Premium Nickel Resources Ltd. (TSXV: PNRL) has reported high-grade polymetallic assay results from ten additional drill holes at its Selebi North underground mine in Botswana. The company’s latest findings highlight substantial nickel, copper, and cobalt mineralization, reinforcing the potential of this past-producing mine.
The highlights of the assay results include:
- SNUG-24-094 (N2 Limb, 400 metres down plunge of historic N2 resource):
- 52.45 metres of 2.02% NiEq or 3.59% CuEq (1.26% Ni, 1.17% Cu, 0.06% Co)
- Including 10.40 metres of 2.93% NiEq or 5.21% CuEq (1.73% Ni, 1.89% Cu, 0.09% Co)
- SNUG-24-105 (South Limb / N2, within the historic resource):
- 35.60 metres of 2.45% NiEq or 4.35% CuEq (1.54% Ni, 1.38% Cu, 0.08% Co)
- Including 16.15 metres of 3.03% NiEq or 5.38% CuEq (1.86% Ni, 1.80% Cu, 0.10% Co)
- And 5.30 metres of 2.39% NiEq or 4.25% CuEq (1.61% Ni, 1.15% Cu, 0.09% Co)
- And 5.80 metres of 3.38% NiEq or 6.00% CuEq (2.23% Ni, 1.72% Cu, 0.12% Co)
- SNUG-24-098 (South Limb, within historic resource):
- 9.55 metres of 2.84% NiEq or 5.03% CuEq (1.78% Ni, 1.63% Cu, 0.09% Co)
- SNUG-24-101 (South Limb, 175 metres down plunge of historic resource):
- 4.55 metres of 2.78% NiEq or 4.94% CuEq (1.96% Ni, 1.19% Cu, 0.10% Co)
- SNUG-24-104 (South Limb, 100 metres down plunge of historic resource):
- 7.00 metres of 3.29% NiEq or 5.84% CuEq (2.19% Ni, 1.64% Cu, 0.12% Co)
According to CEO Keith Morrison, “These assays are the last underground drill holes to be included in the first Selebi National Instrument 43-101 compliant Mineral Resource Estimate. The MRE will incorporate drilling data from both Selebi North and Selebi Main and is expected in the coming weeks.”
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As of June 24, 2024, PNRL has completed 41,836 metres of drilling across 107 drill holes from seven underground drill bays, with three additional drill holes currently in progress. The extensive drilling has targeted various mineralized zones, historically named N2 Limb, N3 Limb, and South Limb, to delineate their locations within the folded mineralized horizon.
Three drills are currently operational at the 810-metre level exploration drift, positioned to evaluate areas further down plunge and outside the known historic resource estimate. This includes two drill bays at the southernmost extent of the drift and a third drill positioned approximately 130 metres east, allowing for optimal intersection angles on the South Limb and N2 Limb.
Premium Nickel Resources last traded at $0.79 on the TSX Venture.
Information for this story was found via Sedar and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
