Impact: Mildly Positive
Power Nickel announced assays from three additional holes (PN24-048, -052, and -053), 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. All three holes returned high-grade polymetallic intervals grading up to 19.89% CuEq over 5m. The results helped in establishing boundaries of the deposit, delineating a high-grade thick core surrounded by well-mineralized thinner edges. Mineralization starts from surface and extends 225m laterally and 300m deep. In our opinion, these are positive results, demonstrating that this new discovery continues beyond the initial holes (read note). 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.
