AveragePenny
15 hours ago
$PNPNF $PNPN Power Metallic Expands the Lion Zone with Deepest Assayed Intersection to Date and Delivers Initial Ni/Cu Assays from the Tiger Zone
TORONTO, March 25, 2025 /PRNewswire/ - Power Metallic Mines Inc. (the "Company" or "Power Metallic") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of 6 holes from the fall 2024 drilling campaign. Four holes were testing multiple target areas in the Lion zone (holes PN-24-086, 087, 092, 093), and two holes tested the Tiger target (PN-24-090 and 094).
Lion Zone (Figure 1)
Hole PN-24-092 and PN-024-093 tested the eastern edge of the interpreted plunge of the Lion zone, with PN-24-093 providing the deepest assayed intersection to date. Both holes confirmed the location of the eastern plunge extent of the Lion Zone (Figure 2, Table 1). Power Nickel previously released photos of mineralized core from hole PN-25-096 (news release February 5, 2025) located in the interpreted core of the Lion Zone and we are still awaiting assays for that hole (Table 1). Subsequent drilling below PN-25-096 has also returned significant visible mineralization including massive Cu/Ni zones in holes PML-25-001 and PML-25-002 (Figure 2) which are also pending assays to confirm grades.
Drill holes PN-24-086 and PN-24-087 were designed to fill in gaps in the Lion model to confirm the near surface eastern strike extension of the interpreted deposit. Both holes intersected the zone and returned high PGE values, including 1.55m @Traderdan-086 (Table 1, Figure 2).
Borehole EM (BHEM) has become the primary tool for discovery of more mineralization. Interpretation of BHEM results and improved interpretations of ground and airborne EM and magnetic surveys has been conducted by Hardrock Geophysics Inc., a group experienced in conducting geophysical surveys on polymetallic deposits. Identified BHEM conductors have to date consistently indicated sulphides in follow-up drilling. Previously identified conductors west of Lion (PN-24-082 to 085, see NR March 17, 2024) are currently being tested with drilling and have the potential of identifying a parallel sulphide zone to the west of Lion.
Tiger Zone (Figure 1)
Hole PN-24-90 and PN-24-94 were drilled to test a weak airborne EM anomaly 700 meters northeast of Lion (Tiger Zone). Hole PN-24-090 appeared to miss the source of the airborne anomaly but returned multiple narrow zones of Cu, PGE, Au, Ag, +/-Ni (Table 2) confirming the presence of a mineralized structure.
A follow-up borehole EM survey (BHEM) completed in hole PN-24-090 confirmed an off-hole conductor which was drilled with hole PN-24-094 and intersected narrow zones of massive Ni/Cu sulphides (Table 2). Subsequent drill holes based on BHEM on the Tiger target (PN-25-098, 099 and 101) all intersected additional narrow Ni/Cu massive sulphides (assaying pending).
The Tiger zone is interpreted to be mobilized sulphides originating from a proximal ultramafic source rock and emplaced in the footwall paragneiss. To date drilling is still too sparse to model Tiger, but cross-section interpretation indicates that PN-24-090 was stopped just short of intersecting the higher grade Ni/Cu zones that were intersected in hole PN-24-094. BHEM conductors interpreted from hole PN-24-090 correctly vectored hole PN-24-094 to the source of the anomaly.
Subsequent BHEM on the later holes at Tiger have indicated further off-hole conductors that need to be tested. It is not known for certain what causes these off-hole conductors, but to date all previous drill testing of BHEM conductors has resulted in sulphide intersections, so it is reasonable to expect that sulphide concentrations are causing these untested anomalies.
Copper Equivalent Rec Calculation
CuEq Rec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and a recovery grade of 80% for all commodities, consistent with comparable peers.
Qualified Person
Joseph Campbell, P.Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
AveragePenny
1 week ago
Power Metallic to Increase From 3 to 6 Drill Rigs at the Nisk Project
https://www.prnewswire.com/news-releases/power-metallic-to-increase-from-3-to-6-drill-rigs-at-the-nisk-project-302402777.html
TORONTO, March 17, 2025 /PRNewswire/ - Power Metallic Inc. (the "Company" or "Power Metallic") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to provide an update on the current exploration activity (Q1 2025), and the planned scaling up of exploration programs beginning in Q2 of 2025.
### THE BIG PICTURE
With the recent equity raise, the Company's exploration budget through the end of 2026 is more than C$40 million based on flow-through proceeds raised. With this expenditure, the Company is targeting approximately 100,000 metres of drilling and other exploration programs over the next 21 months. The drilling will include extending the zones in the Lion and Tiger polymetallic areas (Figures 1 to 5), expansion of the Nisk deposit (Figures 1 & 6), and exploring the untested 5.5 km of strike between these areas (Figure 1).
There are currently three drill rigs, with increased drill capacity limited by current core logging and sampling facilities at the site. To accelerate the exploration program, the Company is in the midst of planning a complete revamp of the core logging facility to allow an increase to six drills. This expansion should be completed in May and allow scaling up to six drills starting in June.
The Company will be continuing to use both borehole electromagnetic surveys (BHEM) and ground EM as primary tools to inform drill targeting. BHEM has provided excellent success in identifying off-hole anomalies that have resulted in the discovery of sulphide drill intersections. We are currently greatly anticipating drilling conductors recently found west of Lion (Figure 3) and following up on recent success in the Tiger (Figure 4) and between Lion and Tiger (Figure 4).
