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Nican Ltd. ( (TSE:NICN) ) has shared an update.
NiCAN Limited reported additional assay results from its new near-surface gold discovery on the Pipy South property near Thompson, Manitoba, with one hole intersecting 19.45 meters averaging 1.0 grams per tonne gold and 12.2 grams per tonne silver. The mineralization is hosted in silicate facies iron formation and silicified biotite gneiss, featuring disseminated sulfides and galena, and is interpreted to remain open in all directions.
The latest drilling, including holes PIPY25-07 and PIPY25-08, confirms and extends historical intercepts and suggests a broad, highly silicified, structurally continuous zone that correlates with magnetic anomalies across the property. NiCAN has secured additional work permits, initiated and contracted further geophysical surveys, and is planning follow-up diamond drilling, positioning the discovery as a potentially significant addition to its exploration portfolio amid strong gold prices.
More about Nican Ltd.
NiCAN Limited is a Canadian mineral exploration company focused on projects in the Thompson Nickel Belt region of Manitoba. While historically centered on nickel targets, the company is expanding its portfolio with gold exploration, aiming to leverage high precious metal prices and the region’s established mining infrastructure to enhance asset value and attract investor interest.
Average Trading Volume: 224,110
Technical Sentiment Signal: Buy
Current Market Cap: C$5.58M
See more insights into NICN stock on TipRanks’ Stock Analysis page.