Canada Nickel Announces Major Discovery at Reid
Canada Nickel Co. has announced an exploration update for its Reid Property located within 16 km of the Crawford Nickel discovery that has now been successfully targeted by all 16 drillholes.
Mark Selby, chair and chief executive officer of Canada Nickel, said “Today’s results confirm Reid as a major discovery with a target footprint larger than our flagship Crawford discovery and a mineralized core that is 50 percent wider than our Crawford Main Zone.”
“Grades and mineralization are consistent with what the company has observed at its East Zone deposit. The success of this initial drilling, targeted solely with our team’s proprietary approach using provincial geophysical data, highlights the significant potential of our total regional land package with over 42 km2 of target geophysical footprint which is more than 20 times larger than our flagship Crawford project.”
The Reid Property is located just 16 km southwest of Crawford and 37 km northwest of Timmins and contains an ultramafic body with a target geophysical footprint of 3.9 km2 compared to the Crawford target footprint of 1.6 km2. Assay results from 16 holes continue to confirm nickel mineralization in serpentinized dunite and peridotite.
Canada Nickel is working to advance the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets. The company is also pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel is currently anchored by its 100 percent owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.