Power Nickel Inc (TSX-V:PNPN) said it has retained Karbon-X Corp to retire 159 high-quality Verra VCU (verified carbon units) offsets as it prepares for up to 40,000 metres of drilling in its 2023 drill program.
The company said the 159 carbon offsets will counteract 159 tonnes of greenhouse gas (GHG) emitted by the burning of 60,000 litres of diesel in its exploratory drilling operations and represents its commitment to offsetting its drilling program in the years to come.
"These offsets will neutralize the diesel fuel we will use to drill approximately 40,000 metres of drilling,” Power Nickel CEO Terry Lynch said in a statement.
“It symbolizes our goal of creating the world's first carbon-neutral nickel mine at our Nisk Project in Nemaska Quebec. Karbon X and its DrillGreen.ca initiative makes a lot of sense to us.”
READ: Power Nickel says Nisk deposit drilling continues to show high-grade nickel-copper-cobalt sulfide and PGE mineralization
Karbón-X Corp is a tech-based carbon marketing company specializing in the sale of carbon offsets to offset greenhouse gas emissions from industrial applications and also for everyday citizens that are dedicated to reducing their impact on the planet.
The company invests in green projects with the potential to generate carbon offsets, which will eventually be marketed through the mobile APP. Karbon-X provides an opportunity for their online social media community to support projects that are important to them and that positively impact the planet.
"The offsetting of industrial applications is a key part of the business of Karbon-X. It will take both industrial and personal offsetting to foster environmental change,” Karbon-X CEO Chad Clovis said. “It is very encouraging to see companies like Power Nickel leading the charge in their industry. I see a very bright future for carbon offsetting of exploratory drilling in Canada and abroad.”
GHG emissions
Power Nickel explained that one carbon offset represents the reduction, removal, or avoidance of one metric tonne of GHG emissions from a certified project. Each offset is certified by a third-party verification board to ensure the project's efficacy and is identified by a unique serial number.
When organizations and individuals purchase carbon offsets to reduce their carbon footprint, the offset is taken out of circulation. This process is referred to as retiring and ensures that each offset can only be claimed once.
"Miners are amongst the most environmentally friendly people I know and we need to start showing the world we can and will find responsible ways to find the materials needed to power the greening of our economy,” Lynch concluded. “This is a modest first step for us and I would hope other miners will follow our lead.”
Power Nickel is a junior explorer focused on high-potential copper, gold, and battery metal prospects in Canada and Chile. Its NISK property comprises 20 kilometres (km) of strike length with numerous high-grade intercepts.
The company wants to expand the current high-grade nickel-copper PGE mineralization Ni 43-101 resource with a series of drill programs designed to test the initial Nisk discovery zone and to explore adjacent potential nickel deposits.
Contact the author at stephen.gunnion@proactiveinvestors.com