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Canadian North Resources confirms high-grade nickel-copper massive sulfides and high-grade palladium-platinum low-sulfide mineralization zones at Ferguson Lake Project
8.25 meter with 0.86% nickel, 1.27% copper, 1.57g/t palladium and 0.20g/t platinum in drill hole FL04-188; 6.80 meter with 13.12g/t palladium and 8.04g/t platin
About this update from Canadian North Resources, Inc.
[{"type":"text","content":" 8.25 meter with 0.86% nickel, 1.27% copper, 1.57g/t palladium and 0.20g/t platinum in drill hole FL04-188; 6.80 meter with 13.12g/t palladium and 8.04g/t platinum in drill hole FL07-363; 39.0 meter with 2.22g/t palladium and 0.39g/t platinum in drill hole FL07-361 TORONTO, May 16, 2022 (GLOBE NEWSWIRE) -- Canadian North Resources Inc. (“the Company”, TSXV: CNRI) is pleased to report the results for the re-sampling and re-assaying of historic drill cores and assaying of core samples newly collected from the Ferguson Lake property (“Ferguson Lake Project”) that contains base metals (nickel, copper, and cobalt) and platinum-group metals (“PGM”, mainly palladium and platinum). The re-sampling and re-assaying program are part of the on-going resource evaluation and estimation for the Ferguson Lake Project (ref. the News Release on April 11). A total of 790 samples were collected from 29 historic holes that tested the massive sulfides and low-sulfide high-PGM mineralization bodies over the West and East zones along the 15-km long main mineralized horizon on the property. Of those samples, 527 were obtained from the half cores remaining of the previously sampled intervals of the historic drill holes. The new assay results for these samples reasonably agree with the historic assay results in the database. In addition, 263 samples were collected from intervals of the historic drillholes that have visible sulfides but have never been sampled. The assay results for some of these samples also indicate the presence of significant base metal and PGM mineralization over significant widths (see holes FL07-379 and FL04-188 in the Chart below). “The re-sampling program has confirmed the presence of high-grade copper-nickel massive sulfides and wide intersects of low-sulfide high-PGM mineralization,” said Dr. Kaihui Yang, the President and CEO of the Company. “The re-assay results of the newly re-collected core samples support the verification of the drillhole database of the Ferguson Lake Project for the resource estimation program. This evaluation generates confidence in the potential high-grade and large tonnage of nickel, copper, cobalt, palladium and platinum at the Ferguson Lake Project.” The new assay results of drill cores re-sampled from selected historic holes are summarized below: Chart 1: high-grade copper-nickel massive sulfides inte...