- Power Nickel (TSXV:PNPN), a micro-cap battery metals stock, has yielded its best intercept to date at the Lion zone discovery on its Nisk nickel, copper, cobalt, palladium and platinum project in Quebec
- Drill hole PN-24-071 yielded a record 39.6 m of 4.19 per cent copper equivalent
- Power Nickel is a Canadian junior mining stock developing its high-grade Nisk project into Canada’s first carbon-neutral nickel mine
- Power Nickel stock has added 310 per cent year-over-year and 382.35 per cent since changing its name from Chilean Metals in July 2021
Power Nickel (TSXV:PNPN), a micro-cap battery metals stock, has yielded its best intercept to date at the Lion zone discovery on its Nisk nickel, copper, cobalt, palladium and platinum project in Quebec.
The results encompass two new drillholes and represent the third set of assays from the summer 2024 program. Highlights include:
- A record 39.6 m of 4.19 per cent copper equivalent (CuEq) (0.38 grams per ton (g/t) of gold, 19.57 g/t silver, 2.62 per cent copper, 3.37 g/t palladium, 0.80 g/t platinum and 0.13 per cent nickel) from PN-24-071.
- 29.10 m of 0.25 g/t gold, 4.97 g/t silver, 0.51 per cent copper, 1.52 g/t palladium, 0.70 g/t platinum and 0.06 per cent nickel from PN-24-073.
Two drills are operating on site to expand the Lion zone following a one-month pause for the local Indigenous hunting season.
The broader Nisk property houses over 20 kilometers of strike length with numerous high-grade intercepts. The property’s 2023 mineral resource estimate delineates 5.43 million tons of indicated resources grading 1.05 per cent nickel equivalent (NiEq) and 1.79 million tons of inferred resources grading 1.35 per cent NiEq.
Leadership insights
“Today we announced the biggest intersection we have to date with 39.6 m of 4.19 per cent CuEq. This is incredibly rich in metal contained,” Terry Lynch, Power Nickel’s chief executive officer, said in a statement. “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 m fully funded fall and winter program. It’s 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.”
“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,” added Ken Williamson, Power Nickel’s vice president of exploration. “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 electromagnetic (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 50 m spacing to something like 150-200 m spacing and grow in a much quicker way the zone’s overall footprint, 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!”
About Power Nickel
Power Nickel is a Canadian junior mining stock developing its high-grade Nisk project into Canada’s first carbon-neutral nickel mine. Investors also gain exposure to large land packages in British Colombia and Chile in the process of being spun out into a separate public company.
Power Nickel stock (TSXV:PNPN) is down by 1.2 per cent trading at C$0.82 per share as of 11:56 am ET. The stock has added 310 per cent year-over-year and 382.35 per cent since changing its name from Chilean Metals in July 2021.
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(Top photo of core from drillholes PN-24-071 and PN-24-073 from Power Nickel’s Lion zone discovery in Quebec: Power Nickel)