Impact: Positive
Power Nickel announced assays from an additional hole (PN24-055), completed as part of a 15-hole drill program at the Lion Cu-PGE zone (formerly Wildcat zone) at its 80%-owned Nisk project in Quebec. This is another hole that has returned a high-grade polymetallic interval grading 9.54% CuEq over 50.5 ft (15.4m). These results continue to help establish boundaries of the deposit, delineating a high-grade thick core surrounded by well-mineralized thinner edges. We note that the mineralized zone can be followed 725 ft (221m) laterally and 1,000 ft (305m) deep. In our opinion, these are positive results, as this new discovery continues to demonstrate high grades over sizeable widths (read here and here). We look forward to additional results, as, based on the visual observations, mineralization continues to be hit in the ongoing drill program. As noted in our initiation report, we believe continued drilling success can add further resource potential to a mineralized Cu-PGE zone, located ~5km NE of the Main Nisk Ni deposit.
