05:23 PM EDT, 09/10/2024 (MT Newswires) -- Canada Nickel ( CNIKF ) after trade Tuesday said it received positive drilling results from exploration on seven of its nickel properties.

The company said results from 48 holes at its Reid, Mann (North, West, Central and South), Reaume, and Texmont properties showed nickel mineralization. It has 38 assays in hand from the drilling, with best results including 0.25% nickel over 402 meters at its Reid project and 226.7 meters containing 0.23% nickel at its Mann property.

"The district-scale potential of Canada Nickel's ( CNIKF ) portfolio in the Timmins Nickel District is clearly demonstrated by today's successful drilling results from seven different properties in addition to the two properties - Crawford and Deloro - for which we've already published resources. There are few mining companies with this breadth of active exploration targets," chief executive Mark Selby said.

Canada Nickel ( CNIKF ) shares closed down $0.02 to $1.02 on the TSX Venture Exchange.