FULL DISCLOSURE: This is sponsored content for Power Nickel.
The final results of a fall 2023 drill campaign have been released by Power Nickel (TSXV: PNPN) this morning. The results consist of assays from a total of six holes conducted at the Nisk nickel sulfide PGM project in Quebec.
Highlights from the results include:
- PN-23-037: 0.24% nickel, 0.07% copper, 0.14 ppm palladium over 14.00 metres, from a depth of 516.00 metres
- PN-23-038: 0.44% nickel, 0.34% copper, 0.55 ppm palladium, 0.09 ppm platinum over 14.00 metres from a depth of 551.20 metres
- PN-23-040: 0.62% nickel, 0.63% copper, 0.78 ppm palladium, 0.22 ppm platinum over 12.77 metres from 641.68 metres depth
- PN-23-042: 0.71% nickel, 0.12% copper, 0.42 ppm palladium over 7.77 metres from 801.70 metres depth
Four of the six holes are said to impact the resource estimate for Nisk, thanks to high grade zones that were intersected.
“The fall campaign was another successful drilling program for Power Nickel. We will add these holes to our database, allowing us to expand our mineral resource estimate footprint,” commented CEO Terry Lynch.
The winter 2024 drill program, which began back in January, meanwhile is focused on capitalizing on an ambient noise tomography program conducted last year. The winter program intends to test four targets identified by the program, which have demonstrated a signature similar to that of the Nisk Main deposit.
“These targets are hosted in areas showing a similar “ANT signature” to Nisk Main. Given the right geology, each target represents a potential volume varying from 50% to 100% of the volume we have identified at Nisk Main,” commented Lynch at the time of announcement.
READ: Power Nickel Begins Nisk 2024 Winter Drill Program
The program will also look to test the extensions of hole PN-23-031A, which last year intersected 5.71 g/t palladium, 20.76 g/t platinum, 0.28 g/t gold and 1.47% copper over 7.75 metres last year, and aims to expand the known resource at Nisk Main.
“While we are pleased with our fall work, we believe the drilling program we have embarked on this winter will yield our best results to date,” Lynch concluded this morning.
Power Nickel last traded at $0.235 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.
