Canada Nickel has published a first-ever mineral resource for its Reid nickel sulphide deposit, northwest of Timmins.
The company has high hopes that Reid will be twice the size of its flagship Crawford mine project, 16 kilometres away to the northeast.
And like Crawford, Reid is shaping to be another low grade, high tonnage deposit.
The indicated resources total 0.59 billion tonnes grading 0.24 per cent nickel, for a total of 1.4 million tonnes of contained nickel and inferred resources total 0.99 billion tonnes grading 0.23 per cent nickel, for a combined total of 2.2 million tonnes of contained nickel.
There’s also cobalt, iron, chromium, palladium and platinum in the mix.
In a Dec. 23 news release, the estimate covers 55 per cent of the total target area for Reid. The company believes the deposit has the potential to get bigger with between one to two billion tonnes still out to be drilled off.
Canada Nickel has a stable of other exploration properties in northeastern Ontario and expects to announce maiden resource estimates on five of them over the next few months.
"The size and scale of the Reid resource, which is significantly larger than the initial Crawford resource, validates our belief in the potential of the Timmins Nickel District,” said Mark Selby, company CEO, in a statement.
“Reid's target footprint is more than twice the size of our initial Crawford project and is only the second of seven new mineral resources we expect to announce by mid-2025. We look forward to continuing to demonstrate the potential of this world class district."
Reid will get more attention in 2025 with another round of drilling as the company has cut an all-season access road into the site.
