
Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) announces 3 additional holes from the fall campaign. These holes were testing the depth and western extensions of the Lion zone.
Hole PN-24-079 tested the interpreted plunge of the Lion zone below Hole PN-24-078 (news release December 18, 2024), and intersected the main high grade zone.
Hole PN-24-080, drilled approximately 75 meters further west from hole PN-24-79, intersecting the mineralized horizon above the interpreted plunge of the zone and only returned sporadic metal values (0.38% Cu, 0.213 g/t Pd and 0.36% Cu in separate assays).
Drill hole PN-24-081 tested approximately 100m below hole PN-24-080 and caught the top edge of the main Lion Zone returning 4.85 meters of 1.85% CuEq1.
Results are outlined in Table 1 below.
Figure 1: Longitudinal view across the Lion Zone Area, presenting the CuEq Rec x meters, with interpreted plunge direction extension
(CNW Group/Power Nickel Inc.)
Table 1 below presents the significant results of the current assays.
Previously released results are included at the end of this news release (Table 2). The current results validate the expected strike, dip and plunge extensions to the Lion deposit model and increase the level of confidence about the continuity of the zone.
Table 1: Significant assay results from this news release – Lion zone
The Lion Zone continues to provide excellent intersections and grades, conforming to interpreted geological modeling, and extending the mineralized area of the high-grade copper, gold, silver, and platinum group metals within the Lion zone.
2025 Drill Program Underway
The 2025 program is now underway, with a technical crew carrying out core cutting of the remaining December drill core, preparing winter drill roads and pads, and upgrading the core logging and sampling facilities to manage multiple drills. The drill contractor has collared the first drill on to the initial 2025 drill site.
By the first week of February a second drill will be operating, and by mid-February a third drill will be added. The increased drill capacity will allow for a much quicker turnaround of drill results, building the potential mineral resource in a shorter time
In addition to the drilling program, ongoing expert interpretations of the 2024 EM ground and borehole surveys is expected to identify multiple conductive targets that will allow for a much greater expansion of the exploration effort.
The EM is expected to identify extensions to the Lion zone as well as providing additional targets of similar zones along several kilometers of strike on the mineralized structures. The geophysical targets promise to keep the additional drills busy during this winter’s drill campaign.
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