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Power Metallic Mines Inc. reports mineral exploration developments tied to its common shares traded as PNPNF in the United States and PNPN on the TSX Venture Exchange. Company updates focus on drill assays from the Lion Zone, infill drilling, structural interpretation, copper-equivalent results, and work supporting future mineral resource estimates and potential development concepts.
Recurring disclosures also cover regional exploration targets around Lion, Lion East, Lion West, Tiger, Elephant and related sulphide or gold mineralization, along with the company's Power Metallic Arabia subsidiary and the Jabul Baudan exploration license in Saudi Arabia's Jabal Said Belt. News may also include investor-relations disclosures, OTC Markets responses, and corporate actions involving mineral exploration assets.
Power Nickel (TSXV: PNPN, OTCBB: PNPNF) has announced results from 5 holes of their fall campaign at the Lion zone. Hole PN-24-095a delivered significant results with 10.60% CuEq over 5.35 metres within a broader intersection of 3.61% CuEq over 19.40 metres.
Holes PN-24-082 to PN-24-085 were drilled 100-200m west of known mineralization, returning only weak platinum and palladium values. These holes will undergo borehole EM (BHEM) surveys with an expected 'look' radius of 150-200 meters. Hole PN-24-88, testing between Lion and Lion East discovery, showed minor gold and copper values.
The company has added a second drill at the site, with a third drill planned for mid-February. This increased capacity aims to accelerate resource definition. Ongoing EM survey interpretations are expected to identify multiple conductive targets for exploration along several kilometers of strike on the mineralized structures.
Power Nickel (PNPN) and Chilean Metals have completed their strategic business reorganization through a spin-out of the Golden Ivan Property and certain Chilean assets. The arrangement, effective February 3, 2025, provides Power Nickel shareholders of record as of January 31, 2025, with one new Power Nickel share and 0.05 Chilean Metals shares for each share held.
The shareholders now own approximately 50% of Chilean Metals shares, with Power Nickel holding the remaining balance. The reorganization aims to create two specialized companies: Power Nickel focusing on the Nisk project, and Chilean Metals developing the Golden Ivan property in British Columbia and various Chilean projects. Power Nickel shares continue trading on TSXV, OTC, and Frankfurt exchanges, while Chilean Metals will operate as an unlisted reporting issuer in British Columbia and Alberta.
Power Nickel (TSXV: PNPN) (OTCBB: PNPNF) has announced that its planned spin-out arrangement will become effective on February 3, 2025. Under the arrangement, shareholders of record as of January 31, 2025, will receive one new Power Nickel share and 0.05 Spinco shares for each current share held.
The spin-out will separate the company's assets into two distinct entities: Power Nickel will focus on the Nisk project, while Spinco (Chilean Metals Inc.) will manage the Golden Ivan property in British Columbia and various Chilean assets. The Golden Ivan property consists of 13 mineral claims covering 797 hectares. Power Nickel will maintain its royalty interest in the Chilean Copaquire project.
While Power Nickel shares will continue trading on the TSXV, OTC Market, and Frankfurt Stock Exchange, Spinco shares will not be listed on any exchange but will be a reporting issuer in British Columbia and Alberta.
Power Nickel (TSXV: PNPN) has launched its 2025 winter drill campaign at the Nisk project, following successful 2024 drilling results that revealed high-grade copper and precious metal discoveries in the Lion zone. Notable intersections include:
- 14.40m of 8.15% Cu, 6.23 g/t Pd, 8.40 g/t Pt (PN-24-047)
- 32.00m of 3.62% Cu, 8.10 g/t Pd, 2.47 g/t Pt (PN-24-070)
The company plans to operate 3 drills by mid-February, targeting the Lion deposit extensions and exploring 5.5 km of previously undrilled strike between Nisk and Lion. A new discovery has been made 700m east of Lion, intersecting massive sulphides with strong nickel indications. The company has retained a geophysicist to review borehole and ground EM surveys from 2024 to identify new drill targets.
