Power Metallic Mines Inc. (TSX.V: PNPN) (OTCQB: PNPNF) (Frankfurt: IVV1) 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 support the company's initial NI 43-101 mineral resource estimate. The results, as reported by Emily Jarvie of Proactive, included a highlight of 36.42 meters grading 2.83% copper equivalent, including 6 meters grading 12.38% copper equivalent. 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. 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. For more details, the full article can be accessed at https://ibn.fm/aAZ0J.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area—a high-grade copper-PGE, nickel, gold and silver system—toward Canada's next polymetallic mine. On 1 February 2021, Power Metallic 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 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 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. 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 kilometres in an area recognized for high prospectivity for copper, gold, and zinc mineralization. More information is available on the company's website at https://www.powermetallic.com/.
These developments are significant as they mark a key step toward defining a mineral resource, which is critical for advancing the Nisk project toward feasibility and eventual development. The high-grade intercepts near surface suggest potential for low-cost extraction, and the governance amendments indicate the company is positioning for a U.S. listing, which could broaden its investor base and increase liquidity.
