Power Metallic Mines (TSX-V:PNPN) has received additional assays from the Canadian winter 2026 campaign at the Lion Zone, with metallurgical testing confirming “strong recovery potential” from disseminated low-grade zones.
New drill results include 10.30m @ 4.04% copper-equivalent and 4.07m @ 8.73% copper-equivalent.
Infill drillholes 26-067 and 26-097 were drilled to increase the confidence in the mineralised zones that are within the range of a potential future open pit. These holes support the robust modelling of the near-surface mineralisation.
Power Metallic is expecting more assay results from the mineral resource estimate (MRE) drilling and regional exploration in the coming weeks.
The upcoming MRE will form the basis for a preliminary economic assessment, to begin immediately following the completion of the resource.
Power Metallic’s assets
The Lion Zone is part of the broader Nisk Project — a nickel-copper sulphide deposit with mineralisation for multiple battery metals including cobalt, palladium, and platinum.
Located in the Eeyou Istchee James Bay region of Québec, Canada, the Nisk Project comprises 90 claims covering an area of 4,589.11 hectares.
Beyond Nisk, Power Metallic indirectly has an interest in land packages in British Columbia and Chile via its 50% share ownership position in Chilean Metals, which was spun out from the company via a plan of arrangement in early 2025.
Power Metallic also owns the Jabul Baudan exploration licence in the Kingdom of Saudi Arabia. The property covers over 200km2 in an area recognised for its prospectivity for copper, gold, and zinc.
Earlier this month, the company entered into a strategic alliance and joint venture framework agreement with Amaar United Mining to pursue mining licence opportunities in Saudi Arabia.
The agreement includes an initial approved post-award work program funding framework of up to US$10 million ($14 million). Power Metallic will contribute US$2.5 million of the funding, while Amaar Mining will contribute the remaining US$7.5 million.
At Jabal Baudan, Power Metallic intends to advance the project through a staged exploration approach. Work will include compilation, reconnaissance, review of historical data, and advanced exploration targeting of high-priority zones.
Write to Aaliyah Rogan at Mining.com.au
Images: Power Metallic Mines
