07:43 AM EDT, 10/03/2024 (MT Newswires) -- Power Nickel ( PNPNF ) reported Thursday its "biggest intersection yet" at the Lion Zone discovery within the Nisk project in Canada.

The company said drillhole 70 delivered 32 meters with 6.97% copper equivalent.

"With one of our best holes to date, it is becoming more evident that the Lion discovery is substantially bigger than we originally envisioned," CEO Terry Lynch said. "Taking education from the holes drilled and announced earlier this week, we went further west and much shallower and struck the zone at 118 meters. This is very encouraging for lots of reasons: size of zone, grade, depth of intersection, and the move westward."

Assays from the remaining holes of its 2024 summer drill campaign are now in at the laboratory, with results expected to be released in October.

The company's share price gained 5.3% yesterday to $0.79 on the TSXV.