Core Nickel Concludes Winter Drill Program on its 100% Owned Halfway Lake Project
Core Nickel Corp (CSE: CNCO) has completed its winter 2025 drill program at the Halfway Lake Project in Manitoba's Thompson Nickel Belt. The program comprised 12 diamond drillholes totaling 3,585.5 metres to test high-priority targets identified from the 2024 VTEM survey.
Key discoveries include a new near-surface pyrrhotite-rich massive sulphide zone along trend HL-04, which remains open along strike and at depth. Drillhole HFW-25-007 intersected a 35-centimetre massive sulphide breccia at 44.2m depth, followed by additional sulphide zones.
The company also identified a new zone with Pipe Formation stratigraphy in the southern portion of the property, showing structural and geological features similar to the Thompson deposit. The project is strategically located near key infrastructure including the Bucko Mill, rail, highways, and clean hydro-electric power. Assay results are currently pending.
Core Nickel Corp (CSE: CNCO) ha completato il programma di perforazione invernale 2025 presso il progetto Halfway Lake nella Thompson Nickel Belt del Manitoba. Il programma ha previsto 12 perforazioni diamantate per un totale di 3.585,5 metri per testare obiettivi prioritari individuati dal sondaggio VTEM 2024.
Le scoperte principali includono una nuova zona di solfuri massicci ricca di pirrotite vicino alla superficie lungo la direttrice HL-04, che rimane aperta sia in estensione che in profondità. Il foro HFW-25-007 ha intercettato una breccia di solfuri massicci di 35 centimetri a 44,2 metri di profondità, seguita da ulteriori zone solfuree.
L'azienda ha inoltre individuato una nuova zona con stratigrafia della Formazione Pipe nella parte meridionale della proprietà, con caratteristiche strutturali e geologiche simili al giacimento Thompson. Il progetto è strategicamente posizionato vicino a infrastrutture chiave, tra cui il Bucko Mill, ferrovie, autostrade e energia idroelettrica pulita. I risultati delle analisi sono attualmente in attesa di pubblicazione.
Core Nickel Corp (CSE: CNCO) ha finalizado su programa de perforación invernal 2025 en el proyecto Halfway Lake, ubicado en la Thompson Nickel Belt de Manitoba. El programa consistió en 12 perforaciones diamantinas que suman un total de 3,585.5 metros para evaluar objetivos prioritarios identificados en la encuesta VTEM de 2024.
Los descubrimientos clave incluyen una nueva zona de sulfuros masivos rica en pirrotita cerca de la superficie a lo largo de la tendencia HL-04, que permanece abierta tanto lateralmente como en profundidad. El pozo HFW-25-007 intersectó una brecha de sulfuros masivos de 35 centímetros a 44.2 metros de profundidad, seguida de otras zonas de sulfuros.
La compañía también identificó una nueva zona con estratigrafía de la Formación Pipe en la parte sur de la propiedad, mostrando características estructurales y geológicas similares al depósito Thompson. El proyecto está estratégicamente ubicado cerca de infraestructura clave, incluyendo el molino Bucko, ferrocarriles, carreteras y energía hidroeléctrica limpia. Los resultados de los análisis están pendientes.
Core Nickel Corp (CSE: CNCO)는 매니토바 주 톰슨 니켈 벨트의 Halfway Lake 프로젝트에서 2025년 겨울 시추 프로그램을 완료했습니다. 이 프로그램은 2024년 VTEM 조사에서 확인된 우선순위 높은 목표를 시험하기 위해 총 3,585.5미터에 달하는 12개의 다이아몬드 시추공으로 구성되었습니다.
주요 발견 사항으로는 HL-04 추세를 따라 지표 가까이에 위치한 황철석이 풍부한 새로운 대규모 황화광물대가 있으며, 이 구간은 연장 및 심도 방향으로 열려 있습니다. 시추공 HFW-25-007에서는 44.2m 깊이에서 35cm 두께의 대규모 황화광물 브레시아가 확인되었고, 그 뒤를 이어 추가적인 황화광물대가 발견되었습니다.
