Canada Nickel is packing some money into the drill bit for its next wave of nickel projects in the Timmins area.
The Toronto owner of the Crawford nickel mine project announced it's raised $4 million in flow-through shares for exploration in 2025 for its projects in the development pipeline.
Flow-through shares are a financing tool used by junior mining outfits to raise capital to develop resource assets.
Canada Nickel's flagship is its $2-billion Crawford project, 40 kilometres northeast of the city, which is shaping up to be a future open-pit nickel mine with a 41-year mine life.
The company has published mineral resource estimates for its next two deposits in Deloro and Reid. CEO Mark Selby is declaring they expect to have published estimates for eight of its properties in the Timmins area and across northeastern Ontario by the middle of 2025.
"After a highly successful exploration program in 2024,” said Selby in a Dec. 30 statement, “this financing allows us to continue to build on this success through the first half of 2025 as we continue to demonstrate the potential of the Timmins Nickel District, including upgrading the initial mineral resources we have published for both Reid and Deloro and building on this year's high grade discovery at Bannockburn.”
