NiCAN Limited (TSXV: NICN) has intersected multiple new zones of nickel–bearing mineralization to the east of the known high-grade nickel-copper (Ni–Cu) Wine Occurrence during its Phase II drill programme on the Wine Nickel Property in Manitoba, Canada.
These new zones of mineralization significantly expand the exploration target area.
Highlights:
- New nickel bearing mineralized zones identified within the Wine Gabbro.
- Initial interpretation suggests that these new mineralized zones may occupy a specific horizon within the central region of the Wine Gabbro. Geophysical anomalies (VTEM conductors) can be traced for several km to the northeast and southwest along this trend.
- Geophysical and geochemical surveys as well as diamond drilling are planned for the third quarter of 2023.
“We are very happy with the results of the Wine Phase II drill programme and the intersection of the new mineralized nickel bearing zones,” President, and CEO, Brad Humphrey, said.
“Importantly, these new occurrences of disseminated and massive sulphides suggest the Wine Gabbro hosts multiple mineralized pods like those seen in the Lynn Lake area. Interpretive work indicates that there are several horizons within the Wine Gabbro that require testing with geophysics, geochemistry, and subsequent diamond drilling.
“NiCAN remains in a strong position with a solid balance sheet and highly prospective nickel sulphide projects in established mining jurisdictions.”
Phase II Wine Drill Programme
The Phase II Wine drill programme had two primary objectives. The first objective was to test the high-grade Wine Occurrence to the north.
“We successfully achieved this first objective by expanding the high-grade mineralization as reported in the News Release dated May 24, 2023.
“The second objective was to identify additional nickel bearing mineralized zones within the Wine Gabbro. The programme not only successfully identified new mineralized zones for follow up exploration, but the results also indicate these new zones could be part of a specific horizon within the Wine Gabbro.
“This is significant, as there are multiple geophysical VTEM conductors along the interpreted strike of the mineralization that extends for km to the southwest and northeast.
“Downhole and ground geophysical surveys will be completed on the newly identified zones to assist in future diamond drill targeting.”
The targets drilled to date have intersected varying quantities of disseminated to massive pyrrhotite mineralization with noticeable amounts of chalcopyrite. The most noteworthy results have come from the area targeted by diamond drill holes Wine 23-7 and Wine 23-8, where varying degrees of pyrrhotite and chalcopyrite mineralization have been intersected in two relatively shallow zones. Assay results have returned anomalous copper and nickel values over core lengths of more than 10 m.
Several diamond drill holes established from the same drill pad as Wine 23-8 indicate the mineralization is likely dipping to the east and is interpreted to be associated with a northeast trending magnetic anomaly. Moreover, we have observed a broad range of anomalous Ni-Cu values to vertical depths of greater than 100 m.
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