Power play as TSX-V-listed miner snares renowned Aussie geoscientist

Canadian junior exploration company Power Nickel (TSX-V:PNPN) has recruited renowned Australian geoscientist Dr Steve Beresford as a special advisor.

Beresford’s career includes roles such as Chief Geologist of three major mining companies, a lecturer and professor, and the founder of several exploration companies.

He began his exploration career at WMC Resources and has gone onto to do field exploration in 66 countries, largely for magmatic nickel-copper-PGE deposits. 

Beresford is currently an Adjunct Professor at the University of Western Australia, and a board member of AGEMERA (Agile Exploration and Geo-modelling for European Critical Raw materials) in Europe. He received his BSc honours and PhD from the University of Canterbury in New Zealand.

He is also a former Chief Geologist at First Quantum (LON:FQM), MMG (HK:1208), and at IGO (ASX:IGO).

Power Nickel CEO Terry Lynch says he first come across the globally recognised geoscientist when his son flagged a YouTube video on Ni-Cu-PGE deposits.

“Watching this video, I was so impressed by his knowledge and expertise on these types of deposits. I thought there were a lot of similarities with Nisk, and that Steve’s expertise would be very beneficial if I could convince him of Nisk’s potential to be a giant,” Lynch says.

“Ken Williamson VP of Exploration and I had a technical discussion with Dr Beresford, and we were able to convince him to help. I will let Steve describe in his own words why he has joined and from Power Nickel’s perspective, we are very excited to work with, in our view, literally the top expert on the very type of discovery we have at Nisk.

We are confident his knowledge will expedite our exploration program and understanding of Nisk to give us the best chance of success.”

In explaining why he joined Power Nickel, Beresford says: “A base jumper needs over 500 solo dives to commence in a wing suit. I’ve spent my career working on all forms of nickel sulfides across the world, working towards focusing on a higher value sub-type of nickel deposits called polymetallic Ni-Cu-PGE deposits, zoned high-grade metal deposits where copper and noble metals (PGE, Au, Ag) form equivalent value to nickel, not just credits.

The world’s two largest deposits of any metal are this type of deposit, Norilisk and Platreef. Polymetallic deposits remain the premier deposit style through market cycles. NISK has the geodynamic setting and prospect scale characteristics of a zoned metal system, so I’m looking forward to joining the Power Nickel team as we advance and transform NISK into a polymetallic deposit.”

Meanwhile, the company anticipates conducting a further flow-through private placement financing with Quebec investors through Wealth Creation Preservation & Donation. 

WCPD worked with the company on certain of its flow-through financings in 2023, as a less dilutive way for the Company to raise funds for exploration, with the common shares available for back-end purchase from the front-end flow-through purchasers. 

The company intends to use the gross proceeds for exploration activities on the company’s NISK property located in Quebec.

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 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 reorganizing 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
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.