Northwire Canada EditionSaturday, November 7, 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 drills 22 m of 11.46% CuEqRec at Nisk

Power Metallic Drills High-Grade Lion Zone Ahead of Q3 MRE; Grade Continuity Confirmed

By The Northwire Desk — AI Analysis May 06, 2026 · 10:22 PNPN · 1.29 Power Metallic Mines Inc.
Executive Summary
  • Latest Release (May 6, 2026): Power Metallic Mines Inc. reported drilling results from its Winter 2026 infill program at the Nisk Project's Lion Zone.
  • Key Intercept: Hole PML-26-095 intersected 22.00 metres at 11.46% CuEqRec, including a high-grade interval of 6.50 metres at 18.59% CuEqRec and a 4.00 metre interval at 18.62% CuEqRec.
  • Secondary Intercept: Hole PML-26-069 intersected 6.58 metres at 4.00% CuEqRec at a vertical depth of 600m, including a high-grade sub-interval of 2.82 metres at 8.26% CuEqRec.
  • Program Context: The drilling is infill work designed to refine the Lion zone ahead of an inaugural Mineral Resource Estimate (MRE) scheduled for Q3 2026.
  • Management Commentary: CEO Terry Lynch stated results demonstrate grade and thickness are being maintained or increasing as they advance toward the MRE, with Hole PML-26-095 representing the second-best intersection to date.
  • Historical Progression: This follows a series of high-grade announcements from March 2026 (15% CuEqRec) and April 2026 (9.47% CuEqRec), maintaining a consistent narrative of high-grade polymetallic mineralization.
Material Impact
  • Expectation vs. Reality: The results are in line with previous expectations for the infill program. While the grade is exceptional, it does not exceed the peak grades reported in March 2026 (15% CuEqRec), making this a confirmation rather than an upgrade of the discovery's potential.
  • Market Moving Potential: The news reinforces confidence in the upcoming Q3 MRE but does not introduce new strategic variables such as financing, acquisition, or resource definition itself. Therefore, it is categorized as Routine - Positive rather than Material - Game Changer.
  • De-risking Factor: The continuity of high-grade intercepts at depth (600m) supports the open-pit development thesis mentioned in previous releases, reducing technical risk for the MRE.
  • Valuation Context: With a market cap of C$353 million and significant cash on hand (C$31M per presentation), the company is well-positioned to fund further drilling without immediate dilution, though future financing may be required post-MRE/PEA.
PNPN · Price
Company Overview
  • Company: Power Metallic Mines Inc. (TSX.V: PNPN | OTC: PNPNF).
  • Flagship Project: Nisk Nickel Sulfide Project, Quebec, Canada.
  • Key Asset: Lion Zone discovery, characterized by high-grade copper and PGMs (Palladium, Platinum), Gold, Silver, and Nickel.
  • Project Status: Exploration/Development phase; infill drilling ongoing ahead of MRE.
  • Land Package: Expanded to approximately 313 km² following acquisitions from Li-FT Power Ltd. in mid-2025.
  • Metallurgy: Preliminary test results show 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