Cannon Resources (ASX:CNR) - CEO, Steve Lynn
CEO, Steve Lynn
Source: Steve Lynn / LinkedIn
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  • Cannon Resources (CRN) has announced nickel assays from the Camelwood prospect its wholly-owned Western Australian-based Fisher East Nickel Project
  • A total of five diamond holes assay results have been recieved, two to the south and three to the north of the current resources outline
  • Results include 4.67 metres at 2.31 per cent nickel from 434.33 metres and 0.71 metres at 3.29 nickel from 728.85 metres
  • The current drilling has extended the mineralisation zone a further 80 to 100 metres beyond the existing resource
  • Cannon Resource shares are in the grey, trading at 44 cents

Cannon Resources (CRN) has announced nickel assays from the Camelwood prospect its wholly-owned Western Australian-based Fisher East Nickel Project.

Two holes were drilled at depth, down-plunge and to the south of the main resource to test for extensions along the interpreted primary mineralisation trends.

Both holes (MFED090 and MFED094) intersected massive and disseminated nickel sulphides at the basal komatiite – ootwall contact.

Hole MFED090 intersected 4.67 metres at 2.31 per cent nickel from 434.33 metres and hole MFED094 intersected 0.71 metres at 3.29 nickel from 728.85 metres.

The most recent drilling reportedly demonstrates that mineralisation along the Camelwood resource’s southern boundary remains open, and that extension to the south is the most promising zone for additional drilling and resource expansion.

Another three diamond holes were drilled as shallow infill in the northern extremity of the resource outline.

The current drilling has extended the mineralisation zone a further 80 to 100 metres beyond the existing resource.

In addition,

New down-hole electromagnetic (DHEM) surveys were conducted on holes MFED090, MFED091, MFED092, MFED093 and MFED094.

According to the plate models, considerable mineralisation may exist beyond the southern boundary and beyond the drilled boundaries of the Camelwood resource shell.

“This zone to the south and below the Camelwood resource is completely open and undrilled and will be the focus of our upcoming drill program in early 2022,” CEO Steve Lynn said.

“Our aim is to drill in the most prospective locations to grow the already substantial Camelwood resource beyond the existing estimate of 2 million tonnes at 2 per cent nickel.”

Cannon Resource shares were trading in the grey at 45 cents a share.

CNR by the numbers
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