Core Nickel Corp. (CSE: CNCO) is quickly gaining traction as an emerging exploration company targeting high-grade nickel sulfide systems in northern Manitoba. Since listing in late 2023, the company has raised $3.9 million in capital, secured nearly $0.5 million in non-dilutive government funding, launched multiple drill programs, and initiated airborne surveys across key assets — all while firmly establishing itself in the globally significant Thompson Nickel Belt.
The company’s exploration efforts are centered on the Thompson Nickel Belt, the world’s fifth-largest nickel belt and a globally significant source of high-grade nickel sulfide. Though more than five billion lbs. of nickel have been mined from the region, large portions of the belt remain underexplored using modern geological and geophysical techniques. Because of this long history of mining activity, the region boasts exceptional infrastructure to support future development, including all-season highways, rail connections, and access to two nearby nickel mills: Vale’s Thompson Mill, which has a processing capacity of approximately 12,000 tonnes per day (t/d), and the Bucko Mill near Wabowden, which has a capacity of 1,000 t/d. The entire area is powered by Manitoba’s nearly 100% clean hydroelectric grid, providing a significant advantage for low-carbon, sustainable development.
Core Nickel holds 100% ownership in 270 km2 of land across five properties in the Thompson Nickel Belt: Mel, Halfway Lake, Resting Lake, Hunter, and Odei River. The company’s flagship Mel project hosts a historical mineral resource consisting of an indicated resource of 4.28 million tonnes grading 0.875% nickel (Ni), and an inferred resource of 1.01 million tonnes grading 0.839% Ni, using a cut-off grade of 0.5% Ni. The Mel deposit is situated only 20 km from the Thompson Mill and just 10 km from a provincial highway, providing excellent access to processing and transportation infrastructure.
The company’s strategy includes both expanding the historical resource at Mel and identifying new discoveries within its broader land position. This effort is being supported by a property-wide helicopter-borne versatile time domain electromagnetics (VTEM) and horizontal gradiometer geophysical survey across the Mel and Odei River projects. The survey is designed to identify conductive and magnetic features associated with nickel sulfide mineralization and will support a better understanding of the Mel deposit geology, assist with Mel resource expansion, and progress the understanding of the broader Mel and Odei River property geology. Upon completion of the VTEM survey on Mel and Odei River, Core Nickel’s entire land portfolio will be covered by modern VTEM — one of the most vital tools used in nickel exploration within the Thompson Nickel Belt.
In parallel, Core Nickel has engaged Understood Mineral Resources to initiate a modern resource update for the Mel deposit. This process will incorporate new geological modelling alongside historical and new data to bring the deposit in line with current NI 43-101 standards. As part of this work, the company has launched a re-assay program using available core from past drilling at Mel to validate historical results and improve confidence in the resource model. The re-assay program will help inform the updated resource and support future drilling plans aimed at expanding and upgrading the deposit.
Core Nickel’s inaugural 2024 drill program was focused on the W62 Zone at the Halfway Lake Project, where the company completed three diamond drillholes totaling 797.45 metres. Results confirmed a wide nickel-bearing ultramafic package in hole HFW-002, which returned 91.05 metres grading 0.37% Ni from a vertical depth of approximately 120 metres. The intersection of prominent nickel-bearing ultramafics is encouraging, confirming the presence of nickel in the system. The next phase of exploration will aim to locate areas where nickel has been remobilized and concentrated into higher-grade massive sulfide zones.
To support the ongoing target generation, Core Nickel completed a property-wide VTEM and horizontal magnetic gradiometry survey over the Halfway Lake and Resting Lake properties in the summer of 2024. The survey identified 14 high-priority targets across Halfway Lake. In January 2025, the company commenced a 4,000-metre follow-up diamond drill program on the Halfway Lake property to begin testing these high-priority targets. Drilling was planned for completion in mid-April 2025, with assay results anticipated in mid- to late-May. The combination of promising geophysical targets and strong geological indicators from previous drilling makes Halfway Lake a key component of Core Nickel’s discovery-focused exploration strategy.
As Canada pushes to secure a domestic supply of critical minerals for electric vehicles and clean energy technologies, companies like Core Nickel are playing an increasingly important role. With a growing portfolio of prospective targets and a clear operational roadmap, Core Nickel is positioning itself to become a key player in nickel exploration.
The Thompson Nickel Belt remains one of the most compelling underexplored nickel regions globally. With a strong technical team, well-funded exploration plans, and collaborative development philosophy, Core Nickel is aiming to deliver results that match the scale of the opportunity. 
Misty Urbatsch is the CEO, president, and director of Core Nickel Corp.
