Power Nickel Announces Partnership With Fleet Space Technologies Proprietary "Exosphere" Approach To Enhance Exploration at Nisk Mining Project
Power Nickel Announces Partnership With Fleet Space
Technologies
Proprietary "Exosphere" Approach To Enhance Exploration at Nisk Mining Project
TORONTO, ON / ACCESSWIRE / January 31, 2022 / Power Nickel Inc. (the "Company" or
"Power Nickel") (TSX-V:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI)
Power Nickel, a Canadian metal exploration company, has announced a partnership with
Australian-based Fleet Space Technologies, a developer and operator of a constellation of
microsatellites that delivers universal connectivity across the globe, including the exploration of
Nickel ore deposits at its NISK project. Power Nickel, which specializes in the exploration of
high-potential nickel, copper, gold, and other battery metal prospects in Canada and Chile, will
use innovative sound mapping technology from Fleet Space to locate additional high-grade
nickel sulfide deposits with a greater level of accuracy.
Called "ExoSphere," a rapid mineral exploration solution, Fleet Space mapping technology has
already delivered promising results in exploration projects for high-grade nickel in Michigan and
Minnesota. The satellite-enabled earth scanning technique is called Ambient Noise Tomography
(ANT). Battery-powered devices known as ‘Geodes', which can be transported by hand, are used
to capture background vibrations from natural and man-made sources. The data can be used to
develop a full 3D visualization of the subsurface down to 2 km depth. Fleet's Geodes are up to
10x more sensitive than existing nodal geophones, leading to better accuracy and depth of
results. The exploration team can get a clear, rich image of what resources may be below ground
in a period that can be as short as four days. These can be easily shared and viewed from
anywhere in the world in near real-time. The data thus obtained is processed rapidly and
transmitted from anywhere in the world through Fleet's constellation of low-earth orbit satellites,
which were recently launched by Elon Musk's company, SpaceX.
Historically nickel sulfide deposits are located in the form of pods in a geographic area. It is
expected that the nickel ore deposits at NISK are also in the form of such pods. Currently, Power
Nickel is exploring 1 square kilometer of its 45 square kilometer land package. Using Fleet
Space's earth scanning technology, Power Nickel hopes to optimize its chances of finding
additional deposits and increase its drilling accuracy as part of a well-developed drilling
program. Another benefit that the use of the technology offers is that due to its higher level of
accuracy in detecting nickel ore deposits, it can decrease land disturbance in the exploration
stage.
Power Nickel, the company's flagship NISK project, has high-grade nickel sulfide deposits that
have the potential to be among the most low-cost and environmentally-friendly sources of high-
grade nickel in the world. This is due to several factors: the mine's proximity to a hydropower
facility, established infrastructure, and shallow mineral depth. Indonesia's recent ban on export of
nickel is likely to have a major impact on the supply chain for critical products like electric
vehicles and rocket engines. This points to the urgent need for countries like Canada and the US
to become self-reliant with regard to nickel supplies in light of the growing demand for vehicles
running on clean energy.
Commenting on the partnership, Terry Lynch, the CEO of Power Nickel said, "While we are
having excellent success drilling at Nisk as evidenced by our recent drill results. We are looking
for lots more drill cores like this. A sampling of core from hole 23 that we completed last week.
"Fleet Space Technologies has already successfully used this technology in Australia and now in
Minnesota. By using this advanced seismic tomography approach in combination with our in-
house methods, we hope to increase our chances of finding more nickel ore pods at a faster rate.
The two main advantages this technology offers are that we can now explore our 45-square-
kilometer land package in a fraction of the time we need using traditional ground-based methods.
The second advantage is that with this data, we can drill fewer meters but with increased impact.
Use of this technology aligns well with our goal of making nickel mining cleaner, faster, and
more environmentally friendly right from the exploration phase."
Fleet Space founder Flavia Tata Nardini said, "We're delighted to see ExoSphere deployed in
Canada for the first time, building on our success in the US and elsewhere around the world. As
well as great technology and commercial partnership, this is a real meeting of minds. We both
understand the urgent need to accelerate the discovery process for these vital minerals, but we're
also equally committed to minimizing their environmental impact. Power Nickel is precisely the
kind of forward-thinking, responsible enterprise ExoSphere was designed for: it's great to be
working with them on this project."
