Power Nickel drills 40 metres at 4.2% copper equivalent at Lion zone

Calling it “the biggest intersection yet,” Power Nickel (TSXV: PNPN; OTCBB: PNPNF) said that recent drilling at the Lion zone at the Nisk polymetallic property returned 39.6 metres grading 4.19% copper equivalent.

Hole 71 intersected 39.6 metres grading 0.38 g/t gold, 2.62% copper, 3.38 g/t palladium, 0.80 g/t platinum, and 0.13% nickel. The intersection included 11.6 metres of 0.88 g/t gold, 49.9 g/t silver, 8.25% copper, 9.57 g/t palladium, 2.64 g/t platinum, and 0.34% nickel, including 3 metres of 1.56 g/t gold, 64.04 g/t silver, 10.39% copper, 11.42 g/t palladium, 7.90 g/t platinum, and 0.32% nickel.

“This is incredibly rich in metal contained. We are expecting to deliver more of these types of holes as we finish off the last of our summer drill program. The Lion zone is showing impressive grades and overall thickness and doing this consistently,” said CEO Terry Lynch.

Power Nickel is already more than a week into its fully funded fall-winter drilling program. Further assays will be shared as they become available.

The Nisk project is located 55 km east from the Cree Nation of Nemaska community in the Eeyou Istchee James Bay territory of Quebec. The property covers 46 km² and contains multiple targets.

Resources were calculated last year for both open pit and underground resources. The indicated open pit resource is 519,000 tonnes grading 0.63% nickel, 0.04% cobalt, 0.3% copper, and 0.56 g/t palladium (0.84% nickel equivalent). The indicated underground resource is 4.9 million tonnes at 0.78% nickel, 0.05% cobalt, 0.42% copper, and 0.78 g/t palladium (1.07% nickel equivalent). The inferred underground resource is 1.8 million tonnes at 0.98% nickel, 0.06% cobalt, 0.45% copper, and 1.11 g/t palladium (1.35% nickel equivalent).  

Click this link to read Power Nickel’s corporate presentation.