Power Nickel Inc CEO Terry Lynch joined Proactive’s Steve Darling with an update on the company’s recent assay results and developments.
Power Nickel conducted a step-out hole to test the Nisk Main Deposit, positioning it 300 meters to the south and east of previous drilling. The assay results from this step-out hole revealed a 19.5-meter interval, commencing at a downhole distance of 463.5 meters.
Notably, the initial hole showed 1.75 meters of 1.10% Ni (nickel) and 4.54% Cu (copper), along with 6 meters of 0.86% Ni and 0.54% Cu. Lynch explained that the west side of Nisk Main Deposit contains higher-grade material, and these findings reaffirm that trend.
The company anticipates further promising results from two holes with pending assay results, indicating that Nisk Main West remains open at depth. Subsequent drilling activities leading up to Christmas will focus on significant step-outs in this area to further explore its potential.
In addition to the exploration updates, Lynch shared that Power Nickel Inc has successfully closed the previously announced private placement, raising gross proceeds of $705,000. These funds will contribute to the company’s ongoing exploration efforts and support its objectives in unlocking the value of its nickel and copper deposits.