Ferguson Lake Project Source: Canadian North Resources Inc
  • Canadian North Resources (TSXV:CNRI) has completed its 20,000-metre drill program at the Ferguson Lake Project in Nunavut
  • In total, the company has drilled 21,126 metres during the year
  • Roughly 69 out of 78 holes intersected semi-massive to massive sulphides with nickel, copper, cobalt, palladium and platinum
  • Shares of Canadian North Resources are unchanged at C$2.99

Canadian North Resources (TSXV:CNRI) kicked off the week by announcing it has completed its 20,000-metre drill program at the Ferguson Lake Project in Nunavut.

In a news release, the Toronto-based company said 69 out of 78 holes intersected semi-massive to massive sulphides with nickel, copper, cobalt, palladium and platinum.

To date this year, Canadian North Resources has drilled 21,126 metres.

“The drill program intersected semi-massive to massive sulphides of the main or satellite mineralized horizons in 69 out of the 78 holes, and in particular drilling intersected a widening of the prospective host gabbro to hundreds of metres thickness carrying disseminated, semi-massive and massive sulphides in the west extension of the West Zone,” Trevor Boyd, vice president of exploration at Canadian North Resources, said in a statement. “The exploration program visually confirmed significant extensions of the sulphide zones along the 15-kilometre long main mineralized horizon as well as the prospectivity of satellite horizons.“

The company said the 20,000-metre diamond drill program focused on definition drilling of the East and West Zones and to test extension for the main and satellite mineralized horizons.

Over the course of 2023, Canadian North Resources has conducted reprocessing and modelling of historic geophysical electromagnetic UTEM, VTEM, and borehole TDEM survey data. The company said this assisted with drill targeting during the summer program. It also completed new borehole TDEM surveys on select deep drill holes.

Canadian North Resources is focused on exploring and developing critical metals for the clean-energy, electric vehicles, battery and high-tech industries.

The company is advancing its 100 per cent owned Ferguson Lake nickel, copper, cobalt, palladium and platinum project in the Kivalliq Region of Nunavut.

Shares of Canadian North Resources are unchanged at C$2.99.

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