Power Nickel (TSX-V:PNPN) expects to deliver a robust initial mineral resource estimate in the future at the Lion Zone discovery within the Nisk Project in Québec, Canada with its 2025 drilling program now underway.
By the first week of February, a second drill rig will be operating with a third expected on site by the middle of the month.
Power Nickel says while the increased drill capacity will allow for a quicker turnaround of results, it also expedites building the potential mineral resource.
The company anticipates updating the market in the coming weeks with further results along with clarity around the plans and objectives for the 2025 program.
Power Nickel received three drillhole assays from the 2024 Canadian ‘fall’ program, which tested the depth and western extensions of the Lion Zone.
The latest assays returned grades up to 2.84 grams per tonne gold, 43.2g/t silver, 3.7% copper, 8.77g/t palladium, 3.11g/t platinum, and 0.20% nickel.
“These holes continue to inspire the team on how exciting the Lion Zone is so far and its potential as we expect to complete the remaining 15,000m of drilling between now and the end of April 2025,” CEO Terry Lynch says.
As a result of the latest assays, the company says the Lion Zone continues to conform to interpreted geological modelling and extends the mineralised area of the “high-grade” copper, gold, silver, and platinum group metals within the area.
Vice President of Exploration Joe Campell says Power Nickel’s understanding of the Lion Zone continues to improve, “with the excellent continuity and consistency of the zone allowing us to confidently forecast where individual holes will intersect the target mineral horizon of each hole whether it’s the Lion Zone itself or, for example, deploying downhole electromagnetics to amplify the aggressive step out exploration efforts”.
In parallel to the drilling program, ongoing expert interpretations of the 2024 electromagnetic (EM) ground and borehole surveys is expected to uncover multiple conductive targets that will allow for a greater expansion of the exploration efforts.
Power Nickel notes the EM is anticipated to uncover extensions to the Lion Zone, alongside providing additional targets of similar zones along several kilometres of strike on the mineralised structures.
The Nisk Project is a nickel-copper sulphide deposit with mineralisation for battery metals. The project comprises 20km of strike length and is located in the Eeyou Istchee James Bay territory of Québec.
Power Nickel is a Canadian explorer focused on nickel, copper, platinum group metals, gold, and silver.
The company will be exhibiting at this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada.
The annual award winning convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event.
To register for PDAC 2025 click here.
Write to Aaliyah Rogan at Mining.com.au
Images: Power Nickel
