- Canadian North Resources Inc. (TSXV:CNRI) reported on Wednesday (July 13) that it had filed its NI 43-101 technical report for its Ferguson Lake Project
- The company also announced it had completed a 7,400-meter drilling and staking of a large exploration area surrounding the mining leases of the project
- Mineral resources also include a newly interpreted zone of low sulphide PGM style of minrealization characterized by weakly disseminated sulphide
- Shares of Canada North Resources are down 7.41 per cent to C$2.50 as of 12:21 p.m. EDT on Wednesday
Canadian North Resources (CNRI) has filed its NI 43-101 technical report for its Ferguson Lake Property in Nunavut.
“The results show high potential value of the mineral resources for development. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 kilometers long mineralized belt. We are currently drilling to expand the potential high-grade large-tonnage economic base metal and PGM resource on the Project,” Dr. Kaihui Yang, president and CEO of Canadian North, said in a press release.
The company also announced it had completed 7,400 meters of drilling and staking of a large exploration area surrounding the mining leases of the project.
Highlights:
- High-grade Open Pit Indicated Mineral Resources of 22.4 million tonnes with the NSR value of US$255 per tonne, at the grades of 0.84% copper, 0.60% nickel, 0.07% cobalt, 1.37gpt palladium and 0.23gpt platinum,.
- Total Indicated Mineral Resources of 24.3 million tonnes with the NSR value of US$257 per tonne, containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt;.
- Total Inferred Mineral Resources of 47.2 million tonnes with the NSR value of US$244 per tonne, containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt
Toronto, Ontario-based Canadian Nickel Resources is an exploration and development company that is focused on metals for clean energy, electric vehicles, battery and high-tech industries.
The company is primarily focused on its 100 per cent owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project in Nunavut.
Shares of Canada North Resources are down 7.41 per cent to C$2.50 as of 12:21 p.m. EDT on Wednesday.