또한 회사는 부지 남부 지역에서 Thompson 광상과 유사한 구조적 및 지질학적 특성을 지닌 Pipe Formation 층서학을 가진 새로운 구역을 확인했습니다. 이 프로젝트는 Bucko 밀, 철도, 고속도로, 청정 수력 전력 등 주요 인프라와 인접해 전략적으로 위치해 있습니다. 분석 결과는 현재 대기 중입니다.
Core Nickel Corp (CSE : CNCO) a achevé son programme de forage hivernal 2025 sur le projet Halfway Lake, situé dans la ceinture de nickel de Thompson au Manitoba. Le programme comprenait 12 trous de forage diamantés totalisant 3 585,5 mètres afin de tester des cibles prioritaires identifiées lors de l’enquête VTEM 2024.
Les découvertes clés incluent une nouvelle zone de sulfures massifs riche en pyrrhotite près de la surface le long de la tendance HL-04, qui reste ouverte en extension et en profondeur. Le forage HFW-25-007 a intercepté une brèche de sulfures massifs de 35 centimètres à 44,2 m de profondeur, suivie d’autres zones de sulfures.
La société a également identifié une nouvelle zone avec une stratigraphie de la Formation Pipe dans la partie sud de la propriété, présentant des caractéristiques structurelles et géologiques similaires au gisement de Thompson. Le projet est stratégiquement situé à proximité d’infrastructures clés, notamment le moulin Bucko, des voies ferrées, des autoroutes et une énergie hydroélectrique propre. Les résultats des analyses sont actuellement en attente.
Core Nickel Corp (CSE: CNCO) hat sein Winterbohrprogramm 2025 beim Halfway Lake Projekt im Thompson Nickel Belt von Manitoba abgeschlossen. Das Programm umfasste 12 Diamantbohrlöcher mit insgesamt 3.585,5 Metern, um hochprioritäre Ziele zu testen, die aus der VTEM-Untersuchung 2024 identifiziert wurden.
Wesentliche Entdeckungen beinhalten eine neue, pyrrhotitreiche massive Sulfidzone nahe der Oberfläche entlang des Trends HL-04, die sowohl streichend als auch in der Tiefe offen bleibt. Das Bohrloch HFW-25-007 schnitt in 44,2 m Tiefe eine 35 Zentimeter dicke massive Sulfid-Brekzie an, gefolgt von weiteren Sulfidzonen.
Das Unternehmen identifizierte zudem eine neue Zone mit Pipe-Formation-Stratigraphie im südlichen Bereich des Grundstücks, die strukturelle und geologische Merkmale ähnlich dem Thompson-Lagerstätte aufweist. Das Projekt liegt strategisch in der Nähe wichtiger Infrastruktur wie der Bucko-Mühle, Bahnlinien, Autobahnen und sauberer Wasserkraft. Die Analyseergebnisse stehen derzeit noch aus.
- Discovery of new near-surface pyrrhotite-rich massive sulphide zone
- Identification of new Pipe Formation stratigraphy similar to Thompson deposit
- Strategic location near key infrastructure (mill, rail, highways, power)
- Successful completion of planned drilling program with multiple mineralized intersections
- Assay results still pending - no confirmed nickel grades yet
- Visible sulphide mineralization does not guarantee economic nickel grades
Highlights:
- Twelve drillholes completed, totaling 3,585.5 metres across multiple high-priority conductive trends
- Newly identified near surface pyrrhotitei-rich massive sulphide zone along trend HL-04
- A new zone of Pipe Formation stratigraphy has been identified in the southern portion of the property, where structural and geological features closely resemble those of the Thompson deposit
Saskatoon, Saskatchewan--(Newsfile Corp. - April 28, 2025) - Core Nickel Corp. (CSE: CNCO) ("Core Nickel" or the "Company") is pleased to announce the successful completion of its winter 2025 Drill Program (the "Program") at the
Misty Urbatsch, Chief Executive Officer, President, and Director of Core Nickel, commented, "Our winter drill program at Halfway Lake has delivered encouraging results. The program has upgraded the exploration potential of the property with the intersection of a new near-surface, pyrrhotite-rich massive sulphide zone that remains open along strike and at depth and a newly identified zone with Pipe Formation stratigraphy in the southern area, where structural and geological features closely resemble those of the Thompson Deposit."
