Highlights
- Midlothian: entire mineralized core length of 470 metres of
0.31% nickel, including 13.5 metres of 0.41% nickel in hole
MID24-15
- Bannockburn: All eight holes
yielded well-mineralized intervals with five of eight holes
containing intervals > 0.3% nickel.
- Deloro: All eleven holes
intersected well-mineralized intervals including hole DEL24-28 with
371 metres of 0.27% nickel including 39 metres of 0.30% nickel
- Nesbitt: Drilling resumed with
382 metres of 0.22% nickel, including 27 metres of 0.27% nickel
intersected in NES24-13
- An additional regional resource to be published - total of
eight resources by mid-2025
TORONTO, Jan. 23,
2025 /CNW/ - Canada Nickel Company Inc.
("Canada Nickel" or the "Company") (TSXV: CNC)
(OTCQX: CNIKF) is pleased to announce additional exploration
drilling results from the Company's Deloro, Bannockburn, Midlothian and Nesbitt properties. The Company completed over
118,000 metres of drilling on 14 properties during its successful
2024 drilling campaign, all located within 100 kilometres of the
Timmins mining camp.
CEO Mark Selby said, "Today's
results from four separate regional properties continue to
demonstrate the scale of the sulphide nickel potential of the
Timmins Nickel District. Midlothian's drilling results are showing
consistent grades with an average grade that is the highest to date
of all the Company's regional properties. Bannockburn drilling continues to yield
excellent results – including identification of other high-grade
targets as well as the intersection of a higher-grade zone within
the bulk tonnage zone. We continue to successfully infill and
extend the resource at Deloro, and
we have successfully resumed drilling at Nesbitt, which is located just seven
kilometres from Crawford, and which will become an additional
resource by mid-2025."
Regional Exploration
Programs
The Company now expects to publish a total of eight additional
regional resources by mid-2025. Reid and Deloro have already been published and
resources at Bannockburn, Mann
Central, Mann West, Midlothian, Nesbitt, and Texmont are expected to further
demonstrate the scale of nickel resources within the Timmins Nickel
District.
Bannockburn Property
The Bannockburn Property is located 65 kilometres south of
Timmins and approximately 20
kilometres west of Matachewan,
Ontario. The property has multiple targets including two
high-grade nickel zones. The B-zone geophysical target is the
largest target consisting of a bulk tonnage nickel zone with
approximately 1.6 kilometres of strike length and up to
700 m wide. The Company completed
infill drilling on the B-Zone with nine holes drilled in the fall
of 2024 (Figure 1). This release has results for seven of the nine
drillholes. All holes were drilled through long intersections of
strongly serpentinized and mineralized ultramafic rocks. With this
drilling and the data collected in 2023, the company intends to
produce a resource estimate by mid- 2025.
A single hole (BAN24-10) was drilled into the smaller D-zone to
the northwest, confirming continuation of the mineralized
ultramafic body almost 1 kilometre northwest of the main B-zone.
The D-zone will need further drilling to test its potential
extension from and connection to the B-zone (Figure 1).
Canada Nickel has also followed up on other prospective targets
that tested for higher-grade material. Historically, higher
grade intervals have been drilled at Bannockburn, within the C-zone and the F-zone.
The company is planning to target the F-zone with a summer program,
following up the positive results and promising geophysical
downhole surveys from holes BAN24-18 and BAN24-21. See news
releases of November 11 and
December 5 of 2024 for those
results.
Table 1 – Bannockburn
drilling highlights.
