Power Nickel Inc. is pleased to announce assay results for hole PN-24-044.

Highlights: 0.60 m of 24.3 g gold (Au), 5.7 g silver (Ag), 5.29% copper (Cu), 3.26 g palladium (PD), 0.29g platinum (Pt), and 3.31% nickel (Ni) including:

"Why is this hole important for our shareholders? If you were to ask a miner what a perfect mine is the answer would be a substantial high grade, surface/near surface discovery of a polymetallic mineralization, in a safe jurisdiction with excellent existing infrastructure. 1 gram gold is today worth about $75. A million-ounce ore body averaging 1 gram would be considered a good deposit. So, $75 rock is good. The grades we are seeing suggests we may have between $1000-$2,000 rock. That's exciting that's exactly what we want! With this hole and with what we have told in our previous press releases about this discovery we are laying out the evidence that this is what we have found. This discovery is now so real to us that we have renamed it from Wildcat to the Lion Zone. This will be the King of the Beasts," commented Terry Lynch, Power Nickel CEO.

To date, the Company's drill program has produced 15 of 16 successful holes at the Lion Discovery. Additional assays to be released shortly will demonstrate the significant and groundbreaking discovery that has been made (see figure 1 below). Power Nickel continues to drill at the Lion Discovery with the deepest target to date as well as at Ant 4.

"Power Nickel has deployed a standard fan drilling program design to test in a gridded way the presence of the mineralized zone as we go. So far, the current mineralized envelope is interpreted to extend to a minimum of 300 m below surface and to a minimum of 225 m laterally, and remains open in all directions," stated Ken Williamson, Power Nickel's VP Exploration.

As previously stated in the Company's press release dated March 20, 2024, multiple new holes successfully intersected the chalcopyrite-rich zone initially discovered in Hole PN-23-031A. Table 1 below presents the significant results and observations to date.

Figure 2 below presents core pictures of some of the best intersections to date. It is noticeable that the relative quantity of semi-massive chalcopyrite observed in both PN-23-031A and PN-24-044, while excellent, appears to be dwarfed when compared to some of the other holes coming from the core of the zone. In our analysis, significantly good results are to come in the next weeks.

The current interpretation suggests that the zone is located at the contact with the ultramafic rock and that it presents a sigmoidal geometry with a high-grade shoot steeply plunging to the NNE.

Figure 3 below presents core pictures of some of the best intersections to date. It is noticeable that the relative quantity of semi-massive chalcopyrite observed in both PN-23-031A and PN-24-044, while excellent, appears to be dwarfed when compared to some of the other holes coming from the core of the zone. In our analysis, significantly good results are to come in the next weeks.

"After analysing our data, we came up with a robust model which will guide us as we are continuing drilling deeper; as presented in figure 4 below, we've identified what the plunge of the zone appears to be and pinned down structures that appear to be controlling the geometry of the zone. It looks to me as typical "Abitibi type" scenario, where the vertical extent of such mineralized zone could potentially be far more considerable than it's current 300 m extent. The nature of this metallurgy extremely rich narrow vein, somehow reminds me chasing down the high-grade veins in Red Lake," commented Kenneth Williamson, Power Nickel's VP Exploration.

QAQC and Sampling

GeoVector's Management Inc is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.

All samples were submitted to and analyzed at ALS Global ("ALS"), an independent commercial laboratory located in Val-d'Or, Québec for both the sample preparation and assaying. ALS is a commercial laboratory independent of Power Nickel with no interest in the Project. ALS is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through ALS are run through standard preparation methods and analysed using ME-ICP61a (33 element Suite; 0.4g sample; Intermediate Level Four Acid Digestion) and PGM-ICP27 (Pt, Pd, and Au; 30g fire assay and ICP-AES Finish) methods. ALS also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.

GeoVector's QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.

The results presented in the current Press Released are complete within the mineralized intervals, but results are still pending for the top portion of both holes reported. QAQC and data validation was performed on these portions of the holes where assays are fully integrated, and no material error were observed.

 

Source:prnewswire.com

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