STOCK TITAN

Power Nickel Update -Following up on 2024 Drill Successes, Expanding Exploration Target Areas, and Announcing a New Discovery 700 Metres East of The Lion Zone

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Power Nickel (TSXV: PNPN) has launched its 2025 winter drill campaign at the Nisk project, following successful 2024 drilling results that revealed high-grade copper and precious metal discoveries in the Lion zone. Notable intersections include:

- 14.40m of 8.15% Cu, 6.23 g/t Pd, 8.40 g/t Pt (PN-24-047)
- 32.00m of 3.62% Cu, 8.10 g/t Pd, 2.47 g/t Pt (PN-24-070)

The company plans to operate 3 drills by mid-February, targeting the Lion deposit extensions and exploring 5.5 km of previously undrilled strike between Nisk and Lion. A new discovery has been made 700m east of Lion, intersecting massive sulphides with strong nickel indications. The company has retained a geophysicist to review borehole and ground EM surveys from 2024 to identify new drill targets.

Power Nickel (TSXV: PNPN) ha avviato la sua campagna di perforazione invernale 2025 presso il progetto Nisk, dopo i risultati di perforazione del 2024 che hanno rivelato scoperte di rame di alta qualità e metalli preziosi nella zona Lion. Le intersezioni notevoli includono:

- 14,40 m di 8,15% di Cu, 6,23 g/t di Pd, 8,40 g/t di Pt (PN-24-047)
- 32,00 m di 3,62% di Cu, 8,10 g/t di Pd, 2,47 g/t di Pt (PN-24-070)

L'azienda prevede di utilizzare 3 perforatrici entro metà febbraio, puntando alle estensioni del deposito Lion ed esplorando 5,5 km di strike precedentemente non perforato tra Nisk e Lion. È stata fatta una nuova scoperta a 700 m a est di Lion, che ha intersecato solfuri massivi con forti indicazioni di nichel. L'azienda ha assunto un geofisico per rivedere i sondaggi di perforazione e EM a terra del 2024 al fine di identificare nuovi obiettivi di perforazione.

Power Nickel (TSXV: PNPN) ha lanzado su campaña de perforación invernal 2025 en el proyecto Nisk, tras los resultados de perforación exitosos de 2024 que revelaron descubrimientos de cobre de alta ley y metales preciosos en la zona Lion. Las intersecciones notables incluyen:

- 14,40 m de 8,15% Cu, 6,23 g/t Pd, 8,40 g/t Pt (PN-24-047)
- 32,00 m de 3,62% Cu, 8,10 g/t Pd, 2,47 g/t Pt (PN-24-070)

La compañía planea operar 3 taladros para mediados de febrero, con el objetivo de las extensiones del depósito Lion y explorando 5,5 km de una zona aún no perforada entre Nisk y Lion. Se ha realizado un nuevo descubrimiento a 700 m al este de Lion, intersectando sulfuros masivos con fuertes indicios de níquel. La compañía ha contratado a un geofísico para revisar los sondeos de perforación y las encuestas EM terrestres de 2024 para identificar nuevos objetivos de perforación.

파워 니켈 (TSXV: PNPN)은 2024년 성공적인 시추 결과를 바탕으로 Nisk 프로젝트에서 2025년 겨울 시추 캠페인을 시작했습니다. 이 결과는 Lion 지역에서 고품질 구리와 귀금속 발견을 보여주었습니다. 주목할 만한 교차점은 다음과 같습니다:

- 14.40m에서 8.15% Cu, 6.23 g/t Pd, 8.40 g/t Pt (PN-24-047)
- 32.00m에서 3.62% Cu, 8.10 g/t Pd, 2.47 g/t Pt (PN-24-070)

이 회사는 2월 중순까지 3개의 시추기를 운영할 계획으로, Lion 매장층의 확장을 목표로 하고 있으며 Nisk와 Lion 사이의 5.5km에 달하는 이전에 시추되지 않은 지역을 탐사할 예정입니다. Lion에서 동쪽으로 700m 떨어진 곳에서 새로운 발견이 있었으며, 강한 니켈 지시 성분이 있는 대량 황화물이 발견되었습니다. 이 회사는 2024년의 보링 및 지상 EM 조사 결과를 검토하여 새로운 시추 목표를 식별하기 위해 지구 물리학자를 고용했습니다.

