Canada Nickel makes new discovery at Newmarket, best interval to date at Reid
TSX-V-listed Canada Nickel Company has announced positive initial assay results from its 2024 exploration programme, including the first two holes at the Newmarket property and results from the first hole from its Reid property.
Six holes have been completed at Reid and 17 holes have been completed at Crawford, as part of a programme to delineate an initial palladium-platinum resource for which assays are pending.
"Our 2024 exploration programme has started very strongly with the best drill interval to date at Reid and a new discovery at Newmarket,” said Canada Nickel CEO Mark Selby.
The company reported its best interval to date at the first hole at Reid - 675 m of 0.25% nickel including 142 m of 0.32% nickel and 24 m of 0.40% nickel in REI24-17.
“The long drill interval of higher-grade material at Reid is very encouraging and the first section delineating an over 800 m width of target ultramafic sequence - nearly two times thicker than Crawford - highlights the very large-scale potential of this property,” said Selby.
"The initial Newmarket results are also very encouraging, despite the fact we were only able to drill at the least attractive geophysical target due to seasonal logistical constraints. This initial drilling occurred on the edge of the eastern end of the 7-km-long Newmarket target, which is contiguous with the Mann Southeast target and is part of an overall geophysical target more than three times larger than Crawford," he continued.
The first two holes at Newmarket intersected target mineralisation, including 373 m of 0.24% nickel in NEW24-01.
The Reid property is located just 16 km southwest of Crawford and contains a geophysical target of 3.9 km2.
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