Power Nickel Inc. (the 'Company' or 'Power Nickel') (TSXV:PNPN), (OTCBB:PNPNF), (Frankfurt:IVVI) is pleased to announce the latest results from drill holes PN-23-029 to 035.
These eight (8) holes were drilled to test distal targets east (PN-23-030/-031) and west (PN-23-029) of the Main Nisk deposit as well as to expand on high-grade intersections at Nisk Main.
Commented Power Nickel CEO Terry Lynch, 'Another strong result from our Nisk main deposit, these holes will be valuable additions to the resource calculation. This concludes an amazing drill season for us at Nisk.
We are very excited now to get the drill results from over 15,000 metres of drilling incorporated into our much anticipated inaugural NI 43-101 mineral resource estimate which we expect to deliver in late Q3.
As you read this release, we are readying the Geodes for the Ambient Noise Tomography program. This program will be conducted to assist in the identification of the next prime targets for our Nisk Project (as released earlier this year). Preliminary surveys will be conducted over our core ore zones at Nisk Main where there is a wealth of scientific data. This will enable us to correlate this exciting, advanced technology to reveal what we hope will be the identification of the next Nickel PGM Pods at Nisk.'
Next steps at Nisk include deploying the Ambient Noise Tomography program, completing the analysis of the recent Airborne MAG/EM survey, readying the drilling team for the July start of the funded 15,000 metre drill program, receipt of the metallurgical studies report and the publication of the inaugural NI 43-101 mineral resource estimate at Nisk.
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on developing the High Grade 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)
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.[1]
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 8th, 2021, that an agreement has 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 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.
The resource estimates at Nisk are historical in nature and the Company's geology team has not completed sufficient work to confirm an NI 43-101 mineral resource. Mineral resource information is derived from the technical report titled 'Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Quebec' dated December 2009. The key assumptions, parameters, and methods used to prepare the mineral resource estimates are set out in the technical report. This report, prepared by RSW Inc in 2009, can be found on the SEDAR website.
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-per-cent 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.
Contact:
Mr. Terry Lynch
Tel: 647-448-8044
Email: terry@powernickel.com
CHILEAN METALS INC. 