Qualified Person
Kenneth Williamson, Géo, M.Sc. from 3DGeo Solution Inc and consultant to Power Nickel, is the
independent qualified person who has reviewed and approved the technical disclosure contained
in this news release.
About Power Nickel Inc.
Power Nickel is a Canadian junior exploration company focusing on high-potential copper, gold,
and battery metal prospects in Canada and Chile.
On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its
option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp.
(CRE:TSXV)
The NISK property comprises a large land position (20 kilometers of strike length) with
numerous high-grade intercepts. Power Nickel is focused on expanding its current high-grade
nickel-copper PGE mineralization Ni 43- 101 resource with a series of drill programs designed to
test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel
deposits.
Highlights
Recent assay results from the current drill program at the Nisk deposit continue to return high-
grade Ni-Cu- Co sulfide and PGE mineralization.
Significant results from this batch of assays include:
40.3m @ 0.88% Ni, 0.56% Cu, 0.06% Co, 1.64 ppm Pd and 0.15 ppm Pt (PN-22-009)
Including:
25.86m @ 1.17% Ni, 0.80% Cu, 0.08% Co, 1.46 ppm Pd and 0.23 ppm Pt
Power Nickel announced on June 8th, 2021, that an agreement has been made to complete the
100% acquisition of its Golden Ivan project in the heart of the Golden Triangle. The Golden
Triangle has reported mineral resources (past production and current resources) in a total of 130
million ounces of gold, 800 million ounces of silver, and 40 billion pounds of copper.(Resource
World) This property hosts two known mineral showings (Gold ore and Magee), and a portion of
the past-producing Silverado mine, which was reportedly exploited between 1921 and 1939.
These mineral showings are described as polymetallic veins containing quantities of silver, lead,
zinc, plus/minus gold, and plus/minus copper.
Power Nickel is also 100 percent owner of five properties comprising over 50,000 acres
strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. It also owns a
3-per-cent NSR royalty interest on any future production from the Copaquire copper-
molybdenum deposit, which was sold to a subsidiary of Teck Resources Inc. Under the terms of
the sale agreement, Teck has the right to acquire one-third of the 3-per-cent NSR for $ 3 million
at any time. The Copaquire property borders Teck's producing Quebrada Blanca copper mine in
Chile's first region.
For further information, please contact:
Mr. Terry Lynch, CEO
647-448-8044, [email protected]
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Media Contact
Name: Terry Lynch
Email: [email protected]
Website: www.powernickel.com
About Fleet Space Technologies
Fleet Space Technologies is Australia's leading space company. It is headquartered in Adelaide,
South Australia, the centre of the country's rapidly growing space industry. Fleet also has a
global presence including a US HQ in Houston, Texas, the home of NASA. Fleet is rapidly
expanding its satellite constellation to provide limitless data and global reach to realize the
potential of millions of Internet of Things (IoT) devices.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking " concerning
the Company within the meaning of applicable sec urities laws. Forward-looking statements are
statements that are not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential",
"indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will",
"would", "may", "could" or "should" occur. Although the Company believes the expectations
expressed in such forward -looking statements are based on reasonable assumptions , such
statements are not guarantees of future performance, are subject to risks and uncertainties, and
actual results or realities may differ materially from those in the forward-looking statements. Such
material risks and uncertainties include, but are n ot limited to, the Company's ability to raise
sufficient capital to fund its planned activities at the NISK Property and for general working
capital purposes; the timing and costs of future activities on the Company's properties;
maintaining its mineral tenures and concessions in good standing; changes in economic conditions
or financial markets; the inherent hazards associates with mineral exploration and mining
operations; future prices of metals; changes in general economic conditions; accuracy of mineral
resource and reserve estimates; the potential for new discoveries; the ability of the Company to
obtain the necessary permits and consents required to explore, drill and develop the projects and
if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans
and business objectives for the projects; the general ability of the Company to monetize its mineral
resources; and changes in environmental and other laws or regulations that could have an impact
on the Company's operations, compliance with environmental laws and regulations, dependence
on key management personnel and general competition in the mining industry. Forward -looking
statements are based on the reasonable beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required by law, the Company
undertakes no obligation to update these forward -looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Power Nickel Inc.