Power Metallic Mines reports strong infill drilling results at Lion Zone, including second-best intersection to date
Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) has reported additional assay results from its winter 2026 drilling program, including what it described as its second-best intersection to date at the Lion Zone, as the company advances toward an updated mineral resource estimate (MRE).
The company said infill drilling continues to define and expand the high-grade Lion Zone of its Nisk polymetallic project in Quebec, with results covering approximately 560 metres along the down-plunge extent of the system.
Drill hole PML-26-095 intersected 22 metres grading 11.46% copper equivalent (CuEq), including higher-grade intervals of 6.5 metres at 18.59% CuEq and 4 metres at 18.62% CuEq. The intercept is located near surface within the interpreted core of the Lion Zone and supports the company’s geological model.
Another hole, PML-26-069, tested mineralization approximately 560 metres south-southwest of PML-26-095 at a vertical depth of about 600 metres. It returned 6.58 metres grading 4% CuEq, including 2.82 metres at 8.26% CuEq.
According to Power Metallic, the results demonstrate both near-surface continuity and deeper extensions of high-grade mineralization, which could support future open-pit development scenarios.
The company noted that the reported intervals represent downhole lengths, with true widths estimated at roughly 85% based on current modelling.
“The Lion Zone continues to deliver high-grade intersections that are more than an order of magnitude beyond the grade of the average producing copper mine,” Power Metallic CEO Terry Lynch said.
“Results demonstrate that both grade and thickness are being maintained and, in places, increasing as we advance toward our inaugural Mineral Resource Estimate in the third quarter of 2026.”
In addition to the Lion Zone results, the company reported on exploratory drilling east of its Tiger target, where holes tested geophysical anomalies identified in a 2025 airborne survey.
These holes encountered anomalous but sub-economic mineralization, including minor copper and platinum values, as well as low-grade polymetallic mineralization over broader intervals.
Power Metallic said additional assay results from ongoing MRE drilling and regional exploration are expected in the coming weeks.
Shares of Power Metallic gained 7.8% in early trading on Wednesday morning in Toronto.
