Canadian North Resources Inc. confirms high-grade nickel-copper massive sulfides and high-grade palladium-platinum low-sulfide mineralization zones at Ferguson Lake Project 8.25 meter with 0.86% nickel, 1.27% copper, 1.57g/t palladium and 0.20g/t platinum in drill hole FL04-
Canadian North Resources Inc. confirms high-grade nickel-copper massive sulfides
and high-grade palladium-platinum low-sulfide mineralization zones at Ferguson Lake Project
8.25 meter with 0.86% nickel, 1.27% copper, 1.57g/t palladium and 0.20g/t platinum in drill hole FL04-
188;
6.80 meter with 13.12g/t palladium and 8.04g/t platinum in drill hole FL07-363;
39.0 meter with 2.22g/t palladium and 0.39g/t platinum in drill hole FL07-361
Toronto, May 16, 2022 – Canadian North Resources Inc. (“the Company”, TSXV: CNRI) is pleased to report
the results for the re-sampling and re-assaying of historic drill cores and assaying of core samples newly
collected from the Ferguson Lake property (“Ferguson Lake Project”) that contain s base metals ( nickel,
copper, and cobalt) and platinum-group metals (“PGM”, mainly palladium and platinum). The re-sampling
and re-assaying program are part of the on-going resource evaluation and estimation for the Ferguson
Lake Project (ref. the News Release on April 11).
A total of 790 samples were collected from 29 historic holes that tested the massive sulfide s and low-
sulfide high -PGM mineralization bodies over the West and East zones along the 15 -km long main
mineralized horizon on the property. Of those samples, 527 were obtained from the half cores remaining
of the previously sampled intervals of the historic drill holes. The new assay results for these samples
reasonably agree with the historic assay results in the database. In addition, 263 samples were collected
from intervals of the historic drillholes that have visible sulfides but have never been sampled. The assay
results for some of these samples also indicate the presence of significant base metal and PGM
mineralization over significant widths (see holes FL07-379 and FL04-188 in the Chart below).
“The re-sampling program has confirmed the presence of high-grade copper-nickel massive sulfides and
wide intersects of low-sulfide high-PGM mineralization,” said Dr. Kaihui Yang, the Presiden t and CEO of
the Company. “The re-assay results of the newly re-collected core samples support the verification of the
drillhole database of the Ferguson Lake Project for the resource estimation program. This evaluation
generates confidence in the potential high -grade and large tonnage of nickel, copper, cobalt, palladium
and platinum at the Ferguson Lake Project.”
The new assay results of drill cores re-sampled from selected historic holes are summarized below:
Chart 1: high-grade copper-nickel massive sulfides intersections.
Drill holes From
(m)
To
(m)
Length
(m)
Platinum
(g/t)
Palladium
(g/t)
Cobalt
(%)
Copper
(%)
Nickel
(%)
FL04-188 153.55 161.80 8.25 0.20 1.57 0.11 1.27 0.86
FL07-360 95.33 96.16 0.83 0.13 2.72 0.28 0.46 0.85
FL07-361 135.50 143.25 7.75 0.26 2.32 0.11 1.03 0.74
Including 139.30 140.90 1.60 0.48 3.19 0.13 0.5 1.12
And 182.00 183.50 1.50 0.31 6.30 0.17 0.14 0.9
FL07-363 71.00 74.00 3.00 0.25 0.74 0.03 0.94 0.26
FL07-373 167.00 176.00 9.00 0.38 2.52 0.07 0.43 0.6
FL07-379 158.00 170.67 12.67 0.31 1.35 0.05 0.27 0.36
Including 166.90 170.67 3.77 0.15 3.07 0.13 0.41 1.05
And 185.36 186.44 1.08 0.19 4.95 0.14 0.3 1.02
Chart 2: high grade palladium and platinum low-sulfide intersections:
Drill Holes From
(m)
To
(m)
Length
(m)
Platinum
(g/t)
Palladium
(g/t)
FL04-188 232.00 233.00 1.00 1.13 5.96
FL07-360 95.33 121.20 25.87 0.10 0.34
And 161.00 181.20 20.20 0.33 0.76
FL07-361 158.00 197.00 39.00 0.39 2.22
including 177.50 179.00 1.50 2.79 28.90
including 188.00 189.50 1.50 0.85 10.90
FL07-363 140.00 146.80 6.80 8.04 13.12
including 142.95 144.30 1.35 33.80 30.00
including 146.00 146.80 0.80 8.49 58.10
And 159.50 162.20 2.70 1.18 13.28
including 161.70 162.20 0.50 3.64 52.90
FL07-364 134.20 171.90 37.70 0.44 1.40
including 148.60 150.05 1.45 1.15 6.26
including 167.49 168.61 1.12 2.77 21.70
FL07-365 147.50 200.74 53.24 0.27 0.55
including 169.08 170.40 1.32 0.75 4.13
And 260.90 283.38 22.48 0.19 0.80
including 280.61 282.00 1.39 0.69 3.81
FL07-366 176.90 186.90 10.00 0.56 0.77
And 205.63 212.98 7.35 0.32 1.38
FL07-367 156.00 160.50 4.50 0.97 3.87
FL07-368 242.00 250.80 8.80 0.25 1.86
Including 248.00 248.50 0.50 0.36 17.85
FL07-370 165.50 168.54 3.04 1.19 2.17
And 176.00 212.00 36.00 0.33 1.46
including 180.50 182.00 1.50 1.06 6.05
including 186.50 188.00 1.50 1.00 10.00
FL07-371 177.74 204.83 27.09 0.28 0.51
FL07-378 173.61 183.75 10.14 0.22 1.53
including 182.28 183.75 1.47 0.73 7.55
Quality Assurance and Quality Control (QA/QC):
Canadian North Resources Inc. has implemented a quality control program for its Ferguson Lake Project
to ensure best practice in the sampling and analysis of the drill core s, which includes the insertion of
blanks, duplicates, and certified standards into the sample stream. NQ sized drill core is saw cut with half
of the remaining drill core sampled at i ntervals based on geological criteria including previous historic
results, lithology, visual mineralization, and alteration. The remaining part of the core is stored on-site on
the property.
Drill core samples are submitted to the ALS Geochemistry Yellowknife, Northwest Territories facility for
sample preparation and forwarding to the ALS Geochemistry facility in North Vancouver, British Columbia
for analyses. PGE and Gold analyses are obtained via industry standard fire assay with ICP-AES finish for
Au, Pt and Pd and ICP-MS finish for Rh using 30g nominal sample weights. For samples returning greater
than 10 g/t follow-up fire assay analysis with a gravimetric finish is completed. Samples are also analysed
for 33 trace and major elements by ICP-AES following a four-acid digestion. ALS Global quality systems conform
to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.
The sampling and QA/QC program w ere undertaken by Company personnel under the direction of
Qualified Person Trevor Boyd, P.Geo. A secure chain of custody is maintained in storing and transporting
of all samples.
Qualified Person:
The technical contents of this news release have been reviewed by Dr. Trevor Boyd, P.Geo., 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 please visit the website at www.cnresources.com or 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.
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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 historica l 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 operations, performance, business
prospects and opportunities, are based on certain factors and assumptions and involve known and
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materially different from future results, performance, or achieve ments expressed or implied by such
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These factors should be considered carefully, and readers should not place undue reliance on the
Company’s forward -looking statements. The Company believes that the expectations reflected in t he
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, although 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
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unanticipated events, except as expressly required by law.