Terry Lynch, CEO of Power Metallic Mines (TSX.V: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV), joins me for another exploration update catching us up on multiple news releases from the Lion Zone as part of their fully funded 100,000-meter drill program at the polymetallic NISK Project in Quebec. We also discuss all the pending results still at the assay lab, other key regional exploration targets of interest for 2026 drilling, and the various technology being deployed behind their drill targeting.
Additional drill holes continued to add and refine the high-grade Lion Zone ahead of the 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release cover approximately 560 m down plunge extent from the core of the Lion Zone (PML-26-095) to central southwestern Lion area (PML-26-069) (Figure 1). These holes highlight both the robust near surface mineralization as well as returning the deepest high-grade intercept at Lion. These holes will be incorporated into future mineral resource estimates and highlight the potential for open pit development.
Drill hole PML-26-095 which intersected the interpreted core of the Lion Zone with wide intersections of high-grade copper near surface with 22.00 m @ 11.46% CuEqRec including 6.50 m @ 18.59% CuEqRec and including 4.00 m @18.62% CuEqRec
Drill hole PML-26-094 which intersected the interpreted core of the Lion Zone and adds further support to wide intersections of high-grade copper near surface with 17.45 m @ 9.47% CuEqRec1 including 6.30 m @ 17.91% CuEqRec.
Drill hole PML-26-101 tested the zone approximately 100 m east of PML-26-094 at a slightly deeper vertical depth and contained high grade over a very wide intersection with 39.00 m @ 5.66% CuEqRec1 including 9.20 m @ 15.18% CuEqRec1.
The exploration team will be back to drilling again in June with six-rig drill program focused on expanding the mineralized around the Lion Zone both stepping out looking for other broad mineralized zones, and also testing the depth testing the potential “Elephant Zone,” at the Tiger Deep Zone and at Lion West. Additionally, new polymetallic targets are being tested in fan holes at the Hydro Fold-Hinge Zone, which will utilize borehole EM technology. There will also be the utilization of Muon tomography interpreting cosmic rays through rock density to focus on broad mineralized potential in the 5km corridor and “Gap Area” between Lion and NISK Main.
There are still about 7,000 meters of core being processed at the lab, from 30 holes drilled, with a steady string of drill results coming back in over the next few months.
All the drilling data through April will be added to prior results into a new Mineral Resource Estimate update due out in July.
Then 30,000+ additional meters that will be drilled throughout 2026, starting up again in June
There will be initial economics around the project released in a PEA targeted by year-end in December.
If you have any questions for Terry regarding Power Metallic Mines, then please email them into me at
[email protected].
* In full disclosure, Shad is a shareholder of Power Metallic Mines at the time of this recording, and may choose to buy or sell shares at any time.
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