Impact: Neutral
Power Nickel (PNPN) provided an exploration update on the Lion zone discovery at its flagship, 80%-owned Nisk project in Quebec. The company has completed five holes to date, with assays pending. As the company has become more confident in the orientation of the zone, it is now stepping out more aggressively, using 150m step-outs instead of 50m. The purpose of these holes is to test the potential continuation of the Lion zone to the west and the plunging nature of the deposit along strike. The 30,000m drill program continues with two drills on site. A third drill is expected to be added after the Christmas holiday. The program will mainly focus on Lion, but will also include exploration targets between Lion and Nisk Main. Notably, the Lion zone has been intercepted across a strike length of 550m to date, which remains open to the east, west, and at depth, and is adjacent to the ultra-mafic rock unit that outcrops at surface for 1.8km. We look forward to the release of additional assays from the Lion zone, which is already rich in Cu and precious metals (PGEs, Au, Ag), and has the potential to be world-class in size (read site visit report).
