Drill Results
Power Metallic intercepts 17.45 Meters of 9.47% CuEqRec Superscript 1 in Hole 26-094 and 39 Meters of 5.66% CuEqRec Superscript 1 in Hole 26-101 at Lion
Power Metallic Infill Drilling Confirms Lion Zone Grade Continuity Ahead of Q3 Resource Estimate
Executive Summary
- The most recent release (May 4, 2026) reports high-grade drill intercepts from the winter 2026 program at the Lion Zone.
- Hole PML-26-094 intersected 17.45 meters grading 9.47% CuEqRec, including a high-grade interval of 6.30 meters @ 17.91% CuEqRec.
- Hole PML-26-101 intersected 39.00 meters grading 5.66% CuEqRec, including a high-grade interval of 9.20 meters @ 15.18% CuEqRec.
- The drilling program is infill in nature, designed to support the Mineral Resource Estimate (MRE) targeted for release in Q3 2026.
- Management states these holes would have broken into their top six results at the Lion Zone, indicating consistency with previous high-grade discoveries.
- Metallurgical recoveries remain a key focus, previously reported at 98.9% Copper recovery in January 2026.
Material Impact
- The news is consistent with the trajectory established in March and April 2026, where similar high-grade intercepts were announced (e.g., 15.11% CuEqRec in March).
- While positive, this does not constitute a "Game Changer" as it confirms existing knowledge rather than revealing a new discovery or major strategic shift like an acquisition or new investor entry.
- The market has historically reacted to the initial high-grade definitions (March) but has shown muted response to subsequent infill results, suggesting expectations are already priced in for the Q3 MRE.
- The confirmation of grade continuity is critical for upgrading resources from Inferred to Indicated, which supports open-pit potential and bankability, but this was anticipated by analysts following the January metallurgical success.
- Given the stock price decline from $1.63 (Jan 2026) to ~$1.17 (May 2026) despite continuous positive drilling news, the material impact on immediate valuation is likely limited unless the Q3 MRE significantly exceeds current expectations.
PNPN · Price
Company Overview
- Company: Power Metallic Mines Inc. (TSX.V: PNPN | OTC: PNPNF).
- Flagship Project: Nisk Nickel Sulfide Project in Quebec, Canada.
- Key Asset: Lion Zone, a high-grade polymetallic discovery containing Copper, Palladium, Platinum, Gold, Silver, and Nickel.
- Project Status: Exploration/Development phase; infill drilling ongoing to define resources for open-pit potential.
- Land Package: Expanded to approximately 313 km² through acquisitions including the Li-FT Power ground and Hydro Lands.
- Metallurgy: Preliminary test work shows exceptional recoveries (98.9% Cu, 96.8% Pt), supporting conventional sulphide flotation flowsheets.
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Jun 23, 2026 · 03:00