Canadian explorer Power Nickel (TSX-V:PNPN) has intersected sulphide mineralisation in the majority of holes drilled so far in its summer campaign at the Lion Zone.
Drilling of 12 holes has extended the “high-grade” portion of the zone to the west, with a shallower plunge than what was previously anticipated.
The Lion Zone, part of the Nisk Project in Québec, has also expanded by 150m at depth.
Power Nickel says drilling has so far extended the “high-grade” polymetallic Lion Zone by 50%, with assays now in the lab and expected in late September.
CEO Terry Lynch says the 2024 summer drilling program, which started in June, had two objectives.
“One, grow the Lion Zone and two, establish a process designed by Dr Steve Beresford to maximise our ability to explore the project on a systematic basis, using approaches he used successfully with First Quantum, MMG, and IGO,” he explains.
“I am very pleased to report success in accomplishing these objectives. The Lion Zone, and indeed Nisk overall, is blossoming into what we believe will be a world-class polymetallic discovery.”
The drilling program comprised 20 holes totalling 8,000m targeting additional zones of copper, platinum, palladium, gold, silver and nickel at the Lion Zone.
The 2024 summer program focused on drilling systematically the Lion Zone using a 50 to 75m square grid approach, which allows a better understanding of the internal distribution of the high-grade polymetallic mineralization within the zone.
Power Nickel says three areas have been successfully tested so far – the area directly below the zone, expanding the zone by 150m vertically; the west boundary, where the zone appears to be thicker and more massive in nature; and below the known west boundary, following the interpreted plunge of the zone.
The Lion Zone now shows a footprint of 350m laterally and 450m vertically, which Power Nickel says represents a “significant increase in size”.
The zone hosts a resource of 7.1 million tonnes @ 1.13% nickel equivalent comprising multiple 10m-plus zones with copper up to 8%, platinum group metals of over 22 grams per tonne (g/t), gold of over 1.6g/t, and silver in excess of 69g/t.
Vice President Exploration Ken Williamson says the new information now allows Power Nickel to anticipate a much shallower westward plunging chute within the Lion Zone that will benefit both short-term drilling costs and eventually, assuming commercialisation, reduce operating costs.
“We are achieving our two objectives of growing the Lion Zone and establishing an exploration process that incorporates geologic, geophysical, and geochemical data collection,” he says.
“We believe analysis and interpretation of this data will set us up for an aggressive winter exploration program.
“We look to extend the Lion Zone, and we hope to discover other Lion Zones and find what we believe will be the big brother extensions to Nisk Main, somewhere under the Lion Zone.”
The initial Nisk Main Zone has returned wide intercepts including 18.5m @ 2% nickel equivalent and 26.6m @ 1.98% nickel equivalent.
Power Nickel says Nisk contains two distinct high-grade mineralised zones, which are separated by 5.5km.
The company believes these mineralised areas are connected below the surface, creating a potentially huge mineralised area.
Power Nickel is aiming to increase resources and enhance geological understanding, building on the NI 43-101 compliant resources comprising 5.43 million tonnes in the indicated category and 1.79 million tonnes in the inferred category.
Write to Angela East at Mining.com.au
Images: Power Nickel
