Power Nickel Inc (TSX-V:PNPN) has said it continues to report new productive results from its Phase 2 drill program at its Nisk project near James Bay, with initial drill results confirming the presence of high-grade Ni-Cu-Co-PGE (Nickel-Copper-Cobalt-Platinum Group Elements) mineralization in the main zone.
The company noted that mineralization extends by an additional 150 metres at depth and to the east and below the central portion at the Nisk Project, which is located in the southern portion of the Eeyo Istchee James Bay territory, Québec.
Fourteen holes were completed in the fall of 2022 for the second phase of drilling at Nisk and an additional seven holes have been completed in the winter 2023 drill program, the company said, adding that the current results comprise mineralized target for five holes, namely PN-22-011, PN-22-012, PN-22-014, PN-22-017 and PN-22-018.
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Significant results from PN-22-014 have confirmed the presence of nickel mineralization in the areas defined as targets. Such assay indicates that the mineralization extends to a minimum of 150 metres below the deepest know intercepts, the company said.
"The results in Holes PN-22-011 and PN-22-012 were significant, maintaining a very high NIEQ Flow that is continuing at depth. Peripheral holes PN-22-014, and PN-22-017 showed to be just outside the river of nickel but even so had some interesting kicker zones. Adding these holes to holes 22-009 from earlier in the campaign and PN-21-003A from the first drill program and we are seeing a very robust drill response,â Terry Lynch, Power Nickel CEO, said in a statement.
âWe have now reported on ten (10) of the fourteen (14) holes drilled in the Fall 2022 Campaign and have another ten (10) holes to come with perhaps another ten (10) completed by the end of the winter 2023 program. At that time, we will have the results of our new metallurgical report and would we expect to be in a position to deliver a NI 43-101 technical report by end of June or early July," he added.
Significant results from this batch of assays include:
- 10.25 metres of 1.4% Ni, 0.88% Cu, 0.09 Co, and 2.52 g/t Pd (palladium), 0.56 g/t Pt (platinum)in PN-22-012 including
- 6.85 metres 1.93% Ni, 1.06% Cu, 0.12 Co, and 3.60 g/t Pd, 0.29 g/t Platinum in PN-22-012
- 5.2 metres 0.99% Ni, 0.68 Cu, 0.06 Co, and .99 g/t Pd, 0.52 g/t Pt in PN-22-011
- 3.5 metres of 1.23% Ni, 0.73% Cu, 0.07 Co and 3.17 g/t Pd, 0.36 Pt in hole PN-22-014
- 3.2 metres of 1.15% Ni , 0.39% Cu, 0.09 Co and .83 g/t Pd, 0.10 Pt in hole PN-22-017
Drilling is ongoing and expected to continue through to break-up in late April or in early May.
Power Nickel completed the acquisition of its option to acquire up to 80% of the Nisk Project from Critical Elements Lithium Corp (TSX-V:CRE, OTCQX:CRECF). The Nisk Project comprises a large land position with 20 kilometres of strike length with numerous high-grade Nickel intercepts.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold and battery metal prospects in Canada and Chile.
Contact the author at jon.hopkins@proactiveinvestors.com