Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) has announced the second set of assay results from three more drill holes from its summer 2024 drilling campaign at the polymetallic Lion Zone, part of its Nisk project in Quebec.
Notably, one hole returned 32 meters with 6.97% copper equivalent, including 0.45 grams per ton (g/t) gold, 20.93 g/t silver, 3.62% copper, 8.10 g/t palladium, 2.47 g/t platinum and 0.18% nickel.
"With one of our best holes to date, it is becoming more evident that the Lion discovery is substantially bigger than we originally envisioned,” Power Nickel CEO Terry Lynch commented.
“Taking education from the holes drilled and announced earlier this week, we went further west and much shallower and struck the zone at 118 m. This is very encouraging for lots of reasons: size of zone, grade, depth of intersection, and the move westward.”
Ken Williamson, Power Nickel VP exploration, said this second batch of results confirms that deformation is more intense at depth below the Lion Zone.
“The interesting thing is that deformation intensity does not seem to have any impact on the grades obtained for the different metals,” he said.
“We have the grades, even within the relatively thin intersections, and it is fair to presume that the mineralization is being transposed into a fault zone to a nearby offset location, likely deeper to the east.
“In parallel, drilling on the west side of the zone indicates that we are still in the thicker portion of the zone; this core seems to be moderately plunging to the west.”
Williamson said that, in addition to expanding the Lion Zone with drilling, Power Nickel is in the process of compiling information from several data sources.
“We have gathered downhole EM, Gravity and Geo Chemical data which, combined with the Ambient Noise Tomography passive seismic data, should provide for a very robust drill targeting strategy session which will determine our 30,000 metre fully funded fall and winter drill program that starts October 15th," he said.