Canada Nickel Strikes Major Sulphide Discovery at Bannockburn, Reveals 3.9m Massive Zone | CNIKF Stock News

Canada Nickel has intersected significant massive sulphide at its Bannockburn Property, located 65 kilometers south of Timmins, Ontario. Drillhole BAN24-18 revealed a 3.9-metre section of massive sulphide within a 12.7-metre mineralization zone. The company is conducting an infill drill program on the B-Zone, with an initial resource expected by Q2 2025. The discovery follows historical drilling that yielded intervals including 2.8 metres of 2.9% nickel. Additional targets within the B-Zone were identified during a semi-airborne EM survey showing two higher conductivity areas. Assay results are expected next week.

Canada Nickel ha intercettato un'importante massa di solfuri massivi presso il suo Proprietà Bannockburn, situata a 65 chilometri a sud di Timmins, Ontario. Il pozzo di perforazione BAN24-18 ha rivelato una sezione di 3,9 metri di solfuri massivi all'interno di una zona di mineralizzazione di 12,7 metri. L'azienda sta conducendo un programma di perforazione di riempimento nella Zona B, con una risorsa iniziale prevista entro il secondo trimestre del 2025. La scoperta segue perforazioni storiche che hanno fornito intervalli comprendenti 2,8 metri di 2,9% di nichel. Ulteriori obiettivi all'interno della Zona B sono stati identificati durante un'indagine EM semi-aeronautica che ha mostrato due aree di maggiore conducibilità. I risultati delle analisi sono attesi per la prossima settimana.

Canada Nickel ha intersectado significativos sulfuros masivos en su Propiedad Bannockburn, ubicada a 65 kilómetros al sur de Timmins, Ontario. El pozo de perforación BAN24-18 reveló una sección de 3,9 metros de sulfuros masivos dentro de una zona de mineralización de 12,7 metros. La empresa está llevando a cabo un programa de perforación de relleno en la Zona B, con un recurso inicial que se espera para el segundo trimestre de 2025. El descubrimiento sigue a perforaciones históricas que produjeron intervalos que incluyen 2,8 metros de 2,9% de níquel. Se identificaron objetivos adicionales dentro de la Zona B durante una encuesta EM semi-aérea que mostró dos áreas de mayor conductividad. Se esperan resultados de análisis la próxima semana.

캐나다 니켈은 온타리오주 팀민스 자그마게서 남쪽으로 65킬로미터 떨어진 바녹번 소유지에서 중요한 대량 황화물 광맥을 발견했습니다. 시추공 BAN24-18은 3.9미터의 대량 황화물 구간을 12.7미터의 광물화 구역 내에서 드러냈습니다. 회사는 B존에서 충전 시추 프로그램을 진행 중이며, 초기 자원은 2025년 2분기까지 예상됩니다. 이번 발견은 2.8미터의 2.9% 니켈을 포함하는 역사적인 시추 결과에 이어진 것입니다. 공중 EM 조사를 통해 두 개의 고저항 신규 타겟이 B존 내에서 확인되었습니다. 분석 결과는 다음 주에 발표될 예정입니다.

Canada Nickel a interagi des sulfures massifs significatifs sur sa Propriété Bannockburn, située à 65 kilomètres au sud de Timmins, Ontario. Le forage BAN24-18 a révélé une section de 3,9 mètres de sulfures massifs au sein d'une zone de minéralisation de 12,7 mètres. L'entreprise effectue un programme de forage de comblement dans la Zone B, avec une ressource initiale prévue d'ici le deuxième trimestre 2025. La découverte fait suite à des forages historiques ayant donné des intervalles incluant 2,8 mètres à 2,9% de nickel. D'autres cibles dans la Zone B ont été identifiées lors d'une enquête EM semi-aérienne montrant deux zones de conductivité plus élevée. Les résultats des analyses sont attendus la semaine prochaine.

Canada Nickel hat erhebliche massive Sulfide in seinem Bannockburn-Grundstück, das 65 Kilometer südlich von Timmins, Ontario, liegt, durchbohrt. Die Bohrung BAN24-18 hat einen 3,9 Meter langen Abschnitt von massiven Sulfiden innerhalb einer 12,7 Meter langen Mineralisierungszone aufgedeckt. Das Unternehmen führt ein Auffüllbohrprogramm in der B-Zone durch, wobei mit einer ersten Ressource bis zum zweiten Quartal 2025 gerechnet wird. Die Entdeckung folgt auf historische Bohrungen, die Intervalle mit 2,8 Metern bei 2,9% Nickel ergaben. Weitere Ziele innerhalb der B-Zone wurden während einer halb-luftgetragenen EM-Umfrage identifiziert, die zwei Bereiche mit höherer Leitfähigkeit aufzeigte. Die Analyseergebnisse werden nächste Woche erwartet.

Highlights

TORONTO, Nov. 5, 2024 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce it has intersected a significant interval of massive sulphide on its Bannockburn Property located 65 kilometres south of Timmins, Ontario.

