TORONTO, Jan. 27,
2025 /CNW/ - Power Nickel
Inc. (the "Company"
or "Power Nickel") (TSXV: PNPN)
(OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the
beginning of the 2025 winter drill campaign on the Nisk project
with hole PN-24-96 (Figure 1). This hole will be testing the depth
extension along the trend of the Lion zone, following up on
successful drilling of high-grade Cu and precious metal (Pd, Pt,
Au, Ag) discovered in 2024 drill holes (See some highlights below
and Table 2).
- PN-24-047 contains 14.40m of
8.15% Cu; 6.23 g/t Pd; 8.40 g/t Pt; 68.9 g/t Ag; 0.59 g/t Au; and
0.58% Ni
- PN-24-051 contains 11.40m 0f
2.51% Cu; 3.20 g/t Pd; 19.59 g/t Pt; 14.0 g/t Ag; 0.24 g/t Au; and
0.58% Ni
- PN-24-053 contains 5.00m of
12.70% Cu; 20.87 g/t Pd; 1.02 g/t Pt; 102.9 g/t Ag; 1.76 g/t Au;
0.40% Ni
- PN-24-070 contains 32.00m @ 3.62%
Cu; 8.10 g/t Pd; 2.47 g/t Pt; 20.9 g/t Ag; 0.45 g/t Au; 0.18%
Ni
|
Note: Reported lengths
are downhole distance; true width based on model projections is
estimated as 85-95% of downhole length
|
The 2024 drilling has begun to delineate a deposit that is
analogous to Cu rich deposits that form an end member type of
deposit found in large Ni deposit camps, such as those observed at
Norilsk and the off-set dyke style deposits in Sudbury. The presence of a Ni-Cu-Co-PGE
deposit (Nisk), and a Cu-PGE-Au-Ag deposit (Lion) along the same
layered ultramafic unit provides encouragement to target
additional, possibly larger, deposits within this camp. Power
Nickel's current exploration information is suggestive of a
potentially large volume of metal yet to be discovered.
To achieve these discoveries the current plans for the winter
2025 exploration campaign include operating 3 drills by mid
February. The initial drill will extend depth and strike extensions
of the Lion deposit. The remaining two drills will target the known
strike of the ultramafic, including 5.5 km of strike between Nisk
and Lion that has not previously been drilled. This area includes
structures and EM anomalies that are similar to the original target
that led to the discovery of Lion in late 2023. In addition, the
Nisk Ni deposit remains open to expansion, with some of the best
intersections found in the last drilling campaign at Nisk (2023)
that targeted depth extensions. Additional drilling is expected to
increase the 2023 NI43-101 mineral resource estimate, and to help
understand Nisk's connection to the high grade Lion Cu deposit.
To help direct the exploration drilling Power Nickel has
retained the services of a geophysicist to review borehole EM
surveys and ground EM surveys that were conducted in 2024. This
work will identify new drill targets for the 2025 campaign. Several
holes west of Lion (PN-24-082 to 85, Figure 1) are the initial
locations for borehole EM surveys and these will be prioritized
when the second drill arrives at site at the beginning of
February.
A New Discovery – PN-24-094
Borehole EM surveys in
2024 have already provided a success. In late 2024 Power Nickel
tested a weak EM target located 700m
east of Lion that was similar to the one found over the Lion
deposit. The initial holes showed indications of a weak Cu
mineralized structure (Figure 2). A subsequent bore hole survey
indicated an off-hole anomaly and subsequent drilling intersected
massive sulphides (po-cpy) with strong indications of Ni in on-site
XRF analyses (Figure 3). The unusual host rock for this deposit
(felsic gneisses) provides at third deposit type in this expanding
Ni-Cu camp. Power Nickel is awaiting assays of this zone to help
characterize it. This area will be another focus of the 2025
drilling campaign.
