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The latest update is out from Nican Ltd. ( (TSE:NICN) ).
NiCAN Limited has confirmed a new near-surface gold discovery at its Pipy South property near Thompson, Manitoba, with a key intercept of 27.6 metres grading 1.25 g/t gold and 12.5 g/t silver, including a higher-grade core of 14.3 metres at 2.14 g/t gold. A second hole returned 9.5 metres at 0.65 g/t gold, and pending assays from two additional holes suggest the zone, hosted in magnetic iron formation and silicified biotite gneiss, may extend further, drawing comparisons to major iron formation–hosted gold camps.
The discovery, made in an area previously drilled for gold in 2017, appears open in all directions and coincides with strong magnetic signatures, prompting NiCAN to launch a geophysical program and seek permits for more drill pads to expand drilling. With gold prices near record highs, the find diversifies NiCAN’s nickel-focused asset base, potentially enhancing its strategic position in the Thompson Nickel Belt and offering new upside for investors and regional stakeholders.
More about Nican Ltd.
NiCAN Limited is a Canadian mineral exploration company listed on the TSX-V, OTCQB and Frankfurt exchanges that is focused on projects in the Thompson Nickel Belt region of Manitoba. While historically centered on nickel targets, the company is expanding its exploration portfolio to include gold, leveraging the region’s iron formation–hosted gold potential and existing geophysical datasets.
Average Trading Volume: 213,453
Technical Sentiment Signal: Buy
Current Market Cap: C$5.58M
Find detailed analytics on NICN stock on TipRanks’ Stock Analysis page.