Latest news with #PowerMetallicMinesInc
Cision Canada
23-07-2025
- Business
- Cision Canada
Power Metallic Demonstrates Positive Initial Mineralogy Results - PGE Enrichment Associated with Chalcopyrite and Cubanite
TORONTO, July 23, 2025 /CNW/ - Power Metallic Mines Inc. (the "Company" or "Power Metallic") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) Power Metallic is pleased to provide an update on preliminary mineralogy scans preformed by IOS Geosciences based in Chicoutimi, Quebec. Detailed microscopic scans are being performed on selected mineralized samples from the Lion zone to understand the characteristics of the mineralogy. This will help inform future metallurgical recovery studies on the Lion Zone. Approximately half of the suite of over 100 samples selected to represent the various mineralized zones at Lion have been completed, and results to date are encouraging for potential conventional sulphide concentrate recovery methods. The Lion deposit has two zones of mineralization defined by drilling, consisting of a High-Grade zone and a lower grade Hanging-wall Zone. Current understanding is that the vast majority of the metal value in the deposit is contained within the High-Grade zone, consisting of semi-massive to massive copper sulphide mineralization. The scans by IOS reveal the mineralogy of the economic metals, and their host rocks. This characterization is critical for determining potential metallurgical recoveries, in particular for understanding the mineral species of the high value copper and PGEs. Of utmost importance is understanding the characteristics of the High-Grade Zone containing the bulk of the metal in the deposit. Work to date has shown that the copper mineralization is contained within coarse grained chalcopyrite and cubanite, both which should respond well to conventional sulphide concentration methods, similar to processes carried out on Sudbury type ores. Additionally, the scans have shown that the majority of PGE mineral species occur within or attached to the chalcopyrite and cubanite (Figure 1). This suggests the potential for very good recovery of these PGEs in a copper concentrate (Figure 2). In addition, the species of PGE minerals including stannopalladinite, froodite, and merenskyite are minerals that are similar to those recovered in other polymetallic ores, such as the Sudbury basin deposits and Norilsk. Overall, the character of the mineralization and the host sulphides suggest that good recoveries of both the copper minerals and the PGEs can be expected in conventional sulphide concentration recovery methods. Mineralogy and Metallurgical Timeline Mineralogy testing is expected to be complete by the end of summer. Upon completion initial scoping-level metallurgical testing will be started. Aiming to evaluate the optimal recovery method for the deposit. Targeting the start of this work prior to the commencement of the winter drill program, with initial results expected early next year. Qualified Person Joseph Campbell, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release. About Power Metallic Mines Inc. Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada's next polymetallic mine. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia's JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit. For further information, readers are encouraged to contact: Power Metallic Mines Inc. The Canadian Venture Building 82 Richmond St East, Suite 202 Toronto, ON Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
Cision Canada
16-06-2025
- Business
- Cision Canada
Power Metallic Awarded Jabal Baudan Exploration License in Saudi Arabia's Jabal Sayid Belt
TORONTO, June 16, 2025 /CNW/ - Power Metallic Mines Inc. ("Power Metallic" or the "Company") (TSXV: PNPN), a leading exploration and development company, is proud to announce that it has been awarded the exploration license for the Jabal Baudan project in Saudi Arabia's Jabal Sayid Mineralized Belt. This historic milestone positions Power Metallic as one of the few foreign companies with mining concessions in the Kingdom of Saudi Arabia, having secured a successful bid in this prestigious licensing process. Strategic Acquisition in a High-Potential Region The Jabal Baudan property, encompassing over 200 square kilometers, is the largest of the seven exploration packages offered in the Jabal Sayid belt. Situated approximately 150 