Power Nickel Closes $0.90 per share Flow-Through Financing of $2.75 Million
Summary
In this base case study, metallurgical work suggests that our concentrate would show recovery rates of 70% Ni, 45% Cu, 75% Co and 40% Pd; neither Iron nor Platinum were considered being part of the "payables". "We have continued to hit significant Ni-PGMs mineralization at Nisk and we look forward to accelerating its exploration in the coming months," Mr. Lynch commented.Kenneth Williamson, G\xe9o, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.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 kilometres of strike length) with numerous high-grade intercepts. 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 100-per-cent owner of five properties comprising over 50,000 acres strategically located in the prolific iron-oxide-copper-gold belt of northern Chile. None The MRE encompasses one mineralized zone defined by a constraining solid with a minimum true thickness of 2.0 m. A value of zero grade was applied where core has not been assayed. Such material risks and uncertainties include, but are not limited to, among others, the timing for various drilling plans; the timing for various activities being conducted by CVMR and potential recovery rates by CVMR processes; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other 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 accepted, to obtain such licenses and approvals in a timely fashion relative to the Companys plans and business objectives for the applicable project; 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 Companys operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.For further information, please contact:Mr. Duncan Roy, VP Investor Relations416-580-3862duncan@powernickel.com