Power Nickel Inc (TSX-V:PNPN) said the latest results from drill holes PN-23-029 to 035 at its Nisk project have revealed broad nickel intercepts.
The Canadian junior mining company said highlights include 0.60% nickel (Ni), 0.39% copper (Cu), 0.50 g/t palladium (Pd), and 0.11 g/t platinum (Pt) over 31.86 metres (m) in hole PN-23-035, including 1.18 % Ni, 0.8 % Cu, 1.14 g/t Pd, and 0.28 g/t Pt over 8.82m.
Other notable drill results are 0.71% Ni, 0.37% Cu, and 0.85 g/t Pd over 10.05m in PN-23-033, including1.25 % Ni, 0.36 % Cu, 1.41 g/t Pd, and 0.12 g/t Pt over 2.95m, and 0.49% Ni, 0.13% Cu, and 0.46 g/t Pd over 8.08m in PN-23-034A.
Eight holes were drilled to test distal targets east and west of the main Nisk deposit as well as to expand on high-grade intersections at Nisk Main.
"Another strong result from our Nisk main deposit, these holes will be valuable additions to the resource calculation. This concludes an amazing drill season for us at Nisk,” Power Nickel CEO Terry Lynch said in a statement.
“We are very excited now to get the drill results from over 15,000 metres of drilling incorporated into our much anticipated inaugural NI 43-101 mineral resource estimate which we expect to deliver in late Q3.”
The company said its next steps at Nisk are to deploy the Ambient Noise Tomography program, complete the analysis of the recent Airborne MAG/EM survey, ready the drilling team for start in July, receive the metallurgical studies report and publish the inaugural NI 43-101 mineral resource estimate at Nisk.
“Preliminary surveys will be conducted over our core ore zones at Nisk Main where there is a wealth of scientific data. This will enable us to correlate this exciting, advanced technology to reveal what we hope will be the identification of the next Nickel PGM Pods at Nisk," added Lynch.
Power Nickel also said that as part of its review of management and board performance, a grant of 1,600,000 options has been approved. Strike price is at $0.25 and the options vest upon grant and expire five years from the date of grant.
Contact the author at jon.hopkins@proactiveinvestors.com