Qualified Person
Joseph
Campbell, P.Geo, VP Exploration at Power Nickel, is the
qualified person who has reviewed and approved the technical
disclosure contained in this news release.
|
Table 2: Significant
assay results previously reported - Lion zone
|
|
Hole
|
From
|
To
|
Length
|
Au
|
Ag
|
Cu
|
Pd
|
Pt
|
Ni
|
CuEq
Rec*
|
|
(m)
|
(m)
|
(m)
|
(g/t)
|
( g/t
)
|
( %)
|
(g/t)
|
( g/t
)
|
( %)
|
( %)
|
|
PN-24-063
|
428
|
433
|
5
|
0.48
|
24.82
|
4.41
|
0.21
|
6.15
|
0.47
|
5.93
|
|
Including
|
429
|
432
|
3
|
0.73
|
37.9
|
7.1
|
0.3
|
9.26
|
0.5
|
9.3
|
|
PN-24-064
|
452
|
454.2
|
2.15
|
0.21
|
2.98
|
0.49
|
0.68
|
0.24
|
0.1
|
0.87
|
|
Including
|
452
|
453
|
1
|
0.27
|
3.9
|
0.85
|
1.03
|
0.31
|
0.19
|
1.35
|
|
PN-24-065
|
No significant
values
|
|
PN-24-066
|
402
|
414
|
12.05
|
0.09
|
4.53
|
0.65
|
6.39
|
0.3
|
0.06
|
2.97
|
|
Including
|
411
|
414
|
3
|
0.2
|
12.5
|
1.95
|
2.26
|
0.62
|
0.12
|
2.78
|
|
With
|
413
|
414
|
1
|
0.28
|
32.4
|
5.08
|
4.44
|
0.44
|
0.16
|
6.22
|
|
PN-24-067
|
431
|
442.9
|
12.15
|
0.12
|
8.54
|
1.75
|
1.99
|
0.36
|
0.14
|
2.36
|
|
Including
|
431
|
433.4
|
2.65
|
0.16
|
8.47
|
1.27
|
1.01
|
0.84
|
0.11
|
1.8
|
|
With
|
432
|
432.4
|
0.5
|
0.77
|
43.1
|
6.38
|
1.46
|
4.24
|
0.38
|
7.74
|
|
and
Including
|
441
|
442.9
|
2.35
|
0.31
|
32.77
|
7.41
|
8.59
|
0.64
|
0.32
|
9.64
|
|
With
|
442
|
442.9
|
0.75
|
0.34
|
70
|
15.7
|
12.7
|
0.49
|
0.41
|
18.01
|
|
PN-24-068
|
475
|
476.3
|
1.7
|
0.28
|
10.96
|
2.74
|
3.47
|
1.54
|
0.1
|
4.15
|
|
Including
|
475
|
475.1
|
0.5
|
0.94
|
36.3
|
8.55
|
11.4
|
5.19
|
0.28
|
13.34
|
|
PN-24-069
|
100
|
117
|
17
|
0.28
|
9.52
|
0.93
|
7.19
|
1.66
|
0.05
|
4.05
|
|
Including
|
100
|
106
|
6
|
0.42
|
19.33
|
0.96
|
11.68
|
3.69
|
0.04
|
6.43
|
|
With
|
100
|
102
|
2
|
0.66
|
47.3
|
2.15
|
19.35
|
2.87
|
0.08
|
10.26
|
|
and
Including
|
112
|
117
|
5
|
0.35
|
7.8
|
1.78
|
9.69
|
0.74
|
0.09
|
5.38
|
|
With
|
114
|
115
|
1
|
0.57
|
12.9
|
6.09
|
33.8
|
0.85
|
0.36
|
18.39
|
|
PN-24-070
|
118
|
150
|
32
|
0.45
|
20.93
|
3.62
|
8.1
|
2.47
|
0.18
|
6.97
|
|
Including
|
120
|
130
|
10
|
0.5
|
12.94
|
1.76
|
10.82
|
5.98
|
0.08
|
7.44
|
|
With
|
120
|
12
|
2
|
0.53
|
28.2
|
5.77
|
7.61
|
1.86
|
0.25
|
8.45
|
|
and
Including
|
139
|
150
|
11.4
|
0.6
|
44.51
|
8.39
|
11.52
|
1.24
|
0.42
|
11.94
|
|
With
|
141
|
147.4
|
6
|
0.79
|
60.98
|
12.9
|
15.21
|
1.6
|
0.51
|
17.22
|
|
PN-24-071
|
157
|
196.6
|
39.6
|
0.38
|
19.57
|
2.62
|
3.37
|
0.8
|
0.13
|
4.19
|
|
Including
|
157
|
160
|
3
|
0.25
|
8.93
|
0.68
|
6.2
|
0.04
|
0.02
|
3.04
|
|
and
Including
|
185
|
196.6
|
11.6
|
0.88
|
49.9
|
8.25
|
9.57
|
2.64
|
0.34
|
12.46
|
|
With
|
193
|
196.6
|
3.6
|
1.56
|
63.03
|
10.39
|
11.42
|
7.9
|
0.32
|
16.89
|
|
PN-24-072
|
294
|
345
|
51
|
0.54
|
9.1
|
1.01
|
0.06
|
1.14
|
0.53
|
1.94
|
|
Including
|
294
|
299.2
|
5.2
|
0.18
|
3.67
