Canada Nickel Announces 46% Increase in Measured & Indicated Resource at Reid Nickel Sulphide Project
Prnewswire·2026-01-12 11:45

Core Viewpoint - Canada Nickel Company has announced an updated mineral resource estimate for its Reid Nickel Sulphide Project, confirming it as one of the world's largest nickel sulphide deposits, with significant potential for further exploration and development [2][4]. Mineral Resource Estimate - The updated mineral resource estimate shows a 46% increase in Measured & Indicated resources to 2.1 million tonnes of contained nickel, and a 47% increase in Inferred resources to 3.2 million tonnes [5][6]. - The total mineral resources now include 0.04 billion tonnes Measured at 0.27% nickel, 0.87 billion tonnes Indicated at 0.23% nickel, and 1.45 billion tonnes Inferred at 0.22% nickel [6][12]. - The dimensions of the mineral resource are approximately 2.3 kilometers long, 1.1 kilometers wide, and extend to 720 meters deep, remaining open in multiple directions [7][12]. Exploration Potential - An additional exploration target of 0.5 to 1.4 billion tonnes at grades of 0.21% to 0.22% nickel is identified, pending further drilling [8][12]. - The exploration target is based on the geophysical signature and core drilling results, indicating a consistent geological setting [8][12]. Project Development - The Reid project is strategically located 16 kilometers southwest of the Crawford Nickel Sulphide Project and is more than twice its size based on geophysical targets [2][4]. - The company plans to continue drilling and sampling programs to upgrade the mineral resource and aims to produce a Preliminary Economic Assessment (PEA) in the future [17][19]. Technical and Operational Details - The mineral resource estimate was prepared by Caracle Creek International Consulting Inc. and follows CIM guidelines [10][20]. - The average stripping ratio is 1.19:1, with an average overburden thickness of 25.8 meters [11][12]. - The drilling campaigns were conducted in 2022, 2024, and 2025, with the 2025 campaign focused on infilling previous sections to enhance resource classification [9][19].