kilometers south of Jeddah along the western Red Sea coastal plain, Jabal Baudan is recognized for its high prospectivity for copper, gold, and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid Mine and the promising Umm ad Damar deposit. Power Metallic's CEO, Terry Lynch, remarked: "We are honored to have been awarded the Jabal Baudan exploration license, marking a pivotal step in our strategy to expand our portfolio into one of the world's most promising mineral belts. This achievement underscores our commitment to advancing mineral exploration globally and highlights our ability to secure high-value assets in competitive jurisdictions." Location and Geology The Jabal Baudan property is in rugged mountainous terrain dissected by wadi systems that flow southward to the Red Sea. It is underlain by late Proterozoic volcanic, volcaniclastic, and sedimentary rocks, which are intruded by younger plutonic rocks ranging from gabbro to granite. This geological setting shares similarities with the nearby Umm Hiljan deposit, providing significant potential for the discovery of VMS-style mineralization. Historical exploration conducted by BRGM, Riofinex, and USGS between 1966 and 1985 has identified siliceous volcanic rocks and "ironstone" indicative of mineralizing systems conducive to VMS deposits. Power Metallic intends to leverage historical aeromagnetic survey data to refine its exploration strategy and outline key target areas. "The Jabal Baudan site is located at the heart of the most prospective region of Saudi Arabia. It is easily reachable by world quality infrastructure and initial samples have confirmed strong potential for a large range of minerals" Dr Remi Piet, Senior Partner at Embellie Advisory. Exploration Enablement Program (EEP): A Collaborative Opportunity The Jabal Baudan project benefits from the support of the Kingdom's Exploration Enablement Program (EEP), a $182 million initiative aimed at stimulating and de-risking mineral exploration investments in Saudi Arabia. Designed to foster knowledge exchange and mutual growth, the EEP provides up to $2 million per exploration license, capped at 15 licenses per company. Power Metallic's participation in this program will accelerate its geological understanding of the Jabal Baudan property, enabling the Company to prioritize high-potential zones for advanced exploration. Commitment to Advancing Saudi Arabia's Mining Sector Power Metallic's entry into the Kingdom aligns with Saudi Arabia's Vision 2030 initiative, which seeks to diversify the economy and position the country as a global leader in the mining sector. The Jabal Baudan project exemplifies the Kingdom's commitment to fostering foreign investment and developing its mineral resources in a sustainable and innovative manner. "Being part of Saudi Arabia's transformative mining landscape is a privilege and a responsibility we take seriously," added Terry Lynch, CEO. "We are committed to working collaboratively with local stakeholders, leveraging our expertise to unlock the immense potential of the Jabal Baudan property." Next Steps Power Metallic will commence exploration activities at Jabal Baudan with a comprehensive compilation and reconnaissance stage, followed by advanced exploration targeting high-priority zones. The Company will deploy cutting-edge exploration techniques to maximize the project's potential while adhering to world-class environmental and operational standards. About Power Metallic Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger) where the Company has discovered a rare Ortho Magmatic system comprised of high–grade nickel–copper–PGE, gold and silver system The last Ortho Magmatic system discovery was Anglo Americans Sakatti in Finland and other examples include Voisey's Bay and the world's only mine with over $1 Trillion dollars' worth of metal produced or in the ground the legendary Norilisk. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. SOURCE Power Metallic Mines Inc.
Cision Canada
04-06-2025
- Business
- Cision Canada
Power Metallic intercepts 12.54 meters of 10.99% CuEq at the Lion Zone and 11.25m of 1.22% CuEq at Nisk East - First Lion Like Mineralization Intercepted near the Nisk Zone
