Business
Premium Nickel Resources Provides Update on Selebi Mines Project; Underground Drilling Commences at Selebi North
Toronto, Ontario--(Newsfile Corp. - August 16, 2023) - Premium Nickel Resources Ltd. (TSXV: PNRL) ("PNRL" or the "Company") is pleased to provide an update on t
About this update from Nexmetals Mining Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - August 16, 2023) - Premium Nickel Resources Ltd. (TSXV: PNRL) (\"PNRL\" or the \"Company\") is pleased to provide an update on the ongoing activities and progress at its 100% owned Selebi nickel-copper-cobalt (\"Ni-Cu-Co\") sulphide mines in Botswana. The Company has commenced the second phase of a focused strategy to develop the past-producing Selebi North and Selebi Main mines (together, the \"Selebi Mines\") with the initial objective of defining a mineral resource estimate on the Selebi Mines in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") and, pending positive results, the completion of a preliminary economic assessment (\"PEA\") on the Selebi Mines. Underground Drilling at Selebi North Underground drilling has commenced at the Selebi North deposit, with the initial phase targeting the historic resource area and stepping out immediately down plunge in an effort to expand the resource and demonstrate upside potential. Underground infrastructure refurbishment is ongoing and includes excavation and development of nine drill bays and exploration drifts totalling 320 metres. In addition, the Company is studying possible southward extension of the primary exploration drift at Selebi North, to facilitate drilling to test the borehole electromagnetic (\"BHEM\") targets that indicate that mineralization is continuous between the Selebi Main and Selebi North Mines. While phase 1 drilling was performed entirely by independent contractors, the current drill program is being conducted with Company-owned drill rigs operated by teams comprising both independent contractors and Company-trained employees. The planned underground drill program at Selebi North comprises approximately 52 holes, totaling approximately 32,000 metres. Drill holes collared from the Selebi North underground development will primarily target the historic mineral estimate and its down-plunge extent, supported by high conductance sources of BHEM anomalies identified during the Company's 2022 and 2023 BHEM program. The program will also test targets located to the south of the Selebi North historical workings to gather additional information as to whether the known Selebi North and Selebi Main deposits are part of a single mineralized system and are connected at depth (see...