en.Wedoany.com Reported - Canadian exploration company Power Metallic Mines Inc. (TSX Venture Exchange: PNPN, OTCBB: PNPNF, Frankfurt Stock Exchange: IVV1) announced on June 23, 2026, the latest assay results from its 2026 winter drilling program at the Lion Zone of the Nisk Project, located in Quebec, Canada. These data will be used to prepare an initial NI 43-101 Mineral Resource Estimate (MRE) for the Lion Zone and the Nisk deposit, expected to be completed by the end of July 2026, followed immediately by a Preliminary Economic Assessment (PEA).
Power Metallic Mines Inc. is a Canadian mineral exploration company, founded in 1987, focused on advancing the high-grade copper-platinum group elements (PGE)-nickel-gold-silver polymetallic system of the Nisk Project area (Nisk-Lion-Tiger), with the goal of developing it into Canada's next polymetallic mine. The Nisk Project is located in the Eeyou Istchee James Bay region of Quebec, approximately 55 kilometers east of the Cree Nation of Nemaska Community. The project is a high-grade nickel-copper sulfide deposit, with mineralization containing multiple battery metals including nickel, copper, cobalt, palladium, and platinum. On February 1, 2021, Power Metallic (then known as Chilean Metals) obtained an option from Critical Elements Lithium Corp. to earn up to an 80% interest in the Nisk Project.
The drilling results announced this time come from the MRE infill drilling program at the Lion Zone, aimed at defining the western boundary of the Lion Zone to improve confidence in the mineralization model, particularly for shallow areas potentially suitable for future open-pit mining. Among these, drill hole PML-26-115 intersected high-grade near-surface copper mineralization with a true thickness of 13.30 meters and a copper equivalent grade of 3.98% at a depth of 25 meters below surface; drill hole PML-26-105 intersected mineralization with a true thickness of 5.26 meters and a copper equivalent grade of 8.45% at a depth of approximately 140 meters below surface. The company expects to receive additional assay results from resource drilling and regional exploration in the coming weeks.
The Lion Zone is a key component of the Nisk Project, which is a nickel-copper sulfide deposit with mineralization containing multiple battery metals. Power Metallic is continuously expanding the mineralization footprint of the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the expanded claim area through an ongoing drilling program. The company plans to complete over 30,000 meters of exploration drilling over the next six months. The latest drilling results further confirm the continuity of high-grade near-surface mineralization in the Lion Zone, providing important data support for the upcoming Mineral Resource Estimate.
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