Power Nickel Provides Exploration Update
"With the addition of the
To the west, the Nisk Main zone extends over 650 m and to a depth of 500 m below surface. The 2023 Mineral Resource Estimate, dated
To the northeast, the
Valuable scientific and technical inputs received from
Moving forward, the exploration strategy will include:
- Downhole EM surveys from specially designed "Platform Holes", with the aim of identifying favourable areas for high grade sulphides mineralization within the target plane itself,
- Ground-based geophysics, which includes both ground gravity and EM surveys on a tight grid, providing yet another layer of information order to better understand the sub-surface architecture,
- Integration of these new datasets that will allow updating of the current litho-structural component of the 3D model with enhanced gravity data. The 3D model can then be used to filter out false-positive targets interpreted from the geophysical surveys.
Platform Holes
Platform holes are voluntarily drilled to follow and to remain at a constant distance from the target plane, rather than intersecting it. The main purpose of such holes is to provide a "consistent platform" on which downhole geophysics tools can generate a profile of EM responses along the vertical extent of the target plane.
Mineralized sulphides contained within the target plane, especially when massive and/or as interconnected stockwork of stringers are sensitive to EM interferences, and therefore can be "seen" by the geophysical survey, with a precise depth location. The intention is to align several platform holes along strike of the target plane, providing then a continuous survey coverage along both the vertical and lateral extents. For the technique to work best, platform holes are designed to be hosted by non-EM responsive rocks to avoid any background interferences.
A second drill has been deployed at the eastern margin of Nisk Main, and the first platform hole, PN-24P-001, is collared with the barren paragneiss. From there, the hole will be drilled to some 1,000 m depth. For the most part, the hole is drilled behind already known mineralization, for calibration purposes, but will cover some 400 m vertical meters of untested ground below the
Ground-based geophysics
With the combination of traditional high-resolution airborne geophysics and the Fleet Space ANT gravity surveys, it was recognized that more precise ground-based surveys were required to further refine our targeting strategy. From
Field work is ongoing at the
As new information is being gathered, geochemistry of both mineralized zones is also being investigated. Defining the relation between the Nisk Main zone mineralogy with the more Copper/PGE/Ag/Au-rich mineralogy observed at
"So far, 2024 has been an exciting year of discoveries for
Qualified Person
About
The NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts.
In addition to the Nisk project,
To obtain
Neither the
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 the Company to develop the NISK deposit or risk that such development does not occur at all; raise sufficient capital to fund its obligations under its property agreements going forward; 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/power-nickel-provides-exploration-update-302220631.html
SOURCE