Power Nickel’s (TSXV:PNPN) NISK nickel sulphide project near James Bay in Quebec has the potential to become Canada’s next nickel sulphide mine and one of the greenest sources of class 1 nickel in history, according to Power Nickel CEO Terry Lynch.
“Nickel is becoming so important because it’s probably the most efficient storage metal for chemical composition in batteries. We can, obviously, support the Green Revolution,” said Lynch after the company released an initial NI 43-101 compliant mineral resource estimate.
“We were very pleased to produce our first inaugural NI 43-101, basically close to 4 million tonnes of indicated and inferred resource, about 1.25 percent nickel equivalent,” Lynch said. “We use very conservative numbers. Through simple infill drilling techniques, we could easily probably add another couple million tonnes to that.”
The mineral resource estimate on the NISK nickel sulphide project showed more than 2.5 million indicated tonnes at 1.2 percent nickel equivalent and 1.4 million inferred tonnes at 1.29 percent nickel equivalent. According to the company, the resource update has demonstrated to the market the very strong probability that the NISK project could realistically become Canada’s next nickel sulfide mine.
In March 2022, Power Nickel announced a follow-up 5,000 meter program. “We’re super excited about our next already announced and financed 5,000 meter program, which is going to start in August. Our geological team feels that this project ultimately will be like the Lynn Lake project, which was 22 million tonnes, or Voisey’s Bay — that’s over 50 million tonnes. We’re thinking we’re going to be somewhere in between there.”
Power Nickel is also developing its NISK project into one of the greenest sources of class-1 nickel in history, according to the company. The project is located across the road from a major Hydro-Quebec substation, which can power everything with green energy. Additionally, because the mine would be a small, open pit, it would have a very small footprint. Lynch also said that they are working with some cutting edge carbon technology firms in conducting studies on how erudite rocks, which carry nickel, absorb carbon dioxide. ”We can become net positive in terms of being able to consume carbon dioxide, earn credits and benefit the project financially.”
Watch the full interview of Power Nickel CEO Terry Lynch above.
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