Power Nickel Inc. announced that hole PN-24-047 of the drill program aiming at following up on the Wildcat high-grade PGM intersection has intersected the anticipated mineralized zone some 40 meters to East of the discovery hole. Along with PN-24-044, this makes it the third intersection similar to the discovery hole announced May 10th, 2023. An EM anomaly was also tested some 225 m further East (PN-24-045) but did not visually intersect significant mineralization.

As previously stated, PN-24-044 successfully intersected the chalcopyrite-rich zone approximately 100 m downdip the initial Hole PN-23-031A. Confirmation of the zone presence at depth was part of a strategy to systematically drill a series of EM targets that are lining up with the tonalite-ultramafics contact at surface. Given the triple amount of massive chalcopyrite observed in hole PN-24-044 compared to PN-23-031 A, the focus of the Wildcat drilling program has now shifted to defining the extent of the mineralized zone.

The remaining EM anomalies shall be tested later. A series of off-section drillholes were planned on a 50 m grid to start defining the volume of the high-grade PGM mineralized zone. The current hole PN-24-048, planned to test the lateral continuity of the zone to the east, encountered the anticipated zone at a downhole depth of approximately 150 m.