March 17, 2023 (Investorideas.com Newswire) These new information assist “our view that the corporate is defining a nickel camp” in Ontario, Canada, famous a Analysis Capital Corp. report.
Preliminary metallurgical outcomes are in for Canada Nickel Co. Inc.’s (CNC:TSX.V;CNIKF:OTCMKTS) Reid property northwest of Timmins, Ontario, and they’re “spectacular” and “very promising,” reported Analysis Capital Corp. analyst Adam Schatzker in a March 15 analysis word. In different information, the mining explorer’s acquisition of the Texmont property, south of Timmins, simply closed.
Additionally necessary for buyers, Canada Nickel presents the potential for vital returns. At present, with its inventory buying and selling at about CA$1.49 per share and Analysis Capital having a goal value on it of CA$3.25, the projected return is about 118%.
Methodology and Grades
For the metallurgical testing, a high-grade, well-serpentinized pattern was used, “which probably biases the outcomes to the upside,” famous Schatzker. The identical move sheet design used for testing materials from the Crawford venture was employed, and solely open-cycle assessments had been carried out. Crawford is Canada Nickel’s flagship venture, situated to the north of Timmins and to the northeast of Reid.
The Reid pattern returned these head grades: 0.35% nickel, 0.1% sulfur, and 6.2% iron, Schatzker relayed. When in comparison with drill outcomes, as no useful resource estimate exists but, the nickel grade appears greater than the common.
Recoveries: Reid v. Crawford
The latest testing confirmed that Reid’s metallurgy, as decided thus far, is just like that of Crawford, Schatzker concluded.
Particularly, steel recoveries from the Reid pattern had been 63% nickel, 0% cobalt, 31% iron, and 12% chrome. These evaluate to outcomes from Crawford of 62% nickel, 70% cobalt, 45% iron, and 21% chrome.
The nickel focus produced from the Reid pattern was “very excessive grade,” containing 46% nickel and 0.27% cobalt.
“[Canada Nickel] famous that greater than half of the nickel focus produced graded 60%, which is exceptionally excessive and was decided utilizing greater than 120 open cycle assessments,” Schatzker wrote.
In Crawford’s nickel focus, there was solely nickel at grades of 35% and 12%.
As for the iron focus, Reid’s contained 55% iron and three% chrome versus Crawford’s, exhibiting 54% iron and 4.5% chrome.
Extra Work To Be Carried out
Canada Nickel intends to substantiate these metallurgical outcomes on the Reid pattern utilizing locked cycle testing, Schatzker wrote.
Additionally, the corporate will probably check, sooner or later, completely different samples of mineralized materials from Reid as effectively to raised perceive the metallurgy of the complete deposit.
‘Defining a Nickel Camp’
Schatzker highlighted that Canada Nickel is proving Reid to be “a really giant deposit,” doubtlessly even greater than Crawford.
This “reinforces our view that [the company] is defining a nickel camp that will have sources to maintain many, many many years of nickel, iron, chrome, and cobalt manufacturing sooner or later,” the analyst wrote.
He added, “We expect it’s these traits that lately attracted Anglo American (market cap of US$45 billion) as a strategic 9.9% fairness holder of Canada Nickel.”
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