Lion Zone Discovery Roars Again ! - 19.6 Metres @ 3.82% CuEq
Rhea-AI Summary
Power Nickel (PNPN) has announced significant drilling results from its Lion Zone discovery. Hole PN-24-072 yielded impressive results with 19.60 meters of 3.82% CuEq, including 1.27 g/t Au, 20.30 g/t Ag, 2.53% Cu, 1.01 g/t Pd, 2.42 g/t Pt, and 0.15% Ni. The company continues its westward expansion with two active drills on site, demonstrating strong lateral continuity of the zone. The summer drilling program utilized a 50-metre fan drilling approach, while fall and winter programs are successfully executing 150-plus metre step-outs using downhole EM technology.
Positive
- Hole PN-24-072 showed high-grade mineralization with 19.60m @ 3.82% CuEq
- Successful westward expansion of the Lion Zone with consistent high-grade results
- Enhanced exploration efficiency using downhole EM technology with 200-metre radius insight
- Strong lateral continuity demonstrated in drilling results
Negative
- None.
News Market Reaction
On the day this news was published, PNPNF gained 1.73%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Hole 72 delivers 19.60 metres with
19.60 m of 1.27 g/t Au, 20.30 g/t Ag, 2.53 % Cu, 1.01 g/t Pd, 2.42 g/t Pt and
"The summer of 2024 will be remembered as an epic one regarding ongoing discovery of the Lion Zone. The westward expansion has continued to produce some fantastic results. Following up 32 metres of almost
Highlights:
PN-24-072 returned:
19.60 m of 1.27 g/t Au, 20.30 g/t Ag, 2.53 % Cu, 1.01 g/t Pd, 2.42 g/t Pt and
Including:
12.50 m of 0.31 g/t Au, 16.22 g/t Ag, 3.01 % Cu, 1.49 g/t Pd, 3.14 g/t Pt and
which includes:
4.50 m of 0.53 g/t Au, 32.71 g/t Ag, 6.40 % Cu, 3.74 g/t Pd, 5.73 g/t Pt and
PN-24-074 returned:
23.55 m of 0.15 g/t Au, 3.06 g/t Ag, 0.60 % Cu, 0.02 g/t Pd, 0.13 g/t Pt and
Including:
7.00 m of 0.06 g/t Au, 3.37 g/t Ag, 0.18 % Cu, 0.01 g/t Pd, 0.15 g/t Pt and
And including:
2.50 m of 1.27 g/t Au, 18.57 g/t Ag, 5.10 % Cu, 0.13 g/t Pd, 0.78 g/t Pt and
PN-24-075 returned:
19.20 m of 0.14 g/t Au, 5.45 g/t Ag, 1.04 % Cu, 0.53 g/t Pd, 1.22 g/t Pt and
Including:
3.40 m of 0.60 g/t Au, 13.02 g/t Ag, 0.24 % Cu, 3.60 g/t Pd, 3.38 g/t Pt and
And including:
3.05 m of 0.23 g/t Au, 15.29 g/t Ag, 5.31 % Cu, 0.27 g/t Pd, 4.36 g/t Pt and
Figure 1 below is a vertical longitudinal section, presenting the location of the recent holes drilled at the Lion Zone discovery.
Table 1 below presents the significant results of previously released holes, and the current assays. The complete set of results obtained demonstrates a tremendous success rate, which contributes to a continuously increasing level of confidence about the continuity of the zone.
As presented by Figure 1 above, two drills are on site and actively targeting expansions to the Lion Zone, continuing to expand the zone to the west (current hole PN-24-082) as well as exploring promising ground some 250m east of the Lion Discovery itself (PN-24-088). Samples will be expedited to the lab and results will be released as they are received. Results obtained to-date continue to demonstrate the lateral continuity of the zone to the west, resulting in a significant increase in size compared to the beginning of this current drill program.
"We are impressed with what we have discovered so far, given the impressive grades and polymetallic nature of the deposit. We are ramping up our exploration efforts using different proven geophysical and geochemical techniques and we are actively processing the data. This will accelerate the expansion and discovery process, thus enabling us to step out away from the current zone with a much higher level of confidence," commented Ken Williamson, Vice-President Exploration.
Note: Length is presented as downhole distance, as gathered from preliminary "quick logs"; true width corresponds to 60 |
Figure 2 below is a cross-section through the Lion Zone, along the holes reported in this current release, presenting the new assay results in their geological context. Core photos provide visual support, allowing appreciation of the good correlation between sulphides presence and reported polymetallic grades.
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 analysed using RX-1 (Dry, crush (< 7 kg) up to
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 errors were observed.
The Company also announces that it previously granted 600,000 options to an officer of the Company on September 9, 2024 at
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.
On Remembrance Day, we honour those who gave their lives to serve our country.
Power Nickel would like to offer our thanks to the men and women of the Canadian Armed Forces that have served this country so honorably over our history. On this day we remember their sacrifice and salute their courage.
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into
On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to
In addition to the Nisk project, Power Nickel owns significant land packages in British
To obtain Power Nickel's Corporate Presentation, please use the link below:
http://powernickel.com/corporate_presentation.pdf
For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Neither the TSX Venture Exchange nor it's Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others, the timing for the Company to conduct various drill programs; raise sufficient capital to fund its obligations under its property agreements going forward; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
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SOURCE Power Nickel Inc.
FAQ
What were the key drilling results from Power Nickel's (PNPNF) Lion Zone in November 2024?
How is Power Nickel (PNPNF) expanding its Lion Zone exploration in 2024?
What is the recovery grade used in Power Nickel's (PNPNF) CuEq calculations?
