Impact: Positive
Canada Nickel announced drilling results from 12 holes (3,204m) at its Texmont Ni project south of Timmins, Ontario. Texmont operated briefly during the 1970s at 500 tpd and targeted primarily high-grade underground nickel mineralization. The results released include nine holes that encountered mineralization grading >1% Ni. Highlights include 0.5% Ni over 91.5m, including 1.22% Ni over 21.0m (22-03), and 0.8% Ni over 28.0m, including 1.5% Ni over 12.0m (22-06). In our view, these are positive results, confirming historic results within the higher-grade areas and, importantly, confirming broader intervals of lower-grade mineralization that start from near surface.