Follow-up drilling on BHEM anomalies has resulted in sulfide drill intersections at Lion and Tiger (Figures 2 to 5), with no false positives encountered to date. The BHEM work will allow the Company to fully integrate many other geophysical data sets, including ground EM, ground magnetics, and gravity, and match this to surface geological mapping (Figure 1).
Currently, the Company has completed surveys of all previously targeted drill holes, and now with 3 drills turning on mineralized targets, results will progress quicker. BHEM will continue but will be seamlessly integrated with the completion of each drill hole to limit drilling delay.
### THE EXECUTION
**Lion (Figure 3)**
Power Metallic is continuing to explore Lion at depth with success (Figure 3). All drilling in 2025 (and assay pending 2024 holes) have intersected the Lion zone, extending the plunge of Lion. We are currently awaiting assay results from holes PN-24-086, 087, 092, 093, 096, 097, and 100. All these drill holes had significant visual mineralization.
In addition to following the down-plunge direction of Lion to expand the potential resource, Power Metallic has successfully completed BHEM on holes to the west of Lion, and these have indicated strong off-hole plates that will be followed up as soon as possible.
**Tiger (Figure 4)**
Following the initial intersection at Tiger in hole PN-24-094 (700 meters east of Lion), Power Metallic completed BHEM on this hole and identified multiple conductive off-hole plates. These plates were targeted, resulting in sulphide intersections both west (PN-25-098) and east (PN-25-099) of PN-24-094 (Figure 4). Assays are pending for all these holes, but visual logging and XRF results indicate Cu and Ni mineralization. Power Metallic then stepped out further to the west (Figure 5) from hole PN-25-098 to follow up on more BHEM targets and successfully hit sulphides in hole PN-25-101.
The limited drilling so far has not yet provided a confident model for the Tiger zone, and current interpretations assume that strike, dip, and plunge will be similar to Lion and Nisk. As more drilling information accumulates, Power Metallic will provide an interpreted model for Tiger. Drill holes PN-24-094, 098, 099, and 101 all have assays pending.
**Between Lion and Tiger (Figure 5)**
Following the success of Tiger's BHEM surveying, Power Metallic revisited drill hole PN-24-088, which is located approximately halfway between the Lion and the Tiger zones. A semi-completed BHEM survey on the bottom half of PN-24-088 (top of hole collapsed) resulted in an off-hole anomaly, and by using a previous airborne EM anomaly, a vector to the BHEM was estimated. Drill hole PN-25-102 successfully intersected sulphide mineralization. This hole is significant as it provides evidence that mineralization is potentially connected all along the Lion to Tiger trend.
**NISK (Figure 6)**
Power Metallic is currently drilling with one drill in the Nisk area. This program is designed to expand the MRE (Jan 2024) at Nisk, especially to establish its potential to be a much larger Ni/Cu/Co/PGE deposit, and to follow up on indications of possible Lion-style polymetallic mineralization on the fringes east and west of the Nisk main deposit. Future work will expand westward from Nisk along the strike trend of the ultramafic host rock in areas previously shown to be mineralized in historical drill holes.
So far in 2025, Power Metallic completed one hole targeting an off-hole BHEM conductor. This hole intersected a narrow massive sulphide zone, but XRF analyses indicated very high Ni and Co tenor in the sulphides, significantly above previous metal values at Nisk. Although very narrow, this increase in metal tenor opens up the possibility of a new deposit hybrid in the Nisk camp. A second hole is currently drilling down plunge on the Nisk Main deposit to help establish the possibility of a larger resource at Nisk.
### THE FUTURE
In June, the new core facility setup will enable Power Metallic to have six rigs operating. Detailed planning is ongoing, and of course, any future planning will be modified or superseded to follow success. It is currently expected that four drills will work in the Lion-Tiger area, with multiple goals, including expanding Lion and Tiger, developing the Lion-Tiger 'in-between zones,' following the BHEM Lion west targets, and finally infill drilling on Lion in preparation for a possible 1H 2026 mineral resource estimate (MRE).
To facilitate a Lion MRE, work is currently being done on the mineralogy of the deposit to determine the habit of the base metals (Cu, Ni) and the deportment of the PGEs, Au, and Ag. This will help inform a future metallurgical study the Company expects to deliver in 2H 2025.
As the snow melts, other work will include detailed geological mapping and possible soil and till sampling to help identify subsidiary zones of potential mineralization. Finally, Power Metallic is revisiting its 2023 Ambient Noise Tomography (ANT) survey. Recent technological advances in this geophysical method offer the opportunity to refine previous targeting in the Nisk area and encourage an expansion of the surveyed areas for both strike and dip targets integrated with 3-D magnetic and gravity modeling.
"To date, Power Metallic's technical team has gone from one success to another. These successes have allowed Power Metallic to complete its recent financial raise. This money provides the technical team with the funding to follow up and expand on our previous successes," states Joe Campbell, VP Exploration.
### Qualified Person
Joseph Campbell, P.Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
AveragePenny
2 weeks ago
$PNPN $PNPNF - "CEO of 🇨🇦 $PNPN 📷$PNPNF ! We discuss tariffs, mining companies, the sector as a whole, the closing of Power Nickel's financing, Trump and politics, and Save Canadian MiningGreat interview with@terrybali"
Great interview with @terrybali CEO of 🇨🇦 $PNPN 🇺🇸 $PNPNF ! We discuss tariffs, mining companies, the sector as a whole, the closing of Power Nickel's financing, Trump and politics, and Save Canadian Mining https://t.co/Ur4RM4OXkw pic.twitter.com/XFqtEKalCt— Power Metallic (@PowerMetallic) March 14, 2025