Gold Candle released the first mineral resource estimate (MRE) for the Geminid nickel sulphide zone, which is located 1,300 metres east of the historic Kerr-Addison mine outside Virginiatown in northeastern Ontario. The Gold Candle exploration team discovered Geminid in 2023. Since the initial discovery hole in summer 2023, the company has drilled 16,181 metres in 23 holes.
The company announced the following inferred MRE: 2.93 Mt at 1.6% nickel, containing 105 million pounds of nickel (at a 0.69% nickel cut-off grade).
Gold Candle President and COO Leon LeBlanc stated: “We are incredibly proud to announce our initial Inferred Resource at the Geminid Project, located adjacent to our 5.7-million-ounce gold project at Kerr Addison. With less than two years of drilling, we have reported one of the highest grades, undeveloped nickel sulphide projects not currently owned by a major mining company.The orebody in this resource has approximate dimensions of 200 metres strike, 700 metres vertical extent and has an average thickness of 4.5 metres. Historical work has identified nickel mineralization up to 400 metres east of the orebody and recent drilling has extended the mineralization beyond the limitations of the resource,”
LeBlanc continued: “We are planning to drill an additional 5,000 m on Geminid through 2025, targeting significant extensions along strike and at depth.” LeBlanc continued. “It was not our intention to be pursuing a nickel discovery, but we see significant complimentary value in delineating a multi-million tonne, high grade resource along with a multi-million-ounce gold system in the heart of one of the world’s great mining camps. This is another example of the exploration upside of Gold Candle’s property and supports our ongoing +50,000 m exploration plan.”
Gold Candle Vice President of Exploration Dean Crick said:”We are excited to report a nickel resource that is open in all directions with expansion drilling planned along strike and at depth. We are also encouraged to report signs of chalcopyrite (copper sulphide) mineralization beyond the nickel zones. Concurrently we will be undertaking geophysical surveys across the regional project land tenure of roughly five km to the Quebec border to define potential additional drill targets for follow-up. As such, Geminid presents a compelling poly-metallic opportunity in addition to gold targets along the prolific Cadillac Larder Lake Break).”
More information is posted on www.GoldCandle.com.