Power Nickel (TSXV: PNPN) a lancé sa campagne de forage d'hiver 2025 au projet Nisk, suite aux résultats de forage fructueux de 2024 qui ont révélé des découvertes de cuivre de haute qualité et de métaux précieux dans la zone Lion. Les intersections notables comprennent :

- 14,40 m de 8,15% Cu, 6,23 g/t Pd, 8,40 g/t Pt (PN-24-047)
- 32,00 m de 3,62% Cu, 8,10 g/t Pd, 2,47 g/t Pt (PN-24-070)

La société prévoit d'exploiter 3 foreuses d'ici la mi-février, ciblant les extensions du gisement Lion et explorant 5,5 km de zones encore non forées entre Nisk et Lion. Une nouvelle découverte a été faite à 700 m à l'est de Lion, intersectant des sulfures massifs avec de fortes indications de nickel. L'entreprise a retenu un géophysicien pour examiner les enquêtes EM de forage et terrestres de 2024 afin d'identifier de nouveaux objectifs de forage.

Power Nickel (TSXV: PNPN) hat seine winterliche Bohrkampagne 2025 im Nisk-Projekt gestartet, nachdem erfolgreiche Bohrergebnisse von 2024 hochgradige Kupfer- und Edelmetallentdeckungen in der Lion-Zone offenbart haben. Bemerkenswerte Schnittpunkte beinhalten:

- 14,40 m von 8,15% Cu, 6,23 g/t Pd, 8,40 g/t Pt (PN-24-047)
- 32,00 m von 3,62% Cu, 8,10 g/t Pd, 2,47 g/t Pt (PN-24-070)

Das Unternehmen plant, bis Mitte Februar mit 3 Bohrern zu arbeiten, die auf die Erweiterungen des Lion-Ablagerungen abzielen und 5,5 km unerkundeter Strukturen zwischen Nisk und Lion zu erkunden. Eine neue Entdeckung wurde 700 m östlich von Lion gemacht, wo massive sulfidische Mineralien mit starken Nickelhinweisen aufgetroffen wurden. Das Unternehmen hat einen Geophysiker beauftragt, die Bohrloch- und Boden-EM-Untersuchungen aus 2024 zu überprüfen, um neue Bohrziele zu identifizieren.

Positive
  • High-grade copper and precious metal discoveries in 2024 drilling
  • Significant intersections with multiple valuable minerals (Cu, Pd, Pt, Ag, Au, Ni)
  • New discovery 700m east of Lion zone with massive sulphides
  • Expansion of drilling program to 3 rigs by mid-February
  • 5.5 km of unexplored strike length between Nisk and Lion
Negative
  • Assay results pending for new discovery zone
  • Large unexplored area requiring significant drilling investment

TORONTO, Jan. 27, 2025 /PRNewswire/ - Power Nickel Inc(the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the beginning of the 2025 winter drill campaign on the Nisk project with hole PN-24-96 (Figure 1). This hole will be testing the depth extension along the trend of the Lion zone, following up on successful drilling of high-grade Cu and precious metal (Pd, Pt, Au, Ag) discovered in 2024 drill holes (See some highlights below and Table 2).

