In a recent interview on Investor.Coffee with host Tracy Weslosky, Terry Lynch, CEO of Power Nickel Inc. (TSXV: PNPN | OTCQB: PNPNF), shared insights into the company’s ambitious 2024 drilling program at the Nisk Project in Nemaska, Quebec. Terry highlighted the use of Ambient Noise Tomography (ANT) in generating actionable data for identifying potential resource-rich nickel targets. This innovative method has led to the identification of four distinct areas with ANT signatures similar to the Nisk Main target, bolstering the company’s potential to discover additional nickel sulfide deposits.
Nisk, which stands out for its high-grade nickel-copper sulphide deposit, is enriched with multiple critical minerals including Nickel, Copper, Cobalt, Palladium, and Platinum. Power Nickel is making strides to increase its ownership stake in the Nisk project, with a goal to elevate its stake from 50% to 80% through their option plan. This significant move was facilitated by the recent delivery of the NI 43-101 report, marking a pivotal development in the project’s advancement.
Terry also discussed Power Nickel’s collaboration with CVMR in conducting a feasibility study on the Nisk Project. This partnership aims to achieve significantly higher metal recoveries, potentially up to 90%, surpassing the typical industry benchmark of 70%. CVMR’s unique approach also turns iron, usually deemed as waste, into a valuable iron powder product, thereby improving the project’s economic viability.
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About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nickel Nisk project into Canada’s first Carbon Neutral nickel 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). Subsequently, Power Nickel has exercised its option to acquire 50% of the Nisk Project and delivered notice to Critical Elements that it intends to exercise its second option to bring its ownership to 80%. The last remaining commitment to activate this exercise is delivering a NI 43-101 Technical Report, which is anticipated to completed in January.
The NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper PGM 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.
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.
Power Nickel announced on June 8, 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 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, reportedly exploited between 1921 and 1939. These mineral showings are Polymetallic veins containing quantities of silver, lead, zinc, plus/minus gold, plus/minus copper.
Power Nickel is also 100% 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 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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