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Canada Nickel Announces Positive Exploration Results and Confirms New Discovery at Mann Township Properties

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TORONTO, Dec. 11, 2024

Highlights

  • Positive results continue at Mann West with 28 of 31 holes with intervals greater than 0.3% nickel including 0.52% nickel over 37.5 metres in MAN24-61 within 0.28% nickel over 356 metres
  • New discovery at Mann South with MAN24-81 delivering 0.24% nickel over 508 metres
  • Several holes with anomalous PGM horizons such as 0.82 g/t Pt+Pd over 18.6 metres and 0.77 g/t Pt+Pd over 24.5 metres in MAN24-100C at Mann South
  • Over 117,000 metres successfully drilled on 14 properties to date in 2024 as part of regional exploration program – on-track to deliver six additional resources in 2025

TORONTO, Dec. 11, 2024 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce additional successful results from its 2024 exploration program from three separate properties at Mann West, Mann Central, and Mann South.

As part of its ongoing regional exploration program, the Company has now successfully drilled over 117,000 metres on 14 properties, including the Mann properties, all located within 100 kilometres of Timmins, Ontario in the Timmins Nickel District.

Canada Nickel's CEO Mark Selby said, "Today we announce another set of excellent results from our 2024 regional exploration program from three separate targets as we continue to unlock the potential of the Timmins Nickel District. Today's results confirm the significance of the discovery of Mann West with strong mineralization across a strike length of 1.7 kilometres long by 0.6 kilometres wide, and remaining open in multiple direction. The Company also confirms a prospective new discovery at Mann South while providing further positive results at Mann Central. We look forward to publishing six additional resources, in addition to Crawford and Deloro, from now through the first half of 2025, clearly demonstrating the scale of the nickel sulphide potential of the Timmins Nickel District."

Mann Property

The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane and is 80% owned by Canada Nickel and 20% by Noble Mineral Exploration. The Company has completed a drill program on four separate targets within the property in 2024, Mann North, Mann West (together formerly Mann Northwest), Mann Central and Mann South. (Figure 1). This release provides an assay update from 31 holes, 16 holes at Mann West, 11 holes at Mann South, and four holes at Mann Central.

Mann West       

Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program completed focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled a total of 39 holes to date at Mann West (Figure 2), with 31 holes drilled during the 2024 program. With this drilling, the Company has completed the first phase of exploration that is required for an initial resource estimate, expected in the first quarter of 2025. Assays from 16 additional holes are presented in this release.

Figure 1 - Mann Properties (CNW Group/Canada Nickel Company Inc.)