CEO Mark Selby said, "We have assembled a very large land package in the Timmins Nickel District which has yielded millions of tonnes of contained nickel resources. While our focus has been primarily on large scale, bulk tonnage deposits, today's results clearly highlight our belief in the potential of these properties with their large nickel endowment to also host high grade nickel deposits. We look forward to seeing the assays from this hole next week, the follow-up geophysics to understand this Bannockburn target in more detail, and upcoming drilling of other geophysical targets around Bannockburn."

Bannockburn Property

The Bannockburn Property is located 65 kilometres south of Timmins and approximately 20 kilometres west of Matachewan, Ontario and is located in the vicinity of the Company's Midlothian and Sothman properties. The Company has been primarily focused on the large tonnage, low grade nickel zone (the B-Zone) and has identified a number of new prospective targets which are being tested for higher-grade material. Historically, higher grade intervals have been drilled at the C-Zone and F-Zone at Bannockburn (Figure 1) and at the nearby Sothman project.

Canada Nickel is conducting an infill drill program on the historically named B-Zone, a bulk tonnage target composed primarily of strongly serpentinized and well mineralized ultramafics. The B-Zone initial resource is expected to be completed by Q2 2025.

Bannockburn F-Zone

Massive sulphides were identified in drillhole BAN24-18 which collared into mafic volcanics and intersected mineralized peridotite at 238 metres downhole. Mineralization within the peridotite was weak at the contact and increased downhole into moderate to strong disseminated nickel sulphide for 8.7 metres and ending with a 3.9 metre section of massive sulphide (see Figures 2a,b,c) before returning to mafic volcanics. An XRF analyzer was used to confirm the presence of nickel in the mineralized intervals. Samples have been submitted for assays and are expected to be available early next week.

The Company was testing the previously identified F-Zone which had been historically drilled by Outokumpu Mining Oy and Mustang Minerals Corp. in the late 1990s and early 2000s and yielded narrow intervals of net-textured and massive sulphide mineralization including 2.8 metres of 2.9% nickel approximately 50 metres east of the current interval.

Canada Nickel is also following up with similar targets inside the B-Zone that were highlighted during a semi-airborne EM survey (drone and ground loop) that was flown during the summer of 2024, performed by Rosor Corp. The survey shows two other higher conductivity/lower resistivity targets within the B-Zone.

Figure 1 – Bannockburn B-Zone and F-Zone, ongoing drill program.

Figure 2 – BAN24-18, core pictures a (256.1-267 metres) ,b (260.3-263.4 metres),c (select intervals 257.2-262.7 metres )

a) Peridotite to Massive sulphide, to volcanics; b) Net-texture sulphides (Po (Pyrrhotite)>Pn (Pentlandite)>>Cpy (Chalcopyrite); c) Disseminated sulphides on peridotite, into massive sulphides Po>Pn;

Table 1: Logged Intervals BAN24-18

From (m)

To (m)

Length (m)

Lithology

% Sulphide*

238.5

251.4

12.9

Carbonated Peridotite. Disseminated Ni Min

1.0

251.4

260.1

8.7

Strongly Serpentinized peridotite. Strong diss Ni min

260.1

260.2

0.1

Net-textured sulphide peridotite.

260.2

264.1

3.9

Massive sulphide

90-100

*Visual estimation. For reference, Crawford % sulphide typically between 0.1-1%

Table 2: Drillhole Orientation

Hole ID

Easting (mE)

Northing (mN)

Azimuth (⁰)

Dip (⁰)

Length (m)

B-Zone

BAN24-07

506617

5314086

240

-55

402.0

BAN24-08

506677

5313701

240

-55

381.0

BAN24-09

506475

5314390

240

-55

351.0

BAN24-10

505420

5315110

-50

402.0

BAN24-11

506342

5314134

-55

363.5

BAN24-12

507225

5313385

235

-55

351.0

BAN24-13A

507225

5313385

-75

173.0

BAN24-14

506931

5313715

235

-55

402

BAN24-15

506931

5313715

-50

426

BAN24-16

507233

5313389

-75

181.5

F-Zone

BAN24-18

507393

5311706

-80

420

Statement Regarding TSX Venture

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.

Quality Assurance and Control, Drilling and Assaying

Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

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 – Standards of Disclosure for Mineral Projects, 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.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel 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 NickelTM, NetZero CobaltTM, NetZero IronTM 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 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. For more information, please visit www.canadanickel.com.

For further information, please contact:

Mark SelbyCEOPhone: 647-256-1954Email: [email protected]

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 and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, corporate and technical objectives, and the completion of assays, follow-up geophysics and further drilling. Forward-looking information is necessarily based upon several 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, risks of the mining industry, delays in obtaining governmental approvals, 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 because of new information, future events or otherwise, except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/canada-nickel-intersects-massive-sulphide-at-bannockburn-project-302296632.html

SOURCE Canada Nickel Company Inc.