3.10 g/t Au, 25.52 g/t Ag, 4.09% Cu, 12.06 g/t Pd, 2.00 g/t Pt – Cu EqRec 1 10.99% over 12.54 m in PML-25-012a 1.32 g/t Ag, 0.60% Cu, 0.24g/t Pd, and 0.26 Ni – Cu EqRec 1 1.22% over 11.25 m in PMN-25-004 TORONTO, June 4, 2025 /CNW/ - Power Metallic Mines Inc. (the"Company" or"Power Metallic") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of the final 11 holes from the winter 2025 drilling campaign focused on the Lion Zone (9 holes) and Nisk East (2 holes). The nine holes at lion (PML-25-005 to 013) were testing multiple areas of the Lion Zone, including the down plunge extent, shallow sub-crop projections, in-fill drilling of the Lion Zone, and testing of off-hole EM (BHEM) anomalies west of Lion (Table 1). The general location of the drilling in this news release for the Lion Zone and Nisk East Zone is shown in Figure 1. LION ZONE DRILL RESULTS The nine holes reported in this release were testing the deeper plunge extent on the western side of the Lion Zone; shallow sub-cropping interpreted locations of the Lion Zone, and internal in-fill drilling to better define the heterogenous width and grade of the Lion Zone in preparation for a future mineral resource estimate. Holes PML-25-005 and 012a were testing the down plunge extent of the western side of the Lion Zone. Both holes intersected substantial polymetallic zones (3.10 g/t Au, 25.52 g/t Ag, 4.09% Cu, 12.06 g/t Pd, 2.00 g/t Pt – Cu EqRec 1 10.99% over 12.54 m in PML-25-012a – Figure 2) indicating a potential shift to the west for the plunge of the high grade portion of the Lion zone. This plunge direction will be followed up by early drill holes in the spring/summer drill campaign starting in early June. "Well apologies that took a lot longer than I thought. We try and provide as much visibility as possible but there were some unforeseen delays. That being said we think they have been worth the wait. The team is very keen to get that suite of holes between Nisk and Lion and let's just see how connected these mineralized areas are!" commented Power Metallic CEO Terry Lynch. Holes PML-25-006 through 009a tested interpreted shallow sub-crop locations for the Lion Zone. The shallow areas of Lion were gaps in our knowledge of the deposit. All holes hit low grade hanging-wall style mineralization but failed to intersect the high-grade zones encountered in deeper drill holes. Hole PML-25-13 was specifically targeted on a wide gap in drill spacing that was interpreted as a relatively low grade portion of the Lion Zone. This hole intersected better than expected mineralization including 0.15 g/t Au, 3.73 g/t Ag, 1.48% Cu, 1.49 g/t Pd and 0.44 g/t Pt over 5.83 meters, effectively filling a hole in the projection of the Lion Zone. Figure 3 below shows a revised long-section with pierce points of the drill holes with assays reported in this news release. Significantly, the southwestern plunge direction remains open for additional increases to the size of Lion, and this will be our first target tested in the spring/summer drill campaign. NISK EAST DRILL RESULTS Two holes were targeted on areas east of the Nisk Deposit (MRE 2023), termed Nisk East in previous press releases. Historical drilling in the area had given indications of possible Lion, or Lion-Nisk hybrid style mineralization through indicator minerals located in stratigraphic positions conducive for Lion style zones. Hole PMN-25-003 failed to intersect any significant mineralization, but hole PMN-25-004 hit Lion style mineralization on the stratigraphic footwall to the ultra-mafic sill, like Lion's location. Additional mineralization extended into the ultra-mafic with Ni-Cu Nisk style sulphide mineralization. This discovery will be followed up by drilling in the spring/summer drill campaign and this success provides proof of exploration concepts along the untested target strike length between the Nisk and Lion zones. Lion Zone - Significant assay from holes PML-25-005, 006 Comment Hole From To Length Au Ag Cu Ni Pd Pt Co CuEq Rec 1 (m) (m) (m) (g/t) (g/t ) ( %) ( %) (g/t ) (g/t ) ( %) ( %) PML-25-005 526.00 548.50 22.50 0.20 8.83 1.03 0.05 2.74 0.47 0.00 2.24 Deep extension Including 543.30 548.50 5.20 0.56 25.38 4.00 0.19 11.84 2.01 0.01 8.99 Including 543.30 545.30 2.00 1.09 60.75 8.67 0.25 25.65 4.86 0.01 19.22 PML-25-006 77.40 80.15 2.75 0.12 5.84 1.69 0.14 1.07 0.03 0.01 2.18 Shallow holes testing the sub cropping location of Lion all on the western edge of the Lion Zone PML-25-007 114.05 121.05 7.00 0.12 2.57 0.59 0.08 0.45 1.74 0.01 1.42 Including 115.05 117.05 2.00 0.21 3.90 1.20 0.13 1.16 5.57 0.00 3.44 