Power Nickel Inc. (Power Nickel) is thrilled to share details about its expanded exploration program at the Nisk Property located in Nemaska, Quebec. While the 2024 summer drill program at the Lion Zone continues to successfully intersect poly-metallic mineralization, Power Nickel has embarked on a comprehensive property-scale exploration program. This program will involve both downhole and ground-based geophysical surveys, aiming to provide a solid framework for identifying new, potentially mineralized areas beneath the surface. A key objective is to define a possible continuity of mineralization over the 5.5 km strike-length separating the Nisk Main and Lion Zones.
Power Nickel CEO, Terry Lynch, expressed excitement about the progress, stating, “With the addition of $20 Million dollars in exploration capital and Dr. Steve Beresford to our Board and Technical Team, we have significantly enhanced our ability to follow up on our exploration success at Nisk. We are most encouraged with this summer’s progress and believe our strategic approach will maximize the speed and size of our exploration discoveries.”
The Nisk Main zone, located to the west, extends over 650 m and reaches a depth of 500 m below the surface. The 2023 Mineral Resource Estimate, dated November 29th, 2023, revealed a combined “in-pit” and underground indicated resource of 5.43 Mt grading 1.05% NiEq and an underground inferred resource of 1.79 Mt @ 1.35% NiEq. The Nisk Main zone remains open at depth, potentially containing high-grade mineralization shoots.
To the northeast, the Lion Zone is currently explored over approximately 300 m to a depth of 350 m. The Lion Zone is characterized by poly-metallic sulphides-rich zones exhibiting high-grade content in PGM, gold, and silver, as well as copper and nickel. Valuable insights from Dr. Beresford, a key addition to Power Nickel’s team, have led to a refined exploration strategy. This strategy aims to identify the most promising areas for resource growth at both the Nisk Main and Lion Zones while understanding the geological connection between them. Dr. Beresford’s expertise suggests that the mineralized zones exhibit characteristics similar to a vein system, with the thickness of the zone and its proximity to the “source” playing crucial roles in determining the mineralogy and grade of different mineralized pods.
Power Nickel’s exploration program will also leverage Dr. Beresford’s experience by emphasizing the strategic use of geophysics in target identification. The exploration strategy moving forward will encompass:
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Downhole EM surveys from specially designed “Platform Holes:
These holes will be drilled to follow and remain at a constant distance from the target plane rather than directly intersecting it. This approach aims to generate a profile of EM responses along the vertical extent of the target plane, allowing for precise identification of mineralized sulphides. Multiple platform holes will be aligned along the strike of the target plane, providing comprehensive survey coverage. The platform holes will be drilled in non-EM responsive rocks to minimize background interferences. A second drill rig has been deployed at the eastern margin of Nisk Main, and the first platform hole, PN-24P-001, is collared within barren paragneiss. The hole will be drilled to approximately 1,000 m depth, covering both known and previously unexplored areas below the Nisk Main Zone.*
Ground-based geophysics:
Integrating traditional high-resolution airborne geophysics and Fleet Space ANT gravity surveys with precise ground-based surveys allows for a refined targeting strategy. Dr. Beresford emphasizes the importance of both data acquisition and processing in this approach. Fieldwork is currently underway at the Lion Zone for an EM ground-based survey, and a ground-based gravity survey covering a significant portion of the property is also in progress.*
Integration of new datasets:
The newly acquired geophysical data will be integrated into the existing 3D model, enhancing the litho-structural understanding of the subsurface. This integration will allow for the filtering of false-positive targets interpreted from the geophysical surveys.As Power Nickel continues to gather information, the geochemistry of both mineralized zones is also being investigated. Understanding the relationship between the Nisk Main zone mineralogy and the copper/PGE/Ag/Au-rich mineralogy observed at the Lion Zone could define a mineralogical vector at the property scale. This vector could provide insights for targeting new discoveries.
Ken Williamson, VP Exploration at Power Nickel, remarked, “So far, 2024 has been an exciting year of discoveries for Power Nickel, and we believe the best is yet to come.”
Kenneth Williamson, Géo, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure in this news release.
Power Nickel is a Canadian junior exploration company dedicated to developing the high-grade Nisk project into Canada’s first carbon-neutral nickel mine. The NISK property encompasses a substantial land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel is committed to expanding the historical high-grade nickel-copper PGE mineralization through a series of drill programs designed to test the initial Nisk discovery zone and explore the surrounding area for potential nickel deposits. Beyond the Nisk project, Power Nickel owns significant land packages in British Columbia and Chile. The company is actively reorganizing these assets in a related vehicle through a Plan of Arrangement that will be presented to Power Nickel shareholders for approval.
Power Nickel’s Corporate Presentation can be accessed at: http://powernickel.com/corporate_presentation.pdf