|
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)*
|
Ni %
|
Co %
|
Pd
g/t
|
Pt
g/t
|
Cr %
|
Fe %
|
S %
|
|
BAN24-07
|
67.3
|
402
|
334.7
|
0.26
|
0.010
|
0.003
|
0.005
|
0.15
|
4.11
|
0.01
|
|
including
|
116.5
|
151
|
34.5
|
0.29
|
0.009
|
0.003
|
0.003
|
0.10
|
3.68
|
0.01
|
|
BAN24-08
|
58.5
|
115
|
56.5
|
0.22
|
0.010
|
0.003
|
0.003
|
0.16
|
5.80
|
0.05
|
|
and
|
205.5
|
351
|
145.5
|
0.23
|
0.011
|
0.004
|
0.005
|
0.25
|
5.72
|
0.03
|
|
BAN24-09
|
24
|
66
|
42.0
|
0.24
|
0.010
|
0.003
|
0.005
|
0.36
|
5.47
|
0.07
|
|
and
|
87
|
351
|
264.0
|
0.27
|
0.010
|
0.005
|
0.005
|
0.13
|
4.36
|
0.04
|
|
including
|
225
|
331.5
|
106.5
|
0.30
|
0.009
|
0.007
|
0.006
|
0.10
|
3.57
|
0.05
|
|
BAN24-10
|
81
|
402
|
321.0
|
0.27
|
0.012
|
0.003
|
0.004
|
0.31
|
5.71
|
0.01
|
|
including
|
217.5
|
298.5
|
81.0
|
0.30
|
0.011
|
0.004
|
0.003
|
0.10
|
5.00
|
0.01
|
|
BAN24-11
|
73.9
|
363.5
|
289.6
|
0.29
|
0.009
|
0.005
|
0.004
|
0.10
|
3.62
|
0.04
|
|
including
|
75.5
|
99.5
|
24.0
|
0.40
|
0.011
|
0.020
|
0.013
|
0.11
|
3.94
|
0.12
|
|
BAN24-12
|
53.5
|
351
|
297.5
|
0.27
|
0.009
|
0.003
|
0.003
|
0.11
|
3.85
|
0.01
|
|
BAN24-14
|
60
|
401
|
341.0
|
0.29
|
0.009
|
0.004
|
0.004
|
0.11
|
3.81
|
0.02
|
|
including
|
329
|
392
|
63.0
|
0.31
|
0.010
|
0.011
|
0.009
|
0.11
|
3.99
|
0.04
|
|
BAN24-15
|
112.9
|
253.0
|
140.1
|
0.22
|
0.009
|
0.003
|
0.004
|
0.14
|
5.08
|
0.05
|
|
and
|
333.0
|
426.0
|
93.0
|
0.28
|
0.012
|
0.018
|
0.012
|
0.19
|
6.54
|
0.55
|
|
including
|
334.0
|
343.0
|
9.0
|
0.44
|
0.017
|
0.066
|
0.039
|
0.25
|
7.80
|
1.35
|
|
and
|
368.5
|
376.0
|
7.5
|
0.55
|
0.018
|
0.066
|
0.036
|
0.18
|
7.13
|
1.70
|
|
*True width
undetermined. All lengths are drillhole lengths.
|
|
Drill results in
italics with significantly higher sulphur contents are interpreted
to be extensions of the C-Zone into the B-Zone
|
Midlothian Property
The Midlothian property is located 70 kilometres south-southeast
of Timmins, 25 kilometres west of
Matachewan and is directly
accessible by road. Four drillholes were completed during the
winter of 2023 (see July 11, 2023,
release) and 12 additional drillholes were completed in the fall of
2024. All 12 holes intersected mineralized dunite at shallow depths
(Figure 2). These holes were drilled on a target measuring 2.7
kilometres long and 0.4 to 0.9 kilometres wide with a target
footprint of 1.7 km2 (compared to Crawford resource of
1.5 km2). This release contains assay information on 10
completed holes (see new releases dated April 13, 2023, and May
24, 2023). Assays are still pending on two drillholes.
With the combined 2023 and 2024 drilling, the company intends to
produce an initial resource estimate at Midlothian by mid-2025.
Table 2 – Midlothian drilling highlights.
