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

Ellis Martin Report: Power Metallic (PNPNF) - 10%+ CuEq Hits, Lion Zone Expands, MRE Coming

Power Metallic Infill Drilling Validates Lion Zone Grade Ahead of Summer MRE

By The Northwire Desk — AI Analysis Apr 20, 2026 · 06:00 PNPN · 1.17 Power Metallic Mines Inc.
Executive Summary
  • Most Recent Update (April 20, 2026): Ellis Martin Report summarizes recent drilling results and strategic positioning. Highlights 10%+ CuEq hits and expansion of the Lion Zone discovery. Confirms Maiden Mineral Resource Estimate (MRE) expected Summer 2026 and Preliminary Economic Assessment (PEA) targeted for Q4 2026.
  • Core Operational Data (April 15, 2026): Drill results from Winter 2026 campaign at Lion Zone. Hole PML-26-050 returned 27.10m @ 2.17% CuEqRec including 4.76m @ 10.43% CuEqRec.
  • Metallurgical Context: Previously reported recoveries of 95-99% (Jan 2026) remain a key value driver, supporting the economic potential of the high-grade intercepts.
  • Exploration Scope: Infill drilling continues to define the eastern side of the Lion Zone for resource modeling. Peripheral targets (Elephant, Tiger Deep) are being evaluated but focus remains on Lion MRE preparation.
  • Management Sentiment: CEO Terry Lynch maintains a bullish stance, citing "shallow hole success" supportive of starter open-pit potential and confidence in the discovery process.
Material Impact
  • Consistency with Expectations: The drilling results are consistent with previous high-grade announcements (March 2026 reported 15% CuEqRec). While slightly lower on average than March, the continuity confirms the resource model rather than introducing a new variable.
  • De-risking Milestone: The news serves as critical de-risking for the upcoming Summer 2026 MRE. It validates that the high-grade core is continuous and not isolated intercepts, which reduces geological risk for investors waiting on the resource estimate.
  • Market Reaction Context: Stock price has been volatile (dropping from $1.63 in Jan to ~$1.04 in Mar/April). This news provides a floor but does not immediately trigger a breakout as it was largely anticipated given the infill program timeline announced months ago.
  • Catalyst Timing: The material impact is deferred until the MRE release (Summer 2026) and PEA (Q4 2026). Current news supports the thesis but does not deliver economic value yet.
PNPN · Price
Company Overview
  • Company Name: Power Metallic Mines Inc. (TSX.V: PNPN | OTC: PNPNF).
  • Flagship Project: Nisk Nickel Sulfide Project, Quebec, Canada.
  • Key Asset: Lion Zone discovery within the Nisk property.
  • Mineralization: Polymetallic sulfides (Nickel, Copper, Palladium, Platinum, Gold, Silver).
  • Land Package: Expanded to ~313 km² total control (including Hydro Lands and Li-FT acquisition), providing significant strike length for district-scale exploration.
  • Status: Exploration/Development stage; no production yet.
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