Power Nickel extends resource mineralization at Nisk Main
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12.77 m @
TORONTO , Feb. 13, 2024 /PRNewswire/ - Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: CMETF) (Frankfurt: IVV) is pleased to announce the results of its fall drilling campaign at Nisk, the high-grade Nickel Sulfide PGM project located near
Hole PN-23-036 was previously announced in November 2023 and today the Company is announcing the remaining six holes PN-23-37 to PN-23-42. As reported in Table 1 below, four of these six holes successfully impact the resource at Nisk, with hole PN-23-40 and PN-23-42 carrying some attractive high-grade zones of 12.77 m @
Figure 1 below presents the position of the fall 2023 drill hole intersections against the MRE 2024 NiEq grade distribution.
Table 1 : Fall 2023 Drilling Campaign – Significant Results
Hole-ID | From | To | Length (m)* | Ni % | Cu % | Co % | Pd ppm | Pt ppm |
PN-23-036 | 463.50 | 483.00 | 19.50 | 0.57 | 0.81 | 0.03 | 0.81 | 0.33 |
Including | ||||||||
463.50 | 465.25 | 1.75 | 1.10 | 4.54 | 0.06 | 0.87 | 0.19 | |
469.00 | 475.00 | 6.00 | 0.86 | 0.54 | 0.04 | 1.57 | 0.45 | |
477.90 | 479.90 | 2.00 | 0.93 | 0.45 | 0.06 | 1.43 | 1.53 | |
PN-23-037 | 516.00 | 530.00 | 14.00 | 0.24 | 0.07 | 0.01 | 0.14 | 0.02 |
Including | ||||||||
525.00 | 530.00 | 5.00 | 0.32 | 0.10 | 0.02 | 0.32 | 0.03 | |
PN-23-038 | 551.20 | 565.20 | 14.00 | 0.44 | 0.34 | 0.03 | 0.55 | 0.09 |
Including | ||||||||
551.20 | 554.25 | 3.05 | 0.74 | 0.29 | 0.06 | 0.90 | 0.05 | |
561.30 | 565.20 | 3.90 | 0.52 | 0.38 | 0.04 | 0.53 | 0.03 | |
PN-23-039 | 428.00 | 431.00 | 3.00 | 0.19 | 0.01 | 0.01 | 0.01 | 0.01 |
PN-23-040 | 641.68 | 654.45 | 12.77 | 0.62 | 0.63 | 0.04 | 0.78 | 0.22 |
Including | ||||||||
641.68 | 645.63 | 3.95 | 0.92 | 0.59 | 0.06 | 1.22 | 0.12 | |
647.23 | 650.73 | 3.50 | 0.72 | 0.88 | 0.05 | 0.89 | 0.59 | |
PN-23-041 | 720.00 | 725.00 | no significant result | |||||
PN-23-042 | 801.70 | 809.47 | 7.77 | 0.71 | 0.12 | 0.04 | 0.42 | 0.03 |
Including | ||||||||
807.47 | 809.47 | 2.00 | 2.06 | 0.36 | 0.10 | 1.56 | 0.09 | |
*: Length is expressed as measured "downhole"; true width corresponds to approximately |
Figure 1 : Fall 2023 drillhole intersections against the MRE 2024 NiEq grade distribution.
"The fall campaign was another successful drilling program for Power Nickel. We will add these holes to our database, allowing us to expand our mineral resource estimate footprint. The successful deployment of our Ambient Noise Technology ("ANT") provided significant insight into how we can use this technology to further expand our resource at Nisk. This was key in hole 36 and this winter's drilling season is designed to test the four ANT targets identified in Figure 2 below. While we are pleased with our fall work, we believe the drilling program we have embarked on this winter will yield our best results to date," commented Power Nickel CEO Terry Lynch.
Figure 2 : Nisk ANT targets, along with the location of the fall 2023 drillhole intersections.
Kenneth Williamson, Géo, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
Follow up from January 9, 2024 news release
In connection with the closing of the Company's 4,360,000 flow-through unit private placement, the Company paid to a registered firm as a finder's fee -
Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nisk project into
On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to
The NISK property comprises a significant land position (20 kilometers 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
Power Nickel announced on June 8, 2021, that an agreement had been made to complete the
Power Nickel is also 100 percent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern
For further information on Power Nickel Inc., please contact:
Mr. Duncan Roy, VP Investor Relations
647-448-8044
terry@powernickel.com
For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Neither the TSX Venture Exchange nor it's Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others, the timing for the Company to close the private placement or the second Nisk option or risk that such transactions do not close at all; raise sufficient capital to fund its obligations under its property agreements going forward; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
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SOURCE Power Nickel Inc.
FAQ
What are the results of Power Nickel Inc.'s fall drilling campaign at Nisk project?
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Who is the CEO of Power Nickel Inc. and what is their outlook on the drilling program?
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