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Power Nickel to Commence 4000 metre Drilling Program on Its Major Nickel Development Target "Nisk"
TORONTO, ON / ACCESSWIRE / November 1, 2021 / Power Nickel Inc . (the "Company" or "Power Ni...
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"Power Nickel to Commence 4000 metre Drilling Program on Its Major Nickel Development Target \"Nisk\"TORONTO, ON / ACCESSWIRE / November 1, 2021 / Power Nickel Inc. (the \"Company\" or \"Power Nickel\") (TSXV:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI) is pleased to announce that it has received and approved a 3D Litho-Structural Report on the Nisk project in James Bay from 3DGeo-Solution Inc. (\"3DGS\"), an expert in 3D modeling and Mineral Resource Estimation. The report identified a prospective set of targets that is felt will give the best potential to expand the Nisk historical deposit.The resource estimates at the Nisk project are of historic nature and the Company's geology team has not completed sufficient work to confirm a NI 43-101 compliant mineral resource. Therefore, caution is appropriate since these historic estimates cannot, and should not be relied on. For merely informational purposes see Table 1.Table ‑1: Historical Resource Estimate figures for respective confidence categories at the NISK-1 deposit, After RSW Inc 2009: Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec.The information regarding the NISK-1 deposit was derived from the technical report titled \"Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec\" dated December 2009. The key assumptions, parameters and methods used to prepare the mineral resource estimates described above are set out in the technical report.The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel, formerly Chilean Metals is focused on confirming and expanding its current high-grade nickel-copper PGE mineralization historical resource by preparing a new Mineral Resource Estimate in accordance with NI 43-101, identifying additional high-grade mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries to be used in the electric vehicles industry.3DGS recommended an initial drill program of around 4000 metres covering approximately 15 holes ranging in depth from 80 metres to 500 metres. Following the drill program, 3DGSwill be responsible to prepare the NI 43-101 compliant Mineral Resource Estimate and Technical Report.Nisk has four distinct target areas covering over 7 Kilometres of strike length....