PML-25-008 74.77 76.77 2.00 0.15 265.00 2.10 0.07 1.87 1.38 0.00 3.21 PML-25-009a From 30-130 meters scattered Cu-Au-Ag with 0.30-0.70% CuEq (35m mineralized) and 139.32 140.32 1.00 0.32 9.80 1.33 0.14 1.59 0.01 0.01 2.24 PML-25-010 No significant assays Testing BHEM West of Lion PML-25-011 422.70 424.70 2.00 0.01 1.40 0.20 0.27 0.54 0.08 0.01 0.99 PML-25-012a 418.21 430.75 12.54 3.10 35.52 4.09 0.20 12.06 2.00 0.01 10.99 100m up plunge from hole PML-25-005 Including 423.42 425.93 2.51 0.75 124.91 13.21 0.53 46.62 5.55 0.03 31.40 PML-25-013 263.50 276.00 12.50 0.13 2.56 0.77 0.02 0.73 0.22 0.00 1.10 In-fill drilling in Lion central low-grade area Including 267.23 273.06 5.83 0.15 3.73 1.48 0.03 1.49 0.44 0.00 2.05 Including 267.23 269.23 2.00 0.28 7.15 4.09 0.08 3.09 0.57 0.00 4.95 Nisk East Zone - Significant assay from holes PMN-25-003, 004 Hole From To Length Au Ag Cu Ni Pd Pt Co CuEq Rec 1 (m) (m) (m) (g/t) (g/t ) ( %) ( %) (g/t ) (g/t ) ( %) ( %) PMN-25-003 No significant assays PMN-25-004 247.00 258.25 11.25 0.02 1.32 0.60 0.26 0.24 0.08 0.02 1.22 Nisk East Zone Including 247.00 251.00 4.00 0.01 2.86 1.49 0.29 0.44 0.19 0.02 2.10 Including 247.00 249.00 2.00 0.01 5.40 2.93 0.33 0.60 0.25 0.02 3.44 Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length 1 Copper Equivalent Rec Calculation (CUEqRec 1) CuEqRec 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. As previously disclosed (news release April 30, 2025), Power Metallic is expanding its core facility to accommodate up to six drills turning. Currently the area of the old core facility has been moved or dismantled and useable structures from that facility have been co-opted into office, storage, safety, core cutting and medical units. New core buildings are beginning to arrive (converted containers – Figure 4, 5), with the first two units in place, and electrical hook-ups being prepared. Drilling is scheduled to start on June 6 with two drills. By the end of June, with the delivery of the next two core logging units, production will be increased to four drills. Initial drilling will be focused on expanding the Lion zone, with follow-up drilling beginning to explore the strike extensions of the favorable stratigraphy from the Lion and Nisk zones, including exploration along the Tiger trend. Drilling during the spring/summer will be a combination of overland and helicopter supported drilling. As we move into the fall freeze up and acquire the final two core logging containers, exploration will expand to six drills. As previously advised, the summer period will include extensive mapping and prospecting carried out in parallel with airborne EM surveying over prospective target areas. Power Metallic has planned the logistics and support for carrying out this largest exploration effort on the project to date. Previously released drill results are available in a public database accessible as a download on Power Metallic's website. Currently this database contains hole assay and collar information up to hole PML-25-002 and will be updated as soon as possible with all remaining publicly released holes. Qualified Person Joseph Campbell, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release. About Power Metallic Inc. Power Metallic is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into Canada's next polymetallic mine. On February 1, 2021, Power Metallic (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE: TSXV). The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Metallic is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to evaluate the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. QAQC and Sampling GeoVector Management Inc ("GeoVector") is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the NQ size drill core. All samples were submitted to and analyzed at Activation Laboratories Ltd ("Actlabs"), an independent commercial laboratory for both the sample preparation and assaying. Actlabs is a commercial laboratory independent of Power Metallic with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES - 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 - Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. GeoVector's QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was performed, and no material errors were observed. Cautionary Note Regarding Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. SOURCE Power Metallic Mines Inc.