  • PN-24-047 contains 14.40m of 8.15% Cu; 6.23 g/t Pd; 8.40 g/t Pt; 68.9 g/t Ag; 0.59 g/t Au; and 0.58% Ni
  • PN-24-051 contains 11.40m 0f 2.51% Cu; 3.20 g/t Pd; 19.59 g/t Pt; 14.0 g/t Ag; 0.24 g/t Au; and 0.58% Ni
  • PN-24-053 contains 5.00m of 12.70% Cu; 20.87 g/t Pd; 1.02 g/t Pt; 102.9 g/t Ag; 1.76 g/t Au; 0.40% Ni
  • PN-24-070 contains 32.00m @ 3.62% Cu; 8.10 g/t Pd; 2.47 g/t Pt; 20.9 g/t Ag; 0.45 g/t Au; 0.18% Ni

Note: Reported lengths are downhole distance; true width based on model projections is estimated as 85-95% of downhole length

The 2024 drilling has begun to delineate a deposit that is analogous to Cu rich deposits that form an end member type of deposit found in large Ni deposit camps, such as those observed at Norilsk and the off-set dyke style deposits in Sudbury. The presence of a Ni-Cu-Co-PGE deposit (Nisk), and a Cu-PGE-Au-Ag deposit (Lion) along the same layered ultramafic unit provides encouragement to target additional, possibly larger, deposits within this camp. Power Nickel's current exploration information is suggestive of a potentially large volume of metal yet to be discovered.

To achieve these discoveries the current plans for the winter 2025 exploration campaign include operating 3 drills by mid February. The initial drill will extend depth and strike extensions of the Lion deposit. The remaining two drills will target the known strike of the ultramafic, including 5.5 km of strike between Nisk and Lion that has not previously been drilled. This area includes structures and EM anomalies that are similar to the original target that led to the discovery of Lion in late 2023. In addition, the Nisk Ni deposit remains open to expansion, with some of the best intersections found in the last drilling campaign at Nisk (2023) that targeted depth extensions. Additional drilling is expected to increase the 2023 NI43-101 mineral resource estimate, and to help understand Nisk's connection to the high grade Lion Cu deposit.

To help direct the exploration drilling Power Nickel has retained the services of a geophysicist to review borehole EM surveys and ground EM surveys that were conducted in 2024. This work will identify new drill targets for the 2025 campaign. Several holes west of Lion (PN-24-082 to 85, Figure 1) are the initial locations for borehole EM surveys and these will be prioritized when the second drill arrives at site at the beginning of February.

A New Discovery – PN-24-094
Borehole EM surveys in 2024 have already provided a success. In late 2024 Power Nickel tested a weak EM target located 700m east of Lion that was similar to the one found over the Lion deposit. The initial holes showed indications of a weak Cu mineralized structure (Figure 2). A subsequent bore hole survey indicated an off-hole anomaly and subsequent drilling intersected massive sulphides (po-cpy) with strong indications of Ni in on-site XRF analyses (Figure 3). The unusual host rock for this deposit (felsic gneisses) provides at third deposit type in this expanding Ni-Cu camp. Power Nickel is awaiting assays of this zone to help characterize it. This area will be another focus of the 2025 drilling campaign.

Figure 1: Plan view of drill holes in the Lion Zone Area, showing current drill hole PN-25-096, and discovery hole PN-24-094 east of Lion (CNW Group/Power Nickel Inc.)

Figure 2: Example of minor Cu mineralization in PN-24-090 drill core that led to BH EM discovery in PN-24-094 (CNW Group/Power Nickel Inc.)

Figure 3: Massive sulphide intersections in PN-24-094. This zone was preceded by significant  zones of vein, fracture controlled and disseminated Cu zones. (CNW Group/Power Nickel Inc.)

