The intersection contained 5.1 metres of 0.61 gram gold per tonne, 50.29 grams silver, 13.27% copper, 24.62 grams palladium, 6.73 grams platinum and 0.33% nickel.
In flip, that part contained 3.4 metres of 0.7 gram gold, 60.36 grams silver, 17.26% copper, 25.02 grams palladium, 3.61 grams platinum and 0.37% nickel.
“This can be a particular discovery. These are huge intersections to be that top grade and we’re seeing a sample right here,” Energy Nickel CEO Terry Lynch mentioned in a launch. “This intersection is within the high-grade wheelhouse that’s plus or minus 100 metres huge and appears to have a potential mineralized halo round it of 50-70 metres.”
Energy Nickel accomplished 15 holes at Lion as a part of its winter drill program; its summer season drill program will proceed at Lion to comply with up on these holes, which mark its deepest discovery up to now.
In April, Energy Nickel accomplished an 80% earn-in on Nisk from Essential Parts Lithium (CRE: TSXV), after submitting a useful resource estimate in November.
The mission hosts underground sources of 4.9 million indicated tonnes grading 0.78% nickel, 0.05% cobalt, 0.42% copper, 0.78 gram palladium per tonne for 38,300 tonnes nickel, 2,400 tonnes cobalt, 20,500 tonnes copper and 123,100 tonnes palladium.
Open pit sources whole 519,000 indicated tonnes at 0.63% nickel, 0.04% cobalt, 0.3% copper and 0.56 grams palladium for 3,300 tonnes nickel, 200 tonnes cobalt, 1,600 tonnes copper and 9,400 tonnes palladium.
Energy Nickel first optioned the mission, situated within the James Bay area of Quebec, in 2021. The corporate is concentrating on the creation of a carbon impartial nickel mine by sourcing hydroelectric energy from Hydro Quebec, and using carbon seize know-how on the location.
The Nisk deposit was first found by Inco, now Vale (NYSE: VALE), in 1962.
Essential Parts Lithium bought the location in 2014, however had not superior the mission.
Shares within the firm ended the day up 6.5% at C$0.66, giving Energy Nickel a market cap of C$107.2 million. The shares have traded in a 52-week vary of C$0.18 to C$0.73.