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 include 36.42 meters grading 2.83% copper equivalent, which includes 6 meters grading 12.38% copper equivalent. The infill drilling has 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. This milestone will provide the foundation for a preliminary economic assessment, a critical step toward evaluating the project’s economic viability.
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 could broaden the company’s investor base and enhance liquidity.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area—including the Nisk, Lion, and Tiger zones—a high-grade copper-PGE, nickel, gold, and silver system, toward becoming Canada’s next polymetallic mine. On February 1, 2021, the company 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. The property spans over 200 square kilometers in a region recognized for high prospectivity for copper-gold and zinc mineralization, including world-class volcanic massive sulfide deposits.
The final Lion Zone assays are significant because they de-risk the resource estimation process and bring the Nisk project closer to a preliminary economic assessment. For investors, a positive resource estimate could validate the project’s potential and attract strategic partnerships or financing. The governance amendment also signals the company’s ambition to list on a U.S. exchange, potentially increasing visibility and access to capital.