Halfway Lake Winter 2025 Drill Program
Twelve NQ drillholes totalling 3,585.5 metres were completed during winter 2025 to test high-priority targets identified from the 2024 VTEM survey for the presence of and characteristics associated with remobilized magmatic nickel sulphide mineralization, analogous to Thompson-style deposits.
Recent drilling has confirmed the presence of several critical components of the magmatic nickel sulphide deposit model, including ultramafic-hosted sulphides (source), sulphidic Pipe Formation stratigraphy (trap), and key structural controls such as folding, faulting, and remobilized sulphide zones (preservation). These features are essential to the formation and localization of nickel sulphide deposits, and their presence reinforces the exploration potential for a well-preserved, structurally focused nickel system on the Halfway Lake project.
Assay results for the winter 2025 drill program are currently pending; visible sulphide mineralization does not equate to nickel grades.
Table 1. Winter 2025 Diamond Drillhole Parameters
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_001full.jpg
Figure 1. Halfway Lake Winter 2025 Drillhole and Conductive Trend Location Map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_002full.jpg
Winter 2025 Drill Program Highlights and Discussion
Conductive Trend HL-04 - Newly Identified Near Surface Pyrrhotite-Rich Sulphides
Drillhole HFW-25-007 targeted a strong electromagnetic (EM) response along the HL-04 conductive trend, located on the edge of a magnetic anomaly. A 35-centimetre massive, pyrrhotite-rich sulphide breccia was intersected at 44.2 m depth, followed by 2.4 m of pelite-hosted intermittent pyrrhotite-rich, semi-massive sulphide breccias intercalated with pegmatite to 46.95 m. From 46.95 to 72.8 m, local stringers and brecciated veins of pyrrhotite are hosted within pegmatite. Semi-massive to massive pyrrhotite-rich sulphides from 72.8 to 74.3 m contains millimetre-scale quartz clasts and minor interstitial biotite (Figure 2). Decimetre-scale pegmatite-hosted semi-massive pyrrhotite breccias are intermittent to 81.8 m.
Drillhole HFW-25-010 was designed to test two off-hole borehole electromagnetic (BHEM) responses, interpreted to be near horizontal, ~35 m in front of HFW-25-007. HFW-25-010 intersected semi-massive, pyrrhotite-dominated sulphides from 39.2 to 41.7 m. The semi-massive pyrrhotite is hosted within pelitic metasediments entrained in a larger pegmatite package. The hole is interpreted to have intersected the lower portion of the pyrrhotite-rich sulphide zone encountered in HFW-25-007.
Drillhole HFW-25-015, located 50 m along strike to the southwest of HFW-25-007, intersected sulphide-bearing ultramafic rocks from the base of the overburden at 37.4 m to 45.1 m. Pyrrhotite dominated sulphide-bearing pegmatite and pelite, with narrow intervals of ultramafic material extends below to 85.1 m, where a faulted contact with interpreted Pipe Formation is present.
Collectively, these holes demonstrate the continuity of pyrrhotite-bearing sulphides along the HL-04 trend, suggesting the potential for a nickel sulphide system that remains open for expansion both along strike and down-dip.
Figure 2. Top: Massive sulphides, dominantly pyrrhotite in HFW-25-007 from 72.8 to 73.5 m.
