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Nican Ltd. ( (TSE:NICN) ) just unveiled an announcement.
NiCAN Limited has confirmed high-grade nickel-bearing massive sulphides at its Pipy South Project in Manitoba, intersecting 1.54% nickel over 1.45 meters at shallow depth in its initial reconnaissance drilling. The discovery occurs within the Pipe Formation, which hosts all economic nickel mineralization in the Thompson Nickel Belt, and lies about 20 kilometers north of Vale’s long-producing Thompson Nickel Mine.
Follow-up downhole and surface geophysical surveys indicate a strong conductive anomaly that remains open along strike and up and down dip, suggesting potential to expand the known mineralization. NiCAN plans additional drilling and an airborne electromagnetic survey to trace and grow the nickel-bearing zone over a five-kilometer strike length, while also advancing a newly identified gold zone on the property, underscoring the project’s strategic exploration upside near established mining infrastructure.
More about Nican Ltd.
NiCAN Limited is a Canadian mineral exploration company focused on nickel and associated metals, with projects in the Thompson Nickel Belt in Manitoba. The company targets high-grade sulphide deposits near existing mining infrastructure, positioning itself to benefit from ongoing demand for battery and stainless-steel grade nickel.
Average Trading Volume: 224,110
Technical Sentiment Signal: Buy
Current Market Cap: C$5.58M
For a thorough assessment of NICN stock, go to TipRanks’ Stock Analysis page.