11:23 AM EST, 12/12/2024 (MT Newswires) -- Power Nickel ( PNPNF ) shares were last seen up 1.1% on Thursday after the company said it succeeded in drilling in the deepest holes at the Lion Zone Area and found the presence of significant mineralized intersections 125 meters below and 75 meters west of the currently discovered Lion Zone and intercepted 7 meters (Hole 93) and 13 meters (Hole 95A) of the mineralized geologic unit.

The company said the mineralized intersections extend the depth of the Lion Zone mineralized unit down to 600 meters below surface.

"While assays are pending, Holes 93 and 95A suggest we have not yet found the limits of the Lion Zone mineralization at depth. Combined with hole 80 which tested the Lion Zone continuity along strike to the west, we are excited with the initial progress of this winter program and the pending assays as Power Nickel ( PNPNF ) looks towards 2025," said Power Nickel ( PNPNF ) Chief Executive Terry Lynch.

Shares of the company were last seen $0.01 higher at $0.93 on the TSX Venture Exchange.

Price: 0.93, Change: +0.01, Percent Change: +1.09