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, with high-grade near-surface copper mineralization expected to underpin the company's initial NI 43-101 mineral resource estimate. According to reporting by Emily Jarvie of Proactive, highlights included 36.42 meters grading 2.83% copper equivalent, including 6 meters grading 12.38% copper equivalent, as infill drilling increased confidence in the geological model ahead of resource modeling.
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, which is a high-grade copper–PGE, nickel, gold and silver system located in Quebec. The Lion Zone assays represent the culmination of the winter drilling program and are expected to positively influence the resource model.
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. This move signals Power Metallic's ambition to broaden its investor base and access deeper capital markets, which could enhance liquidity and visibility for the company.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger) toward Canada's next polymetallic mine. On 1 February 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 ~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 has an interest in significant land packages in British Columbia and Chile through its 50% share ownership position 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 the Kingdom of Saudi Arabia's Jabal Said Belt, a region known for massive volcanic sulfide deposits.
For more information, visit the company's website at https://www.powermetallic.com/.
