Power Nickel Inc (TSX-V:PNPN) told investors that it encountered 25 metres (m) of massive and semi-massive sulfides in the first hole of its fall drilling program at its Nisk project near Nemaska in Quebec.
The company said in a statement that the step out hole, PN-23-036, is testing the Nisk Main Deposit 300m to the south and east of previous drilling and encountered the sulfides at a downhole depth of 457m.
"Pretty as a picture. The scientific team has done a terrific job using both traditional scientific tools like Gravity, IP, Airborne and Downhole EM together with the newer Ambient Noise Tomography to guide us to an exciting new growth zone for Nisk Main,” commented Power Nickel CEO Terry Lynch.
“This SE Trend is one of three we have identified at Nisk Main and all look very promising at depth and along strike.”
Hole PN-23-036 is the first in a series of deeper holes Power Nickel has planned to test some of the best previous holes that were open at depth. It lies to the east of two of the best holes so far at the project, PN-22-009 and PN-23-035.
"The SE plunge within the mineralized horizon is a compelling observation,” the company’s vice president of exploration Kenneth Williamson added.
“Testing identified plunges at progressive deeper depths is the strategy behind these initial few holes of our fall campaign. Although the grade cannot be presumed now, successfully intersecting these massive and semi massive sulfides is a very encouraging start to our program.”
Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nisk project into Canada's first carbon-neutral nickel mine.
In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. Power Nickel is expected to reorganize these assets in a related public vehicle through a plan of arrangement.
Contact the author at stephen.gunnion@proactiveinvestors.com