Source: Premium Nickel Resources Ltd.
  • Premium Nickel (PNRL) reported more assay results from the diamond drilling program at its Selebi nickel-copper-cobalt (Ni-Cu-Co) sulphide mine in Botswana
  • The first phase of drilling sought to demonstrate the potential of the Selebi Mine mineralized structures within the 3 km area between the Selebi historical mine workings to the south and the Selebi North historic mine workings to the north
  • The Selebi and Selebi North deposits are part of one large mineralized system, and that mineralization is present in at least two mineralized amphibolite-hosted horizons: the Upper Interval and Lower Interval
  • Premium Nickel Resources (PNRL) is down 3.85 per cent, trading at C$2.00 per share as of 11:00 am ET

Premium Nickel (PNRL) reported more assay results from the diamond drilling program at its Selebi nickel-copper-cobalt (Ni-Cu-Co) sulphide mine in Botswana.

Completed earlier this month, the first phase of the drilling program sought to demonstrate the potential of the Selebi Mine mineralized structures within the 3 km area between the Selebi historical mine workings to the south and the Selebi North historic mine workings to the north.

Comparing the program’s results to the borehole electromagnetic (BHEM) program provided significant evidence that the Selebi and Selebi North deposits are part of one large mineralized system. That mineralization is present in at least two mineralized amphibolite-hosted horizons: the Upper Interval and Lower Interval.

The company has completed 15,074 metres of diamond drilling in the first phase of the drill program at the Selebi Mine, resulting in multiple high-grade intercepts.

Source: Premium Nickel Resources Ltd.

Highlights:

  • SMD-22-009a-W2: 16.75 metres of 1.72 per cent NiEq (1.00 per cent Ni, 2.05 per cent Cu, 0.04 per cent Co)
    • including 9.35 metres of 2.39 per cent NiEq (1.34 per cent Ni, 3.01 per cent Cu, 0.05 per cent Co)
      and 2.20 metres of 1.76 per cent NiEq (1.33 per cent Ni, 1.11 per cent Cu, 0.05 per cent Co)
  • SMD-22-008a-W2: 9.90 metres of 0.73 per cent NiEq (0.35 per cent Ni, 1.13 per cent Cu, 0.01 per cent Co)
    • including 6.00 metres of 0.78 per cent NiEq (0.26 per cent Ni, 1.58 per cent Cu, 0.01 per cent Co)

The company’s CEO, Keith Morrison, commented,

“PNRL’s previous drill holes on the Selebi Mine revealed substantial expansion potential and continuity of mineralization along strike, down dip and down plunge of the 2016 SAMREC resource estimate reported at Selebi. The previous holes were designed to test the upside potential of the Selebi mineralization, while the holes in this release were drilled up-dip and down-dip of previous mineralization. By reducing the distance between holes, the Company is gaining a deeper understanding of the structural controls on mineralization and making progress toward defining a potential inferred mineral resource that may be used in a future PEA prepared in accordance with NI 43-101. The intersection in SMD-22-009a, located 140 metres up-dip of sd119, highlights the potential dip extent of substantial mineralization widths.”

Premium Nickel Resources Ltd. (PNRL) explores and develops high-quality nickel, copper, and cobalt resources. Drilling at its flagship Selebi Mine in Botswana is expected to last for up to 18 months, with the delivery of a compliant preliminary economic assessment slated for the end of 2023.

The company also holds interests in projects in Greenland and Canada.

Premium Nickel Resources (PNRL) is down 3.85 per cent, trading at C$2.00 per share as of 11:00 am ET.


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