The first results are out for current drilling at Power Nickel’s (TSXV: PNPN) Nisk project in the James Bay region of Quebec. The first results are said to confirm the presence of high grade nickel-copper-cobalt-platinum group elements.
The results come from the Nisk Main Zone, where mineralization has now been extended by 150 metres at depth and to the east. Of the eleven drill holes conducted under the current program to date, assays have been returned for two holes. Highlights from the results include:
- PN-22-009: 1.17% nickel, 0.90% copper, 0.08% cobalt, 1.46 g/t palladium and 0.23 g/t platinum over 25.86 metres from a depth of 337.70 metres
- Including 1.50% nickel, 0.93% copper, 0.10% cobalt, 1.85 g/t palladium and 0.36 g/t platinum over 11.00 metres
- PN-22-013: 1.11% nickel, 0.54% g/t copper, 0.09% cobalt, 0.58 g/t palladium and 0.07 g/t platinum over 4.70 metres from a depth of 475.0 metres
- Including 1.60% nickel, 0.54% copper, 0.13% cobalt, 0.65 g/t palladium and 0.06 g/t platinum over 2.50 metres
“The initial assays of our fall program are very encouraging for Power Nickel shareholders. These holes were drilled in an area where no resource was modeled and as a result, will not only help us better understand our deposit but also of course add substantial tonnage to our model. From what we have seen in this drilling round we believe our aspiration to become Canada’s next Nickel mine is something our drill bit is turning into a very high probability outcome,” commented CEO Terry Lynch.
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The early results from the drill program have lead to the company expanding the drill program by another 7,500 metres to 10,000 metres, beginning in the first quarter of 2023, as outlined by the company last week.
Power Nickel last traded at $0.20 on the TSX Venture.
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