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. The results include high-grade near-surface copper mineralization that is expected to support the company's initial NI 43-101 mineral resource estimate. Highlights from the assays included 36.42 meters grading 2.83% copper equivalent, including 6 meters grading 12.38% copper equivalent. Infill drilling has increased confidence in the geological model ahead of resource modeling, according to reporting by Proactive.
The company expects to complete and report initial mineral resource estimates for the Lion and Nisk deposits by the end of July. These estimates will provide the foundation for a preliminary economic assessment. Additionally, 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.
The Nisk project is a high-grade copper-PGE, nickel, gold, and silver system that Power Metallic is advancing toward Canada’s next polymetallic mine. The company controls approximately 330 km² and roughly 50 km of prospective basin margins following the June 2025 purchase of 313 adjoining claims from Li-FT Power. Power Metallic 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 in Chilean Metals Inc. The company 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. This property spans over 200 square kilometers in an area recognized for its high prospectivity for copper, gold, and zinc mineralization.
