Impact: Positive
Canada Nickel announced the final set of assays from its initial drill program completed at its Mann Ni project (option to earn up to an 80% interest). Drilling targeted the Mann Central and Mann Northwest targets. All six holes completed at Mann Central intersected strongly serpentinized peridotite-dunite with visible nickel sulphides, delineating mineralization over a 2.5km x 600m area. Eight of the nine holes completed at Mann Northwest also encountered mineralization, and the latest reported three holes extended mineralization over a 2.7km x 500m area. PGM mineralization was also encountered at both targets. The combined geophysical trend of the five targets at Mann now exceeds 25km in strike length, and CNC plans to test the Mann Southwest target in the upcoming summer 2024 drill program. Overall, we view these as a positive set of results that confirm mineralization at Mann Central. Each of the five targets at the Mann project now has a footprint larger than Crawford, which hosts the world’s second-largest nickel resource. While grades are lower than Crawford’s, we believe the size potential and proximity to Timmins nickel camp could transform Mann into a highly valuable secondary asset for Canada Nickel.
