CHILEAN METALS INC. COMMENCES TRADING ON THE TSX VENTURE EXCHANGE
Power Metallic completes spin-out of non-core assets to double down on high-grade Nisk discovery
The most recent news (February 19, 2026) announces that Chilean Metals Inc. (CMCG) has commenced trading on the TSX Venture Exchange. This marks the successful completion of a corporate reorganization and spin-out strategy initiated by Power Metallic Mines Inc. (PNPN) in early 2025. Chilean Metals now holds the Golden Ivan property in British Columbia and a portfolio of five exploration projects in Chile. PNPN shareholders received 0.05 shares of CMCG for every 1 share of PNPN held. This news followed a significant drilling update from PNPN on February 18, 2026, reporting high-grade intercepts at the Lion Zone, including 20.40 meters of 4.11% CuEqRec and 8.60 meters of 6.84% CuEqRec.
The impact of the CMCG listing is material for the subsidiary and strategically positive for the parent, Power Metallic Mines. - Corporate Focus: By divesting the Chilean and British Columbian assets, PNPN is now a "pure play" on the Nisk Project in Quebec. This removes the distraction of early-stage exploration in different jurisdictions. - Balance Sheet Cleanup: PNPN has offloaded the maintenance and exploration liabilities of the Golden Ivan and Chilean properties. - Shareholder Value: PNPN shareholders now hold direct equity in a secondary vehicle (CMCG) which may be valued independently. - Flagship Momentum: The drill results released 24 hours prior (Feb 18) confirm that the "Lion Zone" at Nisk is maintaining continuity and high grades. The 98.9% copper recovery reported in January 2026, combined with these intercepts, suggests a highly efficient metallurgical profile for the project.
Power Metallic Mines (formerly Power Nickel) is focused on the Nisk Project in Nemaska, Quebec. The project is being developed with the goal of becoming Canada's first carbon-neutral polymetallic mine. - Flagship: The Nisk Project, specifically the Lion Zone. - Commodity Mix: Nickel, Copper, Platinum, Palladium, Gold, and Silver. - Discovery Status: The Lion Zone is a high-grade discovery characterized by massive sulphides with exceptionally high PGE values (e.g., intercepts of 65 g/t Palladium over narrow widths). - Metallurgy: SGS Canada recently reported copper recoveries of 98.9% and Platinum/Palladium recoveries exceeding 93% using conventional flotation.