Power Nickel Retains Karbon-X to Offset their 2023 Drill Program of Up to 40,000 metres, with Voluntary Carbon Offsets
Power Nickel Retains Karbon-X to Offset their 2023 Drill Program
of Up to 40,000 metres, with Voluntary Carbon Offsets
TORONTO, ON / January 26, 2023 / Power Nickel Inc. (the "Company" or "Power Nickel")
(TSXV:PNPN),(OTCQB:CMETF),(Frankfurt:IVVI) announced today that the company has
retained Karbon-X Corp (OTCQB:KARX) to retire 159 high quality Verra VCU carbon offsets,
in the name of Power Nickel Inc. These 159 carbon offsets will counteract 159 tonnes of
greenhouse gas (GHG) emitted by the burning of 60,000 litres of diesel in their exploratory
drilling operations and represents Power Nickel's commitment to offsetting their drilling program
in the years to come.
"These offsets will neutralize the Diesel fuel we will use to drill approximately 40,000 metres of
drilling. It symbolizes our goal of creating the world's first carbon neutral Nickel mine at our
Nisk Project in Nemaska Quebec. Karbon X and it's DrillGreen.ca initiative makes a lot of sense
to us. Miners are amongst the most environmentally friendly people I know and we need to start
showing the world we can and will find responsible ways to find the materials needed to power
the greening of our economy. This is a modest first step for us and I would hope other miners
will follow our lead" said Power Nickel CEO, Terry Lynch.
"The offsetting of industrial applications is a key part of the business of Karbon-X. It will take
both industrial and personal offsetting to foster environmental change. It is very encouraging to
see companies like Power Nickel leading the charge in their industry. I see a very bright future
for carbon offsetting of exploratory drilling in Canada and abroad." said Karbon-X CEO, Chad
Clovis.
One carbon offset represents the reduction, removal, or avoidance of one metric tonne of
greenhouse gas (GHG) emissions from a certified project. Each offset is certified by a third-party
verification board to ensure the projects efficacy and is identified by a unique serial number.
When organizations and individuals purchase carbon offsets to reduce their carbon footprint, the
offset is taken out of circulation. This process is referred to as retiring and ensures that each
offset can only be claimed once.
About Karbon-X Corp.
Karbón-X Corp is a tech-based carbon marketing company specializing in the sale of carbon
offsets to offset greenhouse gas emissions from industrial applications and also for everyday
citizens that are dedicated to reducing their impact on the planet. Industrial users purchase their
offset through direct sales, whereas everyday people can offset their life through a mobile APP
which will be launching in February 2023. The company invests in green projects with the
potential to generate carbon offsets, which will eventually be marketed through the mobile APP.
Karbon-X provides an opportunity for their online social media community to support projects
that are important to them and that positively impact the planet.
Chad Clovis, Chief Executive Officer & Director
+1-778-256-5730
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 to be Polymetallic veins that contain 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
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 statements"
with respect to the Company within the meaning of applicable securities 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 not 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 if management's beliefs, estimates, opinions, or other factors should
change.
SOURCE: Power Nickel Inc.