Power Metallic Mines Inc. (TSX.V: PNPN) (OTCQB: PNPNF) (Frankfurt: IVV1) has reported final drill assay results from the winter program at the Lion Zone within its Nisk polymetallic project in Québec, highlighting high-grade near-surface copper mineralization that is expected to support the company’s initial NI 43-101 mineral resource estimate. The results, which included 36.42 meters grading 2.83% copper equivalent, including 6 meters grading 12.38% copper equivalent, represent infill drilling that increased confidence in the geological model ahead of resource modeling, according to reporting by Emily Jarvie of Proactive.
The company expects to complete and report initial mineral resource estimates for the Lion and Nisk deposits by the end of July, providing the foundation for a preliminary economic assessment. This milestone is critical for advancing the Nisk Project Area toward development. Separately, shareholders approved all resolutions at the company’s annual meeting, including an amendment intended to align governance requirements with a potential future U.S. national stock exchange listing, signaling a strategic move to broaden its investor base.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area—which includes the Nisk, Lion, and Tiger zones—toward becoming Canada’s next polymetallic mine. The project hosts a high-grade copper-PGE, nickel, gold, and silver system. On February 1, 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX-V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li-FT Power, the company now controls approximately 330 km² and roughly 50 km of prospective basin margins.
The company is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly holds an interest in significant land packages in British Columbia and Chile through its 50% share ownership in Chilean Metals Inc., which were spun out via a plan of arrangement on February 3, 2025. It also owns 100% of Power Metallic Arabia, which holds a 100% interest in the Jabul Baudan exploration license in Saudi Arabia’s Jabal Said Belt, covering over 200 square kilometers in a region known for its high prospectivity for copper, gold, and zinc mineralization.
The final Lion Zone assays are a key step toward de-risking the project and attracting potential partners or investors. The upcoming resource estimate will be a pivotal catalyst, providing a clearer picture of the project's economic viability. For more information, visit the company’s website at https://www.powermetallic.com/.
