Power Nickel Inc (TSX-V:PNPN) has reported significant high-grade Platinum Group Metals (PGM) intersections at its Nisk project in Quebec.
The latest results from exploration come from an area northeast of Nisk’s main deposit, and it follows a previous ‘wildcat’ success.
Power Nickel today told investors that the company's recent drilling efforts, particularly hole PN-24-047, have identified a mineralized zone rich in chalcopyrite and, for the first time, nickel-bearing pentlandite.
This mix of minerals underscores the potential wealth the Nisk project holds, the company highlighted in a statement.
“We are even more encouraged to extend what appears to be a very high-grade PGM rich zone laterally from the initial discovery,” chief executive Terry Lynch said.
“We still need assay results to confirm, but it certainly looks better and better.
“Subsequent holes will continue testing the east and west extensions. I've already alluded to this, but this PGM discovery adds an exciting and valuable dimension to the Nisk Project.”
Kenneth Williamson, Power Nickel’s VP for exploration, added: “PN-24-047 is the first lateral hit that provides us with an initial geometry and volume of the zone.
“It also was the first hole where we can see Nickel-bearing pentlandite in the massive sulfide … making a very interesting mix. Can't wait to see the assays on this one! We like what we see so we will be aggressively attacking the zone, starting with closely spaced drill holes and later with more distant step-out holes."