- Power Nickel (TSXV:PNPN) has revealed assay results from its NISK Project in Quebec
- Its discovery hole had more than one ounce/ton of combined platinum and palladium over 7.75 metres
- The company continues to expand its near-surface high-grade copper, platinum, and palladium zone northeast of its main NISK deposit
- Shares of Power Nickel are up 10 per cent to C$0.27 as of 12:49 pm ET.
Power Nickel (TSXV:PNPN) has revealed assay results from its NISK Project in Quebec.
In a news release, the company stated its discovery hole PN-24-044 had more than one ounce/one ton combined platinum and palladium over 7.75 metres.
To date, Power Nickel stated its drill program has produced 15 of 16 successful holes at the Lion Discovery while additional assays are expected to be released shortly.
“With this hole and with what we have told in our previous press releases about this discovery we are laying out the evidence that this is what we have found. This discovery is now so real to us that we have renamed it from Wildcat to the Lion Zone,” Terry Lynch, CEO of Power Nickel, said in a statement.
The current mineralized envelope is also interpreted to extend to a minimum of 300 metres below surface and to a minimum of 225 metres latterly, according to the company’s VP of exploration Ken Williamson.
“Power Nickel has deployed a standard fan drilling program design to test in a gridded way the presence of the mineralized zone as we go,” Williamson said.
The company stated it continues to drill at the Lion Discovery.
Power Nickel owns a 100 per cent interest in five properties comprising over 50,000 acres located in the prolific iron-oxide-copper-gold belt of northern Chile.
The company also owns a 3 per cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit sold to a subsidiary of Teck Resources.
Shares of Power Nickel Inc. (TSXV:PNPN) are up 10 per cent to C$0.27 as of 12:49 pm ET.
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