Table 1 – Drilling highlights Mann Properties

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

Mann West

MAN24-42

9.0

345.2

336.2

0.24

0.012

0.004

0.007

0.20

6.40

0.068

and

371.7

402.0

30.3

0.19

0.010

0.003

0.005

0.38

6.82

0.053

MAN24-61

17.8

374.3

356.5

0.28

0.012

0.033

0.017

0.26

5.98

0.133

including

75.0

112.5

37.5

0.52

0.013

0.107

0.058

0.14

5.80

0.203

MAN24-70

18.0

501.0

483.0

0.24

0.011

0.007

0.008

0.27

6.12

0.067

including

144.0

172.5

28.5

0.29

0.011

0.007

0.007

0.14

5.52

0.076

MAN24-73

74.2

500.4

426.2

0.25

0.012

0.009

0.009

0.25

6.30

0.061

MAN24-74

7.9

278.5

270.6

0.19

0.014

0.027

0.016

0.40

7.40

0.057

including

25.5

31.5

6.0

0.31

0.013

0.028

0.013

0.82

6.67

0.125

and

318.0

402.0

84.0

0.24

0.013

0.003

0.005

0.16

7.45

0.026

MAN24-76

12.6

495.0

482.4

0.26

0.011

0.011

0.010

0.16

5.95

0.042

including

81.0

117.0

36.0

0.29

0.012

0.036

0.014

0.16

6.11

0.089

and

162.0

196.5

34.5

0.31

0.011

0.010

0.012

0.13

5.24

0.024

MAN24-78

19.4

402.0

382.6

0.24

0.013

0.012

0.010

0.38

6.54

0.053

including

261.0

294.0

33.0

0.30

0.013

0.031

0.021

0.52

6.67

0.100

including

274.5

282.0

7.5

0.41

0.015

0.057

0.027

0.72

6.95

0.178

MAN24-82

22.0

481.5

459.5

0.21

0.012

0.017

0.016

0.37

6.76

0.047

including

61.5

360.0

298.5

0.25

0.012

0.019

0.013

0.35

6.17

0.050

including

255.0

277.5

22.5

0.30

0.013

0.025

0.014

0.58

5.91

0.069

MAN24-83

6.0

403.0

397.0

0.21

0.013

0.016

0.011

0.58

7.43

0.087

including

144.0

195.9

51.9

0.27

0.014

0.030

0.024

0.68

7.87

0.064

and

305.5

336.0

30.5

0.27

0.013

0.019

0.009

0.60

6.30

0.080

MAN24-85

69.0

493.0

424.0

0.25

0.012

0.012

0.008

0.26

6.25

0.042

MAN24-86

14.2

462.0

447.8

0.23

0.012

0.006

0.006

0.41

6.33

0.027

MAN24-89

99.0

191.2

92.2

0.22

0.012

0.013

0.009

0.47

6.71

0.042

and

210.6

428.9

218.3

0.24

0.012

0.009

0.008

0.35

6.31

0.053

including

386.0

395.0

9.0

0.35

0.013

0.054

0.020

0.75

6.45

0.120

MAN24-92

27.4

426.9

399.5

0.25

0.012

0.016

0.008

0.39

6.27

0.046

including

267.0

286.5

19.5

0.34

0.015

0.083

0.034

0.66

6.57

0.114

and

324.0

349.5

25.5

0.30

0.012

0.037

0.015

0.57

6.29

0.125

and

433.6

501.0

67.4

0.20

0.013

0.013

0.021

0.50

7.35

0.047

MAN24-93

18.0

391.0

373.0

0.24

0.012

0.009

0.007

0.34

6.43

0.039

and

406.8

470.0

63.2

0.16

0.011

0.005

0.004

0.36

7.34

0.031

MAN24-94

102.0

501.0

399.0

0.24

0.012

0.012

0.009

0.39

6.50

0.039

including

400.5

415.5

15.0

0.30

0.011

0.044

0.021

0.57

6.57

0.083

MAN24-97

18.0

360.0

342.0

0.21

0.013

0.015

0.009

0.37

6.63

0.053

and

406.5

501.0

94.5

0.23

0.012

0.003

0.003

0.39

7.10

0.021

*True width undetermined. All lengths are drillhole lengths.

Figure 2 - Mann West (CNW Group/Canada Nickel Company Inc.)

Mann South

This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The Company's drill program at Mann South started in August 2024 consisting of 20 drillholes, all of which intersected serpentinized peridotite and dunite. Assay results for 11 drillholes are provided in this release with nine drillhole assay results still pending. Mineralogical analyses are underway to help identify and prioritize the best areas, although almost half of the strike length of the target remains untested (Figure 3).

Table 2 – Mann South drilling Highlights

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

Mann South

MAN24-66

39.0

139.5

100.5

0.23

0.013

0.003

0.003

0.29

8.03

0.070

and

187.5

402.0

214.5

0.18

0.013

0.003

0.004

0.43

6.61

0.019

MAN24-72

54.5

501.0

446.5

0.20

0.013

0.005

0.006

0.43

6.80

0.019

MAN24-75

16.9

420.0

403.1

0.24

0.010

0.018

0.006

0.30

7.92

0.051

MAN24-77

39.0

46.0

7.0

0.44

0.017

0.051

0.126

0.57

9.28

0.036

and

60.0

448.5

388.5

0.14

0.014

0.019

0.013

0.41

6.96

0.016

MAN24-81

44.3

552.0

507.7

0.24

0.011

0.003

0.003

0.38

7.55

0.056

MAN24-84

28.4

501.0

472.6

0.24

0.011

0.003

0.003

0.42

7.70

0.057

MAN24-90

49.3

501.0

451.7

0.23

0.012

0.004

0.005

0.37

6.33

0.015

MAN24-91

49.0

323.3

274.3

0.17

0.013

0.004

0.004

0.44

6.93

0.043

and

338.7

483.0

144.3

0.22

0.012

0.003

0.003

0.37

6.13

0.021

MAN24-99

51.3

402.0

350.7

0.17

0.013

0.004

0.012

0.46

6.60

0.011

MAN24-100C

21.0

112.4

91.4

0.16

0.014

0.036

0.096

0.37

7.46

0.010

and

131.0

172.0

41.0

0.22

0.012

0.010

0.010

0.61

5.69

0.031

and

340.5

378.4

37.9

0.19

0.013

0.005

0.003

0.56

6.52

0.027

MAN24-103

34.0

402.0

368

0.24

0.012

0.027

0.003

0.36

7.67

0.016

*True width undetermined. All lengths are drillhole lengths.

