Canadian junior exploration company Power Nickel (TSX-V:PNPN) expects to roar into action following the release of assay results from drilling at the Lion Zone at its Nisk project in Québec in September.
The 2024 summer program is focusing on the depth and lateral continuity to the west of the current known mineralisation. Assays from several promising holes are now in at the laboratory and the company expects to report on those by late September.
In announcing “high-grade multi-elements assay results” for the remaining holes of its 2024 winter drill program, CEO Terry Lynch says Power Nickel’s 2024 winter drilling program was very productive and holes 50 and 60 add a significant amount of positive mineralisation.
“They also grew our knowledge base, as we begin to better understand the orientation of the Lion Zone and how the high grade is distributed. We now see a very robust and massive core of 100-150 metres in diameter and then halos of mineralised stringers that surround it for about 50 metres on each side,” the CEO adds.
“Holes 50 and 60 are from such mineralised stringer zones. With the addition of these last holes from our winter program, we now see the mineralised zone increasing by over 90% from our first approximation of the Lion Zone’s dimension. Successful drilling of the Lion Zone from our summer drilling program continues to add to this impressive discovery, with assays expected in late September.”
GeoVector Management is the consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.
All samples were submitted to and analysed at Activation Laboratories, an independent commercial laboratory for both the sample preparation and assaying.
Power Nickel is a Canadian junior exploration company focusing on developing the “high-grade” Nisk project into Canada’s first carbon neutral nickel mine.
The 2024 winter drill program ended with 15 holes at the Lion discovery. At the end of the winter program, the zone has shown an increase in size of more than 94% compared to past reported zone dimension.
The thickness of the massive chalcopyrite zone remains the same and varies, ranging from up to 5-10m true width in the core of the zone to less than 1m laterally. Power Nickel reports from the complete assays dataset and the newest structural interpretation, the core appears to present a westerly plunge.
Vice President Exploration Ken Williamson says the company is excited to continue drilling this discovery and combined with its comprehensive exploration program being deployed contemporaneously, Power Nickel is addressing two key components of the work to be done.
“Growing the Lion Zone into an even bigger dimension and determining the true world class potential of Nisk,” Williamson says.
The Nisk property comprises a significant land position (20km of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper PGE mineralisation with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential nickel deposits.
In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. The company is in the process of reorganising these assets in a related vehicle, through a plan of arrangement that will be presented to Power Nickel shareholders of record for their approval.
Write to Adam Orlando at Mining.com.au
Images: Power Nickel
