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. 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, 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. 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.
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. 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 (~167 km²) from Li–FT Power, the company now controls ~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.
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 from Power Metallic 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. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper, gold and zinc mineralization. The region is known for its massive volcanic sulfide deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit. For more information, please visit the company’s website at https://www.powermetallic.com/.
The full article can be viewed at https://ibn.fm/aAZ0J. MiningNewsWire is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 75+ brands within the Dynamic Brand Portfolio @ IBN that delivers access to a vast network of wire solutions via InvestorWire, article and editorial syndication to 5,000+ outlets, enhanced press release enhancement, social media distribution via IBN to millions of social media followers, and a full array of tailored corporate communications solutions. For more information, please visit https://www.MiningNewsWire.com.
