Canada Nickel (TSX.V: CNC) (OTCQX: CNIKF) has inked a deal to acquire a 100% interest in the Texmont property, which is located between the company’s Deloro and Sothman properties, south of Timmins, Ontario. The planned acquisition will provide potential for near-term, open-pit production from near-surface, high-grade mineralization at Texmont, as well as high-grade regional potential, which has already been demonstrated at Texmont, Sothman and Bannockburn. In addition, the company released an update with logging information from the first four holes in its ongoing drill program at Texmont. While noting that true widths are unknown at this point, the report indicated that the first three holes intersected mineralization immediately after overburden, confirming its continuation to surface. Higher sulphide mineralization was intersected as expected over intervals of 16–25 meters in all three holes within overall mineralized intervals of whole core lengths, and was found in outcrop. “The acquisition of the Texmont property provides near-term, smaller-scale production potential and is highly complementary to our large-scale Crawford and regional nickel sulphide projects,” said Canada Nickel Company chair and CEO Mark Selby in the press release. “We are excited by the potential for leveraging the understanding of the geology at Texmont and additional high-grade areas at Sothman and Bannockburn and applying these learnings to our large regional property package. In our discussions with nickel consumers for the battery market, many of them are keen to have new nickel production that could come to market by 2025. Similarly, a number of investors have expressed interest in financing near-term production.”
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About Canada Nickel Company
Canada Nickel 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 has applied in multiple jurisdictions to trademark the terms NetZero Nickel(TM), NetZero Cobalt(TM) and NetZero Iron(TM), and is also pursuing the development of processes to allow the production of net zero carbon nickel, cobalt and iron products. The company 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 about the company, visit www.CanadaNickel.com.
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