Qualified Person
Joseph Campbell, P.Geo, VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

Table 2: Significant assay results previously reported - Lion zone

Hole

From

To

Length

Au

Ag

Cu

Pd

Pt

Ni

CuEq
Rec*

(m)

(m)

(m)

(g/t)

( g/t )

( %)

(g/t)

( g/t )

( %)

( %)

PN-24-063

428

433

5

0.48

24.82

4.41

0.21

6.15

0.47

5.93

Including

429

432

3

0.73

37.9

7.1

0.3

9.26

0.5

9.3

PN-24-064

452

454.2

2.15

0.21

2.98

0.49

0.68

0.24

0.1

0.87

Including

452

453

1

0.27

3.9

0.85

1.03

0.31

0.19

1.35

PN-24-065

No significant values

PN-24-066

402

414

12.05

0.09

4.53

0.65

6.39

0.3

0.06

2.97

Including

411

414

3

0.2

12.5

1.95

2.26

0.62

0.12

2.78

With

413

414

1

0.28

32.4

5.08

4.44

0.44

0.16

6.22

PN-24-067

431

442.9

12.15

0.12

8.54

1.75

1.99

0.36

0.14

2.36

Including

431

433.4

2.65

0.16

8.47

1.27

1.01

0.84

0.11

1.8

With

432

432.4

0.5

0.77

43.1

6.38

1.46

4.24

0.38

7.74

and Including

441

442.9

2.35

0.31

32.77

7.41

8.59

0.64

0.32

9.64

With

442

442.9

0.75

0.34

70

15.7

12.7

0.49

0.41

18.01

PN-24-068

475

476.3

1.7

0.28

10.96

2.74

3.47

1.54

0.1

4.15

Including

475

475.1

0.5

0.94

36.3

8.55

11.4

5.19

0.28

13.34

PN-24-069

100

117

17

0.28

9.52

0.93

7.19

1.66

0.05

4.05

Including

100

106

6

0.42

19.33

0.96

11.68

3.69

0.04

6.43

With

100

102

2

0.66

47.3

2.15

19.35

2.87

0.08

10.26

and Including

112

117

5

0.35

7.8

1.78

9.69

0.74

0.09

5.38

With

114

115

1

0.57

12.9

6.09

33.8

0.85

0.36

18.39

PN-24-070

118

150

32

0.45

20.93

3.62

8.1

2.47

0.18

6.97

Including

120

130

10

0.5

12.94

1.76

10.82

5.98

0.08

7.44

With

120

12

2

0.53

28.2

5.77

7.61

1.86

0.25

8.45

and Including

139

150

11.4

0.6

44.51

8.39

11.52

1.24

0.42

11.94

With

141

147.4

6

0.79

60.98

12.9

15.21

1.6

0.51

17.22

PN-24-071

157

196.6

39.6

0.38

19.57

2.62

3.37

0.8

0.13

4.19

Including

157

160

3

0.25

8.93

0.68

6.2

0.04

0.02

3.04

and Including

185

196.6

11.6

0.88

49.9

8.25

9.57

2.64

0.34

12.46

With

193

196.6

3.6

1.56

63.03

10.39

11.42

7.9

0.32

16.89

PN-24-072

294

345

51

0.54

9.1

1.01

0.06

1.14

0.53

1.94

Including

294

299.2

5.2

0.18

3.67

0.02

0

1.19

0.89

0.86

and Including

308

309.8

1.9

0.45

4.43

0.11

0

0.99

0.71

0.99

and Including

321

323

2

0.15

3.45

0.32

0.03

1.18

0.51

1

and Including

325

332.5

7.1

0.68

18.14

0.66

0.08

0.73

0.15

1.61

and Including

333

345

12.5

0.31

16.22

3.01

0.17

3.14

1.49

4.63

With

333

337

4.5

0.53

32.71

6.4

0.35

5.73

3.74

9.59

PN-24-073

355

383.8

29.1

0.25

4.97

0.51

1.52

0.7

0.06

1.49

Including

367

369

2.1

0.21

20.67

3.53

4.05

0.1

0.27

5.14

and Including

376

379.3

3

1.67

14.93

0.89

10.36

5.71

0.04

7.41

PN-24-074

290

313.6

23.55

0.15

3.06

0.6

0.11

0.13

0.02

0.89

Including

295

295.8

1

0.09

7.2

0.5

0.02

0.93

0.02

0.9

and Including

311

313.6

2.5

1.27

18.57

5.1

0.52

0.78

0.13

6.46

PN-24-075

322

340.7

19.2

0.14

5.45

1.04

0.05

1.22

0.53

1.65

Including

322

324.9

3.4

0.6

13.02

0.24

0.01

3.38

3.6

2.97

and Including

