Ellis Martin Report: Metallic Mines Inc.'s (PNPNF) Terry Lynch on the Lion Zone Discovery - High-Grade Copper Results Could Change the Game
High-Grade Copper Discovery at Lion Zone Validated by Exceptional Metallurgical Recoveries
The most recent news (March 10–16, 2026) reports extraordinary drill results from the Lion Zone at the Nisk Project in Quebec. Key highlights include Hole 25-049, which intercepted 16.55 meters grading 15.11% Copper Equivalent (CuEqRec). This follows a series of high-grade results (e.g., 20.4m of 4.11% CuEqRec in Feb 2026). Crucially, the company released independent metallurgical results from SGS Canada showing "shock-and-aw" recoveries: 98.9% for copper, 96.8% for platinum, and 93.9% for palladium. CEO Terry Lynch suggests the project is transitioning from an exploration play to a "mine-ready" asset, with plans for a Preliminary Economic Assessment (PEA) and a potential U.S. exchange listing.
- Resource Quality: The 15.11% CuEqRec intercept is globally significant for a polymetallic discovery. The consistency of high-grade hits (Holes 25-049, 25-043, 25-046) suggests a robust high-grade core that could support early-stage open-pit mining.
- Metallurgical De-risking: The 98.9% copper recovery is a major de-risking event. High recoveries for PGMs (Platinum/Palladium) significantly enhance the potential net smelter return (NSR) and overall project economics.
- District Scale Potential: The identification of four easterly trending structures and the "Lion-style" mineralization found at Nisk East and Tiger Zone suggests the system is much larger than the initial discovery.
- Financial Position: As of Sept 30, 2025, the company held $31.2M in cash. While exploration burn is high ($14.2M in Q3 2025), the company appears well-funded for the 2026 program.
- Market Perception: The company is aggressively using IR firms (Native Ads, Sideways Frequency) to drive awareness, which has coincided with OTC Markets' requests for clarification on promotional activity.
Power Metallic Mines (formerly Power Nickel) is focused on the Nisk Project in Nemaska, Quebec. The project is a polymetallic discovery (Ni-Cu-PGE-Au-Ag). The flagship Lion Zone is characterized by high-grade copper and PGM mineralization. The company also holds a large land package (313 km²) and an exploration license in Saudi Arabia.