In a recent interview with InvestorNews host Tracy Weslosky, Power Nickel Inc.’s (TSXV: PNPN | OTCQB: PNPNF) CEO Terry Lynch discussed their recent announcement about raising C$2.75M at $0.90 per share, representing a significant premium to their existing share price.
Terry highlighted the significance of their partnership with CVMR Corporation, one of the world’s leaders in Nickel Powder, Wire, and Anode production, as Power Nickel moves into the next stage of Feasibility Study at their Nisk Nickel Sulfide Project in Quebec. Terry explains that their collaboration involves a feasibility study to process Power Nickel’s ore using CVMR’s Chemical Vapour Deposition process, the most environmentally friendly way to make Nickel.
Lynch stressed their commitment to creating Canada’s first carbon-neutral nickel mine. Their advantageous location near Hydro Quebec and presence of ultramafic tailings at NISK Project that can naturally sequester CO2 provide a foundation for sustainable operations. Lynch believes that clean nickel production from their NISK Project will command higher prices, contributing to increased revenue and profitability.
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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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