Power Nickel strengthens resource confidence at Lion Zone with latest drill results
Power Nickel Inc (TSX-V:PNPN, OTCQB:PNPNF) has announced assay results from three drill holes which were part of its fall 2024 exploration campaign at the Lion Zone at its Nisk polymetallic project in Quebec.
Drilling focused on testing the depth and western extensions of the mineralized zone.
One hole targeted the interpreted plunge of the Lion Zone, intersecting 20.05 meters of 4.29% copper equivalent (CuEq), including 10.25 meters of 6.26% CuEq, and additional shorter intersections of 3.41% CuEq over 1.9 meters and 0.52% CuEq over 3.25 meters.
A second hole, drilled 75 meters west of the first, intersected the mineralized horizon above the plunge but returned only isolated metal values.
A third hole tested approximately 100 meters below the second, intersecting the top edge of the Lion Zone with 4.85 meters of 1.84% CuEq, including 1 meter of 7.15% CuEq.
The results confirm the strike, dip, and plunge extensions of the Lion Zone, improving confidence in its geological continuity. The company highlighted that these findings support the mineral deposit model and extend the mineralized area for high-grade copper, gold, silver, and platinum group metals.
“These holes continue to inspire the team on how exciting the Lion zone is so far and its potential as we expect to complete the remaining 15,000 meters of drilling between now and the end of April 2025,” Power Nickel CEO Terry Lynch said in a statement.
“We have 14 more holes to report from the autumn drilling program that will inform the current winter program. The assay labs have been backed up but we hope to update the market in the coming weeks with more results along with clarity around the plans and objectives for the rest of this program.”
Joe Campbell, Power Nickel’s VP of exploration, added that the company’s understanding of the Lion Zone continues to improve as its strong continuity and consistency enable us to confidently predict where individual drill holes will intersect the target mineral horizon.
This applies not only to the Lion Zone itself but also to using tools like downhole EM to enhance our aggressive step-out exploration efforts, he said.
“As we disclosed to the market in December, our visual logging of hole PN-24-95a (assays pending) suggests the high-grade trend will extend to depth,” Campbell said. “This bodes well for continued success expanding the zone in 2025, leading to a future robust initial mineral resource estimate.”
The 2025 drilling program is underway, with preparations for expanded exploration efforts, including road and pad construction and upgrades to core sampling facilities, Power Nickel said.
Drilling capacity will increase with three rigs expected to be operational by mid-February, expediting assay results and advancing resource definition.
Additionally, geophysical surveys from 2024 are being interpreted to identify new conductive targets, potentially extending the Lion Zone and uncovering similar zones along several kilometers of strike of the mineralized structures.
