Premium Nickel Resources (TSXV:PNRL) (OTCQX: PNRLF) recently shared updates on its ongoing drill program at the Selebi North underground (SNUG) mine in Botswana, a site known for its nickel-copper-cobalt sulphide (Ni-Cu-Co) deposits. This follows previous announcements between November 14, 2023, and March 5, 2024, which reported results from 42 drillholes. The latest update includes results from an additional hole, bringing the total to 50 holes and 18,120 metres of drilling.
CEO, Keith Morrison commented in a press release: “By the end of March, we will have completed the underground drilling at Selebi North that will be included in our maiden Selebi NI 43-101 Mineral Resource Estimate. The objective of the Selebi MRE, expected in June, is to provide the basis to support the rapid redevelopment of these deposits using the existing shafts and infrastructure. The mineralization continues down plunge and down dip from beyond the drilling to be reported in the MRE, which is evidenced in recent drilling, BHEM results and historic drilling. The mineralization continues down plunge and down dip from beyond the drilling to be reported in the MRE, which is evidenced in recent drilling, BHEM results and historic drilling. News flow will continue with assay results from the latest phase of underground drilling.”
The company’s drill program aims to delineate mineralization beyond the existing mine workings, contributing data towards a Mineral Resource Estimate (MRE) that adheres to the National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). The results from the latest hole, SNUG-23-069, drilled at the 880-metre level, are notable for two reasons: it is located on the limb between the N2 and N3 fold noses, where no historical resources have been identified, and it represents the first nickel assay to exceed 4% nickel concentration.
The drilling project is part of a broader exploration effort to assess the extent of mineralization, particularly in areas not covered by historical resources. The project involves three drill rigs operating from the 810-metre level, targeting regions further down plunge and beyond the known mineral resources. This setup allows for a more comprehensive evaluation of the site’s potential.
Additionally, Borehole Electromagnetic (BHEM) surveys are being conducted to further understand the continuity of mineralization. To date, surveys have been completed in 25 drillholes, including nine drilled in 2024 from the 810-metre level. These surveys provide critical data on the down-plunge potential of the South Limb and other areas, guiding the planning of future drilling activities with larger step-out intervals.
As of March 25, 2024, the drilling campaign has accumulated 28,574 metres across 80 drillholes, with three currently underway. The company plans to continue releasing assay results as they become available and are verified. This comprehensive exploration effort not only underscores the potential for further discoveries at the SNUG mine but also reflects Premium Nickel Resources Ltd.’s commitment to thoroughly evaluating and responsibly developing its mineral assets.
Highlights from the project are as follows:
Table 1: Assay Results Selebi North Deposit
Hole-ID | From (m) |
To (m) |
*Length (m) |
Ni (%) |
Cu (%) |
Co (%) |
Limb | **NiEq (%) |
SNUG-23-069 | 264.75 | 270.60 | 5.85 | 1.17 | 0.70 | 0.06 | N2/N3 | 1.63 |
incl. | 264.75 | 267.00 | 2.25 | 1.52 | 1.64 | 0.09 | N2/N3 | 2.50 |
*incl. | 266.55 | 267.00 | 0.45 | 4.53 | 2.10 | 0.16 | N2/N3 | 5.86 |
SNUG-23-069 | 510.50 | 513.30 | 2.80 | 2.20 | 1.42 | 0.10 | N3 | 3.09 |
*Length refers to drillhole length and not true width. True widths of the South Limb are unknown.
**NiEq was calculated assuming a price of $US 7.86/lb for Ni, $US 4.00/lb for Cu and $US 12.95/lb for Co with no adjustments for recoveries and payabilities.
Table 2: Drill Collar Information Selebi North Deposit
HOLE ID | Mine East | Mine North | Elevation | Dip | Mine Azimuth |
Hole Length | Comment |
SNUG-23-069 | 35082.7 | 84843.1 | -8.9 | -42.8 | 235.2 | 545.1 | Rig #2 880mL |
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