Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) has reported promising results from its 2024 summer drilling program at the Lion Zone on the company’s Nisk project.
Drilling intercepted sulphide mineralization in 10 of the 12 holes drilled to date, Power Nickel told investors.
Highlights from the program include the extension of the high-grade portion of the Lion Zone to the west, with a shallower plunge than previously expected, according to a statement from the company.
Additionally, the mineralized footprint of the zone has expanded deeper by another 150 meters vertically.
Ground-based geophysics is currently underway at the Lion Zone, with new targets from consolidated gravity and electromagnetic (EM) surveys expected to be available when drilling resumes in mid-October.
“The Lion Zone, and indeed Nisk overall, is blossoming into what we believe will be a world-class polymetallic discovery,” said CEO Terry Lynch.
“We look forward to building on this summer’s hard work and success into what we feel will be a company defining winter program.”
The expanded footprint of the Lion Zone now measures 350 meters laterally and 450 meters vertically.
Power Nickel is preparing for a fully funded 30,000-meter winter drill program, with expectations of further expanding the Lion Zone and potentially uncovering new polymetallic zones within the Nisk property.