Canada Nickel adds ninth resource in Timmins nickel district

Canada Nickel (TSXV: CNC) has announced mineral resource estimates (MRE) for its Nesbitt and Deloro projects near Timmins, Ontario. The stock fluctuated in early trading.

Highlights from the Nesbitt’s initial MRE include a total resource of 176 million tonnes of nickel-bearing rock, grading 0.23% nickel. Meanwhile, Deloro’s updated MRE showed a 46% resource increase.

The projects are located in the prolific Timmins nickel district. In total, the company’s projects in the area amount to 4.63 billion tonnes of 0.24% nickel in measured and indicated resources.

Crawford remains the company’s flagship project, with a measured and indicated resource of 2.56 billion tonnes grading 0.24% nickel. The deposit accounts for almost half of Canada Nickel’s district‑wide inventory and has been a major factor in recent share‑price swings. On July 21, Canada Nickel announced the project had entered the final stage of federal review.

Future potential

The company says the latest MREs reinforce the scale of its land package in the Timmins nickel district, with seven remaining targets still to be drilled. Nesbitt marks the ninth resource the company has published in the area.

“We have now clearly demonstrated the world-class potential of the Timmins nickel district with the completion of our ninth resource at Nesbitt. The expansion at Deloro shows the potential to continue to expand our existing resources beyond where they stand today,” Canada Nickel CEO Mark Selby said.