Premium Nickel Resources announces an upsize to its previously disclosed non-brokered private placement offering from C$15 million to C$27.5 million due to strong shareholder interest. The offering price remains at $0.78 per Unit. The initial tranche, expected to close around June 14, 2024, will generate approximately C$15 million, while the final tranche aims to close on or about June 21, 2024. This offering is subject to necessary approvals from the TSX Venture Exchange. The securities are not being offered in the U.S. due to regulatory restrictions.
Premium Nickel Resources (TSXV: PNRL, OTCQX: PNRLF) has announced new assay results from drilling at its Selebi North underground mine in Botswana. Key highlights include 17.55 meters grading at 3.28% NiEq (2.07% Ni, 1.98% Cu, 0.11% Co) from hole SNUG-24-089 and 28.60 meters grading at 1.95% NiEq (0.84% Ni, 1.96% Cu, 0.04% Co) from hole SNUG-24-081. These results will be integrated into the forthcoming NI 43-101 compliant Mineral Resource Estimate, expected this June. A total of 35,246 meters have been drilled to date, with 92 drillholes completed and more assays forthcoming. The aim is to upgrade inferred resources to indicated resources and incorporate this data into a NI 43-101 compliant Prefeasibility Study to optimize initial mine life estimates.
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