CNC:CC - InvestorNewsBreaks - Canada Nickel Company Inc. (TSX.V: CNC) (OTCQX: CNIKF) Releases Update Report on Reid Drill Results
Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF), a company that is advancing the next generation of nickel-sulphide projects, released an update on its 2024 exploration program at its Reid property. The update included assay results from four new holes, which included the best drill result to date from the property. According to the report, six drill rigs are currently operating across Canada Nickel’s exploration portfolio, which has a target delivery of seven new resources by the second quarter of 2025 and six further discoveries, unlocking the regional exploration potential of the Timmins Nickel District. Highlights from the update show the new best interval to date at Reid is 687 meters of 0.27% nickel including 36 meters of 0.41% nickel and 7.5 meters of 0.56% nickel in REI24-18; the update also indicated that all four holes intersected core lengths of at least 676 meters with average grades of 0.24% to 0.27% nickel. In addition, three of the four holes disclosed in the release intersected higher-grade mineralization within the main ultramafic body. The Reid property is located 16 kilometers southwest of the Canada Nickel’s Crawford Nickel Sulphide project and contains a geophysical target of 3.9 square kilometers, which is nearly 2.4 times larger than Crawford. “Reid continues to deliver excellent results with yet another best drill interval to date,” said Canada Nickel CEO Mark Selby in the press release. “We are encouraged by these four additional drill results with long drill intervals and three of the four holes reporting higher grade intervals. These results continue to highlight the very large-scale potential of this property. With six drill rigs now operating, we expect a steady flow of drill results from across the company's exploration portfolio.”
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About Canada Nickel Company Inc.
Canada Nickel 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 has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and 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 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 about the company, visit www.CanadaNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to CNIKF are available in the company’s newsroom at https://ibn.fm/CNIKF
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