Power Nickel Inc (TSX-V:PNPN) told investors it has started a second round of drilling at its Nisk project in the James Bay region of Quebec, which it believes could become Canada's next nickel mine.
The drilling comes after the filing, announced on August 30 this year, of the initial NI 43-101 mineral resource estimate (MRE) for the asset.
"We are very excited to get back to drilling and building on our resource at Nisk," said Terry Lynch, the CEO of Power Nickel in a statement. "The initial round of drilling was done largely to verify the historic resource and allow us to post the inaugural NI 43-101 Technical Report and MRE."
"This round, based on what we've learned from the MRE study, will enable us to better explore and we hope to expand the resource as we look to demonstrate Nisk has the potential to become Canada's next nickel mine," he added.
READ: Power Nickel files initial NI 43-101 resource estimate for Nisk project in Quebec
"The plan is to drill around 5,000 metres but will adjust that to opportunities on the ground. We would expect the drilling program to continue into December and we will provide updates as progress dictates," Lynch concluded.
The resource estimate, which has an effective date of May 17, 2022, showed over 2.5 million tonnes of indicated resources at 1.20% nickel-equivalent (NiEq) and 1.4 million inferred tonnes at 1.29% NiEq.
The resource was defined in both open-pit and underground mining scenarios, with the higher confidence indicated resource for open pit pegged at 894,100 tonnes at 0.33%.
Lynch said in July this year: "The resource update has clearly indicated some additional infill drilling is needed, and these holes, as well as step-out targets, are now in the process of being permitted as part of our upcoming fully funded drill program."
In February 2021, Power Nickel - then called Chilean Metals - completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp.
The Nisk property comprises a large land position - 20 kilometers of strike length - with numerous high-grade intercepts.
A very successful initial 2,400 metre (m) drill program was completed last December by Power Nickel and reported in March this year.
Power Nickel is focused on high-potential copper, gold, and battery metal prospects in Canada and Chile.
Contact the author at giles@proactiveinvestors.com