FULL DISCLOSURE: This is sponsored content for Power Nickel.
Power Nickel (TSXV: PNPN) has received the final drill results from its fall 2022 exploration program and early results from its 2023 program, which were conducted at the Nisk Project, found near to James Bay, Quebec.
The final drilling conducted in 2022 is said to have made a discovery 800 metres to the east of the Main Zone. The discovery follows an exploration target being tested by two drill holes. While the first hole is said to not have hit significant mineralization, the second hole intersected three zones of sulphides. Highlights include:
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- PN-22-020: 0.22% nickel, 0.42% copper, 0.01% cobalt, 0.71 g/t palladium and 0.31 g/t platinum over 4.9 metres
- And 0.13% nickel, 0.13% copper, 0.01% cobalt, 0.74 g/t palladium and 0.30 g/t platinum over 2.25 metres
Further testing of the target will be required, with both holes said to be good candidates for downhole electromagnetic surveying.
Drilling in 2023 meanwhile has been focused on the Main Zone, for which the company released several significant results this morning, including:
- PN-23-023: 0.97% nickel, 0.45% copper, 0.07% cobalt, 0.80 g/t palladium and 0.27 g/t platinum over 16.4 metres
- PN-23-024: 0.57% nickel, 0.17% copper, 0.04% cobalt, 0.47 g/t palladium and 0.18 g/t platinum over 14.8 metres
- And 1.03% nickel, 0.17% copper, 0.07% cobalt, 1.13 g/t palladium and 0.10 g/t platinum over 2.3 metres
Holes 23 and 24 conducted under the program in 2023 are said to have extended mineralization up-dip into an area that was previously believed to be a low grade zone between two high grade lodes.
A total of 14 holes for 5,370 metres of drilling in aggregate were completed in 2022 under a phase two drill program. A further 15 have been completed so far under the 2023 program, with drilling now halted and expected to resume in the summer.
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“We are very pleased with the ongoing success of our exploration drilling at Nisk. Hole PN-23-023 assays were as pretty as its PICTURE. It was another excellent intersection. The team has done an amazing job piecing together the underground mystery of this deposit and we believe we have learned some invaluable clues both with our East and West exploration away from the main zone on where our next Pod like Nisk main may lie,” said CEO Terry Lynch.
Power Nickel last traded at $0.255 on the TSX Venture.
FULL DISCLOSURE: Power Nickel is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Power Nickel on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
