FULL DISCLOSURE: The Deep Dive is long the equity of Power Nickel.
Power Nickel (TSXV: PNPN) has released assay results from three holes from its fall drill program conducted at the Lion zone at its Nisk property. The latest holes were focused on testing both depth of the zone, as well as western extensions.
Highlights from the results include:
- PN-24-079: 20.05 metres of 4.29% copper equivalent (2.36% copper, 0.88 g/t gold, 23.2 g/t silver, 3.30 g/t palladium, 0.53 g/t platinum and 0.14% nickel) from a depth of 176.95 metres
- Including 10.25 metres of 6.26% copper equivalent (3.70% copper, 1.28 g/t gold, 33.1 g/t silver, 4.63 g/t palladium, 0.34 g/t platinum, 0.20% nickel)
- PN-24-081: 4.85 metres of 1.84% copper equivalent (0.32% copper, 0.65 g/t gold, 6.7 g/t silver, 2.10 g/t palladium, 0.76 g/t platinum, 0.06% nickel) from a depth of 348.15 metres
“These holes continue to inspire the team on how exciting the Lion zone is so far and its potential as we expect to complete the remaining 15,000 meters of drilling between now and the end of April 2025. We have 14 more holes to report from the autumn drilling program that will inform the current winter program. The assay labs have been backed up but we hope to update the market in the coming weeks with more results along with clarity around the plans and objectives for the rest of this program,” commented Terry Lynch, CEO of Power Nickel.
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Exploration under the 2025 drill program is now underway, with one drill rig currently operating. A second rig is to be added to the program in the first week of February, with a third rig to be added by mid-February. The company also continues to review data from the 2024 electromagnetic ground and borehole surveys, which is expected to identify multiple conductive targets, including extensions to the Lion zone.
Power Nickel last traded at $1.10 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Power Nickel. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
