Canada Nickel drills new higher grade core at Crawford East

Canada Nickel (TSXV: CNC; US-OTC: CNIKF) has discovered a high-grade core in the East zone through infill drilling at the Crawford nickel-cobalt project 40 km north of Timmins in Ontario. The junior says the mineralization is similar to that in the Main zone.

“The most recent infill and expansion drilling at the Crawford East zone continues to confirm our target of increasing the East zone resource by two-to-three times and the identification of an extensive higher grade core, similar to the Main zone, has been an exciting development,” Mark Selby, Canada Nickel’s chairman and CEO, stated in a news release. 

Hole 142A averaged 0.31% nickel across its entire 576 metre core length, ending in mineralization. Hole 165A (assays pending) was mineralized across its entire 690 metre core length, ending in higher grade mineralization at 735 metres. Five other holes recently completed intersected drill intervals of up to 216.6 metres of higher grade mineralization.

The East zone has now been drilled to a strike length of 1.6 km, a width of 20 to 50 metres, and a depth over 700 metres. The western part of the higher grade core has a strike length of 900 metres and extends from surface to a depth of 730 metres. The eastern part has a strike of 700 metres and extends from surface to a depth of 280 metres, and additional dill holes are testing that depth.

Samples from the East zone core yielded the highest grade concentrate during metallurgical testing reported in a preliminary economic study for the project.

Canada Nickel has planned a resource update on the Crawford Main, East and North zones ahead of a feasibility study expected later in 2022.

Pierre Vaillancourt of Haywood Securities notes that the development of the Eastern Zone “adds optionality to Crawford, and will strengthen the feasibility study planned for  mid-2022.” He has a buy rating on the company “based on Crawford’s district potential and growing interest in the project by producers and offtakers.”

“We look for strategic investments in the company to help validate the project,” he wrote in a research note to clients.