Canada Nickel Company Announces Initial Deloro Nickel Sulphide Project Resource
Highlights:
- First of seven new nickel resources expected to be published by end of the first quarter of 2025 demonstrating the potential scale of the
Timmins Nickel District - Initial
Deloro indicated Resource of 81 million tonnes grading 0.25% nickel containing 202kt of nickel plus a further Inferred Resource of 357 million tonnes grading 0.25% nickel containing 885kt of nickel - Seven exploration rigs currently drilling across the
Timmins Nickel District
Selby continued, "Our exploration program continues to successfully demonstrate the potential of the
Deloro Mineral Resource Estimate
For the initial Mineral Resource Estimate, a total of 8,242 metres of core drilling in 22 drill holes was utilized to calculate the Mineral Resources in two categories as provided in Table 1 below. Inferred Resources totalled 357 million tonnes grading 0.25% Ni, for a total of 885 kt of contained nickel, and Indicated Resources totalled 81 million tonnes grading 0.25% Ni, for a total of 202 kt of contained nickel. A cut-off grade of 0.10% Ni was used. Example cross-section and block model views of the resource estimate are provided in Figures 1 through 4 below.
Drilling at
This Mineral Resource Estimate was prepared by
Table 1 – Initial Mineral Resource Estimate (in-pit resources) for the
Mineral Resource Estimate |
|
Contained Metal |
|||||||||||||||
DOMAIN |
CLASS |
TONNES (Mt) |
Ni (%) |
Co (%) |
Fe (%) |
Cr (%) |
S (%) |
Pd (g/t) |
Pt (g/t) |
Ni (kt) |
Co (kt) |
Fe (Mt) |
Cr (kt) |
S (kt) |
Pd (koz) |
Pt (koz) |
|
MAIN |
Indicated |
81.3 |
0.25 |
0.011 |
5.2 |
0.24 |
0.056 |
0.0029 |
0.0045 |
201.8 |
8.6 |
4.2 |
193.6 |
45.6 |
7.7 |
11.8 |
|
Inferred |
357.5 |
0.25 |
0.011 |
5.2 |
0.23 |
0.063 |
0.0040 |
0.0053 |
885.4 |
38.0 |
18.6 |
835.4 |
224.9 |
45.7 |
60.6 |
*Totals may not add due to rounding. |
1. |
The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Dr. |
2. |
The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. |
3. |
A cut-off grade of 0.10% Ni was used for the Main Domain (combined high- and low-grade estimated domains). Cut-offs were determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types. |
4. |
Geological and block models for the Mineral Resource Estimate used data from a total of 22 surface drill holes, completed by CNC in 2022-2024. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by CNC and by comparison of umpire assays performed at a second laboratory. |
5. |
Estimates have been rounded to two significant figures. |
6. |
The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines ( |
7. |
The geological model as applied to the Mineral Resource Estimate comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (dunite) and two, western and eastern, lower-grade envelopes (peridotite). Individual wireframes were created for each domain in Leapfrog Geo 2023.2.3 software. |
8. |
A 20 m x 20 m x 15 m block model was created, and samples were composited at 7.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method in Isatis 2024.04 software. |
9. |
The mineral resource estimates have been revised to include a conceptual pit envelope constraint that was developed using the following optimization parameters. Metal prices used were |
10. |
Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, cross-plots of declustered samples against the nearest OK estimate, and by visual inspection of the assay data, block model, and grade shells in cross-sections. |
11. |
Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, on the basis of 954 specific gravity measurements collected during the core logging process, using the same block model parameters of the grade estimation. As a reference, the average estimated density value within dunite is 2.62 g/cm3 (t/m3), while peridotite domains yielded averages of 2.69 g/cm3 (t/m3) in the west and 2.75 g/cm3 (t/m3) in the east. |
Exploration Update
The Company's 2024 exploration program focused on demonstrating the potential of the Company's portfolio in the
Next Steps:
- A technical report with respect to the Mineral Resource Estimate disclosed today will be filed within 45 days as required by National Instrument 43-101.
- Mineralogical studies and metallurgical testwork will continue through the fourth quarter of 2024, as well as infill drilling to further upgrade the resource.
Assays, Quality Assurance/Quality Control and Drilling and Assay
Qualified Person and Data Verification
The magnetic images shown in this press release were created from
About Canada Nickel Company
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com
Cautionary Note and 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, the potential of the
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