Yahoo
04-06-2025
- Business
- Yahoo
Power Metallic intercepts 12.54 meters of 10.99% CuEq at the Lion Zone and 11.25m of 1.22% CuEq at Nisk East - First Lion Like Mineralization Intercepted near the Nisk Zone
3.10 g/t Au, 25.52 g/t Ag, 4.09% Cu, 12.06 g/t Pd, 2.00 g/t Pt – Cu EqRec1 10.99% over 12.54 m in PML-25-012a 1.32 g/t Ag, 0.60% Cu, 0.24g/t Pd, and 0.26 Ni – Cu EqRec1 1.22% over 11.25 m in PMN-25-004 TORONTO, June 4, 2025 /PRNewswire/ - Power Metallic Mines Inc. (the "Company" or "Power Metallic") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of the final 11 holes from the winter 2025 drilling campaign focused on the Lion Zone (9 holes) and Nisk East (2 holes). The nine holes at lion (PML-25-005 to 013) were testing multiple areas of the Lion Zone, including the down plunge extent, shallow sub-crop projections, in-fill drilling of the Lion Zone, and testing of off-hole EM (BHEM) anomalies west of Lion (Table 1). The general location of the drilling in this news release for the Lion Zone and Nisk East Zone is shown in Figure 1. LION ZONE DRILL RESULTS The nine holes reported in this release were testing the deeper plunge extent on the western side of the Lion Zone; shallow sub-cropping interpreted locations of the Lion Zone, and internal in-fill drilling to better define the heterogenous width and grade of the Lion Zone in preparation for a future mineral resource estimate. Holes PML-25-005 and 012a were testing the down plunge extent of the western side of the Lion Zone. Both holes intersected substantial polymetallic zones (3.10 g/t Au, 25.52 g/t Ag, 4.09% Cu, 12.06 g/t Pd, 2.00 g/t Pt – Cu EqRec1 10.99% over 12.54 m in PML-25-012a – Figure 2) indicating a potential shift to the west for the plunge of the high grade portion of the Lion zone. This plunge direction will be followed up by early drill holes in the spring/summer drill campaign starting in early June. "Well apologies that took a lot longer than I thought. We try and provide as much visibility as possible but there were some unforeseen delays. That being said we think they have been worth the wait. The team is very keen to get that suite of holes between Nisk and Lion and let's just see how connected these mineralized areas are!" commented Power Metallic CEO Terry Lynch. Holes PML-25-006 through 009a tested interpreted shallow sub-crop locations for the Lion Zone. The shallow areas of Lion were gaps in our knowledge of the deposit. All holes hit low grade hanging-wall style mineralization but failed to intersect the high-grade zones encountered in deeper drill holes. Hole PML-25-13 was specifically targeted on a wide gap in drill spacing that was interpreted as a relatively low grade portion of the Lion Zone. This hole intersected better than expected mineralization including 0.15 g/t Au, 3.73 g/t Ag, 1.48% Cu, 1.49 g/t Pd and 0.44 g/t Pt over 5.83 meters, effectively filling a hole in the projection of the Lion Zone. Figure 3 below shows a revised long-section with pierce points of the drill holes with assays reported in this news release. Significantly, the southwestern plunge direction remains open for additional increases to the size of Lion, and this will be our first target tested in the spring/summer drill campaign. NISK EAST DRILL RESULTS Two holes were targeted on areas east of the Nisk Deposit (MRE 2023), termed Nisk East in previous press releases. Historical drilling in the area had given indications of possible Lion, or Lion-Nisk hybrid style mineralization through indicator minerals located in stratigraphic positions conducive for Lion style zones. Hole PMN-25-003 failed to intersect any significant mineralization, but hole PMN-25-004 hit Lion style mineralization on the stratigraphic footwall to the ultra-mafic sill, like Lion's location. Additional mineralization extended into the ultra-mafic with Ni-Cu Nisk style sulphide mineralization. This discovery will be followed up by drilling in the spring/summer drill campaign and this success provides proof of exploration concepts along the untested target strike length between the Nisk and Lion zones. Table 1: Significant assay results from this news release - Lion and Nisk East Zones Lion Zone - Significant assay from holes PML-25-005, 006 Comment Hole From To Length Au Ag Cu Ni Pd Pt Co CuEq Rec1(m) (m) (m) (g/t) (g/t ) ( %) ( %) (g/t ) (g/t ) ( %) ( %)PML-25-005 526.00 548.50 22.50 0.20 8.83 1.03 0.05 2.74 0.47 0.00 2.24 Deep extension Including 543.30 548.50 5.20 0.56 25.38 4.00 0.19 11.84 2.01 0.01 8.99Including 543.30 545.30 2.00 1.09 60.75 8.67 0.25 25.65 4.86 0.01 19.22PML-25-006 77.40 80.15 2.75 0.12 5.84 1.69 0.14 1.07 0.03 0.01 2.18 Shallow holes testing the sub cropping location of Lion all on the western edge of the Lion Zone PML-25-007 114.05 121.05 7.00 0.12 2.57 0.59 0.08 0.45 1.74 0.01 1.42 Including 115.05 117.05 2.00 0.21 3.90 1.20 0.13 1.16 5.57 0.00 3.44 PML-25-008 74.77 76.77 2.00 0.15 265.00 2.10 0.07 1.87 1.38 0.00 3.21 PML-25-009a From 30-130 meters scattered Cu-Au-Ag with 0.30-0.70% CuEq (35m mineralized) and 139.32 140.32 1.00 0.32 9.80 1.33 