Drilling at Power Metallic’s (TSX-V:PNPN) Nisk Project in Québec, Canada has defined mineralisation extending down-plunge of the ‘high-grade’ shoots that are internal to the Lion Zone for future mineral resource estimate modelling.
The Canadian summer drilling program was designed to search for such extensions and to infill drill on the Lion deposit to define the zone geometry to a confidence level that would allow a future MRE to be carried out to an indicated resource classification.
CEO Terry Lynch says these are examples of another good round of results showing very solid increases in the known mineralised area in the Lion Zone.
“At the moment even as we continue to test the extension of Lion and grow its mineralised area we have three strategic target areas supported by geology and borehole EM that look promising to deliver our next big breakthrough,” Lynch says.
“Hole 64 which we talk about below and the very promising large off hole anomaly that sits in our interpreted fold hinge will be targeted by a series of holes as soon as drilling commences in 2026.
“This delay is to enable the heavier land rigs to be mobilised for this deep drill target. Tiger Deep the anomaly we discussed in our last release is being targeted prior to the Christmas break as are initial holes on the Hydro Lands.
“Our integrated geophysical and geochemical toolkit has delivered for us in the past, and our exploration team has never been more optimistic than it is today.”
Power Metallic is well funded for the 2025-2026 work programs and has announced a plan to list on the NYSE to access deeper US capital markets.
As the company moves into the upcoming winter and summer 2026 drill campaigns across the district, it seeks to systematically pursue the highest–priority targets, and while it has not yet defined a second Lion or Nisk-style zone, Lynch says the company “believes this is one of the most target–rich exploration opportunities over the next 12 months”.
Drilling intersected mineralisation below the central ‘high-grade’ zone of Lion, including sulphide intersections of 4.40m @ 14.34% CuEqRec in hole PML-25-029b included within 20.40m of 3.58% CuEqRec), and 1.59m @ 27.92% CuEqRec in hole PML-25-025, included in 19.8m of 2.71% CuEqRec.
Extensional intersection on the west side of Lion included 2.65m @ 17.79% CuEqRec in hole PML-25-31 included within 8.10m of 7.13% CuEqRec. The company notes these holes have largely confirmed the grade of the Lion zone as well as increasing the size of the interpreted high grade lodes.
The copper equivalent rec calculation (CuEqRec) represents CuEq calculated based on the following metal prices US$2,360.15 per ounce of gold, US$27.98/oz silver, US$1,215.00/oz Pd, US$1,000/oz Pt, US$4/lb Cu, US$10/lb Ni, and US$22.50/lb Co, and a recovery grade of 80% for all commodities, consistent with comparable peers.
Last month, the company gained insight into the Lion Zone target, within the Nisk Project, which will guide the Canadian fall and winter drilling program.
Write to Adam Orlando at Mining.com.au
Images: Power Metallic
