The Nicobi Project is an ortho-magmatic Ni-Cu-Co-3PGE project located within a mafic-to-ultramafic intrusion of the Abitibi Subprovince. Historical exploration drilling until the early 1990s targeted and revealed disseminated to massive sulphide mineralization. Parts of the property underwent systematic drilling in the 1960s, during which previous operators defined a non-compliant resource. A scout drilling campaign in 1991 intersected 37.61 metres at 0.75% Cu and 0.89% Ni from the surface. This was collared with a 70.0 m step out from the initial discovery, tapping into and opening mineralization in the distal parts of the intrusion. Various geophysical surveys were completed over the property, including a high-quality gravity survey as well as a modern Airbourne Time Domain Electromagnetic (TDEM) survey executed in 2008.
The Company has commenced reprocessing of historic drilling and geophysical data in 3D software to develop a comprehensive geological model and provide a better understanding of the known mineralization. Modelling of TDEM may also identify previously unrecognized or overlooked conductive features which can be directly targeted with future drilling. This work is expected to quickly fast-track the project so that the Company can commence field work in early 2024. Initial field work will include drilling and downhole electromagnetic surveying (DHEM). The drilling will aim to confirm historic grades and drill intersects, along with starting to test the strike and depth extent of the mineralized intrusion.