Power Nickel brings on ex-First Quantum geoscientist as strategic advisor
Power Nickel Inc (TSX-V:PNPN) announced that renowned geoscientist Dr Steve Beresford has joined the company as a special advisor.
During his career, Beresford has been chief geologist of three major mining companies including First Quantum, a lecturer and professor, and founded several exploration companies.
Terry Lynch, Power Nickel CEO, said he first came across Beresford in a YouTube video about nickel-copper-platinum group element deposits.
He said he was impressed with Beresford’s expertise on these types of deposits, which have a lot of similarities to the company’s flagship Nisk deposit in Quebec.
“From Power Nickel’s perspective, we are very excited to work with, in our view, literally the top expert on the very type of discovery we have at Nisk,” Lynch said.
“We are confident his knowledge will expedite our exploration program and understanding of Nisk to give us the best chance of success.”
Beresford highlighted that he has spent his career working on all forms of nickel sulphides globally.
He said he has been focused on higher value sub-type of nickel deposits called polymetallic nickel-copper-platinum group elements deposits, zoned high-grade metal deposits where copper and noble metals form equivalent value to nickel.
“Polymetallic deposits remain the premier deposit style through market cycles,” he said.
“NISK has the geodynamic setting and prospect scale characteristics of a zoned metal system, so I’m looking forward to joining the Power Nickel team as we advance and transform NISK into a polymetallic deposit.”
Power Nickel said Beresford would be paid a $100,000 up-front cash consulting fee to review the company’s technical information over 12 months and provide other technical input as reasonably requested by the company.
Additionally, the company said it expects to conduct a further flow-through private placement with Quebec investors through Wealth Creation Preservation & Donation.
It plans to issue 250,000 flow-through units at $0.80 per unit for gross proceeds of $200,000, which will be used for exploration activities at the Nisk property.
