Power Nickel Defines Initial Volume on its High-Grade Cu-Pt-Pd-Au-Ag Zone 5km Northeast of its Main Nisk Deposit
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Discovery Hole had over One Oz/Tonne Combined Platinum and Palladium over 7.75 Metres
As previously stated (Feb 22nd, 2024), PN-24-044 successfully intersected the chalcopyrite-rich zone approximately 100 m downdip the initial Hole PN-23-031A (Figure 1). Confirmation of the zone presence at depth was part of a strategy to systematically drill a series of EM targets that are lining up with the tonalite-ultramafics contact at surface.
Given the triple amount of massive chalcopyrite observed in hole PN-24-044 compared to PN-23-031A, the focus of the Wildcat drilling program has now shifted to defining the extent of the mineralized zone. The remaining EM anomalies shall be tested later.
A series of off-section drillholes were planned on a 50 m grid to start defining the volume of the high-grade PGM mineralized zone. The current hole PN-24-047, planned to test the lateral continuity of the zone to the east, encountered the anticipated zone at a downhole depth of approximately 150 m (Figure 2).
"We are even more encouraged to extend what appears to be a very high-grade PGM rich zone laterally from the initial discovery. We still need assay results to confirm, but it certainly looks better and better. Subsequent holes will continue testing the east and west extensions. I've already alluded to this, but this PGM discovery adds an exciting and valuable dimension to the Nisk Project," commented Power Nickel CEO, Terry Lynch.
"PN-24-047 is the first lateral hit that provides us with an initial geometry and volume of the zone. It also was the first hole where we can see Nickel-bearing pentlandite in the massive sulfide…making a very interesting mix. Can't wait to see the assays on this one! We like what we see so we will be aggressively attacking the zone, starting with closely spaced drillholes and later with more distant step-out holes." stated Kenneth Williamson, Power Nickel VP Exploration.
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.
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
To obtain Power Nickel's Corporate Presentation, please use the link below:
http://powernickel.com/corporate_presentation.pdf
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.
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 is the significance of the discovery hole announced by Power Nickel Inc.?
What is the focus of Power Nickel Inc.'s drilling program following the discovery hole?
Who commented on the PGM discovery and the potential of the Nisk Project?
Who is the VP Exploration at Power Nickel Inc.?
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