Terry Lynch of Power Nickel on EVs Driving Demand for Nickel & Tax Benefits from Working in Quebec
In this InvestorIntel interview, Tracy Weslosky talks with Power Nickel Inc.’s (TSXV: PNPN | OTCQB: PNPNF) CEO Terry Lynch about discovering a new high-grade copper and PGM (platinum group metals) mineralized zone on their Nisk Project in Quebec, Canada. The new target area, called the “Wildcat” by the company, is 5km northeast of the main Nisk deposit, Terry discusses the “bonanza style results” with ‘significant’ amounts of platinum, palladium, and gold.
Terry goes on to talk about the competitive advantages of the Nisk Project being located in Quebec, Canada, with both Quebec and Canadian governments providing substantial incentives to explore for critical minerals and build mines.
Terry also talks about the significant growth in the nickel market driven by urbanization and electrification, particularly electric vehicles (EVs). With urbanization currently accounting for 70% of the nickel market from uses such as stainless steel, Terry discusses how electrification is expected to reach 50% of the nickel market by 2030.
Power Nickel is focused on delivering more drilling results in the coming months and is fully funded for exploration activities. Advanced exploration technologies, such as the recently completed airborne EM survey and the upcoming Ambient Noise Tomography work, will be used to find the nickel mineralizations faster.
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About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold, and battery metal prospects in Canada and Chile.
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 historical high-grade nickel-copper PGE mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.
Power Nickel announced on June 8th, 2021, that an agreement had been made to complete the 100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden Triangle has reported mineral resources (past production and current resources) in a total of 130 million ounces of gold, 800 million ounces of silver, and 40 billion pounds of copper (Resource World). This property hosts two known mineral showings (gold ore and Magee), and a portion of the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold and plus/minus copper.
Power Nickel is also 100-percent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a 3-per-cent NSR royalty interest on any future production from the Copaquire copper-molybdenum deposit that was sold to a subsidiary of Teck Resources Inc. Under the terms of the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $3 million at any time. The Copaquire property borders Teck’s producing Quebrada Blanca copper mine in Chile’s first region.
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