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Canadian North Resources Completes 18,144 meters drilling at Ferguson Lake Nickel, Copper, Cobalt, Palladium and Platinum Project in Canada
TORONTO, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Canadian North Resources Inc. (“the Company”, TSXV: CNRI; FSE:EO0 (E-O-zero)) is pleased to report that the Company h
About this update from Canadian North Resources, Inc.
[{"type":"text","content":" TORONTO, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Canadian North Resources Inc. (“the Company”, TSXV: CNRI; FSE:EO0 (E-O-zero)) is pleased to report that the Company has completed 18,144 meters of diamond drilling at its 100% owned Ferguson Lake property (“Ferguson Lake Project”) that contains base metals (nickel, copper, and cobalt) and platinum-group metals (“PGM”, mainly palladium and platinum). “We have drilled more than the planned drilling program to have significantly expanded the mineralization zones along the 15-km mineralized horizon,” said Dr. Kaihui Yang, the President and CEO of the Company. “We expect the results would expand the block model and significantly enlarge the high-grade and near surface mineral resources for the potential mine development of the Ferguson Lake Project.” The planned drilling program consists of 15,000 meters in some 60 holes to focus on the expansion and upgrade of mineral resources along the West and East Zones of the main mineralized horizon (rf. News release on April 19, 2022). By the end of the summer drilling season ended in mid October, a total of 18,144 meters were drilled in 68 holes to infill or step out from the historic holes that were previously drilled in the West Zone and the East Zone. The completed drilling program was enlarged by 3,144 meters as the mineralization zones were confirmed to extend along strike and at depth beyond the presently defined resource boundaries. The assay results of the first 28 holes totaling 7,594 meters confirmed two styles of mineralization: nickel-copper-PGM massive sulfides (up to 31 meters) and PGM-enriched low sulfide (up to 36 meters) bodies in the West and East Zones with the highlights of selected holes below (rf. News release on September 12, 2022): 31.0m at1.28% Cu, 0.81% Ni, 0.09% Co, 2.02g/t Pd and 0.29g/t Pt (hole FL22-442 at 55 to 86m); 28.45m at 0.80% Cu, 0.52% Ni, 0.06% Co, 1.38g/t Pd and 0.19g/t Pt (hole FL22-443 at 30-55m) and16.0m at 0.28% Cu, 0.22% Ni, 0.03% Co, 0.69g/t Pd and 0.13g/t Pt (at 86-102m); 10m at 1.72% Cu, 0.81% Ni, 0.07% Co, 2.07g/t Pd and 0.23g/t Pt (hole FL21-436 at 123-133m); 7.40m at 1.15% Cu, 0.64% Ni, 0.08% Co, 1.70g/t Pd and 0.24g/t Pt (hole FL21-435 at 94-100.4m) and11.52m at 0.56% Cu, 0.48% Ni, 0.06% Co, 1.01g/t Pd and 0.22g/t Pt (at 72.6-84.12m); 12.35m at 0.99% Cu, 0.54% Ni, 0.09% Co, 1.11g/t Pd and 0.15g/t ...