Figure 3 - Mann South (CNW Group/Canada Nickel Company Inc.)

Mann Central

The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes, 27 of which were drilled during the 2024 program. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for four drillholes (Table 3), all of which intersected peridotite.

Anomalous platinum group metals (PGM) consisting of platinum (Pt) and palladium (Pd) were identified in several holes, predominantly within pyroxenite units near the peridotite contacts on all properties (Table 4).

Table 3 – Mann Central drilling Highlights

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

Mann Central

MAN24-41

111.9

153.0

41.1

0.18

0.012

0.004

0.005

0.52

7.42

0.096

MAN24-48

75.0

402.0

327.0

0.21

0.011

0.005

0.006

0.29

6.58

0.084

including

148.5

157.5

9.0

0.35

0.015

0.019

0.008

0.14

8.73

0.199

MAN24-64

14.3

48.5

34.2

0.22

0.012

0.005

0.008

0.18

6.66

0.584

and

55.8

334.9

279.1

0.19

0.012

0.014

0.017

0.40

7.00

0.053

MAN24-68

366.0

406.0

40.0

0.24

0.012

0.003

0.006

0.15

8.77

0.028

*True width undetermined. All lengths are drillhole lengths.

Table 4 – Mann Properties PGM Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Pt+Pd

(g/t)

Pd

g/t)

Pt

(g/t)

Ni

(%)

Co

(%)

Cr

(%)

Fe

(%)

S

(%)

Mann West

MAN24-74

278.5

309.0

30.5

0.48

0.28

0.20

0.037

0.007

0.394

5.763

0.011

MAN24-82

481.5

501.0

19.5

0.52

0.28

0.24

0.024

0.007

0.324

5.919

0.014

MAN24-97

378.5

400.5

22

0.40

0.23

0.17

0.040

0.008

0.360

5.179

0.018

Mann South

MAN24-66

160.0

180.7

20.7

0.49

0.33

0.16

0.026

0.005

0.362

3.957

0.017

MAN24-72

44.0

54.5

10.5

0.37

0.12

0.24

0.037

0.009

0.313

5.849

0.011

MAN24-77

37.0

60.0

23

0.55

0.16

0.39

0.216

0.012

0.409

6.386

0.016

and

444.0

457.5

13.5

0.34

0.10

0.24

0.098

0.013

0.596

6.776

0.015

and

492.0

529.5

37.5

0.35

0.14

0.21

0.055

0.008

0.499

5.450

0.008

MAN24-100C

75.0

91.5

16.5

0.53

0.11

0.42

0.131

0.013

0.314

6.600

0.011

and

112.4

131.0

18.6

0.82

0.31

0.51

0.064

0.009

0.474

5.288

0.006

and

172.0

196.5

24.5

0.77

0.32

0.46

0.048

0.009

0.518

5.375

0.007

Mann Central

MAN24-64

334.9

351.5

16.6

0.52

0.33

0.19

0.043

0.008

0.371

5.291

0.019

Figure 4 - Mann Central (CNW Group/Canada Nickel Company Inc.)

Table 5: Drillhole Orientation

Hole ID

Easting (mE)

Northing (mN)

Azimuth (⁰)

Dip (⁰)

Length (m)

MANN WEST

MAN24-42

496024

5411983

35

-50

402

MAN24-61

496859

5412156

215

-50

402

MAN24-70

496492

5412296

215

-50

501

MAN24-73

496604

5412445

215

-50

500

MAN24-74

495656

5412189

215

-85

402

MAN24-76

496560

5412057

215

-50

495

MAN24-78

495969

5412226

215

-85

402

MAN24-82

495980

5412379

215

-50

501

MAN24-83

496980

5412318

215

-50

450

MAN24-85

496493

5412451

215

-50

493

MAN24-86

496442

5411894

215

-50

489

MAN24-89

496297

5412494

215

-50

495

MAN24-92

496177

5412332

215

-50

501

MAN24-93

496373

5412289

215

-50

471

MAN24-94

496098

5412537

215

-50

501

MAN24-97

495765

5412456

220

-50

501

MANN SOUTH

MAN24-66

503460

5408195

35

-50

402

MAN24-72

503650

5408420

35

-50

501

MAN24-75

502081

5405730

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