Power Metallic Mines reports additional Lion drill results ahead of July resource estimate
Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) has reported additional assay results from its winter 2026 drilling program at the Lion Zone, including intercepts of 13.30 meters grading 3.98% copper equivalent in hole PML-26-115 and 5.26 meters grading 8.45% copper equivalent in hole PML-26-105.
The company said the results are among the final assays expected to be incorporated into an initial National Instrument 43-101 mineral resource estimate (MRE) for the Lion deposit, which is scheduled for completion by the end of July alongside an updated estimate for the Nisk deposit.
Power Metallic plans to begin a preliminary economic assessment immediately after the MRE is completed.
The latest drilling focused on infill holes along the western side of the Lion Zone to improve confidence in resource modeling, particularly in areas that could support a future open-pit operation.
Hole PML-26-115 intersected 13.30 meters grading 3.98% copper equivalent beginning about 25 meters below surface, including 3.77 meters grading 9.36% copper equivalent.
Hole PML-26-105 returned several mineralized intervals, highlighted by 5.26 meters grading 8.45% copper equivalent at a depth of approximately 140 meters below surface.
Other reported intersections included 7.00 meters grading 2.84% copper equivalent in hole PML-26-106, including 2.00 meters grading 8.87% copper equivalent, and 5.40 meters grading 0.86% copper equivalent in hole PML-26-114.
Power Metallic said several holes drilled along the western edge of the Lion Zone encountered the targeted mineralized structure but returned lower-grade assays, with individual samples containing up to 0.57% copper and 1.22 grams per tonne palladium. The company said the results could help guide future exploration by indicating proximity to higher-grade mineralization.
Additional assay results from the MRE drilling program and regional exploration activities are expected in the coming weeks.
