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 high-grade near-surface copper mineralization is expected to support the company’s initial NI 43-101 mineral resource estimate, which is targeted for completion by the end of July.
Highlights from the drilling include 36.42 meters grading 2.83% copper equivalent, including 6 meters grading 12.38% copper equivalent. The infill drilling has increased confidence in the geological model ahead of resource modeling, as reported by Emily Jarvie of Proactive. The company plans to complete and report initial mineral resource estimates for both the Lion and Nisk deposits by the end of July, providing the foundation for a preliminary economic assessment (PEA).
In addition to the exploration milestones, 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 the company’s ambition to broaden its investor base and access deeper capital markets.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area—which includes the Nisk, Lion, and Tiger zones—toward Canada’s next polymetallic mine. The project hosts high-grade copper, PGEs, nickel, gold, and silver mineralization. On February 1, 2021, the company (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. 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.
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. The company also indirectly holds interests in significant land packages in British Columbia and Chile through its 50% share ownership in Chilean Metals Inc., which was spun out via a plan of arrangement on February 3, 2025. Additionally, it owns 100% of Power Metallic Arabia, which holds a 100% interest in the Jabul Baudan exploration license in Saudi Arabia’s Jabal Said Belt, a region known for its high prospectivity for copper, gold, and zinc mineralization.
The final Lion Zone assays represent a critical step toward de-risking the Nisk project and advancing it toward development. With the resource estimate expected in July, the company is positioning itself to attract further investment and potentially list on a U.S. national exchange. For more information, visit the company’s website at https://www.powermetallic.com/.