0.14 1.59 0.01 0.01 2.24 PML-25-010 No significant assays Testing BHEM West of Lion PML-25-011 422.70 424.70 2.00 0.01 1.40 0.20 0.27 0.54 0.08 0.01 0.99 PML-25-012a 418.21 430.75 12.54 3.10 35.52 4.09 0.20 12.06 2.00 0.01 10.99 100m up plunge from hole PML-25-005 Including 423.42 425.93 2.51 0.75 124.91 13.21 0.53 46.62 5.55 0.03 31.40 PML-25-013 263.50 276.00 12.50 0.13 2.56 0.77 0.02 0.73 0.22 0.00 1.10 In-fill drilling in Lion central low-grade area Including 267.23 273.06 5.83 0.15 3.73 1.48 0.03 1.49 0.44 0.00 2.05 Including 267.23 269.23 2.00 0.28 7.15 4.09 0.08 3.09 0.57 0.00 4.95Nisk East Zone - Significant assay from holes PMN-25-003, 004 Hole From To Length Au Ag Cu Ni Pd Pt Co CuEq Rec1(m) (m) (m) (g/t) (g/t ) ( %) ( %) (g/t ) (g/t ) ( %) ( %)PMN-25-003 No significant assaysPMN-25-004 247.00 258.25 11.25 0.02 1.32 0.60 0.26 0.24 0.08 0.02 1.22 Nisk East Zone Including 247.00 251.00 4.00 0.01 2.86 1.49 0.29 0.44 0.19 0.02 2.10 Including 247.00 249.00 2.00 0.01 5.40 2.93 0.33 0.60 0.25 0.02 3.44 Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length 1Copper Equivalent Rec Calculation (CUEqRec1)CuEqRec 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. PROGRESS ON SPRING/SUMMER DRILL CAMPAIGN START-UP As previously disclosed (news release April 30, 2025), Power Metallic is expanding its core facility to accommodate up to six drills turning. Currently the area of the old core facility has been moved or dismantled and useable structures from that facility have been co-opted into office, storage, safety, core cutting and medical units. New core buildings are beginning to arrive (converted containers – Figure 4, 5), with the first two units in place, and electrical hook-ups being prepared. Drilling is scheduled to start on June 6 with two drills. By the end of June, with the delivery of the next two core logging units, production will be increased to four drills. Initial drilling will be focused on expanding the Lion zone, with follow-up drilling beginning to explore the strike extensions of the favorable stratigraphy from the Lion and Nisk zones, including exploration along the Tiger trend. Drilling during the spring/summer will be a combination of overland and helicopter supported drilling. As we move into the fall freeze up and acquire the final two core logging containers, exploration will expand to six drills. As previously advised, the summer period will include extensive mapping and prospecting carried out in parallel with airborne EM surveying over prospective target areas. Power Metallic has planned the logistics and support for carrying out this largest exploration effort on the project to date. Previously released drill results are available in a public database accessible as a download on Power Metallic's website. Currently this database contains hole assay and collar information up to hole PML-25-002 and will be updated as soon as possible with all remaining publicly released holes. Qualified PersonJoseph Campbell, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release. About Power Metallic Inc. Power Metallic is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into Canada's next polymetallic mine. On February 1, 2021, Power Metallic (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE: TSXV). The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Metallic is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to evaluate the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. QAQC and Sampling GeoVector Management Inc ("GeoVector") is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the NQ size drill core. All samples were submitted to and analyzed at Activation Laboratories Ltd ("Actlabs"), an independent commercial laboratory for both the sample preparation and assaying. Actlabs is a commercial laboratory independent of Power Metallic with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES - 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 - Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. GeoVector's QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was performed, and no material errors were observed. Cautionary Note Regarding Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. 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Cision Canada
30-04-2025
- Business
- Cision Canada
Power Metallic Expands the Lion Zone - Exceptionally High Copper & Gold Grade Kicks on Deep Eastern Margin of Zone
