Power Metallic Mines extends high-grade mineralization at Nisk, outlines 2026 drill targets
Power Metallic Mines Inc (TSX-V:PNPN, OTCQB:PNPNF) announced that its summer drilling program at the Nisk project has successfully extended high-grade mineralization in the Lion Zone and identified new priority targets for 2026.
The program focused on down-plunge extensions and infill drilling to better define the geometry of the Lion deposit for future mineral resource modeling, the company said on Tuesday.
Drilling intersected high-grade sulphide zones, including 4.4 meters at 14.34% copper equivalent recovery (CuEqRec) within 20.4 meters at 3.58% CuEqRec in hole PML-25-029b.
Hole PML-25-025 returned 1.59 meters at 27.92% CuEqRec within 19.8 meters at 2.71% CuEqRec, and Hole PML-25-031 intersected 2.65 meters at 17.79% CuEqRec within 8.1 meters at 7.13% CuEqRec.
The results confirmed the grade of the Lion Zone and expanded the interpreted size of high-grade lodes, according to Power Metallic.
At Nisk East, holes PMN-25-005 through PMN-25-011 returned modest intersections of nickel-copper-palladium mineralization. Hole PMN-25-005 returned 4 meters at 2.34% CuEqRec.
CuEqRec calculations were based on metal prices, including gold at $2,360.15 per ounce, silver at $27.98 per ounce, palladium at $1,215 per ounce, platinum at $1,000 per ounce, copper at $4 per pound, nickel at $10 per pound, and cobalt at $22.50 per pound, with an 80% recovery.
Power Metallic CEO Terry Lynch said the results show solid increases in the known mineralized area in the Lion Zone.
“At the moment, even as we continue to test the extension of Lion and grow its mineralized area, we have three strategic target areas supported by geology and borehole EM that look promising to deliver our next big breakthrough,” Lynch said.
Drilling is now focused on the Hydro Lands, interpreted as a folded extension of the Nisk-Lion system, with permits granted for the area.
Power Metallic also noted that it is advancing the Deep Tiger target, a reinterpretation of previous Tiger drilling. The target indicates massive sulphides carried in tonalitic intrusions from a deeper source. Off-hole BHEM surveys suggest a large conductor east of previously drilled holes.
Hole PN-24-064, drilled in 2024 and extended to 1,347 meters, revealed the largest off-hole conductor on the project. The anomaly aligns with the Li-FT and Hydro Lands acquisitions and is a priority target for future copper-nickel mineralization.
Power Metallic said it is assessing logistical options for drilling into this anomaly, including extensions from hole PML-25-021 at approximately 700 meters depth.
The company plans to continue drilling in 2026 across high-priority targets. Power Metallic highlighted that it is well-funded for its 2025 to 2026 programs and is pursuing a listing on the NYSE to access US capital markets.
“As we move into the upcoming winter and summer 2026 drill campaigns across the district, we’ve asked the team to systematically pursue the highest–priority targets, and while we haven’t yet defined a second Lion or Nisk–style zone, we believe this is one of the most target–richexploration opportunities over the next 12 months,” Lynch said.
