# NiCAN Confirms New Gold Discovery in Thompson Manitoba, Intersecting 27.6 Meters of 1.25g/t Gold Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264 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: 2026-09-14 15:10:55 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary NiCAN Limited has confirmed a new gold discovery at the Pipy South Project in Manitoba, highlighted by a 27.6m intercept of 1.25 g/t Au and 12.5 g/t Ag in hole PIPY25-04. The results were verified via photon assaying, showing high correlation and suggesting a well-disseminated mineralized body. The company is currently seeking additional permits to expand drilling around the newly identified zone. Reasoning: The release reports a new gold discovery with significant intercepts that confirm and extend historical mineralization, supported by high-confidence assay verification. - Positive factor: New gold discovery confirmed by recent drilling - Positive factor: Significant intercept of 27.6m at 1.25 g/t Au - Positive factor: High correlation between 50g and 500g photon assay results suggests low nugget effect - Positive factor: Mineralization appears open in all directions - Positive factor: Analogous to world-class iron formation hosted gold camps - Negative factor: Current work permit limits drilling extent - Negative factor: Assays for recent holes PIPY25-07 and PIPY25-08 are still pending Facts used in scoring: 22 ## Classification and evidence **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling \(PIPY25-04\) is described as the first to test the target, confirming a new discovery. Evidence · text > confirmed a new near surface gold discovery **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: The release mentions verification of 50g fire assay results by photon assaying on 500g samples. Evidence · text > results were subsequently verified by photon assaying **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The 2.0m interval at 5.39 g/t Au is exceptionally high grade for this deposit type. Evidence · table > 5.39 Context: 2.0 ## Extracted facts Stored fact records: 22. Some facts used in scoring do not have a stored record. ## Drill Results (22) ### PIPY25-04 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-0) Pipy South · gold #### Identity - Hole ID: PIPY25-04 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 1.25 - Grade Unit: g/t - Intercept: 27.6 m - From: 20.4 m - To: 48 m - Intercept Depth: 20.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-04:20.4-48 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Primary discovery intercept confirming new mineralization. - Positive factor: Significant width and grade for a new discovery Evidence · table > 1.25 Context: 27.6 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-1) Pipy South · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: PIPY25-04 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 12.5 - Grade Unit: g/t - Intercept: 27.6 m - From: 20.4 m - To: 48 m - Intercept Depth: 20.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-04:20.4-48 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - 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: Secondary metal credit in the primary discovery intercept. - Positive factor: Significant silver credits accompanying gold Evidence · table > 12.5 Context: 27.6 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-2) Pipy South · gold #### Identity - Hole ID: PIPY25-04 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 2.14 - Grade Unit: g/t - Intercept: 14.3 m - From: 21.4 m - To: 35.7 m - Intercept Depth: 21.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-04:21.4-35.7 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: High-grade portion of the main intercept. - Positive factor: Higher grade sub-interval Evidence · table > 2.14 Context: 14.3 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-3) Pipy South · silver #### Identity - Hole ID: PIPY25-04 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 19.8 - Grade Unit: g/t - Intercept: 14.3 m - From: 21.4 m - To: 35.7 m - Intercept Depth: 21.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-04:21.4-35.7 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Secondary metal credit in the high-grade sub-interval. - Positive factor: Higher grade silver sub-interval Evidence · table > 19.8 Context: 14.3 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-4) Pipy South · gold #### Identity - Hole ID: PIPY25-04 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 5.39 - Grade Unit: g/t - Intercept: 2 m - From: 33.7 m - To: 35.7 m - Intercept Depth: 33.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-04:33.7-35.7 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - 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 interval. - Positive factor: Bonanza grade intercept Evidence · table > 5.39 Context: 2.0 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-5) Pipy South · silver #### Identity - Hole ID: PIPY25-04 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 7.1 - Grade Unit: g/t - Intercept: 2 m - From: 33.7 m - To: 35.7 m - Intercept Depth: 33.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-04:33.7-35.7 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Silver grade in the high-grade gold sub-interval. Evidence · table > 7.10 Context: 2.0 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-05 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-6) Pipy South · gold #### Identity - Hole ID: PIPY25-05 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 0.65 - Grade Unit: g/t - Intercept: 9.5 m - From: 9.6 m - To: 19.1 m - Intercept Depth: 9.6 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-05:9.6-19.1 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Hole interpreted to have overshot the main zone. - Positive factor: Confirms presence of mineralization in the area - Negative factor: Lower grade than primary target Evidence · table > 0.65 Context: 9.5 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-05 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-7) Pipy South · silver #### Identity - Hole ID: PIPY25-05 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 8.4 - Grade Unit: g/t - Intercept: 9.5 m - From: 9.6 m - To: 19.1 m - Intercept Depth: 9.6 m #### Classification - Program: exploration - Sample Type: drill - Group ID: PIPY25-05:9.6-19.1 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Silver credit in the overshot hole. Evidence · table > 8.40 Context: 9.5 