NISK
High-Grade Nickel
Sulphide Project


Powering a Sustainable Future

The NISK nickel sulphide project comprises a large land position (20 kilometers of strike length) with numerous high-grade intercepts for multiple battery metals, including Copper, Cobalt, Palladium, Platinum and Class-1 Nickel.

Located near James Bay in Quebec (Canada), NISK is ideally located to take advantage of low-cost, low-carbon hydro power to sustainably develop its resources.

Power Nickel is committed to developing NISK into one of the most sustainable sources of battery metals and class-1 nickel in the world.
Property Description
The Nisk property is composed of two blocks totaling 90 claims covering an area of 45.9 km2 and a length of over 20 km. The Route du Nord from Chibougamau runs inside the south border of the Property. Nisk-1 is also traversed in a NE direction by a Hydro-Québec power line and a road that heads north to the Eastmain River and beyond to the La Grande River area.
The Nisk project offers strong nickel potential in a well-established area. The Nisk property covers a large part of the regional volcano-sedimentary unit, a favourable unit that hosts Nemaska Lithium's Wabouchi lithium deposit and the Lemarre showing.
Located in the northeastern part of the Superior geological province, and more specifically in the northeastern part of the Lac des Montagnes Formation, the Lac des Montagnes volcano-sedimentary belt is a sequence of aluminous metasediments and amphibolites containing basalts and ultramafic sills.
These rocks are highly sheared and cut by 20% late granitoids (leucogranite and biotite pegmatite).
Pods of Nickel
Globally nickel sulphide deposits tend to exist as pods or as a string of pearls with each pearl representing a deposit. We believe this is what we have here at Nisk and, with our actual understanding of the Nisk litho-structural setting, we expect a well-planned drill program to help expand beyond our first pearl at Nisk Main to hopefully other pearls located in our project land package.
Geology
The Lac des Montagnes volcano-sedimentary formation crosses the property in a NE direction. The geology covered by the property is mainly composed of biotite, sillimanite, staurotide and garnet-bearing gneisses and granites, pegmatites, amphibolites and ultramafic intrusive rocks. Geophysical surveys show the signature and extent of ultramafic intrusions, some of which have been historically confirmed by drilling. The North of the Lac des Montagnes formation is mainly composed by orthogneisses intruded by granites, while the South area of this formation is composed principally of paragneisses, also intruded by granites.
Mineralization
The property is currently known for its magmatic nickel-copper sulphide deposits associated with ultramafic intrusion potential. It notably holds the Nisk-1 Ni-Cu-PGE deposit.
Nisk-1 Ni-Cu-PGE deposit
The Nisk-1 deposit is located at UTM coordinates 459,950 mE / 5,728,500 mN. It is hosted in an elongated body of serpentinized ultramafic rocks that intrude the Lac des Montagnes paragneiss and amphibolite sequence. The ultramafic rock intrusion is a sill bordered by paragneisses and amphibolites. Quite similar on either side of the ultramafic sill, they still can be subdivided into a lower paragneiss sequence ("LPS") to the NW of the sill (stratigraphically older) and an upper paragneiss sequence ("UPS") to the SE of the sill (stratigraphically younger).
The ultramafic sill is not a single intrusion. At least two distinct lithological units can be identified. The first, a grey serpentinized peridotite with magnetite veinlets, does not contain any sulphide minerals. The second is a black serpentinized peridotite with chrysotile veinlets. The Ni-Cu-Co-Fe sulphide mineralization is invariably associated with this black serpentinite.
sIn summary and on average, the sequence intersected by drilling, (striking N164°E with a 50° to 70° plunge to the SE) in the ultramafic body is as follows: (i) 35 meters of unmineralized grey serpentinite; (ii) 4 meters of unmineralized black serpentinite; (iii) 12 meters of massive to disseminated sulphides in black serpentinite; and (iv) 27 meters of unmineralized black serpentinite, sometimes alternating with the grey serpentinite, also unmineralized.
The Nisk-1 deposit is the only mineralized zone with estimated resources on the property.
Technical Analysis & Due Diligence

Historical Resources

The existing resource estimates at the Nisk project are of historic nature and therefore caution is appropriate since these historic estimates cannot, and should not be relied upon.
Power Nickel's recent drilling program was designed to confirm these historic resources and the company's geology team is working to complete an updated NI 43-101 compliant mineral resource that reflects the recent drill program. Expect to see this in the months ahead.
The information contained in the table above is derived from the technical report titled "Resource Estimate for the NISK-1 Deposit, Lac Levac Property, Nemiscau, Québec" dated December 2009. The key assumptions, parameters, and methods used to prepare the mineral resource estimates are set out in the technical report.

Analysis and QAQC Procedures

All samples were submitted to and analyzed at ALS Global ("ALS"), an independent commercial laboratory located in Val-d'Or, Québec for both the sample preparation and assaying. ALS is a commercial laboratory independent of Power Nickel with no interest in the Project. ALS is an ISO 9001 and 17025 certified and accredited laboratory. Samples submitted through ALS are run through standard preparation methods and analyzed using ME-ICP61a (33 element Suite; 0.4g sample; Intermediate Level Four Acid Digestion) and PGM-ICP27 (Pt, Pd, and Au; 30g fire assay and ICP-AES Finish) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.
Power Nickel's QA/QC program includes the regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. Historic holes were assayed by various accredited laboratories.

Future Drilling and Exploration

The 3D geological model developed by 3DGeo Solution Inc. ("3DGS") identified a prospective set of targets that the Company feels will give the best potential to expand the Nisk historical deposit. The image below is a view of the mineralization projected from the surface of the area we refer to as Nisk Main.
Nisk has four distinct target areas covering over 7 Kilometres of strike length. Our focus this round was on the Nisk Main target. Historically, we know globally these types of deposits typically have multiple pods. We are encouraged by what we see on Nisk Main and feel we can continue to build commercial tonnage there but we are also looking forward to exploring Nisk West and the two wildcat targets in subsequent drilling in Q2

Regional Magnetics

2021 Drilling Program

We are very pleased with the 2021 drilling results and are quite excited to be able to follow up our initial program with this new program in Q2 after breakup. We will continue to test the extension of Nisk Main and additionally several new target zones.
Results obtained during the 2021 drilling program are from 7 holes that were planned to either confirm or expand the historical resources reported in 2009. These results, presented below, successfully demonstrated the existence of the Nisk main mineralized lense, and appear to be representative of what was expected from the historical work.
* UTM NAD83, Zone 18N
** True widths are estimated to be 70 to 90% of core length
The table above and the illustration below detail the current results and location of drill holes covered in the releases dated March 1, March 14, and March 30, 2022.

Historic High Grade Nickel Intercepts

Nisk has historically had some very high-grade Nickel intercepts as shown below. The Grade-Thickness iso-contours are representative of the nickel distribution only

Open and Transparent Data

We strongly believe in empowering investors to dive deeper into all of our NISK data. We invite interested investors to visit the NISK data page to interactively explore all relevant data about NISK; or, if you prefer to explore the data in your own way you can simply download all the data for your own use.
 

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