|
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)*
|
Ni %
|
Co %
|
Pd
g/t
|
Pt
g/t
|
Cr %
|
Fe %
|
S %
|
|
MID24-05
|
15.5
|
406.4
|
390.9
|
0.28
|
0.011
|
0.003
|
0.003
|
0.14
|
4.71
|
0.01
|
|
including
|
141.5
|
237.5
|
96.0
|
0.30
|
0.012
|
0.003
|
0.003
|
0.12
|
4.33
|
0.01
|
|
MID24-06
|
0.2
|
253.6
|
253.4
|
0.26
|
0.012
|
0.003
|
0.003
|
0.31
|
5.53
|
0.01
|
|
including
|
174
|
253.6
|
79.6
|
0.30
|
0.011
|
0.003
|
0.003
|
0.12
|
4.87
|
0.01
|
|
and
|
252
|
399
|
147.0
|
0.30
|
0.011
|
0.003
|
0.003
|
0.11
|
4.59
|
0.01
|
|
MID24-07
|
2.5
|
385.5
|
383.0
|
0.26
|
0.011
|
0.003
|
0.003
|
0.26
|
5.53
|
0.02
|
|
including
|
42
|
85.5
|
43.5
|
0.30
|
0.011
|
0.003
|
0.003
|
0.11
|
4.26
|
0.02
|
|
MID24-08
|
35.3
|
317
|
281.7
|
0.26
|
0.011
|
0.003
|
0.004
|
0.27
|
5.40
|
0.02
|
|
and
|
319
|
399
|
80.0
|
0.28
|
0.011
|
0.003
|
0.003
|
0.14
|
4.69
|
0.01
|
|
MID24-09
|
6.5
|
89.7
|
83.2
|
0.29
|
0.010
|
0.003
|
0.003
|
0.11
|
4.20
|
0.04
|
|
and
|
138.5
|
399
|
260.5
|
0.27
|
0.012
|
0.004
|
0.004
|
0.25
|
5.62
|
0.02
|
|
including
|
139.5
|
190.5
|
51.0
|
0.30
|
0.011
|
0.003
|
0.003
|
0.26
|
4.06
|
0.03
|
|
MID24-10
|
126
|
406.5
|
280.5
|
0.24
|
0.012
|
0.004
|
0.005
|
0.26
|
5.60
|
0.03
|
|
including
|
286.5
|
342
|
55.5
|
0.29
|
0.011
|
0.003
|
0.004
|
0.14
|
4.67
|
0.01
|
|
MID24-11
|
8.8
|
31.1
|
22.3
|
0.28
|
0.011
|
0.002
|
0.002
|
0.10
|
3.65
|
0.06
|
|
and
|
119
|
385
|
266.0
|
0.26
|
0.012
|
0.003
|
0.003
|
0.28
|
5.39
|
0.02
|
|
including
|
119
|
229
|
110.0
|
0.29
|
0.010
|
0.003
|
0.004
|
0.11
|
4.43
|
0.02
|
|
MID24-12
|
4
|
71.9
|
67.9
|
0.27
|
0.011
|
0.003
|
0.003
|
0.29
|
5.36
|
0.07
|
|
and
|
94.2
|
185.5
|
91.3
|
0.19
|
0.012
|
0.006
|
0.008
|
0.39
|
6.72
|
0.04
|
|
and
|
212.5
|
399
|
186.5
|
0.23
|
0.011
|
0.003
|
0.003
|
0.24
|
6.00
|
0.02
|
|
MID24-15
|
31.3
|
501.0
|
469.7
|
0.31
|
0.010
|
0.003
|
0.003
|
0.11
|
4.02
|
0.02
|
|
Including
|
342.0
|
372.0
|
30.0
|
0.34
|
0.010
|
0.003
|
0.003
|
0.11
|
4.17
|
0.01
|
|
and
|
469.5
|
483.0
|
13.5
|
0.41
|
0.010
|
0.003
|
0.003
|
0.10
|
3.83
|
0.01
|
|
MID24-16
|
7
|
384
|
377.0
|
0.29
|
0.011
|
0.003
|
0.003
|
0.20
|
4.78
|
0.01
|
|
*True width
undetermined. All lengths are drillhole lengths.
|
Deloro Project
The Deloro Project is located just 8 kilometres south of
Timmins and is accessible
year-round by road as well as located less than 2 kilometres from
existing powerlines. In July 2024,
the Company successfully filed a Mineral Resource Estimate on
Deloro consisting of 357 million
tonnes of Inferred Resources grading 0.25% nickel, and 81 million
tonnes of Indicated Resources grading 0.25% nickel. In the fall of
2024, Canada Nickel drilled 19 new holes to expand the existing
resource including the known boundary of the mineralized zone. This
release outlines the results from 11 drillholes with assays pending
on the remaining eight drillholes (Figure 3). The drillholes
successfully intersected strongly mineralized sections of
ultramafic rocks such as in hole DEL24-28 which returned 371.0
metres of 0.27% nickel including 39.0 metres of 0.30% nickel. The
infill campaign continues to show the potential of Deloro which benefits from lower overburden
thickness, and excellent proximity to major infrastructure
including roads and powerlines. An updated resource for
Deloro is planned by mid-2025.