|
0.02
|
0
|
1.19
|
0.89
|
0.86
|
|
and
Including
|
308
|
309.8
|
1.9
|
0.45
|
4.43
|
0.11
|
0
|
0.99
|
0.71
|
0.99
|
|
and
Including
|
321
|
323
|
2
|
0.15
|
3.45
|
0.32
|
0.03
|
1.18
|
0.51
|
1
|
|
and
Including
|
325
|
332.5
|
7.1
|
0.68
|
18.14
|
0.66
|
0.08
|
0.73
|
0.15
|
1.61
|
|
and
Including
|
333
|
345
|
12.5
|
0.31
|
16.22
|
3.01
|
0.17
|
3.14
|
1.49
|
4.63
|
|
With
|
333
|
337
|
4.5
|
0.53
|
32.71
|
6.4
|
0.35
|
5.73
|
3.74
|
9.59
|
|
PN-24-073
|
355
|
383.8
|
29.1
|
0.25
|
4.97
|
0.51
|
1.52
|
0.7
|
0.06
|
1.49
|
|
Including
|
367
|
369
|
2.1
|
0.21
|
20.67
|
3.53
|
4.05
|
0.1
|
0.27
|
5.14
|
|
and
Including
|
376
|
379.3
|
3
|
1.67
|
14.93
|
0.89
|
10.36
|
5.71
|
0.04
|
7.41
|
|
PN-24-074
|
290
|
313.6
|
23.55
|
0.15
|
3.06
|
0.6
|
0.11
|
0.13
|
0.02
|
0.89
|
|
Including
|
295
|
295.8
|
1
|
0.09
|
7.2
|
0.5
|
0.02
|
0.93
|
0.02
|
0.9
|
|
and
Including
|
311
|
313.6
|
2.5
|
1.27
|
18.57
|
5.1
|
0.52
|
0.78
|
0.13
|
6.46
|
|
PN-24-075
|
322
|
340.7
|
19.2
|
0.14
|
5.45
|
1.04
|
0.05
|
1.22
|
0.53
|
1.65
|
|
Including
|
322
|
324.9
|
3.4
|
0.6
|
13.02
|
0.24
|
0.01
|
3.38
|
3.6
|
2.97
|
|
and
Including
|
330
|
331
|
0.75
|
0.27
|
15.4
|
1.94
|
0.06
|
0.52
|
0
|
2.16
|
|
and
Including
|
338
|
340.7
|
3.05
|
0.23
|
15.29
|
5.31
|
0.23
|
4.36
|
0.27
|
6.62
|
|
PN-24-076
|
No significant
values
|
|
PN-24-078
|
158
|
187
|
29.4
|
0.53
|
11.95
|
1.15
|
1.08
|
0.36
|
0.06
|
2.34
|
|
Including
|
158
|
169.2
|
11.55
|
0.44
|
11.55
|
0.59
|
1.25
|
0.76
|
0.02
|
1.92
|
|
With
|
159
|
160.6
|
2
|
0.64
|
14.85
|
0.49
|
2.71
|
2.32
|
0.02
|
3.24
|
|
And
With
|
164
|
168.2
|
4.65
|
0.59
|
15.83
|
0.97
|
1.25
|
0.5
|
0.04
|
2.38
|
|
and
Including
|
174
|
187
|
13.35
|
0.77
|
15.86
|
1.98
|
1.29
|
0.14
|
0.12
|
3.43
|
|
With
|
174
|
176.6
|
2.9
|
3.16
|
21.62
|
5.84
|
4.72
|
0.44
|
0.48
|
11.03
|
|
And
With
|
183
|
187
|
4
|
0.23
|
35.78
|
2.3
|
0.73
|
0.11
|
0.03
|
3.23
|
|
PN-24-079
|
177
|
197
|
20.05
|
0.88
|
23.2
|
2.36
|
3.3
|
0.53
|
0.14
|
4.29
|
|
including
|
187
|
197
|
10.25
|
1.28
|
33.1
|
3.7
|
4.63
|
0.34
|
0.2
|
6.26
|
|
and
|
205
|
206.7
|
1.9
|
2.73
|
43.2
|
1.15
|
0.42
|
0.07
|
0.04
|
3.41
|
|
and
|
217
|
220
|
3.25
|
0.14
|
8.6
|
0.4
|
0.04
|
0.01
|
0.01
|
0.52
|
|
PN-24-080
|
Isolated individual
assay values
|
|
PN-24-081
|
348
|
353
|
4.85
|
0.65
|
6.7
|
0.32
|
2.1
|
0.76
|
0.06
|
1.84
|
|
including
|
349
|
350
|
1
|
2.84
|
27.8
|
1.04
|
8.77
|
3.11
|
0.06
|
7.15
|
|
and
|
358
|
359.2
|
0.95
|
0.05
|
7.4
|
1.15
|
0.22
|
0.01
|
0.13
|
1.35
|
About Power Nickel Inc.
Power Nickel is a Canadian exploration company focusing on
developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk
project into Canada's next poly
metallic mine.
On February 1, 2021, Power Nickel
(then called Chilean Metals) completed the acquisition of its
option to acquire up to 80% of the Nisk project from Critical
