Power Nickel (TSX-V:PNPN) has beefed up its board experience with the addition of the former chief geologist of multiple major mining companies.
Dr Steve Beresford joined the junior Canadian nickel explorer as technical advisor in early May, and has now been appointed to the board.
Beresford started his career with WMC Resources in 2004 prior to it being taken over by BHP (ASX:BHP). He continued under the BHP banner until 2007 before moving on to other heavyweights including MMG (HKEX:1208), First Quantum Minerals (TSX:FM) and IGO (ASX:IGO).
He has undertaken field work in 66 countries, largely for magmatic nickel-copper-platinum group element (PGE) deposits.
Beresford, who is also an adjunct professor at the University of Western Australia, says polymetallic nickel-copper-PGE deposits remain the “premier” deposit type, even at the current nickel price which is sitting at just under US$15,900 ($24,107) per tonne. Since May the nickel price has slipped around 27%.
“These deposits are high-grade metal deposits where copper and noble metals (PGE, gold, silver) form equivalent value to nickel, not just credit metals,” he says.
Power Nickel CEO Terry Lynch says the company is tapping into Beresford’s “tried and proven” exploration techniques on polymetallic deposits to expedite the successful exploration of the Nisk property in Québec, Canada.
Nisk spans a 20km strike length and is considered prospective for nickel, copper, and PGE mineralisation.
Power Nickel started its 2024 drilling program in June, comprising 8,000m across 20 holes targeting additional zones of copper, platinum, palladium, gold, silver and nickel at the Lion Zone.
Beresford says the Lion Zone is prospective for between 11 and 15 metals.
“It’s not academic nuance to discriminate these systems from common garden nickel deposits, it’s economics,” he says,
“We continue to advance the Lion discovery and I look forward to working with the Power Nickel board during these exciting times.”
Write to Angela East at Mining.com.au
Images: Power Nickel and Steve Beresford