Table 3 – Deloro
drilling highlights.
|
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)*
|
Ni %
|
Co %
|
Pd
g/t
|
Pt
g/t
|
Cr %
|
Fe %
|
S %
|
|
DEL24-23
|
8.5
|
70.9
|
62.4
|
0.23
|
0.010
|
0.003
|
0.003
|
0.16
|
5.37
|
0.08
|
|
and
|
121.3
|
402.0
|
280.7
|
0.26
|
0.010
|
0.003
|
0.003
|
0.28
|
5.25
|
0.06
|
|
including
|
339.5
|
375.5
|
36.0
|
0.29
|
0.010
|
0.003
|
0.003
|
0.13
|
5.22
|
0.07
|
|
DEL24-25
|
12.0
|
368.0
|
356.0
|
0.25
|
0.012
|
0.003
|
0.004
|
0.33
|
5.67
|
0.08
|
|
including
|
252.0
|
316.5
|
64.5
|
0.28
|
0.012
|
0.003
|
0.003
|
0.25
|
5.25
|
0.04
|
|
DEL24-27
|
14.0
|
226.0
|
212.0
|
0.25
|
0.011
|
0.003
|
0.004
|
0.35
|
5.70
|
0.05
|
|
and
|
240.0
|
268.5
|
28.5
|
0.27
|
0.011
|
0.003
|
0.003
|
0.28
|
5.19
|
0.08
|
|
and
|
277.5
|
501
|
223.5
|
0.27
|
0.011
|
0.003
|
0.003
|
0.28
|
5.19
|
0.08
|
|
including
|
339.0
|
358.5
|
19.5
|
0.30
|
0.012
|
0.003
|
0.004
|
0.25
|
5.18
|
0.04
|
|
and
|
451.5
|
471.0
|
19.5
|
0.30
|
0.012
|
0.003
|
0.003
|
0.22
|
5.34
|
0.05
|
|
DEL24-28
|
130.0
|
501.0
|
371.0
|
0.27
|
0.011
|
0.003
|
0.003
|
0.19
|
5.00
|
0.05
|
|
including
|
252.0
|
291.0
|
39.0
|
0.30
|
0.011
|
0.003
|
0.003
|
0.16
|
5.20
|
0.05
|
|
DEL24-29B
|
120.4
|
363.0
|
242.6
|
0.23
|
0.012
|
0.003
|
0.004
|
0.43
|
5.95
|
0.06
|
|
DEL24-31
|
12.5
|
292.3
|
279.8
|
0.26
|
0.011
|
0.003
|
0.003
|
0.23
|
5.24
|
0.08
|
|
and
|
317.5
|
389.5
|
72.0
|
0.23
|
0.010
|
0.003
|
0.003
|
0.21
|
4.86
|
0.22
|
|
and
|
486.5
|
519.0
|
32.5
|
0.22
|
0.010
|
0.003
|
0.003
|
0.20
|
5.25
|
0.09
|
|
DEL24-32
|
48.7
|
416.5
|
367.8
|
0.26
|
0.011
|
0.003
|
0.004
|
0.33
|
5.66
|
0.04
|
|
including
|
267.0
|
394.5
|
127.5
|
0.29
|
0.011
|
0.003
|
0.003
|
0.24
|
5.37
|
0.05
|
|
DEL24-33
|
3.6
|
198.8
|
195.2
|
0.24
|
0.010
|
0.003
|
0.003
|
0.18
|
5.21
|
0.06
|
|
including
|
4.5
|
22.5
|
18.0
|
0.29
|
0.010
|
0.003
|
0.003
|
0.11
|
5.27
|
0.08
|
|
DEL24-34
|
18.0
|
58.0
|
40.0
|
0.20
|
0.012
|
0.003
|
0.005
|
0.49
|
5.71
|
0.02
|
|
and
|
93.0
|
420.0
|
327.0
|
0.27
|
0.011
|
0.003
|
0.003
|
0.20
|
4.95
|
0.05
|
|
DEL24-36
|
42.0
|
231.6
|
189.6
|
0.21
|
0.010
|
0.004
|
0.004
|
0.23
|
5.68
|
0.04
|
|
DEL24-37
|
9.2
|
196.7
|
187.5
|
0.28
|
0.010
|
0.003
|
0.003
|
0.22
|
4.53
|
0.03
|
|
Including
|
51.0
|
75.0
|
24.0
|
0.30
|
0.011
|
0.003
|
0.003
|
0.27
|
4.73
|
0.01
|
|
and
|
204.6
|
501.0
|
296.4
|
0.28
|
0.011
|
0.003
|
0.003
|
0.12
|
5.11
|
0.03
|
|
*True width
undetermined. All lengths are drillhole lengths.
