Power Nickel Expands on High Grade Cu-Pd-Pt-Au-Ag Zone 5km northeast of its Main Nisk Deposit
Discovery hole had over 1 Oz/Tonne Combined Platinum and Palladium over 7.75 Metres
The initial Hole PN-23-031A (Figure 1) intersected multiple chalcopyrite stringers and veinlets, almost continuously in the first sixty (60) metres of the drill hole. The thickness and density of these stringers increased at 60.50 to 68.25 m down the hole. The main mineralization is characterized by a high density of chalcopyrite veinlets and local massive chalcopyrite (Figure 2).
The current hole encountered the zone at a depth of 168.5 m. Wildcat area represents an entirely new target to explore and is wide open laterally along strike and at depth (Figure 3). This new discovery is very significant with high-grade platinum and palladium associated with the copper. It is probable that the high-grade platinum and palladium originated in the underlying ultramafic unit and remobilized to the tonalite unit where the mineralization occurs. As the mineralization is remobilized, there is potential for discovery in a broader target area in vicinity of the ultramafic source rocks. Follow-up drilling will consider all other lithological units in addition to identifying the source mineralization in the ultramafic unit.
"We are very encouraged to extend this, what appears to be, a very high grade PGM rich zone another 100 metres downdip from initial discovery. Will need assay results to confirm, but it certainly looks very good. Subsequent holes will test the horizontal width of this zone while also testing east and west extensions. The PGM discovery adds an exciting and valuable dimension to the
"We are currently drilling this area to discover a significant volume of Copper-PGM rich mineralization, but our primary goal at Nisk is to identify and explore for ultramafic rocks hosting nickel; so, we have pushed PN-24-044 further down and intersected and untested ultramafic unit observed to the south, in the footwall of the current target. As illustrated in Figure 4, we wanted to test the Fleet ANT velocity model that was suggesting a shallower dip for the footwall ultramafic unit, and we did obtain the anticipated result confirming our interpretation. Having in hands a predictive model certainly indicates that we are having a good grasp on the geology of the system. I'm a very strong believer that a better understanding of the overall geology is the key that will lead to additional discoveries across the property." – commented
Qualified Person
On
The figure below presents a longitudinal view of the current 2023 Mineral Resource Estimate
About Us Figure 1
The NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts.
About Us Figure 2
In addition to the Nisk project,
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