FULL DISCLOSURE: This is sponsored content for Power Nickel.
Power Nickel (TSXV: PNPN) has seen continued success from drill testing its Lion Discovery, a high grade copper, platinum, palladium, gold and silver zone found to the northeast of the main Nisk deposit at its flagship property.
The company, after having been halted for trading all day Monday, last night released the drill results from two holes after the bell, both of which intersected zones of high grade mineralization. Highlights from the results include:
- PN-24-047: 8.17% copper, 0.59 g/t gold, 69.14 g/t silver, 6.25 g/t palladium, 8.44 g/t platinum, 0.58% nickel over 14.42 metres
- Including 17.33% copper, 0.95 g/t gold, 167.46 g/t silver, 13.04 g/t palladium, 29.24 g/t platinum and 1.77% nickel over 3.01 metres
- PN-24-051: 2.51% copper, 0.24 g/t gold, 13.95 g/t silver, 3.20 g/t palladium, 19.59 g/t platinum, 0.18% nickel over 11.40 metres
- Including 1.32% copper, 0.23 g/t gold, 7.53 g/t silver, 2.47 g/t palladium, 0.53 g/t platinum, 0.12% nickel over 4.90 metres
The results are part of a fifteen hole drill program that was centered on the Lion Discovery and conducted over the winter drill season. Previously released results have also intersected high grade intercepts at the zone, including 1.47% copper over 7.75 metres in hole PN-23-031A, and 5.33% copper over 6.55 metres in hole PN-24-044, among other metals.
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“With 15 holes through the mineralized zone, we have been able to define the initial footprint of what appears to be a structurally controlled high-grade multi-elements pod. Our 50m grid approach has proven to be successful in helping us to define the geometry of the zone and its plunge. We will continue our analysis of the assay results as they become available to refine our interpretation,” commented Kenneth Williamson, VP of Exploration for Power Nickel.
READ: Power Nickel Believed To Have Hit High Grade Platinum-Palladium Zone At Nisk
The mineralized zone is said to be up to 300 metres deep, and across 225 metres laterally based on current exploration.
“We’re looking at the possibility of having both drill rigs up there this summer; one that would keep pushing the zone deeper, while another one would be exploring the surrounding ground,” continued Williamson.
Further drilling at the Lion Discovery is scheduled to occur under a summer drill program, the details of which have yet to be released.
Power Nickel last traded at $0.38 on the TSX Venture.
FULL DISCLOSURE: Power Nickel is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Power Nickel. 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.
