COMMUNIQUÉ DE PRESSE

par Power Nickel Inc. (isin : CA7393011092)

Hole 23 Delivers! Power Nickel Final Drill Results from the Fall 2022 Drill Program and Initial Drill Results from Winter 2023

Highlights

Main Zone

  • 0.97% Ni, 0.45% Cu, 0.07% Co, 0.80 g/t Palladium, 0.27 g/t Platinum over 16.4m in Hole PN-23-023
    Including
  • 1.08% Ni, 0.50% Cu, 0.08% Co, 0.91 g/t Palladium, 0.31 g/t Platinum over 13.5m
  • 1.37% Ni, 0.44% Cu, 0.10% Co, 1.11 g/t Palladium, 0.57 g/t Platinum over 5.6m
  • 0.57% Ni, 0.17% Cu, 0.04% Co, 0.47 g/t Palladium, 0.18g/t Platinum over 14.8m in Hole PN-23-024
    Including
  • 0.92% Ni, 0.32% Cu, 0.06% Co, 0.59 g/t Palladium, 0.34g/t Platinum over 4.85m
    And
  • 1.03% Ni, 0.17% Cu, 0.07% Co, 1.13 g/t Palladium, 0.1g/t Platinum over 2.3m in Hole PN-23-024
  • Drilling has completed for the winter season, and will resume in the summer. Holes PN-23-025 to PN-23-035 are awaiting assay results, and several have encountered significant intervals of massive sulfides.

TORONTO, ON / ACCESSWIRE / April 27, 2023 / Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV:PNPN)(OTCQB:PNPNF)(Frankfurt:IVVI) continues to confirm the presence of high-grade Ni-Cu-Co-PGE mineralization in the Main Zone of its Nisk project near James Bay, Quebec. In addition, step out exploration drilling 800m east of the Main Zone shows indications of a new Ni-Cu-Co-PGE zone within the same ultramafic sequence of rocks. The Main Zone drill results for holes PN-23-23 and PN-23-24 extend mineralization up dip from previous high-grade holes into an area previously believed to be a low grade zone between two high grade lodes (Figure 1).

New Discovery 800m east of Main Zone
0.22% Ni, 0.42% Cu, 0.01% Co, 0.71 g/t Palladium, 0.31 g/t Platinum over 4.9m Hole PN-22-020

Late in the fall 2022 drill program, two holes (PN-22-020 and PN-22-021) tested an exploration target at shallow depths approximately 800m and 600m respectively east of the high-grade Main Zone (Figure 1). Hole PN-22-021 did not intersect sulphide mineralization, but further to the east hole PN-22-020 intersected three (3) zones of sulphides with significant Ni-Cu-Co-PGE mineralization (Table 1). This hole contained low amounts of sulphides but with a high ratio of Ni-Cu-Co-PGE mineralization. The area will require further testing for potential massive sulphide zones, and both holes are good candidates for downhole EM surveying to look for off-hole EM conductors.

In a March 1 news release, hole PN-22-018 was listed as NSR (no significant results), but further analysis of initial assay results from this hole revealed a low-grade Ni/PGE zone over 7.5m and it is reported here (Table 1).

Table 1 below presents the significant results received from the remaining fall 2022 program and the initial holes from the winter 2023 program.

Table 1: Significant results from the 2022 drilling program.

Hole ID

UTM E1

UTM N1

Length (m)

Azimuth (°)

Dip (°)

From (m)

To (m)

Interval Length2 (m)

Au (g/t)

Ni (%)

Cu (%)

Co (%)

Pd (g/t)

Pt (g/t)

PN-22-015

460176

5728829

544.4

157.3

-76

NSR - hole was lost in ultramafic host rocks

PN-22-016

460313

5728831

321

152.9

-58

Hole lost 1m of core in mineralized zone

PN-22-018

459537

5728552

465

180.4

-70

427.00

434.50

7.50

0.01

0.29

0.01

0.02

0.37

0.09

PN-22-019

459802

5728686

262.74

152.2

-66

Hole lost short of target

PN-22-020

460917

5728876

219.07

161.1

-61

85.00

86.50

1.50

0.01

0.81

0.09

0.04

1.00

0.03

And

100.00

102.25

2.25

0.13

0.13

0.35

0.01

0.74

0.30

And

112.60

117.50

4.90

0.05

0.22

0.42

0.01

0.71

0.31

PN-22-021

460722

5728815

178.24

162

-61

NSR

PN-23-022

460238

5728735

315

164.9

-66

208.46

208.96

0.50

3.75

0.33

0.04

2.95

0.04

0.03

Including

238.95

241.15

2.20

0.01

0.40

0.20

0.03

0.55

0.21

PN-23-023

459658

5728641

423.02

158.1

-67

358.65

375.05

16.40

0.02

0.97

0.45

0.07

0.80

0.27

Including

360.65

374.15

13.50

0.03

1.08

0.50

0.08

0.91

0.31

Including

360.65

366.25

5.60

0.03

1.37

0.44

0.10

1.11

0.57

PN-23-024

459746

5728651

433.03

162.9

-70

315.00

316.00

1.00

0.26

0.15

0.33

0.02

1.03

0.29

And

345.00

359.80

14.80

0.01

0.57

0.17

0.04

0.47

0.18

Including

345.00

349.85

4.85

0.02

0.92

0.32

0.06

0.59

0.34

And Including

357.50

359.80

2.30

0.01

1.03

0.17

0.07

Voir toutes les actualités de Power Nickel Inc.