Power Nickel's Lion Discovery Makes an Enormous Roar - 15.4 Metres of Over 9.5% Copper Equivalent
Company continues to expand its Near Surface High-
Highlights:
PN-24-055 returned:
15.40 m of 0.44 g/t Au, 22.04 g/t Ag, 5.06% Cu, 13.12 g/t Pd, 3.35 g/t Pt and .015% Ni
Including:
5.05 m of 0.61 g/t Au, 50.29 g/t Ag, 13.27% Cu, 24.62 g/t Pd, 6.73 g/t Pt, and 0.33% Ni
With:
3.35 m of 0.70 g/t Au, 60.36 g/t Ag, 17.26% Cu, 25.02 g/t Pd, 3.61 g/t Pt and 0.37% Ni
"This is a special discovery; these are big intersections to be that high-grade and we are seeing a pattern here. This intersection is in the high-grade wheelhouse that is plus or minus 100 metres wide and seems to have a prospective mineralized halo around it of 50-75 metres. With copper and metal prices surging, this is such a great find. We are excited to see how this discovery can grow from here," commented
"The pictures plate below (see Figure 1) is becoming more and more exciting. Not only does current hole PN-24-055 show spectacular grades, but the thickness of the intersection is also equally impressive. I can't wait for the drills to start turning again… and with guidance from Dr. Beresford, I'm eager to see what we will come up with as we expand our exploration program," stated VP Exploration
Figure 1 below presents core pictures of some of the best intersections to date. It is noticeable that the relative quantity of semi-massive chalcopyrite observed in both PN-23-031A and PN-24-044, while excellent, appeared to be dwarfed when compared to some of the other holes coming from the core of the zone. Hole PN-24-047 and PN-24-053 recently confirmed this observation, which is well supported by the results obtained for PN-24-055 (this release).
The Company's winter 2024 drill program ended with 15 successful holes at the Lion Discovery. Additional assays released keep supporting the ongoing progress on the discovery that has been made (see Figure 2 below).
Table 1 below presents the significant results of previously released holes, and the current Assay Status for the remaining holes of the program.
Table 1 : Significant Results and Assay Status – Lion Discovery drilling winter 2024
(Holes presented in this release are shaded in grey)
Hole |
From |
To |
Length |
Au |
Ag |
Cu |
Pd |
Pt |
Ni |
CuEq Rec* |
PN-23-031A |
60.50 |
68.25 |
7.75 |
0.28 |
n/a |
1.47 |
5.71 |
20.76 |
n/a |
9.45 |
PN-24-044 |
160.25 |
176.00 |
15.75 |
1.60 |
25.34 |
2.52 |
2.73 |
0.65 |
0.19 |
4.48 |
Including |
160.25 |
162.65 |
2.40 |
3.27 |
51.18 |
1.49 |
0.20 |
0.01 |
0.03 |
3.94 |
Including |
169.45 |
176.00 |
6.55 |
2.59 |
40.27 |
5.33 |
6.35 |
1.50 |
0.43 |
9.06 |
with |
169.45 |
170.05 |
0.60 |
24.30 |
5.70 |
5.29 |
3.26 |
0.29 |
3.31 |
22.27 |
and |
173.60 |
176.00 |
2.40 |
0.60 |
103.62 |
12.12 |
13.27 |
2.52 |
0.22 |
16.39 |
PN-24-047 |
143.98 |
158.40 |
14.42 |
0.59 |
69.14 |
8.17 |
6.25 |
8.44 |
0.58 |
12.14 |
Including |
148.00 |
152.66 |
4.66 |
0.85 |
91.00 |
11.66 |
8.42 |
6.69 |
0.46 |
15.50 |
Including |
154.25 |
157.26 |
3.01 |
0.95 |
167.46 |
17.33 |
13.04 |
29.24 |
1.77 |
29.02 |
PN-24-048 |
147.00 |
162.27 |
15.27 |
0.50 |
16.13 |
1.89 |
7.07 |
1.26 |
0.80 |
4.86 |
Including |
