Major Acquisitions Reshape and Revalue Power Nickel for a Commodities Bull Market

Aiming To Spin-Off Two Independent Public Companies: Consolidated Gold and Copper Inc.

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Power Nickel Inc. Profile

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Why Power Nickel Inc?

PNPN:TSXV

OTCBB- CMETF

https://powernickel.com/

 
Why Power Nickel
  • Major acquisitions totally reshape and revalue Power Nickel
  • Financing has capitalized next stage execution
  • NISK acquisition Historical Resource has great potential for expansion
    • 4000m Drill Program
    • 1st Assays return 19.9m of 0.7%Ni, 0.61% Cu, 0.04% Co, 0.81pGd, 0.39 nPt
    • Results suggest that, within this portion of the Main Nisk lens, higher grade mineralization extends an additional 150m at depth and to northeast
  • Battery Metals are hot - Nickel Copper Cobalt - NISK has all
  • Spin Off of NEWCO offer excellent bonus potential
  • Leadership team is well connected
  • Drilling NISK to update 43-101 in Q1/2022
Power Nickel Highlights: 
  • Chilean Metals Inc. has formally changed its name to "Power Nickel Inc." to reflect its focus on the development of its James Bay High-Grade Nickel Copper Cobalt Palladium "Nisk" Project.
  • Commenced 4000m Drill Program on Its Major #Nickel Development Target targeting high Grade nickel Copper Mineralzation for EV Battery
  • Power Nickel will hereafter create a subsidiary Consolidation Gold and Copper Inc. to be spun out as a separate public company where it will hold our interests in the British Columbia Golden Ivan project and complete suite of Chilean assets and sufficient capital for one year of operations.
  • Power Nickel will retain 80% ownership in Consolidation Gold and Copper, and
    • Shareholders of Power Nickel will directly receive the remaining 20% through a plan of arrangement.

Agreement for up to 80% of the NISK property, Chibougamau Quebec

  • High-grade nickel copper resource at Nisk targets batteries for the EV industry 
  • Critical Elements (CRE) Largest Shareholder in CMX

 

100-% owner of five Projects in the prolific iron-oxide-copper-gold belt of northern Chile 

  • Commenced drilling on the Tierra De Oro Project 
  • Phase 1 of drilling at its Tierra de Oro has returned 716g/t Silver 0.453% Copper over 2m

 Save Canadian Mining. https://savecanadianmining.com/

  • Chilean Metals CEO Terry Lynch is the founder
  • Industry leaders Like Eric Sprott, Sean Roosen and the TMX Group supportive

Copaquire copper-molybdenum deposit 3-per-cent NSR 

  • Chilean Metals sold its Copaquire property to Teck Resources Limited for $C3,033,500, with CMX retaining a 3% NSR (net smelter return) royalty on production.
  • Teck developing Copaquire triggers royalty 
  • Royalty a potential near term cash flow if sold

 

Key Projects:

Nisk: PGM/Battery Metals, Chibougamau Quebec  

Measured Resource:

  • 1,255,000T at 1.09% Ni; 0.56% Cu; 0.07% Co; 1.11 g/t Pd and 0.20 g/t Pt 

Indicated resource:

  • 783,000T at 1.00% Ni; 0.53% Cu; 0.06% Co; 0.91 g/t Pd and 0.29 g/t Pt 

Inferred resource:

  • 1,053,000T at 0.81% Ni; 0.32% Cu; 0.06% Co; 1.06 g/t Pd and 0.50 g/t Pt c    

About the NISK Property

The NISK property comprises two discontinuous blocks comprising a total of 90 mineral claims fora total of 4,589.11 ha.

  • NISK-1 block comprises 86 mineral claims for a total of 4,375.55ha, while  
  • The smaller NISK-2 block comprises 4 mineral claims for a total of 312.56 ha. Together these comprise the NISK property comprising a total of 90 mineral claims fora total of 4,589.11 ha,  

The NISK property lies approximately 284 km by road north of the mining town of Chibougamau

  • 45 km east of the Nemiscau airport, in the James Bay territory of Quebec. 
  • NISK Deposit is open at depth and along strike and poised for expansion 

Future Work:
Chilean plans to further advance the previously defined historic resources with confirmation drilling, additional infill, and resource definition drilling commencing in Q2.

  • An updated resource estimate will be prepared upon completion of the additional drilling.
  • Surface exploration is also contemplated for other prospective targets on the property.

Golden Ivan Project 

  • 3 kilometers East of Stewart, BC 
  • Heart of the golden triangle.  
  • Property hosts two known mineral showings:
    • (Gold Ore and Magee)
    • Portion of the past-producing Silverado mine,  
  • Mineral showings are described to be Polymetallic veins that contain quantities of silver, lead, zinc, plus/minus gold and plus/minus copper.
  • Predominantly all share transaction with $1.8m of work commitments

About the Golden Ivan Property 

  • The Golden Ivan property is situated toward the south of British Columbia’s prolific ‘Golden Triangle  
  • The Golden Ivan property is located approximately 15km south west of the Red Mountain Gold/Silver deposit and 30 km south of the historic Premier Gold mine. 
  • Several mineralized veins of the Porter–Idaho Deposit strike onto the Golden Ivan property’s  
  • The property is under explored, however 3 anomalies identified for future exploration 

Future Exploration:   

The initial phase of exploration is anticipated to include:  

  • systematic geological structural and alteration mapping
  • geochemical sampling across the property to determine any local areas of anomalism 
  • ground-based geophysics to confirm local structural trends
    •  initial drill program expected in the summer of 2021.

