Cannon Resources announces first Fisher East Nickel drill results

Highlights

• First three diamond holes from the Fisher East Nickel Project have intersected:
  • MFED083: 14.94 m at 1.9% nickel (Ni) from 366.15 m.
  • MFED084: 4.94 m at 1.79% Ni from 559.77 m.
  • MFED088: 5.81 m at 2.29% Ni from 584.35 m.
• Mineralisation at Musket extended down dip by 100 m.
• Down-hole electromagnetics (DHEM) anomalies define northern mineralisation trend for future follow-up drilling.

The drilling has intercepted substantial thicknesses of mineralisation on the northern margin of the main channel (MFED083 14.94 m at 1.90% Ni) and extended the mineralisation to approximately 100 m below and down-plunge of the existing Musket resource. The targeted drilling of this program has been successful in defining the mineralisation trends and will facilitate ongoing drilling to grow the resource beyond the current limits.

Importantly the Musket resource remains open down plunge and laterally to the north.

Cannon CEO, Steve Lynn, commented: “The diamond drilling results and DHEM modelling are an excellent and significant development at Musket and highlight our ability to predict mineralisation trends and grow the orebody. The assay results show that the mineralisation continues down-plunge at better than the average grade of the existing resource. The system is totally unconstrained at depth and laterally within the northern mineralisation trend. This current round of drilling confirms that significant resource growth can be expected with well targeted future drilling.”

A total of four holes have been drilled at Musket (MFED083, MFED084, MFED088, MFED089), with assay result returned from three. DHEM has been completed on one hole only (MFED089), with the remainder pending survey completion.

Drillhole MFED089 intersected a narrow zone of mineralisation (assays pending) that indicates that the northern margin of the Musket channel continues through this area. A DHEM survey on the same hole has returned significant off-hole anomalies below the drillhole. The DHEM plate models indicate that significant exploration upside exists along the northern margin of the Musket mineralisation and future drilling will target these areas.

Cannon commenced a diamond drilling campaign at the Camelwood, Musket and Sabre prospects at the Fisher East Nickel Project on listing in August 2021. This programme is ongoing and has now been extended from 4000 – 6300 m, with assays pending for Camelwood and Sabre.

DHEM surveys are currently underway on existing holes from this programme and are expected to be completed by the end of October 2021.

Read the article online at: https://www.globalminingreview.com/exploration-development/13102021/cannon-resources-announces-first-fisher-east-nickel-drill-results/