BASE METALS

Canada Nickel doubles Crawford resource

Canada Nickel Company says it believes that its 100% owned Crawford project in Ontario, Canada, now has the world’s fifth largest nickel sulphide resource following an updated mineral resource estimate.

 Canada Nickel Company's Crawford nickel project, Ontario

Canada Nickel Company's Crawford nickel project, Ontario

"Our overall Measured and Indicated resource has more than doubled, driven in large part by outstanding exploration success in our East Zone. In less than three years from initial discovery, we believe Crawford has quickly become the fifth largest nickel sulphide resource globally," Canada Nickel's chair and CEO Mark Selby said.

The total M&I resources now stand at 1.43 billion tonnes at 0.24% nickel and the Inferred resource was 0.67 billion tonnes at 0.23% nickel.

"The East Zone M&I resource increased by more than 14-fold to 701 million tonnes at 0.23% nickel and the Main Zone resource increased by 17% to 724 million tonnes at 0.25% nickel," the company said.

The update shows 3.48 million tonnes of contained nickel in M&I resources. The M&I resources also include 93.9 million tonnes of iron, 8.5 million tonnes of chromium, 183,000 tonnes of cobalt, and 1.06 million ounces of palladium and platinum.

"In less than three years from initial discovery, we believe Crawford has quickly become the fifth largest nickel sulphide resource globally," Selby said.

"With additional potential from a number of holes still pending assays at the resource cut-off date, we expect the final feasibility study resource to support the upper end of our mine plan target of 1.3 to 1.8 billion tonnes," he said.

He added that the feasibility study remains on track for completion by the end of the year.

The Crawford project is in the Timmins-Cochrane mining camp.

Canada Nickel's share price was C$1.52 (US$1.17) on July 6. The company has a market capitalization of C$171.43 million.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.