Power Nickel Reports Exceptional Drill Results at Lion Discovery Site

Power Nickel Inc CEO Terry Lynch announced the initial assay results for hole PN-24-044, a key component of the company's ongoing drill program at the Lion Discovery site. The results have been overwhelmingly positive, with 15 out of 16 holes yielding promising mineralization indicators. The PN-24-044 intersection revealed 0.60 meters of 24.3 grams of gold, 5.7 grams of silver, 5.29% copper, 3.26 grams of palladium, 0.29 grams of platinum, and 3.31% nickel, demonstrating the rich metal content potential of the area.

The ongoing drill program utilizes a standard fan drilling design that has systematically probed the mineralized zone with exceptional results. The current mineralized envelope extends to a minimum depth of 300 meters below the surface and spans a lateral distance of at least 225 meters. Importantly, the mineralization remains open in all directions, suggesting potential for further expansion and discovery. This geological configuration indicates substantial resource potential that could significantly impact the company's asset valuation.

Based on current interpretation, the mineralized zone is situated at the contact with ultramafic rock and exhibits a sigmoidal geometry. A high-grade shoot has been identified, steeply plunging to the north-northeast direction, adding complexity and excitement to the exploration efforts. The identification of this high-grade zone within the broader mineralized envelope provides strategic direction for future drilling campaigns and resource estimation work.

As Power Nickel continues to analyze data from its ongoing drill program, additional assay results are anticipated to provide further insights into the extent and richness of the mineralization at the Lion Discovery site. These forthcoming findings are expected to bolster the company's confidence in its exploration endeavors and potentially lead to resource definition and economic assessment phases. The consistent positive results from multiple drill holes suggest systematic mineralization patterns that could support substantial resource calculations.

The successful drill results position Power Nickel closer to unlocking the full potential of the Lion Discovery area, with implications for shareholder value creation and the company's strategic positioning in the mining sector. The combination of multiple valuable metals in significant concentrations represents a potentially economically viable deposit that could attract further investment and development interest in the project.