Power Nickel Reports 0.88% Nickel, 0.56% Copper Over 40.30 Metres

Power Nickel (TSXV: PNPN) hit the wire this morning with fresh drill results from a drill program conducted at its flagship Nisk project, found near James Bay, Quebec. The results build upon initial results released in late November, which included an intercept of 1.17% nickel over 25.86 metres.

Full assays for two holes were released this morning, in addition to further results from hole PN-22-009, which extended the mineralization in that hole by nearly 15 metres. Highlights from the results include:

  • PN-22-008: 0.25% nickel, 0.01% copper, 0.01% cobalt, 0.76 g/t palladium 0.08 g/t platinum over 18.65 metres (from a depth of 350.35 metres)
  • PN-22-009: 0.88% nickel, 0.56% copper, 0.06% cobalt, 1.64g/t palladium and 0.15 g/t platinum over 40.30 metres (from a depth of 337.70 metres)
    • Including 1.17% nickel, 0.90% copper, 0.08% cobalt, 1.46 g/t palladium and 0.23 g/t platinum over 25.86 metres
  • PN-22-010: 0.33% nickel, 0.34% copper, 0.02% cobalt, 0.39 g/t palladium, 0.05 g/t platinum over 12.45 metres (from a depth of 269.15 metres)

“The continued extension of PN-22-009 makes it one of the best Nickel holes reported in recent history. A 40-meter long interval, representing 10 to 15 m of true thickness, at this grade of NiEq should positively impact tonnage as we prepare our new 43-101,” commented Power Nickel CEO Terry Lynch.

WATCH: Power Nickel: The Quebec-Based Nisk Project – With Terry Lynch

Results from the recent results are said to extend known mineralization by 150 metres at depth, as well as to the east. Core logging is said to have confirmed the presence of sulfides in the areas the company has defined as targets, which lead to the extension of known mineralization depths.

Results from eight additional drill holes conducted under the program remain pending. Fourteen holes to date have been completed under the phase two drill program. An additional 7,500 to 10,000 metres is set to be drilled under the current program, with that additional drilling slated to begin mid-month.

Power Nickel last traded at $0.215 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.

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