Canada Nickel Company posts maiden resource for Crawford Project
Only days after its start of trading on the TSX-Venture Exchange, Canada Nickel Company posted the first resource calculation for its sole property in northeastern Ontario.
The Toronto base metal explorer claims its sitting on the 12th largest resource of nickel sulphide in the world. The company released a “maiden resource” of the higher grade core from its Crawford nickel-cobalt sulphide project, 40 kilometres north of Timmins, on Feb. 28.
Crawford contains a measured and indicated nickel resource of 600 million tonnes, grading 0.25 per cent nickel, with inferred resources of 310 million tonnes, grading 0.23 per cent.
A cut-off grade of 0.15 per cent nickel was used for the low-grade drill core and 0.25 per cent for the higher grade core. The calculation was based on 24 drill holes and more than 13,000 metres of drilling.
Canada Nickel is a project-specific spinoff of Noble Mineral Exploration, the focus being to bring the Crawford nickel sulphide project into production. There are two types of nickel deposits – laterites and sulphides – each have their pros and cons.