11:52 AM EST, 02/05/2025 (MT Newswires) -- (Updates shares.)

Power Nickel ( PNPNF ) on Wednesday released drilling results from five holes of its fall campaign testing multiple targets in the Lion zone area.

Assays have now confirmed an extension of the high-grade zone based on results from drill hole PN-24-095a, the company said.

Highlights of the results include 10.6% copper equivalent over 5.35 meters within 3.61% copper equivalent over 19.40 meters at hole PN-24-095a.

Drill holes PN-24-082 to PN-24-085 were designed to intersect the target horizon around 100-200 meters west of known mineralization. The holes only returned weakly geochemically anomalous platinum and palladium of up to 0.14 g/t combined.

Drill hole PN-24-88 was drilled to test an anomaly halfway between Lion and the Lion East discovery hole PN-24-094 about 700 meters east of Lion. PN-24-88 contained minor sporadic gold and copper values of up to 0.09 g/t and 0.17%, respectively.

"Additional targets are expected along the trend between and the Nisk and Lion deposits, providing more drill targets for our Winter 2025 program," said Joe Campbell, Power Nickel's ( PNPNF ) vice president of exploration.

Power Nickel ( PNPNF ) shares were last seen up $0.075 to $1.53 on the TSX Venture Exchange

Price: 1.52, Change: +0.07, Percent Change: +4.83