# /C O R R E C T I O N -- Nican Ltd./

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11

Original source: https://money.tmx.com/en/quote/NICN/news/6450039975796347/c-o-r-r-e-c-t-i-o-n-nican-ltd

Publisher: tmx

Original announcement: 2026-01-27T12:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: NiCAN Limited

- Ticker: NICN

- Exchange: TSX

- Region: Manitoba

- Primary commodity: Gold

- Secondary commodities: Silver, Lead

- Document categories: Drill results

- Extracted: 2026-08-22 03:18:57 UTC

Narrative sentiment: 0.40 · Bullish

## Minestarters Atlas summary

NiCAN has identified a high-priority gold target at the Pipy South Project in Manitoba based on historical 2017 diamond drilling. The results include a high-grade intercept of 15.35 g/t Au over 2.0m within a wider 47.0m zone averaging 1.20 g/t Au. The company plans to conduct geophysical surveys and follow-up drilling to test this new gold-bearing horizon.

Reasoning: The announcement identifies a high-grade gold target \(15.35 g/t Au\) within a historical hole, providing a new exploration vector for the Pipy South Project, though the data is historical and lacks physical core.

- Positive factor: High-grade gold intercept identified in historical data

- Positive factor: Gold mineralization hosted in iron formation is analogous to known camps

- Positive factor: QA/QC mentioned for historical data

- Negative factor: Results are historical and from an unpublished 2017 report

- Negative factor: Physical core is currently unavailable

- Negative factor: True width and orientation are unknown

Facts used in scoring: 15

## Classification and evidence

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: 15.35 g/t Au exceeds the underground/high-grade threshold.

Evidence · table

> 15.35

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: Release mentions accredited laboratory certification and reliable QAQC data for the historical report.

Evidence · text

> includes assay results with accredited laboratory certification as well as reliable QAQC data

**Apparent Width Only**

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: The orientation and true width of the gold bearing intersection are currently unknown.

Evidence · text

> orientation and true width of the gold bearing intersection are currently unknown

## Extracted facts

Stored fact records: 15. Some facts used in scoring do not have a stored record.

## Drill Results (15)

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-0)

Pipy South Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 1.2
- Grade Unit: g/t
- Intercept: 47 m
- From: 27 m
- To: 74 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:27.0-74.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Wide intercept at moderate grade, but is historical.

- Negative factor: Historical data

Evidence · table

> 1.20

Context: 47.0

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-1)

Pipy South Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 5.9
- Grade Unit: g/t
- Intercept: 47 m
- From: 27 m
- To: 74 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:27.0-74.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Secondary silver grade in historical intercept.

Evidence · table

> 5.90

Context: 47.0

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-2)

Pipy South Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 0.92
- Grade Unit: g/t
- Intercept: 11 m
- From: 31 m
- To: 42 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:31.0-42.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Sub-interval in historical hole.

Evidence · table

> 0.92

Context: 11.0

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-3)

Pipy South Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 14.38
- Grade Unit: g/t
- Intercept: 11 m
- From: 31 m
- To: 42 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:31.0-42.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Sub-interval silver grade.

Evidence · table

> 14.38

Context: 11.0

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-4)

Pipy South Project · lead

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: lead
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 0.56
- Grade Unit: %
- Intercept: 11 m
- From: 31 m
- To: 42 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:31.0-42.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Trace lead mentioned in text for this interval.

Evidence · text

> 0.56% Pb

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-5)

Pipy South Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 6.63
- Grade Unit: g/t
- Intercept: 5.6 m
- From: 55.4 m
- To: 61 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:55.4-61.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Strong gold grade \(6.63 g/t\) but narrow width and historical.

- Positive factor: High grade intercept

- Negative factor: Narrow width

- Negative factor: Historical

Evidence · table

> 6.63

Context: 5.6

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-6)

Pipy South Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 10.13
- Grade Unit: g/t
- Intercept: 5.6 m
- From: 55.4 m
- To: 61 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:55.4-61.0

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Sub-interval silver grade.

