“We are excited by the potential for leveraging the understanding of the geology at Texmont and additional high-grade areas at Sothman and Bannockburn and applying these learnings to our large regional property package.”
Selby also said a number of investors have expressed interest in financing near-term production.
The Texmont property is located 36 km south of Timmins. It contains an ultramafic body with a target geophysical footprint of 1.2 km along strike and 150 metres side. The historic resource was 3.2 million tonnes grading 0.9% nickel in 1971, the start of production. The mine and a 500 t/d mill operated only to December 1972.
The original Texmont mine targeted narrow nickel mineralization in excess of 1.0%. Canada Nickel believes this high-grade material is contained within a larger bulk tonnage deposit that extends to the surface and would support an open pit.
The company has drilled four holes at the former mine,…
