NIA’s Power Nickel Inc. (TSXV: PNPN) has been one of the largest gaining mineral exploration stocks in recent weeks, rising for 14 straight days and finishing last week at its highest weekly close in six years. PNPN has been making high grade polymetallic intercepts in Quebec, Canada, one of the world’s best mining jurisdictions, and has gained by 86.67% from NIA’s suggestion price of $0.225 per share to a closing price last week of $0.42 per share with a market cap of CAD$68.234 million.
NIA is excited to announce a new company that is also achieving high grade polymetallic intercepts in Quebec, Canada, but is trading at a lower market cap with a larger cash position and is backed by Frank Giustra, Greg Chamandy and the Deluce Family: Abitibi Metals Corp. (CSE: AMQ).
AMQ is currently $0.48 per share with 109.977 million shares outstanding for a market cap of only CAD$52.789 million and has CAD$18.5 million in cash.
AMQ recently completed a 13,500-meter Phase 1 maiden drill program at its B26 Polymetallic Deposit in Quebec, Canada. AMQ drilled a total of 44 diamond drill holes of which assays from 34 holes are currently pending. AMQ is fully funded with CAD$18.5 million in cash to complete an additional 16,500 meters of drilling in 2024 plus an additional 20,000 meters of drilling in 2025, for a total 2024-2025 drill program of 50,000 meters. The B26 Deposit has a historical resource of 11.4 million tonnes at just under 3% copper equivalent which is open for expansion.
AMQ’s recently released results of the first 10 drill holes show some of the highest-grade copper intercepts in project history including:
11.4% copper equivalent over 10.6m at a depth of 135m in drill hole 1274-24-293
6.3% copper equivalent over 10.6m at a depth of 120m in drill hole 1274-24-294
5.35% copper equivalent over 8.1m at a depth of 251.5m in drill hole 1274-24-300
1.47% copper equivalent over 97.5m at a depth of 30.5m including 3.9% copper equivalent over 21.9m in drill hole 1274-24-301
Starting in the coming days we expect AMQ to begin announcing assay results for the 34 pending holes that were drilled in Phase 1. AMQ plans to launch Phase 2 drilling in early June when the winter thaw is over.
The current surge in artificial intelligence (AI) development, particularly in the utilization of Graphics Processing Units (GPUs) for Large Language Models (LLMs), is catalyzing a notable increase in electricity consumption. This escalation in demand presents considerable challenges to the stability of North America's electricity grid, thereby underscoring the pressing necessity for substantial infrastructure enhancements in the foreseeable future. It is evident that copper will assume a pivotal role in facilitating North America's adoption of AI technologies.
The imperative task of upgrading the grid to accommodate the burgeoning requirements of AI technologies is paramount for ensuring operational reliability and satisfying forthcoming energy needs. Copper is poised to emerge as an essential element in this transition, exerting influence not only within North America but on a global scale.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from PNPN of US$50,000 cash for a six-month marketing contract. NIA has received compensation from LFG Equities Corp. of US$30,000 cash for a three-month AMQ marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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