Canada Nickel Discovers New Large-Scale Nickel Deposit

The Northern Miner (Canada), July 16 – Canada Nickel Company recently released an updated resource estimate, reporting a new addition of 275 million tonnes of measured and indicated resources at its Timmins-area deposits in Ontario. Notably, the Texmont deposit boasts a high-grade nickel content of 0.29%, significantly surpassing other regional projects.

The announcement shows that the Mann Central Mining Area has 236.7 million tons of indicated resources (with a nickel grade of 0.22%, containing 520,000 tons of nickel) and 543.2 million tons of inferred resources (with a nickel grade of 0.21%, containing 1.15 million tons of nickel). The mining area is located 23 kilometers east of the flagship project, Crawford. The Texmont deposit contains 37.9 million tons of measured and indicated resources (with a nickel grade of 0.29%, containing 109,000 tons of nickel) and 57.7 million tons of inferred resources (with a nickel grade of 0.25%, containing 143,900 tons of nickel).

The company's CEO, Mark Selby, revealed that the total nickel content of the new discovery could rival the historically renowned Sudbury Nickel Belt. According to a 2010 report by the U.S. Geological Survey, the Sudbury region originally contained approximately 19 million tons of nickel resources, nearly half of which had already been mined by the 20th century.  

"Timmins is the only major new source of nickel discovered globally in recent years, with a scale significant enough to attract mining giants like BHP and Rio Tinto," Selby said. He added that the company plans to complete resource assessments for three additional deposits by the end of the year, bringing the total number of assessed projects to nine.