Sunday, October 25News That Matters

Canada Nickel Publicizes Airborne Geophysical Stare Underway on No longer too prolonged ago Obtained Risk Properties

“This airborne spy is the serious next step in unlocking the nickel-cobalt sulphide doubtless of the overall land equipment we delight in now assembled to boot to to our Crawford mission: seven varied buildings ranging in dimension from 2.2 kilometres prolonged by 375-600 metres wide (Kingsmill), to eight kilometres prolonged by 200-500 metres wide (Mahaffy-Aubin). Every structure has yielded historical drill intersections indicating that the geophysical targets identified are nickel-bearing,” stated Mark Selby, Chair and CEO of Canada Nickel.

“With our only within the near past introduced $13 million financing and this airborne spy underway, we live up for building on the neat resource we delight in now already outlined at our Crawford nickel-cobalt mission and starting up to unlock the district scale nickel-cobalt doubtless we think this region holds over the impending autumn and winter seasons.”

Airborne spy and drilling results from the Crawford Significant and East Zones showed a stable correlation between thunder magnetic and gravity signatures and nickel mineralization. This intelligent geophysical signature was as soon as successfully utilized for ranking drill targets at Crawford.

The Crawford Nickel-Cobalt Sulphide Project is found within the heart of the prolific TimminsCochrane mining camp in Ontario, Canada, and is adjacent to smartly-established, most major infrastructure related to over 100 years of regional mining exercise.

Airborne Stare

The airborne spy, flown by CGG Canada Services and products Ltd. the exercise of the Falcon® system, will encompass measurements of the overall magnetic intensity and the vertical gravity gradient made along flight traces oriented north-south and spaced 100 m aside. The original spy totals 2,731 l-km and provides to the previously obtained 2,000 l-km to fully quilt Crawford and Carnegie Townships to boot to the Nesbitt-North, Kingsmill, MacDiarmid and Mahaffy exploration targets.  Acquire out about Identify 1 under.

Overview of Risk Properties (Beforehand launched on July 13, 2020)

Kingsmill

The Kingsmill goal is a neat serpentinized ultramafic intrusion which is 2.2 km prolonged and between 375-600 metres wide.  For reference, the Crawford Significant Zone resource is 1.7 km prolonged and 225-425 metres wide.

Preliminary evaluate of historical drilling results has yielded every critical nickel and PGM intersections and the north facet of the structure looks to please in the identical PGE enrichment as Crawford Significant and East Zones: 1.0 g/t PGM over 2 metres from 96 metres inside 0.3 g/t PGM over 30 metres from 69 metres in ancient hole KML-12-11, 0.8 g/t PGM over 5 metres from 523 metres inside 0.5 g/t PGM over 24 metres in ancient hole KML-12-07.

The Firm believes that the initial evaluate aspects to several neat parts of the structure which remain extremely doubtless for nickel-cobalt-PGM mineralization:

  • The two sections were 1.3 km aside leaving a neat fragment of the overall structure fully untested
  • There are several intersections which aspects to the aptitude for pretty bigger quantities of recoverable minerals
    • Holes KML-12-06, KML-12-11, KML-12-12 on the Jap fragment all contained intersections with critical nickel and sulphur say (which is critical for formation of nickel sulphide minerals) across wide intersections (explore Table 1 under)
    • Hole KML-12-03, yielding 0.26% nickel and zero.03% sulphur over 130 metres, was as soon as the handiest hole (of four holes on the Western fragment) drilled on the northern half of of the structure, which has yielded the finest mineralized parts of the Crawford Significant and East Zones
    • Historic hole 27090, moreover drilled on north facet of the structure in 1966, yielded 0.31% nickel over 302 metres (sulphur was as soon as no longer assayed)

The working out of the mineralogy of these deposits has evolved vastly since the Kingsmill drilling was as soon as carried out eight years ago, in particular the controls and the deportment of without doubt recoverable nickel minerals across a deposit.  Preliminary mineralogy results from Kingsmill in 2012 were inconclusive because the check was as soon as performed on one master sample compiled from all drill cores across a distance of two km – no longer bearing in concepts the loads of variability in mineralogy between rock kinds, and that some ultramafic rock can delight in low quantities of without doubt recoverable nickel minerals.

Acquire out about Tables 1a and 1b and Identify 2 for results. Acquire out about under caution when it comes to Historical Info.