|
Nesbitt Property
The Nesbitt Property is located just 7 kilometres
north-northwest of Canada Nickel's Crawford Nickel Sulphide
Project. Nesbitt contains two
ultramafic sills that strike east-west, the larger sill having a
geophysical expression of 1.0 kilometres along strike. Preliminary
drill results were announced in 2021 and 2022 (see news release
dated May 10, 2022).
Given the close proximity to Crawford and minimal overburden,
Nesbitt could present an
opportunity to provide aggregate material to the mine site
construction as well as additional nickel ore.
In the fall of 2024, the Company drilled eight new holes to
infill sections of the Nesbitt
ultramafic with the goal of producing a resource estimate in 2025.
The current drill program will infill the western ultramafic and is
planned for Q1 2025.
Assay results from seven of the drillholes (Figure 4) are
disclosed in this release. All holes intersected
serpentinized and mineralized peridotite and lesser dunite,
interrupted by minor late dykes.
Table 4 – Drilling highlights Nesbitt program
|
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)*
|
Ni %
|
Co %
|
Pd
g/t
|
Pt
g/t
|
Cr %
|
Fe %
|
S %
|
|
NES24-12
|
21.7
|
272.4
|
250.7
|
0.24
|
0.012
|
0.008
|
0.008
|
0.30
|
6.06
|
0.09
|
|
NES24-13
|
67.8
|
450.0
|
382.2
|
0.22
|
0.011
|
0.006
|
0.007
|
0.34
|
6.32
|
0.07
|
|
including
|
268.5
|
295.5
|
27.0
|
0.27
|
0.010
|
0.009
|
0.008
|
0.12
|
4.71
|
0.19
|
|
and
|
372.0
|
378.0
|
6.0
|
0.30
|
0.012
|
0.012
|
0.012
|
0.20
|
5.26
|
0.09
|
|
NES24-15
|
22.5
|
351.0
|
328.5
|
0.23
|
0.011
|
0.003
|
0.005
|
0.27
|
5.80
|
0.06
|
|
NES24-16
|
25.5
|
74.9
|
49.4
|
0.23
|
0.012
|
0.010
|
0.008
|
0.25
|
6.29
|
0.07
|
|
and
|
137.7
|
148.0
|
10.3
|
0.25
|
0.011
|
0.013
|
0.010
|
0.14
|
5.02
|
0.11
|
|
and
|
155.5
|
168.0
|
12.5
|
0.23
|
0.010
|
0.008
|
0.006
|
0.17
|
5.32
|
0.16
|
|
NES24-17
|
7.5
|
149.5
|
142.0
|
0.20
|
0.012
|
0.019
|
0.016
|
0.31
|
6.88
|
0.08
|
|
and
|
186.2
|
205.0
|
18.8
|
0.21
|
0.012
|
0.010
|
0.005
|
0.31
|
6.50
|
0.08
|
|
NES24-18
|
54.0
|
97.5
|
43.5
|
0.17
|
0.011
|
0.005
|
0.008
|
0.47
|
7.31
|
0.04
|
|
and
|
172.3
|
201.0
|
28.7
|
0.19
|
0.011
|
0.009
|
0.008
|
0.37
|
6.67
|
0.03
|
|
and
|
230.0
|
501.0
|
271.0
|
0.18
|
0.011
|
0.010
|
0.008
|
0.45
|
6.96
|
0.04
|
|
NES24-19
|
88.5
|
208.5
|
120.0
|
0.19
|
0.012
|
0.010
|
0.006
|
0.39
|
7.10
|
0.05
|
|
and
|
214.8
|
308.8
|
94.0
|
0.24
|
0.011
|
0.008
|
0.006
|
0.20
|
5.80
|
0.05
|
|
*True width
undetermined. All lengths are drillhole lengths.
