Power Metallic reports strong copper hits at Lion zone as it advances Nisk resource estimate
Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) has released assay results from its winter 2026 drilling campaign, highlighting continued mineralization at its Lion zone at its Nisk polymetallic project in Quebec and progress toward a planned mineral resource estimate (MRE).
The company reported that drill hole PML-26-050 intersected 27.1 metres grading 2.17% copper equivalent (CuEq), including a higher-grade interval of 4.76 metres at 10.43% CuEq.
According to the company, the intercept helps confirm the eastern extent of a high-grade copper zone identified in earlier drilling.
Additional infill drilling aimed at supporting a 2026 MRE focused on defining the geometry of the Lion zone, particularly along its eastern side.
Results from hole PML-26-052 included 10.35 metres at 2.88% CuEq, with a higher-grade section of 4.35 metres at 5.94% CuEq. Hole PML-26-051 returned 10.6 metres at 1.62% CuEq, while hole PML-26-053 intersected 21.25 metres at 2.13% CuEq.
The company said these results are consistent with its existing geological model, which is based on earlier, more widely spaced drilling. The ongoing program is intended to upgrade the classification of the deposit to an indicated resource category.
Drilling has also targeted near-surface portions of the Lion zone that could be suitable for potential open-pit mining, with the company noting continued intersections of copper sulphide mineralization in these areas.
Exploration drilling outside the main zone produced mixed results. Several holes aimed at defining the eastern boundary of the Lion zone encountered low-grade mineralization, helping to delineate its limits. Other holes drilled west of the zone did not intersect significant mineralization.
Terry Lynch, Power Metallic CEO, said drilling at Lion continues to deliver “as or better than expected.”
“The shallow hole success, which we expect assays to confirm what we are seeing in the cores, should be very supportive to the starter open pit,” Lynch said. “This all will support the upcoming MRE and preliminary economic assessment.”
At the Elephant target, an extended drill hole intersected 6 metres grading 0.78 grams per tonne gold, including 1.5 metres at 2.56 grams per tonne. While described as low grade, the company said the result indicates a broader gold-bearing structure that may warrant further investigation.
Additional fieldwork, including mapping and geophysical reinterpretation, is planned to refine exploration targets and guide future drilling.
“On the exploration side, the drill bit continues to give us clues and points us to more structures to test. We have 37 holes in for assay and we’re drilling our last few holes of the winter campaign,” Lynch said. “The team remains very bullish on our discovery process.”