148.00 |
153.00 |
5.00 |
0.94 |
12.76 |
1.14 |
14.23 |
2.92 |
0.06 |
7.55 |
Including |
159.55 |
161.25 |
1.70 |
1.27 |
99.84 |
12.30 |
15.45 |
0.60 |
0.38 |
17.17 |
PN-24-050 |
178.40 |
183.85 |
5.45 |
Pending internal QAQC and verifications |
||||||
PN-24-051 |
232.40 |
243.80 |
11.40 |
0.24 |
13.95 |
2.51 |
3.20 |
19.59 |
0.18 |
9.14 |
Including |
232.40 |
235.00 |
2.60 |
0.40 |
41.18 |
8.09 |
8.37 |
84.75 |
0.54 |
34.77 |
Including |
238.00 |
242.90 |
4.90 |
0.23 |
7.53 |
1.32 |
2.47 |
0.53 |
0.12 |
2.30 |
PN-24-052 |
183.50 |
194.85 |
11.35 |
0.26 |
6.12 |
0.63 |
1.57 |
0.67 |
0.04 |
1.48 |
Including |
183.50 |
185.50 |
2.00 |
0.93 |
13.95 |
1.01 |
3.67 |
2.59 |
0.03 |
3.62 |
Including |
192.00 |
194.85 |
2.85 |
0.22 |
10.44 |
1.36 |
3.54 |
0.82 |
0.08 |
2.82 |
PN-24-053 |
128.30 |
133.30 |
5.00 |
1.76 |
102.90 |
12.70 |
20.87 |
1.02 |
0.40 |
19.89 |
Including |
129.30 |
131.55 |
2.25 |
2.37 |
133.68 |
19.85 |
31.78 |
0.86 |
0.37 |
30.10 |
PN-24-054 |
60.00 |
75.50 |
15.50 |
Pending internal QAQC and verifications |
||||||
PN-24-055 |
75.50 |
90.90 |
15.40 |
0.44 |
22.04 |
5.06 |
13.12 |
3.35 |
0.15 |
9.54 |
Including |
84.85 |
89.90 |
5.05 |
0.61 |
50.29 |
13.27 |
24.62 |
6.73 |
0.33 |
21.02 |
with |
86.55 |
89.90 |
3.35 |
0.70 |
60.36 |
17.26 |
25.02 |
3.61 |
0.37 |
23.36 |
PN-24-056 |
196.30 |
204.85 |
8.55 |
Pending internal QAQC and verifications |
||||||
PN-24-057 |
174.60 |
177.40 |
2.80 |
Pending internal QAQC and verifications |
||||||
PN-24-058 |
200.60 |
204.70 |
4.10 |
Pending internal QAQC and verifications |
||||||
PN-24-059 |
196.80 |
201.25 |
4.45 |
Samples in preparation for analysis |
||||||
PN-24-060 |
230.00 |
231.60 |
1.60 |
Samples in preparation for analysis |
||||||
PN-24-062 |
343.30 |
345.00 |
1.70 |
Samples in preparation for analysis |
Note: Length is presented as downhole distance; true width corresponds to 60-80% of such downhole distance in function of the orientation of the hole. 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 commodity, consistent with comparable peers. |
From the available data and observations, the mineralized zone can be followed 225m laterally and 300m deep. The thickness of the massive chalcopyrite zone varies, ranging from up to 5-6 m true width in the core of the zone to less than 1 meter laterally. The core of the zone appears to be sheared and highly altered locally; considering the overall geological context in which the zone is hosted, and the knowledge acquired at Nisk Main, some degree of deformation is to be expected. In such scenario, hole PN-24-055 represents a near surface intersection through the core of the zone. 3D modeling and interpretation of secondary lithologies (dykes, sub-units) and structures from core logging and geochemistry data is ongoing as more results become available.
Figure 3 below is a 3D view of the
QAQC and Sampling
All samples were submitted to and analyzed at
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 Released 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
About
The NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts.
In addition to the Nisk project,
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