Table 1a – Kingsmill Chosen Historical Drilling Key Nickel Intersections – Holes 6, 11, 12 (Jap), 3 (Western), Kingsmill Township, Ontario

DDH ID

From

To

Size

Ni

Co

Pd

Pt

S

Fe


(m)

(m)

(m)

(%)

(%)

(g/t)

(g/t)

(%)

(%)

KML-12-02

117.1

620.6

503.5

0.30

0.012

0.003

0.003

0.01

5.36











KML-12-03

134.0

264.4

130.4

0.26

0.012

0.022

0.022

0.03

6.51

along side

134.0

169.0

35.0

0.24

0.013

0.042

0.055

0.01

7.59

Including

235.0

264.4

29.4

0.27

0.011

0.008

0.003

0.06

5.94











KML-12-06

54.7

550.0

495.3

0.21

0.011

0.006

0.005

0.05

5.89

along side

57.0

324.0

267.0

0.26

0.011

0.008

0.006

0.03

5.88











KML-12-11

112.0

304.0

192.0

0.24

0.011

0.009

0.006

0.03

6.11

along side

181.0

303.0

122.0

0.27

0.012

0.008

0.005

0.02

6.25











KML-12-12

175.0

272.0

97.0

0.18

0.011

0.018

0.010

0.10

5.98

Show: the lengths reported are core lengths and no longer genuine widths. Canada Nickel has inadequate files to resolve the standpoint, both of the ultramafic physique or of mineralized zones inside it. Proper widths shall be no longer as a lot as the core lengths by a replace of factors. The drill hole orientations are reported in Table 2. Acquire out about under caution when it comes to Historical Info.

Table 1b – Kingsmill Chosen Historical Drilling Key PGM Intersections – Holes 6, 11, 12 (Jap), 3 (Western), Kingsmill Township, Ontario

DDH ID

From

To

Size

Pd+Pt

Pd

Pt

Ni

Co


(m)

(m)

(m)

(g/t)

(g/t)

(g/t)

(%)

(%)

KML-12-07

522.0

546.2

24.2

0.4

0.2

0.2

0.06

0.008

along side

523.0

528.0

5.0

0.8

0.5

0.3

0.02

0.005










KML-12-11

69.0

99.0

30.0

0.3

0.1

0.1

0.01

0.004

along side

96.0

98.0

2.0

1.0

0.3

0.7

0.01

0.005










KML-12-12

153.0

157.0

4.0

0.4

0.2

0.3

0.02

0.005

Show: the lengths reported are core lengths and no longer genuine widths. Canada Nickel has inadequate files to resolve the standpoint, both of the ultramafic physique or of mineralized zones inside it. Proper widths shall be no longer as a lot as the core lengths by a replace of factors. The drill hole orientations are reported in Table 2. Acquire out about under caution when it comes to Historical Info.

For slight print on Noble Mineral Exploration Inc.’s (“Noble”) 2012 drilling program, please explore Noble’s press free up dated March 15, 2018 that’s filed on www.sedar.com.

As soon as the resource update for Crawford is total, the ancient drilling shall be re-logged per our working out of the geology, and mineralogical samples shall be selected to attain the deportment of without doubt recoverable nickel minerals (pentlandite, heazlewoodite, awaruite).

Crawford-Nesbitt-Aubin

Two targets were identified in Crawford-Nesbitt-Aubin Township, consisting of two ultramafic items 6 km prolonged and 150-200 metres wide containing serpentinized peridotite, noteworthy of it was as soon as no longer assayed. Inco drilling in 1964-66 yielded highlights along side slim intervals of as a lot as 0.35% Ni which tested the edges of the geophysical goal. For reference, the Crawford Significant Zone resource is 1.7 km prolonged and 225-425 metres wide.

Acquire out about Identify 3 for results. Acquire out about under caution when it comes to Historical Info.

Nesbitt North

Two ultramafic items 3.7 km prolonged by 150-300 metres wide with critical nickel intersections were identified in Nesbitt township. Inco 1966 drilling highlights included 0.28% Ni over 163 m in ancient hole 27083. For reference, the Crawford Significant Zone resource is 1.7 km prolonged and 225-425 metres wide.

Acquire out about Identify 4 for results. Acquire out about under caution when it comes to Historical Info.

MacDiarmid

A goal of 3 km by 150-600 metres wide ultramafic intrusion with serpentinized peridotite has been identified, noteworthy of it was as soon as no longer assayed. Highlights encompass ancient hole 18127 which intersected 142 m of mineralized peridotite which was as soon as no longer assayed, and slim intervals of as a lot as 0.22% Ni over 1.5 m in NRK-65-7 (1965). For reference, the Crawford Significant Zone resource is 1.7 km prolonged and 225-425 metres wide.

Acquire out about Identify 5 for results. Acquire out about under caution when it comes to Historical Info.

Show: Property continues beyond draw boundary.

Mahaffy-Aubin

A goal of 8 km by 200-500 metres wide interpreted ultramafic intrusion has been identified, noteworthy of it was as soon as no longer assayed. Highlights encompass ancient hole 31901 (1966) which intersected 0.23% Ni over 127 m, and hole T2-80-2 (1980) which intersected 277 m of serpentinized ultramafic rock without a assays reported. For reference, the Crawford Significant Zone resource is 1.7 km prolonged and 225-425 metres wide.

Acquire out about Identify 6 for results. Acquire out about under caution when it comes to Historical Info.

