The Goodyear Tire(US:GT) Newsfileยท2024-09-24 13:29Core Viewpoint - GT Resources Inc. has announced promising initial diamond drill assay results from its 2024 exploration campaign at the Canalask Nickel-Copper Project, indicating significant nickel and precious metal mineralization [2][3]. Exploration Results - The drilling campaign involved five holes totaling 1,010 meters, with Hole CSK-24-02 intersecting 2.12% nickel over 19.9 meters, which is significantly higher than the historical Footwall Resource Estimate grade of 1.3% [2][3]. - The assay results also revealed 0.03% copper, 0.03% cobalt, 0.19 g/t gold, and 0.37 g/t palladium within the same interval [2][3]. - Notably, a high-grade interval of 4.45% nickel was found over 1.3 meters within the same hole [2][3]. Geological Insights - The drilling targeted the high-grade Footwall Zone, and the property size was expanded to capture potential down-dip extensions of known mineralization, with 11 new claims staked covering approximately 200 hectares [3]. - The presence of footwall-hosted nickel sulphide suggests a larger accumulation of nickel-sulphide may exist within the adjacent Kluane Ultramafic Feeder Dyke [3][17]. Challenges and Future Plans - Drilling in the ultramafic rocks encountered challenging ground conditions, necessitating different techniques for future drilling campaigns [4][12]. - The next drilling efforts will focus on tracing a physical connection between the Footwall Style mineralization and the prospective basal gabbro unit [13][17]. Historical Context - The historical resource estimate for the Canalask project is quoted at 400,000 tonnes at 1.35% nickel, with no copper reported, from a study conducted by Discovery Mines Ltd. in 1968 [5]. Company Overview - GT Resources Inc. is focused on discovering and producing critical Green Transportation Metals, including nickel, copper, palladium, platinum, and cobalt, with projects in Canada and Finland [21][22].