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TORONTO - Canada Nickel Company Inc. (TSXV:CNC) (OTCQX:CNIKF) announced positive results from its exploration drilling at the MacDiarmid property, located 23 kilometers southwest of its Crawford project in the Timmins-Cochrane mining camp. For detailed analysis of mining companies and their exploration results, InvestingPro offers comprehensive research reports and real-time metrics that help investors evaluate resource exploration companies.
The company’s drilling program identified mineralization extending over a strike length of approximately 2,200 meters and a width of about 400 meters, building on initial work completed in the eastern portion of the property in 2021.
Five holes testing the central region at MacDiarmid yielded significant results, including 0.25% nickel over 363 meters in hole MAC 25-09. Other notable intersections include 0.26% nickel over 198.2 meters and 0.25% nickel over 175.2 meters in hole MAC25-07.
The drilling intersected predominantly long sections of serpentinized dunite and minor peridotite with disseminated nickel sulphide mineralization, according to the company.
"Our regional exploration program continues to reinforce the strong potential of the Timmins Nickel District," said Mark Selby, CEO of Canada Nickel.
The company plans to resume drilling at its Midlothian property on July 14. That same week, Canada Nickel anticipates publishing initial resources for its Mann Central and Texmont properties, which would represent the company’s fourth and fifth resource estimates in the district. InvestingPro subscribers gain access to exclusive mining sector analysis and valuation tools, helping them track resource estimates and their potential impact on company valuations.
By year-end, the company expects to publish three additional resource estimates, bringing the total to nine including its flagship Crawford project.
The MacDiarmid property hosts an arcuate ultramafic body that measures at least 3 kilometers in length and up to 600 meters in width, covering 1.1 square kilometers.
The company has drilled a total of 12 holes at MacDiarmid, seven of which were completed during the 2025 campaign.
This information is based on a press release statement from the company. Stay ahead of market developments in the mining sector with InvestingPro, offering expert analysis and comprehensive research reports for over 1,400 stocks across various sectors.
In other recent news, Centene Corporation has withdrawn its 2025 financial guidance due to challenges in its Marketplace business and Medicaid sector. The company reported a significant $1.8 billion reduction in expected risk adjustment revenue transfers, impacting earnings per share by $2.75. Wolfe Research has noted these issues and reduced its earnings per share estimates for Centene to $3.00 for 2025 and $4.75 for 2026. Meanwhile, Truist Securities has maintained a Buy rating and an $84.00 price target on Centene, despite the guidance withdrawal, highlighting better-than-expected performance in Medicare Advantage and Prescription Drug Plan segments. Cantor Fitzgerald has lowered its price target for Centene to $65.00, reflecting reduced earnings estimates and anticipated Medicaid performance pressures. Jefferies also cut its price target to $47.00, citing significant Health Insurance Exchange risk adjustment issues. In contrast, TD Cowen reiterated a Buy rating on CVS Health, suggesting the company could benefit from challenges faced by Centene, with a more diversified revenue mix and plans to exit the Individual & Family Plan market in 2026.
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