Power Nickel Inc. [TSXV-PNPN; OTC-PNPNF; FSE-IVV] reported high-grade multielement assay results for holes PN-24-056 to PN-24-059. The company continues to expand its near-surface, high-grade copper, platinum, palladium, gold and silver zone 5 km northeast of its Main Nisk deposit in Quebec.
Highlights: PN-24-059 returned 17.25 metres of 0.66 g/t gold, 27.20 g/t silver, 3.33% copper, 2.04 g/t palladium, 1.49 g/t platinum and 0.18% nickel, including 5.59 metres of 1.91 g/t Au, 73.48 g/t Ag, 9.88% Cu, 6.23 g/t Pd, 4.56 g/t Pt and 0.49% Ni, with 3.01 metres of 0.86 g/t Au, 110.5 g/t Ag, 13.92% Cu, 8.55 g/t Pd, 7.69 g/t Pt and 0.48% Ni.
PN-24-058 returned 8.27 m of 0.19 g/t Au, 7.12 g/t Ag, 0.64% Cu, 3.43 g/t Pd, 0.84 g/t Pt and 0.25% Ni, including 5.20 m of 0.15 g/t Au, 10.18 g/t Ag, 0.90% Cu, 4.84 g/t Pd, 1.17 g/t Pt and 0.38% Ni, with 2.20 m of 0.16 g/t Au, 22.43 g/t Ag, 1.87% Cu, 7.53 g/t Pd, 1.15 g/t Pt and 0.83% Ni.
PN-24-057 returned 5.20 m of 0.37 g/t Au, 36.23 g/t Ag, 2.57% Cu, 5.72 g/t Pd, 2.45 g/t Pt and 0.19% Ni, including 2.17 m of 0.57 g/t Au, 78.62 g/t Ag, 5.53% Cu, 12.42 g/t Pd, 5.62 g/t Pt and 0.24% Ni.
PN-24-056 returned 4.60 m of 0.72 g/t Au, 5.38 g/t Ag, 0.88% Cu, 2.67 g/t Pd, 1.42 g/t Pt and 0.12% Ni, including 2.45 m of 1.33 g/t Au, 9.66 g/t Ag, 1.58% Cu, 4.25 g/t Pd, 0.66 g/t Pt and 0.15% Ni.
“Another exciting set of holes from the Lion Zone. The zone continues to be very productive as we explore deeper. We are seeing the high-grade width of about 100 metres and very mineable halos that extend 50-75 metres on either side continue at depth,” commented Terry Lynch, CEO.
The company’s winter 2024 drill program ended with 15 successful holes at the Lion Discovery. Additional assays released keep supporting the ongoing progress on the discovery that has been made. Power Nickel will continue to drill at the Lion Discovery in the upcoming summer season, following up PN-24-051 and PN-24-062, the deepest mineralized intersections to date.
From the available data and observations, the mineralized zone can be followed 225m laterally and 300m deep. The thickness of the massive chalcopyrite zone varies, ranging from up to 5-6 m true width in the core of the zone to less than 1 meter laterally.
The core of the zone appears to be sheared and highly altered locally; considering the overall geological context in which the zone is hosted, and the knowledge acquired at Nisk Main, some degree of deformation is to be expected.
In such scenario, holes PN-24-056, -057 and -058 are interpreted to have intersected the attenuated lateral boundaries the zone, while PN-24-059 intersection is through the core of the zone. 3D modeling and interpretation of secondary lithologies (dykes, sub-units) and structures from core logging and geochemistry data is ongoing as more results become available.
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 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.
