Canada Nickel (TSXV: CNC) has seen continued positive resulting from drilling at its Reid property, where the company has released results on a further four drill holes.
The latest holes come from the western portion of the deposit, where Canada Nickel has targeted near the centre of the intrusion. The ultramafic sequence in this area is said to be more than 800 metres thick, with three of the four holes said to have been collared and ended in Dunite, while a fourth hole was collared on a small-dyke that later intersected dunite at depth.
Highlights from the results include:
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- REI24-18: 687.7 metres of 0.27% nickel, including 36.0 metres of 0.41% nickel.
- REI24-19: 676.5 metres of 0.25% nickel, including 378.0 metres of 0.28% nickel
- REI24-20: 676.0 metres of 0.25% nickel, including 113.3 metres of 0.35% nickel
- REI24-21: 726.0 metres of 0.24% nickel, including 44.5 metres of 0.32% nickel
“Reid continues to deliver excellent results with yet another best drill interval to date. We are encouraged by these four additional drill results with long drill intervals and three of the four holes reporting higher grade intervals,” commented CEO Mark Selby on the results.
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The company currently has six drill rigs turning across its properties, with the aim of delivering seven new resource estimates by the second quarter of 2025. Four additional holes are said to be pending results at Reid.
Canada Nickel last traded at $1.44 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