13.54 g/t Au, 236.6 g/t Ag, 1.08% Cu, 0.21g/t Pd – Cu EqRec 1 12.64% over 1.95 m in PN-25-096 0.19 g/t Au, 50.68 g/t Ag, 7.78% Cu, 0.38g/t Pd, 1.09 g/t Pt and 0.20 Ni – Cu EqRec 1 7.97% over 1.95 m in PN-25-002 TORONTO, April 30, 2025 /CNW/ - Power Metallic Mines Inc. (the"Company" or"Power Metallic") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of 5 holes from the winter 2025 drilling campaign focused on the Lion Zone. The five holes (PN-25-096, 097, 100; and PML-25-001 and 002) were testing the down plunge extent of the Lion Zone, and a large off-hole EM (BHEM) anomaly detected in drill hole PN-24-093. All holes hit Lion style polymetallic mineralization (Table 1). Power Metallic has been exploring multiple zones during the winter 2025 campaign, including the Lion Zone, Nisk Zone, Nisk East Zone, and Tiger Zone. The targets of the winter drilling extends over approximately 8km of strike of favorable stratigraphy. This news release is for Lion Zone drill holes (Figure 1). Assay results are still pending from the winter 2025 program from extensional and definition drilling in the Lion area (9 holes remaining) and four holes from the Nisk deposit area. LION ZONE DRILL RESULTS The five holes reported in this release were testing the deeper plunge extent of the Lion Zone. Holes PN-25-096 and 097 intercepted wide zones (18.5 meters and 31.5 meters drill intercepts respectively) of lower grade disseminated mineralization in the structural hangingwall, as well as the narrower high grade zones characteristic of the Lion deposit (Table 1). Of particular interest is high grade gold, silver, copper mineralization encountered within the ultra mafic (UM) layered intrusion (1.95 meters @ 13.54 g/t Au, 236.6 g/t Ag, 1.08% Cu, 0.21% Ni, 0.21 g/t Pd) in PN-25-096 (Table 1). This mineralization is in a stratigraphic sequence not previously seen to be mineralized at Lion (Lion occurs stratigraphically below the UM), and it appears to be a potential precursor to a more evolved polymetallic mineralization predicted in our exploration modelling. In contrast holes PN-25-100 and PML-25-001 and 002 tested the deeper eastern side of the plunge on the Lion Zone. These holes are missing the lower grade disseminated mineralization, returning narrow high grade only. But the massive sulphide mineralization in these areas are very high grade and copper dominant. In particular, Holes PML-25-001 and 002 have sub-meter massive sulphides that graded 15% Cu and 29.3% Cu respectively, with significant Ni, Pd and Ag grades (Table 1). These massive sulphide zones suggest a change in the character of Lion from the shallower drill intersections containing high precious metals (Pd, Pt, Ag, Au) that helped carry the CuEqRec 1 value. This change may represent possible closer proximity to a Ni/Cu massive sulphide deposit that is characteristic of other polymetallic districts in the world, but that have yet to be discovered at the Nisk project. Terry Lynch, CEO of Power Metallic emphasized the high value of these results by stating, " "With each set of assays we are growing the Lion Zone. We are also still learning. We are defining some of the borders of the Zone even as we are advancing it at depth. The high grade hits here are exciting and we think meaningful clues on richer mineralized areas that are in close proximity. Figure 1 below shows a long-section with pierce points of the drill holes with assays reported in this news release. Included in Figure 1 are images of mineralization (assays pending) intersected in additional deep drill holes (PML-25-005 and 012a) that tested a BHEM anomaly projected along the plunge of the zone and suggesting a continuation of the high grade mineralization. Table 1: Significant assay results from this news release - Lion Zone Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length 1 Copper Equivalent Rec Calculation (CUEqRec 1) CuEqRec 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. Previously released drill results are available in a public database accessible as a download on Power Metallic's website. Currently this database contains hole assay and collar information up to hole PN-24-075 and will be updated as soon as possible with all remaining publicly released holes. Qualified Person Joseph Campbell, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release. About Power Metallic Inc. Power Metallic is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into Canada's next polymetallic mine. On February 1, 2021, Power Metallic (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (CRE: TSXV). The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Metallic is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to evaluate the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits. For further information, readers are encouraged to contact: Power Metallic Inc. The Canadian Venture Building 82 Richmond St East, Suite 202 Toronto, ON Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. QAQC and Sampling GeoVector Management Inc ("GeoVector") is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core. All samples were submitted to and analyzed at Activation Laboratories Ltd ("Actlabs"), an independent commercial laboratory for both the sample preparation and assaying. Actlabs is a commercial laboratory independent of Power Metallic with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES - 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 - Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. GeoVector's QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was performed, and no material errors were observed. Cautionary Note Regarding Forward-Looking Statements This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