Risk Terms:

As detailed in its March 4, 2020 and Can also 22, 2020 files releases, Canada Nickel obtained the Crawford Annex property and the plan in which to invent as a lot as an 80% curiosity in 5 additional nickel targets throughout the Project 81 land equipment.  The Crawford Annex comprises 4,909 hectares in Crawford and Lucas township and the 5 option areas (Crawford-Nesbitt-Aubin, Nesbitt North, Aubin-Mahaffy, Kingsmill-Aubin, and MacDiarmid) (“Risk Properties”) vary dimension-wise of 903 to five,543 hectares.  Acquire out about Identify 1 for a draw of property locations.

Canada Nickel has the plan in which to invent as a lot as an 80% curiosity in every of the Risk Properties on the next terms and prerequisites.

  1. Canada Nickel can first and major invent a 60% curiosity in every of the Risk Properties inside 2 years by:
    1. funding no longer no longer as a lot as $500,000 of exploration and construction expenditures on every option property
    2. paying all property maintenance charges for every option property, along side all appropriate mining land taxes
    3. making a rate to Noble of $250,000 in money or, at Noble’s election, Canada Nickel same earlier shares.
  2. Canada Nickel has the upright to then amplify their curiosity to 80% in every of the Risk Properties inside 3 years by funding an additional $1,000,000 of exploration and construction expenditures on every option property (for a whole of $1,500,000 per option property)

If the prerequisites to invent a 60% curiosity or 80% curiosity were elated, a joint endeavor would possibly well be fashioned on that basis and a 2% gain smelter return royalty (NSR) would possibly well be granted to Noble on the fragment of the property that are mining claims and for the time being enact no longer delight in any royalty on them.   (The final consequence would possibly well be a whole 2% NSR on every property.)

Cautionary Commentary Referring to Historical Info

The historical files referenced on this press free up relies totally on drilling results reported by Inco Ltd. and Noble Mineral Exploration Inc. A majority of the holes were drilled bigger than forty years ago, handiest tested the periphery of the goal buildings, and did no longer traverse whole width of the mineralized targets. This historical files has been filed with the Ontario Authorities and is on hand on-line though the Mining Lands Administration Machine (MLAS) internet say.

The firm believes this knowledge is expounded, as it was as soon as carried out by revered companies the exercise of drilling and sampling practices that were industry same earlier at the time. The firm or its “licensed person” (for the functions of National Instrument 43-101 – Standards of Disclosure for Mineral Initiatives) has reviewed the concepts to substantiate it has been accurately reproduced from the final public MLAS database, however given the firm’s and its licensed person’s lack of skill to entry the underlying files, the firm or its licensed person has no longer finished ample work to substantiate the historical files contained on this files free up.

Certified Person and Recordsdata Verification

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a “licensed person” as such time frame is outlined by National Instrument 43-101, has verified the concepts disclosed on this files free up, and has in every other case reviewed and accredited the technical files on this files free up on behalf of Canada Nickel Firm Inc.

About Canada Nickel Firm

Canada Nickel Firm Inc. is advancing the next technology of nickel-cobalt sulphide initiatives to carry nickel and cobalt required to feed the high thunder electric automobile and stainless metal markets.  Canada Nickel Firm has utilized in a pair of jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the advance of processes to allow the manufacturing of gain zero carbon nickel, cobalt, and iron products. Canada Nickel affords patrons with leverage to nickel and cobalt in low political probability jurisdictions. Canada Nickel is for the time being anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project within the heart of the prolific TimminsCochrane mining camp.

Cautionary Commentary Referring to Forward-Taking a seek for Statements

This press free up incorporates definite files that will constitute “forward-having a seek for files” under appropriate Canadian securities legislation. Forward having a seek for files comprises, however is no longer restricted to, drill results referring to to the Crawford Nickel-Cobalt Sulphide Project, the aptitude of the Crawford Nickel-Cobalt Sulphide Project, strategic plans, along side future exploration and construction results, and company and technical goals. Forward-having a seek for files is mainly based entirely upon a replace of assumptions that, while belief of inside your means, are self-discipline to known and unknown risks, uncertainties, and varied factors which can perhaps also reason the precise results and future occasions to fluctuate materially from these expressed or implied by such forward-having a seek for files. Factors that can perhaps also affect the pause consequence encompass, among others: future costs and the offer of metals, the prolonged run  seek files from for metals, the results of drilling, lack of skill to lift the money critical to incur the expenditures required to assist and advance the property, environmental liabilities (known and unknown), same earlier substitute, financial, competitive, political and social uncertainties, results of exploration functions, timing of the up-to-the-minute resource estimate, risks of the mining industry, delays in acquiring governmental approvals, and failure to carry out regulatory or shareholder approvals. There would possibly well moreover be no assurance that such files will disguise to be genuine, as precise results and future occasions would possibly well also fluctuate materially from these anticipated in such files. Accordingly, readers ought to collected no longer region undue reliance on forward-having a seek for files. All forward-having a seek for files contained on this press free up is given as of the date hereof and relies upon the opinions and estimates of management and files on hand to management as at the date hereof. Canada Nickel disclaims any plan or obligation to update or revise any forward-having a seek for files, whether or no longer as a results of original files, future occasions or in every other case, as antagonistic to as required by legislation.

SOURCE Canada Nickel Firm Inc.

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