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-8) Pipy South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 17BN01 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 1.2 - Grade Unit: g/t - Intercept: 47 m - From: 27 m - To: 74 m - Intercept Depth: 27 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 17BN01:27-74 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Historical intercept used for context/correlation. - Positive factor: Wide mineralized zone - Negative factor: Historical data, no current QA/QC disclosed in this document Evidence · table > 1.20 Context: 47.0 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-9) Pipy South · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: 17BN01 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 5.9 - Grade Unit: g/t - Intercept: 47 m - From: 27 m - To: 74 m - Intercept Depth: 27 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 17BN01:27-74 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Historical silver credit. Evidence · table > 5.90 Context: 47.0 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-10) Pipy South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 17BN01 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 6.63 - Grade Unit: g/t - Intercept: 5.6 m - From: 55.4 m - To: 61 m - Intercept Depth: 55.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 17BN01:55.4-61 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Historical high-grade sub-interval. - Positive factor: High grade historical intercept Evidence · table > 6.63 Context: 5.6 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-11) Pipy South · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: 17BN01 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 10.13 - Grade Unit: g/t - Intercept: 5.6 m - From: 55.4 m - To: 61 m - Intercept Depth: 55.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 17BN01:55.4-61 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Historical silver credit. Evidence · table > 10.13 Context: 5.6 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-12) Pipy South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 17BN01 - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 15.35 - Grade Unit: g/t - Intercept: 2 m - From: 57.4 m - To: 59.4 m - Intercept Depth: 57.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 17BN01:57.4-59.4 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Historical high-grade peak. - Positive factor: Bonanza grade historical intercept Evidence · table > 15.35 Context: 2.0 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-13) Pipy South · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: 17BN01 - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 14.8 - Grade Unit: g/t - Intercept: 2 m - From: 57.4 m - To: 59.4 m - Intercept Depth: 57.4 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 17BN01:57.4-59.4 - Mining Method: unknown #### Location - Location: Pipy South - Loc. Source: document #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Historical silver credit. Evidence · table > 14.80 Context: 2.0 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-14) Pipy South · gold #### Identity - Hole ID: PIPY25-04 incl. - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 2.14 - Grade Unit: g/t - Intercept: 14.3 m - From: 21.4 m - To: 35.7 m - Intercept Depth: 21.4 m #### Classification - Sample Type: drill - Group ID: PIPY25-04 incl.:21.4-35.7 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-15) Pipy South · silver #### Identity - Hole ID: PIPY25-04 incl. - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 19.8 - Grade Unit: g/t - Intercept: 14.3 m - From: 21.4 m - To: 35.7 m - Intercept Depth: 21.4 m #### Classification - Sample Type: drill - Group ID: PIPY25-04 incl.:21.4-35.7 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-16) Pipy South · gold #### Identity - Hole ID: PIPY25-04 incl. - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 5.39 - Grade Unit: g/t - Intercept: 2 m - From: 33.7 m - To: 35.7 m - Intercept Depth: 33.7 m #### Classification - Sample Type: drill - Group ID: PIPY25-04 incl.:33.7-35.7 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### PIPY25-04 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-17) Pipy South · silver #### Identity - Hole ID: PIPY25-04 incl. - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 7.1 - Grade Unit: g/t - Intercept: 2 m - From: 33.7 m - To: 35.7 m - Intercept Depth: 33.7 m #### Classification - Sample Type: drill - Group ID: PIPY25-04 incl.:33.7-35.7 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-18) Pipy South · gold #### Identity - Hole ID: 17BN01 incl. - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 6.63 - Grade Unit: g/t - Intercept: 5.6 m - From: 55.4 m - To: 61 m - Intercept Depth: 55.4 m #### Classification - Sample Type: drill - Group ID: 17BN01 incl.:55.4-61 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-19) Pipy South · silver #### Identity - Hole ID: 17BN01 incl. - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 10.13 - Grade Unit: g/t - Intercept: 5.6 m - From: 55.4 m - To: 61 m - Intercept Depth: 55.4 m #### Classification - Sample Type: drill - Group ID: 17BN01 incl.:55.4-61 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-20) Pipy South · gold #### Identity - Hole ID: 17BN01 incl. - Project: Pipy South - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 15.35 - Grade Unit: g/t - Intercept: 2 m - From: 57.4 m - To: 59.4 m - Intercept Depth: 57.4 m #### Classification - Sample Type: drill - Group ID: 17BN01 incl.:57.4-59.4 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ### 17BN01 incl. [Link to this fact](https://atlas-extractions.minestarters.com/news/nican-confirms-new-gold-discovery-in-thompson-manitoba-intersecting-27-6-meters--ba3a54b0-7e52-406d-a307-671983138264#fact-drill-facts-21) Pipy South · silver #### Identity - Hole ID: 17BN01 incl. - Project: Pipy South - Commodity: silver - Region: canada\_mb - Reported Region: canada\_mb - Ticker: NICN #### Geometry - Grade: 14.8 - Grade Unit: g/t - Intercept: 2 m - From: 57.4 m - To: 59.4 m - Intercept Depth: 57.4 m #### Classification - Sample Type: drill - Group ID: 17BN01 incl.:57.4-59.4 - Mining Method: unknown #### QA/QC - QP Signed: Yes #### 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. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Initial exploration activities will focus on the Pipy South Project, which is adjacent to the Mystery Lake South area, l" ## 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.