Power Metallic Intercepts 16.55 Meters of 15.11% CuEqRec Superscript 1 in Hole 25-049, and 7.60 Meters of 7.20% CuEqRec Superscript 1 in Hole 25-043 at Lion
High-Grade "Lion" Discovery Roars with 15% Copper Equivalent as Power Metallic Eyes PEA and NYSE Listing
The most recent news (March 10, 2026) reports exceptionally high-grade drilling results from the Lion Zone at the Nisk Project. Key intercepts include Hole 25-049 with 16.55 meters of 15.11% CuEqRec and Hole 25-043 with 7.60 meters of 7.20% CuEqRec. These results are intended to support a near-term Preliminary Economic Assessment (PEA). Additionally, the company is investigating a deeper Ni-Cu deposit type below the current Lion-style mineralization.
The impact is Material - Positive. - Grade Superiority: Intercepting >15% CuEq over 16 meters is globally significant and significantly higher than the company's previous high-grade hits (which averaged 4-8% CuEq). - De-risking Metallurgy: Recent results from SGS Canada (Jan 2026) confirmed "shock-and-aw" recoveries: 98.9% Copper and 96.8% Platinum. This transforms the project from an exploration "story" into a viable metallurgical candidate. - Scale Potential: The identification of a "shallow easterly plunge" and the "Lion West/East" extensions suggests the deposit is not an isolated pod but part of a larger system. - Strategic Shift: The move toward a PEA and the planned NYSE listing indicates a transition from pure exploration to development-stage, which typically triggers a valuation re-rating.
Power Metallic Mines (formerly Power Nickel) is focused on the Nisk Project in James Bay, Quebec. The project is a high-grade Ni-Cu-PGE-Au-Ag discovery. The flagship Lion Zone is characterized by massive to brecciated sulphides. The company also holds a 200 sq km exploration license in Saudi Arabia (Jabal Baudan) and recently spun out its Chilean assets into Chilean Metals Inc. (CMCG).