Power Metallic Intercepts 4.40 Meters of 12.18% Cu (14.34% CuEqRec) included within 20.40 Meters of 2.91% Cu (3.58% CuEqRec) in Hole 25-029b at Lion, and Completes the Extension of PN-24-064 to define large off-hole BHEM anomaly
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The news release from December 2, 2025, announces new drill results from Power Metallic's Nisk Project. At the Lion Zone, hole PML-25-029b intersected a high-grade interval of 4.40 meters grading 12.18% Copper (Cu) and 14.34% Copper Equivalent (CuEq), within a broader mineralized zone of 20.40 meters grading 2.91% Cu (3.58% CuEq). Other significant intercepts from the Lion Zone include 19.80 meters of 1.50% CuEq in hole PML-25-025a and 8.10 meters of 4.38% CuEq in hole PML-25-031.
The company also reported it has completed the extension of a previous hole, PN-24-064, which successfully defined a large off-hole Borehole Electromagnetics (BHEM) anomaly. The CEO, Terry Lynch, noted this anomaly is located in an interpreted fold hinge and will be targeted by heavier land rigs in 2026. He also stated that drilling on the "Tiger Deep" anomaly and the "Hydro Lands" would commence before the Christmas break. The company confirms it is well-funded for its 2025-2026 work programs and is advancing its application to list on the NYSE.
This news is materially positive, reinforcing the high-grade discovery thesis at the Lion Zone and introducing a significant new exploration target.
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Confirmation of High-Grade Mineralization: The intercept in hole 25-029b (4.4m of 12.18% Cu) is among the best drilled on the property to date and is directly comparable to other top-tier results announced throughout 2025 (e.g., 5.35m of 11.97% Cu on Nov 4; 10.25m of 6.26% CuEq on Jan 21). This demonstrates excellent continuity of the high-grade core of the Lion Zone. The wider 20.40-meter intercept adds valuable bulk-tonnage potential to the zone.
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New Large-Scale Target: The most significant development is the definition of a large off-hole BHEM anomaly from the extension of hole PN-24-064. BHEM has been the company's primary discovery tool. A large, deep anomaly in a favourable geological structure (fold hinge) represents a potential "breakthrough" target, as noted by the CEO, that could dramatically increase the scale of the mineralized system. This adds a new, compelling exploration angle beyond simply extending the known Lion Zone.
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Financial and Strategic Context: The news comes shortly after the filing of Q3 financials, which showed a strong cash position of approximately $31.3 million as of September 30, 2025. This funding, secured through a ~$50 million financing in February 2025, de-risks the ambitious exploration plans for the next year, including testing the new deep anomaly. The CEO's reiteration of the NYSE listing plan adds a potential near-term catalyst for increased market visibility.
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Expectations: The market has come to expect strong results from the Lion Zone. This release delivers on that expectation while adding a significant new target that was not previously defined. The results from the Nisk East target were weak, but this is a secondary area of focus and does not detract from the success at Lion. The CEO’s admission that a "second Lion or Nisk-style zone" has not yet been defined is a frank and realistic assessment of the challenges of exploration, but the new deep target provides a clear path toward such a discovery.
Power Metallic Mines Inc. is a Canadian junior exploration company focused on its flagship Nisk Project in the Eeyou Istchee James Bay region of Quebec. The project is a polymetallic discovery containing copper, nickel, platinum group elements (PGEs), gold, and silver. While the project initially focused on the Nisk nickel deposit, the 2024 discovery of the "Lion Zone" has become the primary focus. The Lion Zone is a high-grade copper-PGE dominant discovery. The company has aggressively consolidated the surrounding land package in 2025 to control what it believes is a district-scale opportunity.