Elements Lithium Corp. (CRE: TSXV).
The NISK property comprises a large land position (20 kilometres
of strike length) with numerous high-grade intercepts. Power Nickel
is focused on expanding the high-grade nickel-copper PGM, Gold and
Silver mineralization with a series of drill programs designed to
evaluate the initial Nisk discovery zone, the Lion discovery zone
and to explore the land package for adjacent potential poly
metallic deposits.
In addition to the Nisk project, Power Nickel owns significant
land packages in British Colombia
and Chile. Power Nickel is
expected to reorganize these assets in a related public vehicle
through a plan of arrangement.
For further information, readers are encouraged to
contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed
"forward-looking statements" concerning the Company within the
meaning of applicable securities laws. Forward-looking statements
are statements that are not historical facts and are generally, but
not always, identified by the words "expects," "plans,"
"anticipates," "believes," "intends," "estimates," "projects,"
"potential," "indicates," "opportunity," "possible" and similar
expressions, or that events or conditions "will," "would," "may,"
"could" or "should" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, are subject to risks and uncertainties, and
actual results or realities may differ materially from those in the
forward-looking statements. Such material risks and uncertainties
include, but are not limited to, among others; the timing for
various drilling plans; the ability to raise sufficient capital to
fund its obligations under its property agreements going forward
and conduct drilling and exploration; to maintain its mineral
tenures and concessions in good standing; to explore and develop
its projects; changes in economic conditions or financial markets;
the inherent hazards associates with mineral exploration and mining
operations; future prices of nickel and other metals; changes in
general economic conditions; accuracy of mineral resource and
reserve estimates; the potential for new discoveries; the ability
of the Company to obtain the necessary permits and consents
required to explore, drill and develop the projects and if
accepted, to obtain such licenses and approvals in a timely fashion
relative to the Company's plans and business objectives for the
applicable project; the general ability of the Company
to monetize its mineral resources; and changes in
environmental and other laws or regulations that could have an
impact on the Company's operations, compliance with environmental
laws and regulations, dependence on key management personnel and
general competition in the mining industry.
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SOURCE Power Nickel Inc.
