Power Nickel Enhances High-Grade Polymetallic Lion Zone Discoveries

Exciting Developments in Power Nickel's Drilling Program

Power Nickel Inc. (TSXV: PNPN) is thrilled to share significant findings from its summer drilling program at the Lion Zone. The company successfully drilled 12 holes, 10 of which encountered promising sulphide mineralization, indicating a major step forward in the exploration of this high-grade polymetallic region.

Highlights from the Summer Drilling Program

During the recent drilling activities, several intriguing developments have come to light. The high-grade portion of the Lion Zone has been found to extend westward at a shallower angle than previously expected. This was particularly evident in the drilling results from holes PN-24-069 to PN-24-074. Moreover, other holes, such as PN-24-063 to PN-24-068, revealed that the Lion Zone continues at depth, increasing its footprint vertically by an impressive 150 meters.

Geophysical Surveys and Future Prospects

In conjunction with the drilling, ground-based geophysical surveys are currently in progress at the Lion Zone. The data gathered from the gravity and electromagnetics (EM) surveys will guide future drilling efforts set to commence in mid-October, post the customary month-long break. CEO Terry Lynch expressed his satisfaction with the success of the drilling program, noting its positive impacts on both establishing a systematic exploration process and expanding the zone’s footprint.

Understanding the Lion Zone Expansions

Simplifying the exploration strategy, the summer drill program has been systematically targeting the Lion Zone utilizing a 50 to 75 meter square grid approach. This method significantly enhances the understanding of the distribution of high-grade polymetallic mineralization. So far, the drilling has focused on three primary areas: the region directly below the zone, the western boundary, and below the known western extent.

Key Areas of Focus

So far, drill holes have confirmed the extension of the Lion Zone's footprint to an impressive 350 meters laterally and 450 meters vertically. The thickness of the massive chalcopyrite zone remains consistent, ranging up to 5-10 meters in the center while being less than 1 meter in some lateral positions. The strategic angle of these drill holes has yielded results that closely reflect the true thickness of the mineralization.

Looking Ahead: Upcoming Results

The company is also eagerly awaiting assay results from several promising drill holes, anticipated to be reported shortly. This data will provide further insights into the potential and quality of the mineralization in the Lion Zone.

Statements from Company Leadership

According to VP of Exploration Ken Williamson, the recent data offers a glimpse into a much shallower westward plunging chute within the Lion Zone, holding promise for lowering future drilling costs. He emphasized that the dual focus on expanding the drilling zone and implementing an organized exploration methodology will enable an ambitious and fruitful winter exploration program.

About Power Nickel Inc.

Power Nickel Inc. is a pioneering exploration company committed to the development of the Nisk project into what could be Canada’s first Carbon Neutral Nickel mine. The NISK property boasts an extensive land position with numerous high-grade intercepts. Additionally, Power Nickel holds significant mineral assets in British Colombia and Chile, thanks to ongoing restructuring for better asset management.

Contact Information

For more information, please contact Power Nickel Inc.

The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Frequently Asked Questions

What are the recent developments in Power Nickel's drilling program?

The company has managed to successfully drill 10 out of 12 holes at the Lion Zone, revealing significant sulphide mineralization.

How does the summer drilling program affect future exploration?

The summer program is aimed at expanding the Lion Zone and establishing a systematic exploration process for upcoming drilling initiatives.

What are the highlights of the Lion Zone findings?

Recent drilling shows an increased footprint of the Lion Zone, now measuring 350 m laterally and 450 m vertically, showcasing major expansions.

What methods are being used in drilling?

The drill strategy implements a grid approach of 50 to 75 m to enhance the understanding of mineral distribution.

How is Power Nickel progressing towards its carbon-neutral goal?

The development of the Nisk project is focused on creating Canada’s first Carbon Neutral Nickel mine, indicative of the company's commitment to sustainability.

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