Previous Work:   

The property hosts two (2) known mineral showings (Gold Ore, and Magee),and a portion of the past producing Silverado Mine, which was reportedly exploited between 1921 and 1939.  

  • Mineral showings are described to be Polymetallic veins that contain quantities of Silver, Lead, Zinc +/- Gold +/- Copper.  
  • Numerous additional mineral occurrences, showings and past procuring mines are located in the immediate areas surrounding the property, further supporting the presence of widespread mineralization in the areas.   

In 2018 Precision Geophysics completed an 88-line kilometre combined magnetic and gamma-ray spectrometry survey on behalf of the vendor Granby Gold Inc. Standard magnetics and radiometric data products were prepared and additional interpolate structural analyses were performed on the collected data.  

  • A number of areas of coincident magnetic and radiometric anomalism have been identified, additionally ‘structurally prepared’ zones are identified from the structural analysis interpolates.  
  • Such characteristics are widely regarded as favourable indicators of widespread hydrothermal alteration aka Porphyries, and will likely aid in vectoring toward any causative source intrusions that may be located on the property.  

Teck Royalty

Chilean Metals sold its Copaquire property to Teck Resources Limited for Cad. $3,033,500, with CMX retaining a 3% NSR (net smelter return) royalty on production.

  • Teck has the right to purchase one third of the NSR for Cad. $3,000,000, thereby presenting the Company with near-term cash flow potential.

The royalty, whether 3% or reduced to 2% through Teck exercising its right,

  • has potential to provide significant future benefit to the Company in terms of non-dilutive exploration funding and/or
  • dividends to our shareholders,
  • may provide a model for the Company’s future accretive growth.

Copaquire is located in Chile’s 1st Region, 125 kms south of its capital city, Iquique, on upland plateau in a very well-endowed mineral neighbourhood and readily accessible via well-maintained all-weather roads.

The project adjoins Teck’s Quebrada Blanca mine, where leachable copper reserves will be depleted by 2016 at current production and reserve levels (Teck website). Anglo-Xstrata-Mitsui’s colossal Collahuasi copper mine also lies nearby.

Copaquire boasts two 43-101-compliant resources:

  • Sulfato South (dominantly copper) 
  • Cerro Moly (dominantly molybdenum)

Tierra de Oro

  • Tierra Del Oro (Land of Gold) project in 3rd Region of Atacama about 75 km south of Copiapó, Chile.
  • Future work involves a targeted Geophysics
  • Coordinate 2nd drill program in Q3

Previous exploration data generated by both the company and other historic operators have been compiled and 8,660 training points were subjected to evaluation by Windfall's propriety CARDS AI model. CARDS uses data mining techniques to analyze compiled exploration data and to identify areas target zones with high statistical similarity to known "signatures" of areas of copper, gold, and silver mineralization (Figures 3 and 4 below). A total of thirteen (13) prospective target zones were identified by the prediction analysis, of which in Phase 1 the company has elected to drill test two of the zones.

  • The 'Chanchero' Zone has previously been identified as being prospective for copper porphyry-style mineralization. The area comprises a 0.75 square kilometers zone of argillic and quartz-sericite-pyrite alteration hosted by augite-hornblende diorite to granodiorite with roof pendants of hornblende monzonite. The area was surveyed by 3-D Induced Polarization (IP) methods in 2008 and generated a chargeability anomaly greater at than 50MV/V at its core which is open at depth. The area was the focus of four (4) core holes that proposed to intersect the chargeability anomaly longitudinally and at depth. A two-meter sample at 120 m depth had a grade of 716 g / t Silver and 0.453% Copper was intersected in hole 3 on the figure below.

Figure 1: Locations of 4 Proposed drill holes at the Chanchero target, relative to the outline/projected shape of the greater at than 50MV/V chargeability anomaly as defined by the 2008 3-D Induced Polarization survey.

The 'Cobalt' zone is an AI generated target Gold anomaly that occurs along a pronounced structure and is located along strike from existing shallow artisanal gold workings. A single core hole was orientated to intersect the structure at depth below the projected level of the adjacent historical workings. No material results were generated at this target during the drilling.

Figure 3: Tierra De Oro property CARDS target model-A for Gold anomalism.

Figure 4: Tierra De Oro property CARDS target model-A for Copper anomalism.

https://cdn.investingnews.com/app/uploads/2021/02/chilean_fig4.jpg

 

Last changed at 01-Jun-2022 10:06AM by AGORACOM