330

331

0.75

0.27

15.4

1.94

0.06

0.52

0

2.16

and Including

338

340.7

3.05

0.23

15.29

5.31

0.23

4.36

0.27

6.62

PN-24-076

No significant values

PN-24-078

158

187

29.4

0.53

11.95

1.15

1.08

0.36

0.06

2.34

Including

158

169.2

11.55

0.44

11.55

0.59

1.25

0.76

0.02

1.92

With

159

160.6

2

0.64

14.85

0.49

2.71

2.32

0.02

3.24

And With

164

168.2

4.65

0.59

15.83

0.97

1.25

0.5

0.04

2.38

and Including

174

187

13.35

0.77

15.86

1.98

1.29

0.14

0.12

3.43

With

174

176.6

2.9

3.16

21.62

5.84

4.72

0.44

0.48

11.03

And With

183

187

4

0.23

35.78

2.3

0.73

0.11

0.03

3.23

PN-24-079

177

197

20.05

0.88

23.2

2.36

3.3

0.53

0.14

4.29

including

187

197

10.25

1.28

33.1

3.7

4.63

0.34

0.2

6.26

and

205

206.7

1.9

2.73

43.2

1.15

0.42

0.07

0.04

3.41

and

217

220

3.25

0.14

8.6

0.4

0.04

0.01

0.01

0.52

PN-24-080

Isolated individual assay values

PN-24-081

348

353

4.85

0.65

6.7

0.32

2.1

0.76

0.06

1.84

including

349

350

1

2.84

27.8

1.04

8.77

3.11

0.06

7.15

and

358

359.2

0.95

0.05

7.4

1.15

0.22

0.01

0.13

1.35

About Power Nickel Inc.

Power Nickel is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into Canada's next poly metallic mine.

On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE: TSXV).

The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to evaluate the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits.

In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. Power Nickel is expected to reorganize these assets in a related public vehicle through a plan of arrangement.

For further information, readers are encouraged to contact:

Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Neither the TSX Venture Exchange nor its 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 various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; 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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/power-nickel-update-following-up-on-2024-drill-successes-expanding-exploration-target-areas-and-announcing-a-new-discovery-700-metres-east-of-the-lion-zone-302360468.html

SOURCE Power Nickel Inc.

FAQ

What are the key drilling results from Power Nickel's (PNPNF) 2024 Lion zone program?

Key results include 14.40m of 8.15% Cu, 6.23 g/t Pd, 8.40 g/t Pt in PN-24-047, and 32.00m of 3.62% Cu, 8.10 g/t Pd, 2.47 g/t Pt in PN-24-070.

Where is Power Nickel's (PNPNF) new discovery located relative to the Lion zone?

The new discovery is located 700 meters east of the Lion zone, intersecting massive sulphides with strong nickel indications in felsic gneisses.

How many drills will Power Nickel (PNPNF) deploy in its 2025 winter campaign?

Power Nickel plans to operate 3 drills by mid-February 2025 for its winter exploration campaign.

What is the extent of unexplored area between Nisk and Lion in PNPNF's property?

There is 5.5 km of unexplored strike length between the Nisk and Lion deposits that has not been previously drilled.

POWER NICKEL INC

OTC:PNPNF

PNPNF Rankings

PNPNF Latest News

PNPNF Stock Data

156.18M
181.32M
7.6%
2.32%
Other Industrial Metals & Mining
Basic Materials
Link
United States of America
Toronto