|
Table 5: Drillhole Orientation
|
Hole
ID
|
Easting
(mE)
|
Northing
(mN)
|
Azimuth
(⁰)
|
Dip
(⁰)
|
Length
(m)
|
|
DELORO
|
|
DEL24-23
|
480980
|
5360569
|
60
|
-84
|
402
|
|
DEL24-25
|
480231
|
5361597
|
70
|
-50
|
408
|
|
DEL24-27
|
480334
|
5361525
|
70
|
-84
|
501
|
|
DEL24-28
|
480294
|
5361200
|
70
|
-50
|
501
|
|
DEL24-29B
|
480713
|
5360636
|
310
|
-76
|
363
|
|
DEL24-31
|
480475
|
5361470
|
70
|
-50
|
519
|
|
DEL24-32
|
480240
|
5361390
|
70
|
-50
|
501
|
|
DEL24-33
|
480809
|
5361303
|
70
|
-50
|
300
|
|
DEL24-34
|
480497
|
5360715
|
70
|
-50
|
420
|
|
DEL24-36
|
480900
|
5360945
|
70
|
-50
|
336
|
|
DEL24-37
|
480566
|
5360849
|
70
|
-84
|
501
|
|
BANNOCKBURN
|
|
BAN24-07
|
506617
|
5314086
|
240
|
-55
|
402
|
|
BAN24-08
|
506677
|
5313701
|
240
|
-55
|
381
|
|
BAN24-09
|
506475
|
5314390
|
240
|
-55
|
351
|
|
BAN24-10
|
505420
|
5315110
|
75
|
-50
|
402
|
|
BAN24-11
|
506342
|
5314134
|
60
|
-55
|
363
|
|
BAN24-12
|
507225
|
5313385
|
235
|
-55
|
351
|
|
BAN24-14
|
506931
|
5313715
|
235
|
-55
|
401
|
|
BAN24-15
|
506931
|
5313715
|
55
|
-55
|
426
|
|
MIDLOTHIAN
|
|
MID24-05
|
499940
|
5303217
|
180
|
-50
|
406
|
|
MID24-06
|
499296
|
5303222
|
180
|
-50
|
399
|
|
MID24-07
|
499710
|
5303026
|
5
|
-50
|
399
|
|
MID24-08
|
499103
|
5303244
|
180
|
-50
|
399
|
|
MID24-09
|
499590
|
5302980
|
180
|
-50
|
399
|
|
MID24-10
|
498903
|
5303246
|
180
|
-50
|
408
|
|
MID24-11
|
499590
|
5302980
|
335
|
-50
|
385
|
|
MID24-12
|
498700
|
5303180
|
180
|
-50
|
399
|
|
MID24-15
|
500524
|
5303089
|
180
|
-50
|
493
|
|
MID24-16
|
499097
|
5302989
|
180
|
-50
|
384
|
|
NESBIT
|
|
NES24-12
|
469000
|
5417050
|
180
|
-50
|
321
|
|
NES24-13
|
468820
|
5417140
|
180
|
-50
|
450
|
|
NES24-15
|
469841
|
5417205
|
195
|
-50
|
351
|
|
NES24-16
|
468720
|
5417007
|
180
|
-50
|
252
|
|
NES24-17
|
470141
|
5417148
|
195
|
-50
|
378
|
|
NES24-18
|
468905
|
5417140
|
180
|
-50
|
501
|
|
NES24-19
|
469883
|
5416994
|
15
|
-50
|
353
|
Automated Market Making
Services
The Company has engaged the services of ICP Securities Inc.
