29 November 2023
Premium Nickel Resources Ltd. [TSXV-PNRL; OTCQX-PNLLF] reported additional assay results from drilling at its past-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi North underground (SNUG) mine in Botswana. Results have been previously released for six holes and results for a further six holes are released here.
Highlights include SNUG-23-028 (South Limb) that returned 10.75 metres of 1.90% NiEq (1.15% Ni; 1.40% Cu; 0.06% Co) and 13.50 metres of 1.86% NiEq (1.34% Ni; 0.84% Cu; 0.07% Co)
SNUG-23-032 (N2 Limb) returned 22.00 metres of 1.74% NiEq (1.22% Ni; 0.89% Cu; 0.06% Co), including 13.45 metres of 2.19% NiEq (1.52% Ni; 1.17% Cu; 0.07% Co).
Keith Morrison, CEO, commented:
“Our underground drilling at Selebi North continues at higher productivity rates than anticipated. Recent drilling results confirm that the legacy fold pattern identified in the mine (South Limb, N2 Limb and N3 Limb) continues beyond the historic South African Mineral Resource Committee (“SAMREC”) resource block model.
We have intercepts of thicker remobilised conductive massive sulphide mineralisation associated with these folds. The combination of fold/fault structures and high electrical conductivity will provide effective targeting for following this higher-grade mineralisation both inside and outside the legacy SAMREC resource.”
The objective of these holes is to define mineralisation down plunge of the existing workings that will be used to complete a Mineral Resource Estimation (MRE) prepared in accordance with NI 43-101 Standards. The various mineralised zones have been historically mined and subsequently named N2 Limb, N3 Limb and South Limb to demarcate their location on the folded mineralised horizon.
The underground drill program will be carried out from seven drill bays. Three drill rigs are currently operating from drill bays on the 880L, 895L and 935L, and targeting the areas nearest existing mine development.
As of November 23, 2023, a total of 13,817 metres in 40 drillholes have been completed from the initial three underground drill bays. During this initial phase, drilling is targeting the area down plunge of mine infrastructure to characterise the remaining resource. Concurrently, step-out drilling will occur further down plunge with the aim to demonstrate upside potential which will support a future MRE. Assay results for completed holes will be released as they are received and confirmed by the Company.
Additional drill holes in the N2 Limb, N3 Limb and South Limb mineralisation have been recently concluded and are now in the process of preparation for shipment to the lab for testing.
PNRL is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the company in Botswana.
