- Class 1 Nickel (NICO) is progressing with its phase 1 drill program at the Alexo-Dundonald Nickel Property
- Drilling intersected massive and net-textured sulphide mineralization at Alexo North and Alexo South
- Hand-held XRF analyses indicate the sulphide mineralization to be nickeliferous
- The phase 2 drilling program is fully funded and will commence in late summer 2021
- Class 1 Nickel is a mineral resource company focused on the development of its 100-per-cent owned Alexo-Dundonald Property
- Class 1 Nickel (NICO) is trading flat at $0.40 per share
Class 1 Nickel (NICO) is progressing with its phase 1 drill program at the Alexo-Dundonald Nickel Property.
Phase 1 drill program
The phase 1 program at Alexo North has focused on drill testing extensions to the west and a geophysically-generated target area to the northeast of the known mineralization.
The company intersected massive and net-textured sulphide mineralization in drill holes AN-21-04 and AN-21-10. Hand-held XRF analyses indicate the sulphide mineralization to be nickeliferous.
Review of the historical drill results for AN-21-04 to AN-21-10 revealed a sparsely drilled, northeast-striking mineralized trend that appears to be sinistrally offset from the main Alexo North Deposit. This mineralized trend coincides with an airborne geophysical feature of interest in Class 1’s 2020 VTEM survey, and remains open to expansion by drilling at depth and farther along strike to the northeast.
The phase 1 drill program at Alexo South intersected massive and net-textured sulphide mineralization. Hand-held XRF analyses also indicate the sulphide mineralization to be nickeliferous.
Phase 1 drilling continues at Alexo South and will begin imminently at Dundonald South and then Dundonald North.
Phase 2 drill program
Phase 2 drilling at Alexo North and South will focus on:
- Expanding the mineral resources by following up on drill intersections and BHEM-generated targets from phase 1 drilling
- Infill drilling to advance inferred mineral resources to indicated mineral resources
- Testing new priority geophysically-generated targets on the Alexo-Dundonald Property
Phase 2 is fully funded and will commence in late summer 2021.
The Alexo-Dundonald Property is an advanced portfolio of komatiite-hosted magmatic nickel-copper-cobalt sulphide deposits located 45 km northeast of Timmins, Ontario.
The indicated mineral resource stands at 1.25 million tonnes with an average grade of 0.99 per cent Ni. The total estimated inferred mineral resource stands at 2.01 million tonnes with an average grade of 1.01 per cent Ni.
Class 1 Nickel is a mineral resource company focused on the development of its 100-per-cent owned Alexo-Dundonald Property.
Class 1 Nickel (NICO) is trading flat at $0.40 per share as of 12:06 pm ET.
