Power Metallic extends Lion deposit to new depths as deep drilling confirms continued mineralization

Power Metallic Mines CEO Terry Lynch joined Steve Darling from Proactive to discuss the first assay results from the company’s Summer 2026 drilling campaign at its flagship Lion discovery, highlighting evidence that the high-grade polymetallic deposit continues well beyond the limits of the current Mineral Resource Estimate (MRE).
Lynch explained that drilling prior to the summer program was largely focused on increasing drill density within the existing resource area to improve confidence in the recently announced MRE. The goal was to upgrade much of the deposit into the Indicated category while refining the geological model, particularly within the portion of the deposit that could potentially support future open-pit development.
The company has now shifted its attention toward exploration and expansion, with widely spaced drilling targeting both geophysical anomalies and deeper extensions of the Lion deposit. The latest results mark the first assays returned from that deep-drilling strategy.
A major highlight came from hole PML-26-125, which represents the deepest assay-confirmed intersection ever reported at Lion, reaching nearly 800 metres vertical depth. The hole was specifically designed to test the projected plunge of the mineralized system approximately 150 metres below the previous deepest significant intercept.
The results confirmed the presence of 5.7 metres of massive to semi-massive copper sulphide mineralization, demonstrating that the Lion system remains robust at depth and extends well beyond the current resource boundary.
For comparison, the previous deepest drill hole through the core of the Lion shoot, PML-25-002, intersected 1.95 metres grading 7.95% copper equivalent at approximately 610 metres vertical depth. The new intercept significantly expands the known vertical extent of the deposit and strengthens the case for further resource growth.
Additional drilling has also supported the interpretation of a continuing mineralized plunge. Hole PML-26-121a targeted the western side of the projected Lion trend at roughly 650 metres vertical depth and intersected disseminated to semi-massive copper sulphides. Meanwhile, hole PML-26-128 tested the eastern side of the system at nearly 900 metres vertical depth and encountered disseminated sulphides and massive copper sulphide veinlets. Assay results from that hole remain pending.
Lynch said the combined results from all three holes provide compelling evidence that the Lion deposit remains open at depth and has not yet been fully defined. The company believes these intersections represent an important step toward demonstrating the scale potential of the system and could ultimately contribute to a significantly larger resource footprint.
#proactiveinvestors #powernickelinc #tsxv #pnpn #otcqb #cmetf #nickel #LionDeposit #Copper #CopperMining #CriticalMinerals #Polymetallic #MiningExploration #DrillingResults #ResourceExpansion #MineralDiscovery #BaseMetals #MiningStocks #JuniorMining