Evidence · table

> 10.13

Context: 5.6

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-7)

Pipy South Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 15.35
- Grade Unit: g/t
- Intercept: 2 m
- From: 57.4 m
- To: 59.4 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:57.4-59.4

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Exceptional gold grade \(15.35 g/t\) but very narrow 2m interval.

- Positive factor: Bonanza grade

- Negative factor: Very narrow width

- Negative factor: Historical

Evidence · table

> 15.35

Context: 2.0

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-8)

Pipy South Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: 17BN01
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 14.8
- Grade Unit: g/t
- Intercept: 2 m
- From: 57.4 m
- To: 59.4 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01:57.4-59.4

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2017-01-01T00:00:00.000Z

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Sub-interval silver grade.

Evidence · table

> 14.80

Context: 2.0

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-9)

Pipy South Project · gold

#### Identity

- Hole ID: 17BN01 incl.
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 0.92
- Grade Unit: g/t
- Intercept: 11 m
- From: 31 m
- To: 42 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01 incl.:31-42

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Expanded from assay table. 0.92 g/t gold is weak against the default band \[5, 2, 1, 0.3\] g/t. Grade×width 10.1 g/t·m is weak.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 0.92

Context: 17BN01 incl.

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-10)

Pipy South Project · silver

#### Identity

- Hole ID: 17BN01 incl.
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 14.38
- Grade Unit: g/t
- Intercept: 11 m
- From: 31 m
- To: 42 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01 incl.:31-42

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Expanded from assay table. 14.38 g/t silver is below against the default band \[500, 200, 100, 30\] g/t. Grade×width 158.2 g/t·m is below.

- Negative factor: 14.38 g/t silver is below the weak threshold \(30 g/t\) on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 14.38

Context: 17BN01 incl.

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-11)

Pipy South Project · gold

#### Identity

- Hole ID: 17BN01 incl.
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 6.63
- Grade Unit: g/t
- Intercept: 5.6 m
- From: 55.4 m
- To: 61 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01 incl.:55.4-61

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Expanded from assay table. 6.63 g/t gold is exceptional against the default band \[5, 2, 1, 0.3\] g/t. Grade×width 37.1 g/t·m is moderate \(grade alone is exceptional; the better of the two is used\).

- Positive factor: 6.63 g/t gold is exceptional on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 6.63

Context: 17BN01 incl.

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-12)

Pipy South Project · silver

#### Identity

- Hole ID: 17BN01 incl.
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 10.13
- Grade Unit: g/t
- Intercept: 5.6 m
- From: 55.4 m
- To: 61 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01 incl.:55.4-61

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Expanded from assay table. 10.13 g/t silver is below against the default band \[500, 200, 100, 30\] g/t. Grade×width 56.7 g/t·m is below.

- Negative factor: 10.13 g/t silver is below the weak threshold \(30 g/t\) on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 10.13

Context: 17BN01 incl.

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-13)

Pipy South Project · gold

#### Identity

- Hole ID: 17BN01 incl.
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 15.35
- Grade Unit: g/t
- Intercept: 2 m
- From: 57.4 m
- To: 59.4 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01 incl.:57.4-59.4

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Expanded from assay table. 15.35 g/t gold is exceptional against the default band \[5, 2, 1, 0.3\] g/t. Grade×width 30.7 g/t·m is moderate \(grade alone is exceptional; the better of the two is used\).

- Positive factor: 15.35 g/t gold is exceptional on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 15.35

Context: 17BN01 incl.

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-nican-ltd--94fab360-32f2-4df9-82c7-201a8861fe11#fact-drill-facts-14)

Pipy South Project · silver

#### Identity

- Hole ID: 17BN01 incl.
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 14.8
- Grade Unit: g/t
- Intercept: 2 m
- From: 57.4 m
- To: 59.4 m

#### Classification

- Sample Type: drill
- Group ID: 17BN01 incl.:57.4-59.4

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-01-27T00:00:00.000Z

Reasoning: Expanded from assay table. 14.8 g/t silver is below against the default band \[500, 200, 100, 30\] g/t. Grade×width 29.6 g/t·m is below.

- Negative factor: 14.8 g/t silver is below the weak threshold \(30 g/t\) on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 14.80

Context: 17BN01 incl.

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.