# NiCAN Confirms New Gold Discovery in Thompson Manitoba, Intersecting 27.6 Meters of 1.25g/t Gold

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7

Original source: https://money.tmx.com/en/quote/NICN/news/7025452035568061/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters-

Publisher: tmx

Original announcement: 2026-02-09T12:00:00.000Z

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

- Document categories: Drill results, Other

- Extracted: 2026-08-22 03:27:03 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

NiCAN has confirmed a new gold discovery at the Pipy South Project in Manitoba, intersecting 27.6 metres of 1.25 g/t gold and 12.5 g/t silver. The results from diamond drill hole PIPY25-04 validate historical mineralization and suggest a well-disseminated gold system that remains open in all directions.

Reasoning: The announcement confirms a new gold discovery with a significant 27.6m intercept and high-grade sub-intervals, validating historical targets with modern drilling.

- Positive factor: New discovery confirmed

- Positive factor: Significant intercept width

- Positive factor: High correlation between assay methods

- Positive factor: Open in all directions

- Negative factor: Permitting limits current drilling extent

Facts used in scoring: 18

## Classification and evidence

No classification tags are available.

## Extracted facts

Stored fact records: 18. Some facts used in scoring do not have a stored record.

## Drill Results (18)

### PIPY25-04

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-0)

Pipy South Project · gold

#### Identity

- Hole ID: PIPY25-04
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 1.25
- Grade Unit: g/t
- Intercept: 27.6 m
- From: 20.4 m
- To: 48 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-04:20.4-48.0
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: 27.6m intercept at 1.25 g/t Au confirms a new discovery.

- Positive factor: Significant width

Evidence · table

> 1.25

Context: 27.6

### PIPY25-04

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-1)

Pipy South Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: PIPY25-04
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 12.5
- Grade Unit: g/t
- Intercept: 27.6 m
- From: 20.4 m
- To: 48 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-04:20.4-48.0
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-01-27T00:00:00.000Z

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Silver byproduct reported alongside gold intercept.

Evidence · table

> 12.5

Context: 27.6

### PIPY25-04

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-2)

Pipy South Project · gold

#### Identity

- Hole ID: PIPY25-04
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 2.14
- Grade Unit: g/t
- Intercept: 14.3 m
- From: 21.4 m
- To: 35.7 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-04:21.4-35.7
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Stronger grade sub-interval within the main intercept.

- Positive factor: Higher grade sub-interval

Evidence · table

> 2.14

Context: 14.3

### PIPY25-04

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-3)

Pipy South Project · silver

#### Identity

- Hole ID: PIPY25-04
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 19.8
- Grade Unit: g/t
- Intercept: 14.3 m
- From: 21.4 m
- To: 35.7 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-04:21.4-35.7
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Silver byproduct reported in sub-interval.

Evidence · table

> 19.8

Context: 14.3

### PIPY25-04

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-4)

Pipy South Project · gold

#### Identity

- Hole ID: PIPY25-04
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 5.39
- Grade Unit: g/t
- Intercept: 2 m
- From: 33.7 m
- To: 35.7 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-04:33.7-35.7
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Very high grade narrow intercept.

- Positive factor: High grade

Evidence · table

> 5.39

Context: 2.0

### PIPY25-04

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-5)

Pipy South Project · silver

#### Identity

- Hole ID: PIPY25-04
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 7.1
- Grade Unit: g/t
- Intercept: 2 m
- From: 33.7 m
- To: 35.7 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-04:33.7-35.7
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Silver byproduct reported in sub-interval.

Evidence · table

> 7.10

Context: 2.0

### PIPY25-05

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-6)

Pipy South Project · gold

#### Identity

- Hole ID: PIPY25-05
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 0.65
- Grade Unit: g/t
- Intercept: 9.5 m
- From: 9.6 m
- To: 19.1 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-05:9.6-19.1
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Lower grade intercept, interpreted to have overshot the zone.

- Negative factor: Lower grade

Evidence · table

> 0.65

Context: 9.5

### PIPY25-05

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-7)

Pipy South Project · silver

#### Identity

- Hole ID: PIPY25-05
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 8.4
- Grade Unit: g/t
- Intercept: 9.5 m
- From: 9.6 m
- To: 19.1 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: PIPY25-05:9.6-19.1
- Mining Method: unknown

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Silver byproduct reported.

