Power Nickel (TSXV: PNPN) is looking to set itself apart from other mineral explorers. The firm this morning revealed that it has taken efforts to offset its carbon footprint in connection with ongoing exploration at its properties.
The company has reportedly retained the services of Karbon-X Corp to obtain 159 Verra carbon credits as a means of offsetting its emissions from 40,000 metres of drilling. The carbon credits are said to be high quality VCU credits, which will counteract 159 tonnes of greenhouse gases emitted from the use of 60,000 litres of diesel fuel.
“These offsets will neutralize the Diesel fuel we will use to drill approximately 40,000 metres of drilling. It symbolizes our goal of creating the world’s first carbon neutral Nickel mine at our Nisk Project in Nemaska Quebec.,” commented Power Nickel CEO Terry Lynch.
WATCH: Power Nickel: The Quebec-Based Nisk Project – With Terry Lynch
“Karbon X and it’s DrillGreen.ca initiative makes a lot of sense to us. Miners are amongst the most environmentally friendly people I know and we need to start showing the world we can and will find responsible ways to find the materials needed to power the greening of our economy. This is a modest first step for us and I would hope other miners will follow our lead,” he continued.
Each offset is certified via a third-party verification board to ensure that one metric tonne of greenhouse gas emissions is offset with each credit. Once purchased, the offset is retired, ensuring that it can only be claimed by an organization once.
The purchase is said to represent the commitment of Power Nickel to “offsetting their drilling program in the years to come.”
The company recently indicated that it will be expanding its ongoing drill program by 7,500 to 10,000 metres, following early success in the current program. As of the end of 2022, the company had drilled fourteen holes, of which assays have been released for five holes. The most recent assays include 0.88% nickel, 0.56% copper, 0.06% cobalt, 1.64g/t palladium and 0.15 g/t platinum over 40.30 metres.
Power Nickel last traded at $0.22 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.
