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The latest update is out from Nican Ltd. ( (TSE:NICN) ).
NiCAN Limited has intersected nickel-bearing massive sulphides in its Phase I reconnaissance drilling program at the Pipy South Nickel Project near Thompson, Manitoba, marking a significant validation of the project’s geological model. Drill hole PIPY25-06 cut 1.45 metres of massive sulphides at shallow depth within the Pipe Formation, with downhole and surface electromagnetic surveys indicating a strong, open-ended conductive trend that can be traced for several kilometres across NiCAN’s claims. While assays are pending and some other holes did not encounter significant massive sulphides, historical drilling in the area and the strength of the geophysical response suggest meaningful potential to expand mineralization along strike. NiCAN plans follow-up drilling and an airborne electromagnetic survey to trace and enlarge the newly confirmed sulphide zone, potentially enhancing the project’s exploration upside and its strategic position within the Thompson Nickel Belt.
More about Nican Ltd.
NiCAN Limited is a Canadian mineral exploration company focused on nickel projects in the Thompson Nickel Belt of Manitoba. The company’s key assets include the Pipy South, Pipy North and Pipy West properties, where it targets nickel sulphide deposits within the Pipe Formation, a geological unit known to host all of the economic nickel mineralization in this prolific mining district near Vale’s long-producing Thompson Nickel Mine complex.
Average Trading Volume: 177,176
Technical Sentiment Signal: Buy
Current Market Cap: C$6.7M
See more insights into NICN stock on TipRanks’ Stock Analysis page.