Canadian North Resources Inc. to expand nickel and PGM exploration at Ferguson Lake Project in Canada

Canadian North Resources Inc. (CNRI), which specializes in metals used in green energy, electric vehicles, batteries and other high-tech industries, announced its intention to expand exploration activities at its Canadian nickel, copper, cobalt, palladium and platinum project in the area adjacent to Lake Ferguson in the Kivallik Region of Nunavut.
Mining Weekly reported this noting that the work will include a resource estimation, a 15 000 m diamond drilling program, in-hole geophysical survey, surface geological mapping and geophysical survey, and metallurgical testing.
CNRI's Ferguson Lake project has great potential and is comparable to Chalice Mining's Julimar project in Australia, which has similar minerals. Chalice Mining is valued at US$1.662 billion.
“Based upon publicly available information to date, there are clear similarities in geological setting, host rocks and styles and types of mineralization between the Ferguson Lake Project and the recently discovered Chalice Mining Julimar Project located in Western Australia,” an investor presentation noted.
The Ferguson Lake Project has the potential for high-value PGM orebodies with vast exploration potential, Mining Weekly said adding that the area also has a lot of water that can be used for mining and exploration purposes.
CNRI intends to expand the BM and PGM resource by diamond-drilling exploration for high-grade sulphide zones and low-sulfide PGM-enriched targets along the mineralization belt, to remodel the resource estimates, to expand metallurgical testing, to update the technical report very shortly, and to advance the project to feasibility studies. The company wants to complete these work plans during 2022-2023, with expectations for dedicated definition drilling, environmental studies plus metallurgical testing and development activities into 2024 and beyond.