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Nican Ltd. ( (TSE:NICN) ) just unveiled an announcement.
NiCAN Limited has identified a high-priority gold target on a recently acquired claim adjacent to its Pipy South Property near Thompson, Manitoba, after compiling historical drill data that shows a near-surface interval grading 1.20 g/t gold and 5.90 g/t silver over 47 metres, including a higher-grade section of 6.63 g/t gold and 10.13 g/t silver over 5.6 metres. Follow-up drilling by NiCAN indicates the mineralization is hosted in silicate facies iron formation with associated alteration halos, a style comparable to several well-known iron formation-hosted gold camps, and the company plans geophysical surveys and additional diamond drilling to delineate this new gold-bearing horizon, potentially broadening the Thompson Nickel Belt’s prospectivity beyond nickel and opening new opportunities for NiCAN and regional stakeholders.
More about Nican Ltd.
NiCAN Limited is a mineral exploration company focused on projects in the Thompson Nickel Belt of Manitoba, Canada, with an emphasis on discovering and advancing base and precious metal deposits near established mining infrastructure.
Average Trading Volume: 196,667
Technical Sentiment Signal: Buy
Current Market Cap: C$6.7M
For a thorough assessment of NICN stock, go to TipRanks’ Stock Analysis page.