Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
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

By The Northwire Desk — AI Analysis May 04, 2026 · 02:30 PNPN · 1.17 Power Metallic Mines Inc.
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.
Read the original news release →

More from Power Metallic Mines Inc.

Oct 05, 2026 · 03:00

Power Metallic’s Nisk PEA highlights high-grade Lion zone results, advancing the deposit toward a bankable feasibility study.

Technical Study Sep 22, 2026 · 03:00

Power Metallic confirmed a 25% deeper intercept at 14% CuEq, highlighting grade rather than tonnage in its latest drilling results.

Drill Results Sep 08, 2026 · 03:00

Power Metallic’s maiden Lion MRE defines 4.75Mt at high CuEq grades, though deep drilling is required to prove the deposit’s full scale.

Resource Estimate Jul 30, 2026 · 03:00

Power Metallic delays its mineral resource estimate to late August while five rigs continue drilling at its project.

Production / Operations Jul 15, 2026 · 03:00

Power Metallic’s final Lion Zone infill assays confirm grade continuity ahead of the maiden MRE, including 36m at 2.83% CuEqRec.

Drill Results Jun 23, 2026 · 03:00

Power Metallic reports New Lion drill intercepts of 13.30 Meters of 3.98% CuEqRec Superscript 1 in Hole 26-115 and 5.26 Meters of 8.45% CuEqRec Superscript 1 in Hole 26-105 at Lion

Drill Results