Power Nickel Inc. (the “Company” or “Power Nickel”) (TSXV: PNPN) (OTCBB : PNPNF) ( Frankfurt : IVV) is pleased to announce assay results for hole PN-24-044. (see Figure and Table below)
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:
- 2.4 m of 0.60 g Au, 103.62 g Ag, 12.12% Cu, 13.27 g PD, 2.52g Pt and 0.22% Ni
- 6.55 m of 2.59 g Au, 40.27 g Ag, 5.33% Cu, 6.35 g PD, 1.5g Pt and 0.43% Ni
- 15.75 m of 1.6 g Au, 25.34 g Ag, 2.52% Cu, 2.73 g PD, 0.65g Pt and 0.19% Ni
“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.
Figure 1: Longitudinal view of the Lion Discovery zone; Presenting the location of the mineralized intersections for hole PN-24-059 and PN-24-060 (in red), as well as previously announced holes (in blue).