Evidence · table

> 8.40

Context: 9.5

### PIPY25-04 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-8)

Pipy South Project · gold

#### Identity

- Hole ID: PIPY25-04 incl.
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 2.14
- Grade Unit: g/t
- Intercept: 14.3 m
- From: 21.4 m
- To: 35.7 m

#### Classification

- Sample Type: drill
- Group ID: PIPY25-04 incl.:21.4-35.7
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Expanded from assay table. 2.14 g/t gold is strong against the default band \[5, 2, 1, 0.3\] g/t. Grade×width 30.6 g/t·m is moderate \(grade alone is strong; the better of the two is used\).

- Positive factor: 2.14 g/t gold is strong on the default band.

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

Evidence · table

> 2.14

Context: PIPY25-04 incl.

### PIPY25-04 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-9)

Pipy South Project · silver

#### Identity

- Hole ID: PIPY25-04 incl.
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 19.8
- Grade Unit: g/t
- Intercept: 14.3 m
- From: 21.4 m
- To: 35.7 m

#### Classification

- Sample Type: drill
- Group ID: PIPY25-04 incl.:21.4-35.7
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Expanded from assay table. 19.8 g/t silver is weak against the default band \[500, 200, 100, 30\] g/t. Grade×width 283.1 g/t·m is weak \(grade alone is below; the better of the two is used\).

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

Evidence · table

> 19.8

Context: PIPY25-04 incl.

### PIPY25-04 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-10)

Pipy South Project · gold

#### Identity

- Hole ID: PIPY25-04 incl.
- Project: Pipy South Project
- Commodity: gold
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 5.39
- Grade Unit: g/t
- Intercept: 2 m
- From: 33.7 m
- To: 35.7 m

#### Classification

- Sample Type: drill
- Group ID: PIPY25-04 incl.:33.7-35.7
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Expanded from assay table. 5.39 g/t gold is exceptional against the default band \[5, 2, 1, 0.3\] g/t. Grade×width 10.8 g/t·m is weak \(grade alone is exceptional; the better of the two is used\).

- Positive factor: 5.39 g/t gold is exceptional on the default band.

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

Evidence · table

> 5.39

Context: PIPY25-04 incl.

### PIPY25-04 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-11)

Pipy South Project · silver

#### Identity

- Hole ID: PIPY25-04 incl.
- Project: Pipy South Project
- Commodity: silver
- Region: canada\_mb
- Reported Region: Manitoba
- Ticker: NICN

#### Geometry

- Grade: 7.1
- Grade Unit: g/t
- Intercept: 2 m
- From: 33.7 m
- To: 35.7 m

#### Classification

- Sample Type: drill
- Group ID: PIPY25-04 incl.:33.7-35.7
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Expanded from assay table. 7.1 g/t silver is below against the default band \[500, 200, 100, 30\] g/t. Grade×width 14.2 g/t·m is below.

- Negative factor: 7.1 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

> 7.10

Context: PIPY25-04 incl.

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-12)

Pipy South Project · gold

#### 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: 17BN01:27-74
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Expanded from assay table. 1.2 g/t gold is moderate against the default band \[5, 2, 1, 0.3\] g/t. Grade×width 56.4 g/t·m is moderate.

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

Evidence · table

> 1.20

Context: 17BN01

### 17BN01

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-13)

Pipy South Project · silver

#### 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: 17BN01:27-74
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

Reasoning: Expanded from assay table. 5.9 g/t silver is weak against the default band \[500, 200, 100, 30\] g/t. Grade×width 277.3 g/t·m is weak \(grade alone is below; the better of the two is used\).

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

Evidence · table

> 5.90

Context: 17BN01

### 17BN01 incl.

[Link to this fact](https://atlas-staging.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-14)

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
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

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/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-15)

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
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

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/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-16)

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
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

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/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--2fe568ff-b373-451d-a640-3abfcf03a2f7#fact-drill-facts-17)

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
- Mining Method: unknown

#### Review

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

#### Dates

- Event date: 2026-02-09T00:00:00.000Z

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.