Announcement Date: 2022-04-26
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Cannon Resources Ltd.
Project name: Fisher East
Location: Australia
Commodities: Nickel,Cobalt
Highlight: Drilling results incl. 5.7m @ 2.62% Ni, 0.58g/t , 0.04% Co from 192.76m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Cannon Resources Limited (ASX: CNR) (“Cannon” or “the Company”) is pleased to announce that assay results from the first hole of the current diamond drilling campaign at the Company’s flagship Fisher East Nickel Project has intersected high grade nickel in massive and disseminated sulphide over a 5.7 metre width at Sabre. Diamond drill hole MFED103 intersected 5.70m @ 2.62% Ni and 0.58 g/t (Pd + Pt) from 192.76m. Multiple zones of nickel rich massive sulphide were interspersed within this interval with the thickest zone being 1.10m @ 7.63% nickel and 1.61 g/t (Pd + Pt) from 194.33m. Hole MFED103 was the first hole drilled into an interpreted high-grade target adjacent to but outside, the northern margin of the current Sabre resource. The results confirm that substantial nickel mineralisation exists on the northern margin of the Sabre deposit and the mineralisation strike extent is now over 700 metres. Importantly the Sabre resource, currently at 24.5 kt Ni (ASX: 5 April 2022), is still only drilled to a maximum depth of 300 metres and remains open down plunge and laterally to both the north and south.
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