Bottom: Close-up of massive sulphides at 73.3 m in HFW-25-007.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_003full.jpg
Conductive Trend HL-29 - Sulphide-Bearing Ultramafics and Narrow Semi-Massive Sulphides Support Continued Exploration in Southern Fold Nose
Drillhole HFW-25-011 targeted a conductive response coincident with a weak magnetic anomaly along conductive trend HL-29. The drillhole was designed to evaluate the lithological and structural setting of nickel sulphide mineralization within the Pipe Formation at a potential southwest F3 fold nose, following up on conductive trends and favourable stratigraphy observed in drillholes along strike.
The drillhole intersected a structurally complex Pipe Formation sequence including a 12.7 m serpentinized ultramafic with disseminated pyrrhotite from 107.1 to 119.8 m, pyrrhotite-rich pelite from 322.5 to 354.7 m coincident with a pyrrhotite breccia from 331.2 to 331.6 m and semi-massive pyrrhotite from 343.0 to 343.2 m (Figure 3). Several narrow decimetre-scale ultramafics were intersected between 355.8 and 371.3 m, and a serpentinized ultramafic from 490.2 to 491.9 m.
Figure 3. Semi-massive sulphides, dominantly pyrrhotite in HFW-24-011 at 343.1 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_004full.jpg
Drillhole HFW-25-011 was prioritized based on the development of a geological model constructed from the EM and magnetic geophysical data and drill results in HFW-25-006 and HFW-25-008 (Figure 4), which supports the interpretation of a southwest F3 fold on the southern portion of the Halfway Lake property, the northwestern limb of which would encompass the mineralized W62 Zone.
Figure 4. Geophysical products (EM and magnetics) from the 2024 VTEM survey with the interpreted fold formline (dashed line).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_005full.jpg
Drilling in this area of the Halfway Lake project has identified compelling geological similarities between the southern project area and the Thompson Mine setting, one of Canada's premier nickel deposits. Similarities include the spatial association of ultramafic and sulphidic rocks, as seen in the W62 Zone, comparable metamorphic grades and ductile structural regimes confirmed by regional mapping by the Manitoba Geological Survey1, and evidence of plastic flow and remobilization of sulphides along stratigraphic horizons, notably in drillholes HFW-003 and HFW-25-004. Additionally, the presence of F3 fold structures mirrors the structural setting of the Thompson orebody (Figure 5), which is hosted within a southwest-trending F3 fold hinge and associated parasitic folds-further supporting the district-scale nickel sulphide potential of the Project.
Figure 5. Thompson Mine geology on the left (Couëslan, 20191) and southern Halfway Lake magnetics on the right. Upper diagram (A) shows the interpreted fold formline overlain on the regional magnetics. Lower diagram (B) shows the Thompson Mine geology mirror image superimposed over southern Halfway Lake Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_006full.jpg
Thompson Nickel Belt Deposit Model
Nickel exploration in the Thompson Nickel Belt is guided by a well-established magmatic nickel sulphide deposit model, which describes the geological conditions necessary for the formation, concentration, and preservation of high-grade nickel sulphide deposits. This model (Figure 6) is defined by three key components:
- Source and Transport: The presence of ultramafic intrusions indicates the source of nickel-rich magmas. These rocks serve as both the origin and conduit for metal transport during magmatic emplacement.
- Trap Mechanism: Sulphidic metasedimentary rocks, particularly those of the Pipe Formation, act as chemical traps. When nickel-rich ultramafic magmas interact with these sulphur-rich sediments, they may become sulphur-saturated, triggering the formation of nickel sulphides.
- Preservation: Structural features such as folding, faulting, and remobilization play a critical role in preserving and concentrating sulphide mineralization. These processes can localize massive sulphide accumulations within structural traps like fold noses or fault zones.
Massive nickel sulphide deposits formed in this environment are typically high-grade but compact, often with near-surface footprints measured in the hundreds of metres, making detailed targeting and high-resolution geophysics critical to discovery.
Recent drilling on the Project has intersected several key elements of this model, including ultramafic-hosted sulphides, sulphidic Pipe Formation stratigraphy, folding, faulting, and structurally remobilized sulphide zones-all supporting the potential for high-grade nickel sulphide discoveries at Halfway Lake.
