Power Nickel Inc (TSX-V:PNPN) has announced an initial NI 43-101 resource estimate on its Nisk nickel sulphide project located in Québec’s James Bay region.
The junior exploration company said the report showed a 5.43 million tonne Indicated resource, at a weighted average grade of 1.05% nickel equivalent, along with a 1.79 million tonne Inferred resource at a grade of 1.35% nickel equivalent, using a nickel equivalent cut-off grade of 0.20% inside the open pit and 0.55% for the underground portion.
"Moving forward, Power Nickel will continue working with CVMR Inc, as they conduct a feasibility study that will review the viability of a mine at Nisk that produces not the concentrate that was modeled in this NI-43-101 but refined products," Power Nickel CEO Terry Lynch said in a statement.
"Between now and the end of Q2 2024, we anticipate continuing to drill and grow the Nisk resource and for the ongoing feasibility study to validate substantially greater recovery rates and reveal how finished products significantly improve the overall economics," he added.
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, the company owns significant land packages in British Colombia and Chile.
Contact Sean at sean@proactiveinvestors.com