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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 Inc. (TSXV: PNPN) (OTCBB: PNPNF) has announced assay results from the first five holes of its summer 2024 drilling campaign at the polymetallic Lion Zone discovery. Highlights include:
- PN-24-063: 5.00 m of 5.93% CuEq, including 3.00 m of 7.10% Cu
- PN-24-066: 12.05 m of 2.97% CuEq, including 3.00 m of 1.95% Cu
- PN-24-067: 12.15 m of 2.36% CuEq, including 2.35 m of 7.41% Cu
The results were obtained from targets outside the main Lion Zone in the Halo area. The company has since retargeted drills at a lower pitch further west, finding the main Lion Zone again. Assays on these new holes are pending. The company expects to report on the remaining holes in October.
Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) reports successful expansion of the Lion Zone polymetallic discovery at its Nisk project. Key highlights:
- 10 out of 12 summer drill holes intercepted sulphides mineralization
- Lion Zone expanded westward and 150m deeper vertically
- Footprint now reaches 350m laterally and 450m vertically
- Massive chalcopyrite zone thickness ranges from 5-10m in core to 1m laterallyShallower westward plunge discovered, potentially reducing future costs
- Ground-based geophysics underway with new targets expected mid-October
- Fully funded 30,000m winter drill program planned
CEO Terry Lynch states the Lion Zone is developing into a 'world-class polymetallic discovery'. Assay results from promising holes expected late September.
Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) announced its participation in the Red Cloud webinar series on September 4, 2024. CEO Terry Lynch will discuss recent drilling results from the Nisk Project and plans for the rest of the year. The company also unveiled several marketing initiatives to increase investor awareness:
1. Retained Capital 10X for video production ($7,500/month for 12 months)
2. Engaged The Market Mindset Investment Media for content creation ($50,000 for 6 months)
3. Hired Empire Market Ventures for investor awareness ($150,000 USD)
4. Engaged Resource Stock Digest for interviews and news distribution ($40,000 USD)
These efforts aim to showcase Power Nickel's developing story and the Nisk Polymetallic Project to the investor community.
Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) has announced high-grade multi-element assay results from its 2024 winter drill program at the Lion Zone. Highlights include:
- PN-24-060: 10.39 m of 2.12% Cu, 2.08 g/t Pd, 0.4 g/t Pt, 0.14% Ni
- PN-24-050: 5.45 m of 0.61% Cu, 1.32 g/t Pd, 0.52 g/t Pt, 0.11% Ni
The Lion Zone mineralization has expanded by over 90%, now measuring approximately 300 meters deep by 225 meters wide. The company continues its summer drilling program, focusing on depth and lateral continuity to the west of the known mineralization. Assay results from promising holes are expected in late September.
Power Nickel Inc. (PNPNF) has provided an update on its exploration program at the Nisk Property in Quebec. The company is conducting downhole and ground-based geophysical surveys to identify new prospective areas and potential continuity between Nisk Main and the Lion Zone. The exploration strategy includes:
1. Downhole EM surveys from 'Platform Holes' to identify high-grade sulphides mineralization
2. Ground-based geophysics, including gravity and EM surveys
3. Integration of new datasets into a 3D model
The company has deployed a second drill at Nisk Main and plans to drill at least three platform holes. Ground-based EM and gravity surveys are ongoing at the Lion Zone and across the property. Power Nickel aims to define the relationship between Nisk Main and Lion Zone mineralogy to improve targeting for new discoveries.
Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) has appointed Dr. Steve Beresford to its board of directors. Dr. Beresford, an internationally recognized geoscientist, brings extensive experience as former Chief Geologist at major mining companies and expertise in magmatic Nickel-Copper-PGE deposits. His appointment strengthens Power Nickel's technical capabilities for exploring the Nisk project.
The company has also granted 4,300,000 incentive stock options to directors and consultants at an exercise price of $0.66 per common share, with terms ranging from two to five years. Power Nickel will host a podcast on August 6th to discuss ongoing exploration at Nisk with Dr. Beresford and the company team.
Power Nickel announced the closure of its over-subscribed $20 Million Flow-Through Offering, raising $20,062,497.50. The offering saw participation from prominent mining investors Robert Friedland, Rob McEwen, CVMR, and Terra Capital. A total of 16,049,998 flow-through units were issued at $1.25 per unit, each consisting of one flow-through common share and half of a share purchase warrant, exercisable at $1.25 per share for three years. The funds will be utilized for exploration activities on Power Nickel's Nisk property in Quebec. The offering awaits final TSX Venture Exchange approval and includes a hold period of four months plus one day from issuance. The company paid $387,239.64 in commissions and advisory fees and issued 265,027 finder warrants.
Power Nickel has announced a flow-through offering to raise up to $20 million through the issuance of 16 million flow-through units priced at $1.25 each. Each unit consists of one flow-through common share and half a share purchase warrant. This financing is backed by renowned mining investors, including Rob McEwen. The funds will be used for exploration activities at Power Nickel's Nisk property in Quebec and to qualify for the federal critical mineral exploration tax credit. The company expects to close the financing by the end of June, pending TSX Venture Exchange approval. Additionally, Power Nickel has closed a previous flow-through financing of $200,000, issuing 250,000 units at $0.80 each.
Power Nickel has launched its 2024 summer drill program, targeting 8,000 meters of drilling at the Lion Zone within its Nisk Property in Nemaska, Quebec. The program aims to explore additional mineralized zones rich in Copper, Platinum, Palladium, Gold, Silver, and Nickel. Following recent successful results, the initial focus will be on deeper and lateral extensions of the Lion Zone. Two untested EM anomalies have also been identified to the east of Lion Zone. Expansion efforts will also cover the Nisk Main zone, with intentions to explore beneath high-grade shoots and further east. Renowned polymetallic explorer Steve Beresford has joined as a special advisor to guide and accelerate exploration.
Power Nickel released high-grade multi-element assay results from its Lion Zone exploration, with notable findings from hole PN-24-059 showing 1.91 g/t Gold, 73.48 g/t Silver, 9.88% Copper, 6.23 g/t Palladium, 4.56 g/t Platinum, and 0.49% Nickel over 5.59 meters.
Other significant results include hole PN-24-058 with 8.27 meters of 0.64% Copper and 3.43 g/t Palladium, and hole PN-24-057 with 5.20 meters of 2.57% Copper and 5.72 g/t Palladium.
The company plans to continue drilling in the Lion Zone during the summer season. Assays from 15 successful holes support ongoing progress and potential expansion of the near-surface high-grade zone, situated 5km northeast of the Nisk Deposit.
GeoVector Management is overseeing the drilling program, with samples analyzed by the independent lab, Activation Laboratories.