Figure 6: Illustrates the structural style of folded, stretched and boudinaged ultramafic sills, remobilized massive sulphides, and remnant sedimentary sulphides (Bleeker & Macek, 19962).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_007full.jpg
About Core Nickel
Core Nickel Corp. is a junior nickel exploration company that controls
Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 15-20 km from the City of Thompson. Core Nickel's northern TNB land package consists of three projects: Mel, Hunter, and Odei River. The Mel project encompasses the Mel deposit, which is characterized by a historical mineral resource consisting of an indicated resource of 4,279,000 tons grading
The Company also holds two projects in the central TNB near the community of Wabowden: Halfway Lake and Resting Lake. Both projects host the target Pipe Formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills, and other infrastructure.
Figure 7. Core Nickel Project Location Map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/249942_a92bc083e47af88c_008full.jpg
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Caitlin Glew, P. Geo., Vice-President Exploration for Core Nickel Corp., who has reviewed and approved its contents.
References
1 Couëslan (2019). Field Trip Guidebook: Stratigraphy and ore deposits in the Thompson nickel belt, Manitoba (OF2019-2). Winnipeg: Manitoba Geological Survey
2 Bleeker, W., & Macek, J.J. (1996). Evolution of the Thompson Nickel Belt, Manitoba: Setting of Ni-Cu Deposits in the Western Part of the Circum Superior Boundary Zone - Field Trip Guidebook A1. Geological Association of Canada/Mineralogical Association of Canada Annual Meeting, Winnipeg, Manaitoba, May 27-29, 1996.
3 "Technical Report on the Mel Deposit, Northern Manitoba" prepared for Victory Nickel Inc, Shane Naccashian (P. Geo.) of Wardrop Engineering Inc., March 9, 2007
Mel Historical Mineral Resource
Core Nickel Corporation is treating the 2007 Mineral Resource Estimate (MRE) prepared for Victory Nickel Inc. by Shane Naccashian (P. Geo.) of Wardrop Engineering Inc. as a "historical mineral resource" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the reader is cautioned not to treat it, or any part of it, as a current mineral resource. Core Nickel has not done sufficient work to classify the historical estimate as a current mineral resource.
The historical MRE summarized above has been included simply to demonstrate the mineral potential of the Mel deposit and the Mel project. Core Nickel considers the 2007 MRE to be relevant to the further development of the project; however, is not treating the historical estimate as a current mineral resource. The historical MRE was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
To upgrade or verify the 2007 historical estimate as current, Core Nickel will need to complete a thorough review of all the 2007 historical MRE information and drill data, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical MRE subsequent to the publication of the resource. Additionally, a full review of the economic parameters utilized to determine current Reasonable Prospectus for Eventual Economic Extraction (RPEEE) would be required in order to produce a current MRE for the Property. Any future mineral resource will need to evaluate the open pit and/or underground potential taking into consideration the current cost and pricing conditions or constraints, along with continuity of the resource blocks.
Technical Disclosure
The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System ("iMaQs") as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject projects.
On behalf of the Board of Directors
"Misty Urbatsch"
Misty Urbatsch
CEO, President and Director
Core Nickel Corp.
Contacts:
| Misty Urbatsch, CEO and President | General Enquiry |
| Tel: 306-668-6927 | Tel: 306-668-6927 |
| Email: murbatsch@corenickel.com | Email: info@corenickel.com |
Also find us online:
www.corenickel.com
https://x.com/CoreNickel
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
i "Pyrrhotite is an iron sulphide mineral with the chemical formula Fe(1-x)S and can be associated with the iron-nickel sulphide mineral pentlandite (Fe,Ni)9S8."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249942
FAQ
What are the main findings from Core Nickel's (CNCOF) winter 2025 drill program at Halfway Lake?
How deep was the massive sulphide discovery in CNCOF's HFW-25-007 drillhole?
What infrastructure advantages does Core Nickel's Halfway Lake project have?
When will Core Nickel (CNCOF) release the assay results from the winter 2025 drill program?
