Power Nickel Inc (TSX-V:PNPN) has announced that it will be amending the technical report it filed for the Nisk project in the James Bay territory in Quebec after a review by the British Columbia Securities Commission (BCSC) noted discrepancies in the mineral resource estimates provided.
The company said its technical report titled "NI 43-101 Technical Report and Mineral Resource Estimate for the Nisk Project, Eeyou Istchee James Bay territory, Quebec" filed on August 30, 2022 does not comply with certain technical requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Products.
“The company's mineral resource estimates provided in the technical report do not comply with NI 43-101 and such mineral resource estimates, as disclosed in the technical report and Power Nickel's related news releases since July 19, 2022, may not be relied upon, until they are supported with a compliant report,” a statement from the explorer said.
READ: Power Nickel kicks off second round of drilling at Nisk project, Quebec following resource estimate
Power Nickel said it is working to prepare the amended technical report, and does not yet know when it will be able to complete it but “believes a 1Q delivery date is probable".
In addition to conducting the metallurgical analysis and the requirement for a new site visit to the project, the amended report will also include the results of the company's drill program currently underway, which is expected to be completed by mid-December 2022, it added.
The Nisk property comprises a large land position - 20 kilometers of strike length - with numerous high-grade intercepts.
Power Nickel is focused on high-potential copper, gold, and battery metal prospects in Canada and Chile.
Contact the author at jon.hopkins@proactiveinvestors.com