Power Nickel (TSXV: PNPN, OTCBB: PNPNF) has announced results from three holes of their fall drilling campaign at the Lion zone. The highlight includes Hole PN-24-079 which intersected 6.26% CuEq over 10.25 metres within a broader zone of 4.29% CuEq over 20.05 metres.
The company has begun its Winter 2025 drill campaign, planning to complete 15,000 meters of drilling by April 2025. They will deploy three drills by mid-February to accelerate the program. The current results validate the expected strike, dip, and plunge extensions of the Lion deposit model.
Ongoing expert interpretations of the 2024 EM ground and borehole surveys are expected to identify multiple conductive targets for exploration expansion. The company has 14 more holes from the autumn drilling program pending results.
Power Nickel (TSXV: PNPN) (OTCBB: PNPNF) has announced the appointment of Joe Campbell, BSc, P. Geo as Vice President of Exploration, replacing Ken Williamson who is returning to geology consulting. Campbell brings over 40 years of industry experience, including roles as Chief Geologist and Project Manager at major mining operations.
Campbell's extensive background includes leadership positions at Gold Terra and Western Mining's Canadian division, with expertise in various mineral deposits including nickel sulphide, gold, and copper. The appointment aligns with Power Nickel's plans to scale up exploration efforts in 2025 at their Nisk project, which spans 20 kilometers of strike length and focuses on high-grade nickel-copper PGM, gold, and silver mineralization.
Power Nickel Inc. has announced details of its planned spin-out arrangement, approved at the November 22, 2024 AGSM. The arrangement, expected to be effective around January 31, 2025, will involve shareholders receiving one new Power Nickel share and 0.05 Spinco share for each existing share held.
The company provided detailed guidance for both registered and non-registered shareholders regarding the exchange procedure. Registered shareholders holding certificated shares must submit a Letter of Transmittal, while those with uncertificated shares will receive automatic distribution.
Management expressed concerns about improper trading activities, presenting data suggesting potential naked short selling. According to their analysis, approximately 29.5% of trading on the TSXV appears to be naked shorts. The company believes this trading pattern is suppressing stock price despite positive drilling results and notable investors like Robert Friedland and Rob McEwen backing the project.
Power Nickel Inc (TSXV: PNPN) announced results from their fall drilling campaign at the Lion Zone. Hole PN-24-078 delivered significant polymetallic mineralization over 29.40 meters, including grades 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. Notable high-grade sections included 2.90 meters with 3.16 g/t Au, 21.62 g/t Ag, 5.84% Cu, and 4.72 g/t Pd. The Lion Zone shows two distinct mineralized sub-zones, with the upper zone being PGE-rich and the lower zone copper-dominant. The zone remains open at depth, with recent holes being the deepest intersections to date.
Power Nickel (PNPN, PNPNF) has announced significant drilling progress at its Lion Zone, confirming mineralization 125 meters below and 75m west of the current discovery. The latest drilling results show intersections of 7 meters (Hole 93) and 13 meters (Hole 95A) of mineralized geological unit, extending the Lion Zone's depth to 600 metres below surface.
The winter drill program continues to assess the Lion Zone's limits, with Holes 93 and 95A suggesting ongoing mineralization at depth. Hole 95A reportedly shows promising core visuals with significant thickness of mineralization, while Hole 93 represents the deepest intersection to date. The zone has consistently produced high-grade copper, gold, silver, and platinum group metals.
Power Nickel (TSXV: PNPN) announced shareholder and court approval for its planned spin-out arrangement. The company will transfer its Golden Ivan property and Chilean assets to Chilean Metals (Spinco), a wholly-owned subsidiary. Shareholders approved the arrangement with 96.81% votes on November 22, 2024.
Upon completion expected around January 31, 2025, shareholders will receive one new Power Nickel share and 0.05 Spinco shares for each current share held. While Power Nickel shares will continue trading on TSXV, OTC, and Frankfurt exchanges, Spinco shares won't be listed but will maintain reporting obligations in British Columbia and Alberta.
The spin-out aims to create two specialized companies: Power Nickel focusing on the Nisk project, and Spinco developing the Golden Ivan property and Chilean assets. The company also noted ongoing investigation into potential naked short selling affecting its stock.