Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) announced high-grade assay results from its 2024 winter drill program at the Lion Discovery zone, revealing multi-element mineralization and a substantial expansion of the mineralized zone.
The Lion zone is on the Nisk property, located in Quebecc.
The latest results include 10.39 meters of 0.19 g/t gold, 14.17 g/t silver, 2.12% copper, 2.08 g/t palladium, 0.4 g/t platinum, and 0.14% nickel.
Those results include a 4.05-meter section with even higher concentrations of these metals, suggesting a robust and massive mineralized core surrounded by a halo of stringer zones, the company said in a statement.
The winter drill program, which concluded with 15 successful holes, has expanded the Lion Zone by over 90% from previous estimates, now measuring 300 meters deep by 225 meters wide.
"Our 2024 winter drilling program was very productive and holes 50 and 60 add a significant amount of positive mineralization,” CEO Terry Lynch said.
The program also helped Power Nickel understand the orientation of the Lion Zone and how the high grade is distributed, Lynch noted.
“With the addition of these last holes from our winter program, we now see the mineralized zone increasing by over 90% from our first approximation of the Lion Zone's dimension,” he said.
Power Nickel is continuing its exploration efforts with a summer drilling program focused on extending the mineralization at depth and to the west. Assay results from this ongoing work are expected by late September.