Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) has released promising assay results from its latest drilling at the Lion Zone, located northeast of the main Nisk Deposit.
The high-grade assays from holes PN-24-056 to PN-24-059 indicate significant polymetallic mineralization near the surface.
Highlights include an impressive section yielding 1.91 grams per ton (g/t) gold, 73.48 g/t silver, 9.88% copper, 6.23 g/t palladium, 4.56 g/t platinum, and 0.49% nickel over 5.59 meters within a broader 17.25-meter section. Another section returned 8.27 meters averaging 0.19 g/t gold, 7.12 g/t silver, 0.64% copper, 3.43 g/t palladium, 0.84 g/t platinum, and 0.25% nickel.
"Another exciting set of holes from the Lion Zone,” Power Nickel CEO Terry Lynch said in a statement.
Lynch highlighted the potential of the Lion Zone, noting the consistency in high-grade mineralization as exploration progresses deeper.
VP of Exploration Ken Williamson emphasized the importance of these findings in understanding the polymetallic nature of the zone, with hole PN-24-059 representing the thicker core.
“All information is good information at this point, and we are constantly learning more and more about this new polymetallic zone," Williamson added.
The Nisk property spans 20 kilometers and features numerous high-grade nickel-copper PGE intercepts. Power Nickel is conducting drill programs to expand this mineralization and explore for adjacent deposits. Additionally, the company holds significant land in British Columbia and Chile, which it plans to reorganize under a related vehicle through a Plan of Arrangement, pending shareholder approval.