Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) announced the return of the first 2 holes of the fall campaign. Hole PN-24-076 reported no material results. Hole PN-24-078 results are outlined in Highlights and Table 1 Below.
Highlights:
PN-24-078 returned:
29.40 m of 0.53 g/t Au, 11.95 g/t Ag, 1.15 % Cu, 1.08 g/t Pd, 0.36 g/t Pt and 0.06% Ni
Including:
11.55 m of 0.44 g/t Au, 11.55 g/t Ag, 0.59 % Cu, 1.25 g/t Pd, 0.76 g/t Pt and 0.02% Ni
which includes:
2.00 m of 0.64 g/t Au, 14.85 g/t Ag, 0.49 % Cu, 2.71 g/t Pd, 2.32 g/t Pt and 0.02% Ni,
and
4.65 m of 0.59 g/t Au, 15.83 g/t Ag, 0.97 % Cu, 1.25 g/t Pd, 0.50 g/t Pt and 0.04% Ni
And Including :
13.35 m of 0.77 g/t Au, 15.86 g/t Ag, 1.98 % Cu, 1.29 g/t Pd, 0.14 g/t Pt and 0.12% Ni
Which includes :
2.90 m of 3.16 g/t Au, 21.62 g/t Ag, 5.84 % Cu, 4.72 g/t Pd, 0.44 g/t Pt and 0.48% Ni,
and
4.00 m of 0.23 g/t Au, 35.78 g/t Ag, 2.30 % Cu, 0.73 g/t Pd, 0.11 g/t Pt and 0.03% Ni
Figure 1 below is a vertical longitudinal section, presenting the location of the recent holes drilled at the Lion Zone discovery. The highlight is put on the location of the two holes for which assay results are presented in this current release. It also highlights the position of the last two holes of the current campaign, that are to date the deepest intersections of the Lion Zone, suggesting that it remains open at depth.
Table 1 below presents the significant results of previously released holes, and the current assays. The complete set of results obtained demonstrates an enviable success rate, which contributes to a continuously increasing level of confidence about the continuity of the zone.
Table 1: Significant recent assay results obtained at the Lion Discovery zone
Figure 2 below is vertical cross-section along hole PN-24-078, presenting the location of the intersection with respect to other holes on the same section. It is notable how the overall thickness of the zone is preserved. The figure also presents a mosaic picture of the reported interval. Remarkably, as it is the case with most of the thick intersections, the zone appears to be consisting of two distinct mineralized sub-zones. Observations suggest that these two sub-zones slightly differ in terms of mineralogy; the upper one being on the PGE side, the lower one on the Copper side, where very high CuEq* grades can usually be observed over smaller intervals.
The Lion Zone has been producing a continuous stream of excellent intersections and grades building a substantial mineralized area of extremely high-grade copper, gold, silver, and platinum group metals.
“Once again Lion Zone is delivering what is expected be coming out of it… I mean, our level of understanding of the Zone, in all perspectives, is increasing at light speed with all new information being incorporate in the mix in almost real time. This is becoming more and more exciting. We are preparing the up-coming winter program, with much more flexibility given the frozen ground conditions. 2025 will also be a great year for Power Nickel!” – commented Ken Williamson, VP of Exploration.
Copper Equivalent Calculation
CuEq Rec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and a recovery grade of 80% for all commodities, consistent with comparable peers.
QAQC and Sampling
GeoVector Management Inc (“GeoVector”) is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.
All samples were submitted to and analyzed at Activation Laboratories Ltd (“Actlabs”), an independent commercial laboratory for both the sample preparation and assaying. Actlabs is a commercial laboratory independent of Power Nickel with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analyzed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES – 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 – Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.
GeoVector’s QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.
The results presented in the current Press Release are complete within the mineralized intervals, but results are still pending for the top portion of both holes reported. QAQC and data validation was performed on these portions of the holes where assays are fully integrated, and no material error were observed.
Qualified Person
Kenneth Williamson, Géo, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
