07:52 AM EST, 11/27/2024 (MT Newswires) -- Canada Nickel ( CNIKF ) said on Wednesday that it intersected a second "significant" interval of net textured sulfide on its Bannockburn property in Ontario.

The company reported a new net-textured sulphide interval of 9.2 meters within overall highly mineralized interval of 12.7 meters in hole BAN24-20.

Canada Nickel ( CNIKF ) said previous hole BAN24-18 intersected 12.0 meters of 1.61% nickel including 4.0 meters of 3.95% nickel.

"We are pleased that this second hole at Bannockburn F-Zone intersected a well-mineralized interval, which correlates with the geophysical target that had been identified in the prior borehole survey," CEO Mark Selby said. "We have multiple geophysical targets on our Bannockburn property and look forward to the follow-up borehole geophysics work and subsequent drilling as we unlock this higher grade potential opportunity."

Canada Nickel's ( CNIKF ) share price fell 3% on Tuesday to near 52-week lows of $0.95 on the TSX Venture Exchange.