Power Nickel (TSXV:PNPN) has announced significant progress in its ongoing exploration efforts, following the success of its 2024 drilling campaign. The company is expanding its focus to new target areas while continuing to delineate high-grade nickel, copper, cobalt, and precious metal deposits within the Nisk project. Notably, Power Nickel has confirmed a new discovery located 700 meters east of the Lion Zone, marking a potential expansion of its mineral resource base.

Power Nickel’ss exploration efforts have identified a deposit that shares characteristics with copper-rich deposits found in major nickel mining regions such as Norilsk and Sudbury. The presence of both a nickel-copper-cobalt-PGE deposit (Nisk) and a copper-PGE-gold-silver deposit (Lion) within the same layered ultramafic unit suggests the potential for additional, possibly larger, deposits within the project area. Based on current exploration data, Power Nickel believes there is still a significant volume of undiscovered mineralization.

To build on these findings, Power Nickel has launched an aggressive 2025 winter drilling campaign. By mid-February, three drills will be in operation to test multiple targets. The first drill will focus on expanding the depth and strike of the Lion deposit. The other two drills will explore a 5.5-kilometer section of ultramafic strike between the Nisk and Lion deposits, an area that has never been drilled. This region contains geological structures and electromagnetic (EM) anomalies similar to those associated with the original Lion Zone discovery in late 2023.

Additionally, the Nisk nickel deposit remains open to expansion. Some of the most promising intersections from the 2023 drill program were found in deeper sections of the Nisk deposit, indicating the potential for further high-grade mineralization. The upcoming drill program aims to expand the 2023 NI 43-101 mineral resource estimate and investigate the geological link between the Nisk and Lion deposits.

Geophysical Surveys to Guide Target Selection

To refine its drilling strategy, Power Nickel has enlisted a geophysicist to analyze borehole EM surveys and ground EM surveys conducted in 2024. This review will help identify new drill targets for the ongoing exploration campaign.

Several holes west of the Lion Zone (PN-24-082 to 85) have been selected for initial borehole EM surveys. These targets will be prioritized when the second drill arrives on-site in early February. By integrating EM survey data with drill results, Power Nickel aims to improve its understanding of subsurface mineralization and enhance exploration efficiency.

New Discovery: PN-24-094

One of the most significant developments from the 2024 exploration program is the discovery of a new mineralized zone 700 meters east of the Lion deposit. This discovery resulted from borehole EM surveys that identified a weak EM anomaly similar to the one found at the Lion Zone.

Initial drill holes in this area intersected a weak copper-mineralized structure. However, subsequent borehole EM surveys detected an off-hole anomaly, prompting additional drilling. The follow-up drill hole PN-24-094 intersected massive sulfides, including pyrrhotite (po) and chalcopyrite (cpy), with strong indications of nickel mineralization based on on-site XRF analyses.

This discovery is particularly significant because the mineralized zone is hosted in felsic gneisses, marking a third distinct deposit type within the expanding Nisk project. Power Nickel is awaiting assay results to determine the full extent and grade of mineralization. The newly discovered zone will be a major focus of the 2025 drill program.

Power Nickel is a Canadian exploration company focused on developing the high-grade nickel, copper, platinum group metals (PGMs), gold, and silver resources at the Nisk project. The company aims to establish Nisk as Canada’ss next major polymetallic mine.

The Nisk project covers a 20-kilometer strike length and hosts multiple high-grade mineralized zones. Power Nickel acquired an option to earn up to an 80% interest in the project from Critical Elements Lithium Corp. in 2021. Since then, the company has conducted multiple drilling programs to expand known resources and explore new targets within the property.

Alongside its work at Nisk, Power Nickel also owns significant land packages in British Columbia and Chile. The company plans to reorganize these assets into a separate publicly traded entity through a plan of arrangement.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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