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POWER NICKEL INC (PNPNF) is a Canadian junior exploration company with a focus on developing the Nisk project into Canada's first Carbon Neutral Nickel mine. The flagship nickel project NISK, situated in Quebec, Canada, is strategically positioned to supply high-grade nickel to the growing North American market for lithium-ion batteries. The company continues to expand its Near Surface High-Grade Copper, Platinum, Palladium, Gold, and Silver Zone near its main Nisk Deposit, showcasing impressive assay results and promising mineral discoveries. Power Nickel is also actively engaged in offsetting its carbon footprint associated with drilling activities through partnerships with environmental organizations like Karbon-X. With a dedication to environmental stewardship and sustainability, Power Nickel is paving the way for responsible mining practices in the industry.
The latest drill results from Power Nickel at its Nisk project near James Bay, Quebec, indicate strong mineralization with high-grade Ni-Cu-Co-PGE intersections. Key findings include:
- 0.97% Ni, 0.45% Cu, 0.07% Co, 0.80 g/t Palladium, and 0.27 g/t Platinum over 16.4m in hole PN-23-023.
- New discoveries 800m east of the Main Zone show significant nickel-copper-cobalt-PGE mineralization.
- Drilling continues to confirm mineralization success and additional assay results are pending.
- A total of 14 holes from the fall 2022 program and 15 from winter 2023 were completed.
Power Nickel's ongoing exploration aims to expand the known resource while identifying new mineralized zones at Nisk.
Power Nickel Inc. (TSX-V:PNPN)(OTCQB:PNPNF) has successfully closed the second tranche of its private placement, raising CAD $2,585,000 by selling 5,170,000 flow-through units at $0.50 each. This financing is part of a larger $5,000,000 offering aimed at funding exploration activities for the NISK Nickel Sulfide project in Quebec. CEO Terry Lynch highlighted Quebec's favorable incentives for critical mineral projects, which could facilitate a potential future investment of $200 million USD for a $400 million nickel mine. The company plans to close the remaining $706,000 of the financing by early May. The flow-through shares qualify for a 30% Critical Mineral Exploration Tax Credit, enhancing their attractiveness to investors. However, delays in closing were attributed to investor analysis of recent tax changes.
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