Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) announced the results of five drill holes from its fall exploration campaign at the Lion Zone, confirming the extension of high-grade mineralization and paving the way for an expanded winter drilling program.
The standout result, which tested the interpreted plunge of the Lion Zone, returned 19.4 meters of mineralization grading 4.29% copper equivalent, including a higher-grade interval of 5.35 meters at 10.6% copper equivalent.
"Drilling results like this have become routine at the Lion Zone but anyone in the industry knows they are anything but routine,” said Power Nickel CEO Terry Lynch in a statement.
Other drill holes tested extensions west of known mineralization but yielded only weakly anomalous platinum and palladium values, according to the company. However, these holes serve as platforms for borehole electromagnetic (BHEM) surveys, which will provide a 150 to 200 meter radius “look” for potential off-hole conductors indicative of mineralization.
A separate hole targeted an airborne EM anomaly between Lion and the Lion East discovery but encountered only minor gold and copper values. A partial BHEM survey revealed a potential off-hole anomaly, which the company plans to test in the coming weeks.
“Borehole EM has become a primary tool for discovery,” said Joe Campbell, Power Nickel’s vice president exploration. “Predicting the location of the Lion East discovery was a true acid test of the method,” Campbell noted, adding that identified conductors have “a very good chance to be sulphides.”
Power Nickel is ramping up its winter 2025 drill campaign, adding a second drill to test Lion East and conduct further BHEM surveys. A third drill is expected to arrive by mid-February to accelerate resource delineation.
The company is also analyzing 2024 geophysical survey data to identify additional conductive targets along several kilometers of mineralized structures.