Nickel North Exploration (NNX.V) is a junior explorer focused on defining a Copper-Nickel-Platinum Group Metals (Cu-Ni-PGM) resource at their Hawk Ridge Project in Northern Quebec. All of these metals will have high demand as they are green metals.
The Hawk Ridge Property, with an option to earn 100% control, is a 50 km belt of Cu-Ni-PGM deposits over 18,000 hectares in size and is located on tidewater. Over 23,000 meters of drilling to date has defined four zones of known mineralization.
Nickel North today announced the assay results of 2022 rock samples and announced the discovery of high-grade Ni-Cu-PGM sulfide mineralization at four previously delineated targets of the Hawk Ridge Nickel-Copper-Cobalt and PGE (Platinum Group Elements) Project.
A total of 57 rock samples were collected during the 2022 summer program. Here are the highlights of assay results from the project:
- At the Falco 7 zone, rock samples confirmed an undrilled, large area of the medium grade massive-disseminated Ni-Cu-Co-PGE sulfide mineralization to the southwest area of previously drilled Falco 7 zone.
- At the Hope Advance Zone, a 500m long and 5 to 20m wide high-grade massive sulfide Ni-Cu-Co-PGE mineralization was confirmed by the outcrop rock samples of S786360 and S786361 which shows the Ni up to 1.85%, Cu up to 1.72%, Co up to 0.13% and Pd up to 1.16 g/t. Medium-grade Ni-Cu sulfide mineralization zone up to 1000m long and 50 m wide along the structure.
- At the Gamma Zone, 2-meters backpack drilling holes from GABH-22-01 and GABH-22-02 were reported at 3.12% Ni, 4.63% Cu, 0.14% Co and 0.88 g/t Pd and 0.35% Ni, 0.92% Cu. The surface outcrop rock samples were reported up to 2.51% Ni, 4.89% Cu and 0.16% Co and 1.02 g/t Pd.
- At the Pio Zone, the only historical mined area in the Hawk Ridge project, the outcrop samples confirm the mineralization zone could be extended to both south and north direction along the structure. The Ni and Cu grades are up to 0.76% and 5.37%.
Tony Guo, President and CEO of the Company, commented, “2022 rock and backpack drilling program confirm the exploration model that the high-grade sulfide body was lens-like in form in all four zones. Nickel North now is setting out to drill/test the scope and scale of these multiple high-grade “Raglan Type” Ni-Cu sulfide targets such as Gamma Zone and HAN Zone in 2023 while continuing to advance the other targets on its ~179km2, 50km long, 100% owned property in Northern Quebec.”
Follow up drilling will be the major catalyst in 2023.
Nickel North Exploration is up 120% on the news with over 9.1 million shares traded.
From a technical perspective, the stock has not only bounced at major support, but also will confirm a breakout of a downtrend line if the price action remains strong until the end of the trading day. Both are bullish indicators, and indicate a new uptrend.
A major resistance zone, which has held since 2015, is about to be tested with this momentum. The $0.07 is significant resistance for the stock as you can see from the chart above. Bulls should get really excited if Nickel North Exploration can confirm a close above this zone. It would set up a move then to $0.125 and then previous all time record highs.