang , the President & CEO , “Our exploration plan is to expand the massive sulfide zones for
potential high-grade large-tonnage economic base metal and PGM resources and to explore the untapped
potential of the extensive low-sulfide and high-grade PGM mineralization at the Ferguson Lake Project.”
Some of the historic assay results from selec ted core intersections of high-grade PGM low-sulfide zone
and massive sulfides bodies include:
Chart 1: selected high-grade palladium and platinum low-sulfide intersections:
Hole ID From
(m)
To
(m)
Length
(m)*
Palladium
(g/t)
Platinum
(g/t)
Rhodium
(g/t)**
FL02-135
Including
141.44 151.64 10.2 3.48 2.32 NA
147.3 148.41 1.11 19.13 13.96 NA
FL03-157 214.0 229.5 15.5 3.82 3.10 NA
Including
Including
Including
215.66 225.2 9.54 5.71 4.70 NA
221.9 225.2 3.3 12.16 8.10 NA
222.47 223.35 0.88 23.85 7.20 NA
FL05-218 194.5 201.5 7.0 3.98 1.88 NA
FL04-195 219.5 222.5 3.0 12.69 1.48 NA
FL04-181
Including
And
Including
198 203 5.0 4.50 0.49 NA
201.4 203 1.6 11.72 0.58 NA
224 228.5 4.5 5.16 2.85 NA
224 225.5 1.5 12.61 8.22 NA
FL04-173 157.5 160.5 3.0 6.33 4.06 NA
FL04-167
including
152.25 156 3.75 1.66 4.34 NA
153.5 154.75 1.25 4.02 10.4 NA
FL04-165
Including
Including
And
Including
Including
215.9 220.82 4.92 9.09 2.33 NA
217.8 219.82 2.02 18.53 4.84 NA
217.8 218.8 1.00 32.23 8.54 NA
237.1 240.66 3.56 2.19 11.06 NA
237.1 238.75 1.66 1.58 23.73 NA
237.1 238 0.9 2.41 43.36 NA
FL02-109 123.43 123.64 0.21 56.79 5.99 NA
FL04-189 210.5 211.73 1.23 2.02 29.09 NA
FL02-101W5 963.55 963.71 0.16 42.58 5.62 0.77
FL02-101W1
Including
Including
962.83 963.51 0.66 1.45 0.83 0.34
963.10 963.24 0.14 5.37 2.39 1.11
963.40 963.51 0.11 1.68 2.02 0.71
FL01-101
Including
961.2 962.63 1.43 25.76 6.62 NA
962.28 962.63 0.35 103.00 28.71 NA
FL02-132 1099.82 1099.92 0.10 3.69 0.01 2.582
FL04-195 156.75 158 1.25 1.59 0.01 0.464
FL05-230 831 832.5 1.5 0.62 0.05 0.404
FL04-195 156.75 158 1.25 1.59 0.01 0.464
*The length was measured from the recovered drill core intersection, and the true widths of the
mineralization zone were not estimated. **NA- no assay results.
Chart 2: selected high-grade nickel and copper massive sulfide intersections:
Hole ID From
(m)
To
(m)
Length
(m)*
Copper
(%)
Nickel
(%)
Cobalt
(%)
Palladium
(g/t)
Platinum
(g/t)
FL00-41 187.34 258.66 71.31 0.66 0.38 0.05 0.90 0.15
FL00-66 342.72 364.10 21.38 0.64 0.62 0.073 1.55 0.29
FL01-72 480.50 513.27 32.77 1.01 0.50 0.06 1.30 0.18
FL01-74 370.30 434.75 64.45 0.96 0.53 0.064 1.40 0.24
FL01-84 671.23 717.18 45.95 1.34 0.76 0.069 1.99 0.32
FL05-237 7.50 109.17 101.67 1.30 0.74 0.08 1.96 0.39
FL06-350 385.18 420.04 34.86 0.93 0.50 0.057 1.32 0.26
FL06-261 390.35 427.53 37.18 1.22 0.65 0.079 1.61 0.26
FL06-264 413.82 454.84 41.02 1.01 0.56 0.061 1.49 0.32
463.18 499.72 36.54 0.85 0.59 0.07 1.51 0.23
FL06-271 480.76 501.17 20.41 1.05 0.37 0.04 0.82 0.14
FL06-283 376.55 403.11 26.56 1.04 0.56 0.073 1.44 0.27
413.21 438.06 24.85 1.38 0.78 0.093 2.05 0.28
FL06-323 366.1 389.33 23.23 1.23 0.57 0.06 1.55 0.23
395.56 427.25 31.69 1.34 0.55 0.06 1.40 0.17
FL06-327 407.29 435.76 28.47 1.40 0.66 0.072 1.75 0.32
443.40 467.63 24.23 1.21 0.49 0.057 1.43 0.37
FL06-337 454.65 500.70 46.05 1.43 0.61 0.071 1.51 0.24
*The length was measured from the recovered drill core intersection, and the true widths of the
mineralization zone were not estimated.
Qualified Person
The technical contents of this news release have been reviewed by Dr. Trevor Boyd, PGeo, a qualified
person as defined by Canadian National Instrument 43-101 standards.
About Canadian North Resources Inc.
Canadian North Resources Inc. is an exploration and development company focusing on the metals for
the clean-energy, electric vehicles, battery and high -tech industries. The company is advancing its 100%
owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project in Nunavut, Canada.
Further information of the Company can be found at www.cnresources.com .
Also, for further information contact:
Dr. Kaihui Yang, President and CEO
Phone: 905-696-8288 (Canada) 1-888-688-8809 (Toll-Free)
Email: [email protected]
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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such
as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and
statements related to matters which are not historical facts, are forward -looking information within the
meaning of applicable securities laws. Such forward -looking statements, which reflect management’s
expectations regarding the Company’s future growth, results of operatio ns, performance, business
prospects and opportunities, are based on certain factors and assumptions and involve known and
unknown risks and uncertainties which may cause the actual results, performance, or achievements to be
materially different from futur e results, performance, or achievements expressed or implied by such
forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the
Company’s forward -looking statements. The Company believes th at the expectations reflected in the
forward-looking statements contained in this news release and the documents incorporated by reference
herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In
addition, a lthough the Company 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 not to be as anticipated, estimated or intended.
The Company undertakes no obligation to release publicly any future revisions to forward -looking
statements to reflect events or circumstances after the date of this news or to reflect the occurrence of
unanticipated events, except as expressly required by law.