Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) released a new round of assay results from its Lion discovery, highlighting significant expansions of high-grade copper, platinum, palladium, gold, and silver zones located near the company’s main Nisk deposit.
Highlights of the drill results include 15.4 meters at 0.44 grams per ton (g/t) gold (Au), 22.04 g/t silver (Ag), 5.06% copper (Cu), 13.12 g/t palladium (Pd), 3.35 g/t platinum (Pt), and 0.015% nickel (Ni) in one drill hole, including a 5.05-meter section at 0.61 g/t Au, 50.29 g/t Ag, 13.27% Cu, 24.62 g/t Pd, 6.73 g/t Pt, and 0.33% Ni and 3.35 meters at 0.70 g/t Au, 60.36 g/t Ag, 17.26% Cu, 25.02 g/t Pd, 3.61 g/t Pt, and 0.37% Ni.
Terry Lynch, CEO of Power Nickel, called it a “special discovery,” adding: “These are big intersections to be that high-grade and we are seeing a pattern here.”
The standout intersection is around 100 meterwide and seems to have a prospective mineralized halo around it of 50 to 75 meters, Lynch explained.
“With copper and metal prices surging, this is such a great find. We are excited to see how this discovery can grow from here.”
The hole shows “spectacular” grades, Power Nickel’s vice president exploration Ken Williamson told shareholders. “I can't wait for the drills to start turning again,” he added.
The recently concluded winter 2024 drill program yielded 15 successful holes, contributing to the ongoing progress at the Lion Discovery zone. Significant intersections confirm the high-grade potential observed.
The company plans to continue its drilling efforts in the summer, particularly following up on promising results from the deepest intersections to date.