Canada Nickel says first metallurgical results from Texmont are encouraging

After drilling grades above 2% nickel at the Texmont project, Canada Nickel Company (TSXV:CNC; OTC:CNIKF) says the first metallurgical testing of samples yielded excellent results. Recoveries of nickel were between 79% and 84%, and recoveries of cobalt were between 77% and 83%. Final concentrate grades were between 18% and 28% nickel with 0.7% cobalt.

The samples were selected to represent the moderate-grade zone of the deposit and ground to 100 microns. Head grades ranged from 0.67% to 1.52% nickel. A simple open circuit was tested with no need for desliming. The final concentrate grade is considered high-grade for material with pentlandite-style mineralization.

Further tests are planned, including locked cycle and metallurgical variability tests, after which a flowsheet can be designed. The Texmont preliminary economic assessment is due by the end of this year.

Given the success of Texmont, Canada Nickel capitalized on the opportunity to acquire regional claims. The company consolidated 9,520 hectares of claims along 20 km of property with potential to find more Texmont-style deposits.

In December 2022, the company acquired the Texmont past producing mine, which contains a large ultramafic orebody, located about 36 km south of Timmins, Ont.  Through analysis of historic drill data and supported by new drilling, Canada Nickel has identified a near surface, high grade zone of >1% nickel wrapped within a moderate-high-grade zone of 0.6 to 1.0% nickel. The company is evaluating the potential for near term production from Texmont through open pit mining of this moderate-high-grade material.

More information is posted in the corporate presentation on www.CanadaNickel.com.