Canada Nickel Company Inc. Announces an Exploration Update for Its Reid Property Located Within 16 Km of the Crawford Nickel Discovery
The hole displayed moderate to strong serpentinization throughout. The dunite averaged 0.25% nickel over 97.5 metres and 0.28 % nickel over 110.9 metres, including 0.30% nickel over 54.0 metres. REI22-09 also collared in peridotite and transitioned into dunite to the end of hole, only interrupted by two late dykes. The hole was collared on the south of the anomaly and drilled to the north. The hole displayed moderate serpentinization throughout with an increase of nickel mineralization at depth. Partial assays contain 0.22% nickel over 226.5 metres, including 0.26% nickel over 67.5 metres. Reid - North Limb Area Drilling: The north Limb Area extends northwest for 1.5 kilometres strike length and around 400 metres width, with a target footprint of 0.6 km2. Six drillholes targeted this area, with all intersecting mineralized dunite and peridotite sections. REI22-10 was collared near the center of the anomaly in a transitioning dunite-peridotite lithology, interrupted by a late mafic dyke. The hole displayed moderate to strong serpentinization. Dunite- peridotite in this hole averaged 0.20% nickel over 275 metres including 0.24% nickel over 125.1 metres. REI22-11 collared approximately 250 metres west of REI22-10, near the western contact of the anomaly and continued on transitional peridotite-dunite lithology, interrupted by several late dykes. The hole averaged 0.15% nickel over 378.4 metres. REI22-12 collared in peridotite and into dunite to the end of hole. The hole was collared on the northwest extension of the anomaly and drilled to the southwest. The hole displayed strong serpentinization throughout. Partial assays of the top of the hole contain 0.22% nickel over 306.0 metres. REI22-13 collared approximately 400 metres northwest of REI22-12 in a gabbro to pyroxenite to peridotite sequence. The hole ended in moderate to strongly serpentinized dunite. Peridotite-dunite averaged 0.19% nickel over 360.0 metres, including 0.24% nickel over 163.5 metres. At the top of the hole, a section of the pyroxenite averaged 1.89 g/t Pt+Pd over 6.0 metres. REI22-15 collared in dunite approximately 640 metres southeast of REI22-12 and ended in peridotite. The dunite averaged 0.20% nickel over 249.0 metres. With these encouraging results, Canada Nickel plans to resume drilling at Reid in 2023. The south limb of the anomaly remains to be drilled.