Power Nickel Inc. [TSXV: PNPN; OTCBB: PNPNF; FSE: IVV] reported the third set of assay results obtained for two more holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery at the NISK Project, Quebec.
“Today we announced the biggest intersection we have to date with 39.6 metres of 4.19% CuEq. This is incredibly rich in metal contained. We are expecting to deliver more of these types of holes as we finish off the last of our summer drill program. The Lion Zone is showing impressive grades and overall thickness and doing this consistently. We are building significant tonnage for our resource model. Shortly we will start delivering the results of the fall program where we are more than one week into our 30,000 metre fully funded fall and winter program. Its an exciting time to be a Power Nickel shareholder as together we are discovering just how big the Lion Zone can be and how important a discovery Nisk could become,” commented Terry Lynch, CEO.
Highlights: PN-24-071 returned 39.6 m of 0.38 g/t Au, 19.57 g/t Ag, 2.62% Cu, 3.37 g/t Pd, 0.80 g/t Pt and 0.13% Ni, including 11.60 m of 0.88 g/t Au, 49.9 g/t Ag, 8.25% Cu, 9.57 g/t Pd, 2.64 g/t Pt and 0.34% Ni which includes 3.00 m of 1.56 g/t Au, 63.03 g/t Ag, 10.39% Cu, 11.42 g/t Pd, 7.90 g/t Pt and 0.32% Ni
PN-24-073 returned 29.10 m of 0.25 g/t Au, 4.97 g/t Ag, 0.51 % Cu, 1.52 g/t Pd, 0.70 g/t Pt and 0.06% Ni, including 2.10 m of 0.21 g/t Au, 20.67 g/t Ag, 3.53% Cu, 4.05 g/t Pd, 0.10 g/t Pt and 0.27% Ni and including 3.00 m of 1.67 g/t Au, 14.93 g/t Ag, 0.89 % Cu, 10.36 g/t Pd, 5.71 g/t Pt and 0.04% Ni.
Drilling was paused for one month to allow for the local indigenous hunting season and has now restarted. Two drills are on site and targeting expansions to the Lion Zone. Samples will be expedited to the lab and results will be released as they are received.
“These new results are what we are looking for! We strongly believe that we’ve gathered around the table the right expertise and brought the right tools to be continuing in such a successful way. Not only is the semi-massive sulphides zone continuing to deliver in terms of grade, this time around it’s also delivering in thickness. With such volume of semi-massive to massive conductive sulphides, there is no doubt that the downhole EM surveys will help us out big time. We hope the EM response will be crystal clear, which should allow us to loosen up the grid from 50m spacing to something like 150-200m spacing and grow in a much quicker way the overall footprint the zone, while maintaining a very good confidence level in terms of continuity of the zone. That, coupled with our 3D modeling efforts, should provide the framework we need to then take advantage of our ongoing geochemical and geophysical analysis of the system; and with Steve Beresford onboard to guide us, I think we have a good recipe for success here!” commented Ken Williamson, Vice-President Exploration.
Power Nickel is a Canadian junior exploration company focusing on developing the high-grade Nisk project into Canada’s first Carbon Neutral Nickel mine.
The NISK property comprises a significant land position (20 km of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper PGE mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.
In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. The company is in the process of reorganizing these assets in a related vehicle, through a Plan of Arrangement that will be presented to Power Nickel shareholders of record for their approval.