("ICP") to provide automated market making services, including
use of its proprietary algorithm, ICP Premium™, in compliance with
the policies and guidelines of the TSX Venture Exchange and other
applicable legislation. ICP will be paid a monthly fee of
C$7,500, plus applicable taxes. The
agreement between the Company and ICP was signed with a start date
of January 23, 2024, and is for four
(4) months (the "Initial Term") and shall be automatically renewed
for subsequent one (1) month terms (each month called an
"Additional Term") unless either party provides at least thirty
(30) days written notice prior to the end of the Initial Term or an
Additional Term, as applicable. There are no performance factors
contained in the agreement and no stock options or other
compensation in connection with the engagement. ICP and its clients
may acquire an interest in the securities of the Company in the
future.
ICP is an arm's length party to the Company. ICP's market making
activity will be primarily to correct temporary imbalances in the
supply and demand of the Company's shares. ICP will be responsible
for the costs it incurs in buying and selling the Company's shares,
and no third party will be providing funds or securities for the
market making activities.
About ICP Securities
Inc.
ICP Securities Inc. is a Toronto based CIRO dealer-member that
specializes in automated market making and liquidity provision, as
well as having a proprietary market making algorithm, ICP Premium™,
that enhances liquidity and quote health. Established in 2023, with
a focus on market structure, execution, and trading, ICP has
leveraged its own proprietary technology to deliver high quality
liquidity provision and execution services to a broad array of
public issuers and institutional investors.
Statement Regarding TSX
Venture
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Quality Assurance and Control,
Drilling and Assaying
Edwin Escarraga, MSc, P.Geo., a
"qualified person" as defined by National Instrument 43-101, is
responsible for the on-going drilling and sampling program,
including quality assurance (QA) and quality control (QC). The core
is collected from the drill in sealed core trays and transported to
the core logging facility. The core is marked and sampled at 1.5
metre lengths and cut with a diamond blade saw. One set of samples
is transported in secured bags directly from the Canada Nickel core
shack to Actlabs Timmins, while a second set of samples is securely
shipped to SGS Lakefield for preparation, with analysis performed
at SGS Burnaby. All are ISO/IEC 17025 accredited labs. Analysis for
precious metals (gold, platinum and palladium) are completed by
Fire Assay while analysis for nickel, cobalt, sulphur and other
elements are performed using a peroxide fusion and ICP-OES
analysis. Certified standards and blanks are inserted at a rate of
3 QA/QC samples per 20 core samples making a batch of 60 samples
that are submitted for analysis.
Qualified Person and Data
Verification
Stephen J. Balch P.Geo. (ON), VP
Exploration of Canada Nickel and a "qualified person" as such term
is defined by National Instrument 43-101, has verified the data
disclosed in this news release, and has otherwise reviewed and
approved the technical information in this news release on behalf
of Canada Nickel Company Inc.
About Canada Nickel Company
Canada Nickel Company Inc. 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 Company has applied in multiple jurisdictions to
trademark the terms NetZero NickelTM, NetZero
CobaltTM, NetZero IronTM 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, please visit www.canadanickel.com.
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward looking information includes,
but is not limited to, drill and exploration results relating to
the target properties described herein (the "Properties"), the
significance of drill results, the ability to continue drilling,
the impact of drilling on the definition of any resource, the
potential of the Crawford Nickel Sulphide Project and the
Properties, timing and completion (if at all) of mineral resource
estimates, the ability to sell marketable materials, strategic
plans, including future exploration and development plans and
results, corporate and technical objectives, receipt of TSX Venture
Exchange approval for the acquisition described herein and the
completion of the transaction. Forward-looking information is
necessarily based upon several assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking information. Factors that could affect the
outcome include, among others: future prices and the
supply of metals, the future demand for metals, the results of
drilling, inability to raise the money necessary to incur the
expenditures required to retain and advance the property,
environmental liabilities (known and unknown),
general business, economic, competitive, political and social
uncertainties, results of exploration programs, risks of the
mining industry, delays in obtaining governmental approvals,
failure to obtain regulatory or shareholder approvals. There
can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof.
Canada Nickel disclaims any intention or obligation to update or
revise any forward-looking information, whether because of new
information, future events or otherwise, except as required by
law.
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SOURCE Canada Nickel Company Inc.
