202616 releases
Power Metallic Provides NISK update
The 2026 Mineral Resource Estimate for the combined Nisk and Lion discoveries has been postponed to the end of August, due to staff availability at the consulting engineering firm. Five rigs remain active at the Nisk project, with summer program assays expected in September and through the fall, and a Moose Break from September 15–October 15, 2026. The Company granted 11,300,000 stock options at $1.25 per share with two- to five-year terms, plus 650,000 deferred share units to directors.
CorporatePower Metallic reports New Lion drill intercepts of 36.42 Meters of 2.83% CuEqRec1 in Hole 26-116 including 6.00 Meters of 12.38% CuEqRec1 and Announces AGSM Meeting Results
Final assays from the Winter 2026 drill program at the Lion Zone, part of the Nisk Project Area in Quebec, include hole PML-26-116 with 36.42 m at 2.83% CuEqRec from 84.00 m, including 6.00 m at 12.38% CuEqRec and 4.07 m at 4.30% CuEqRec; PML-26-113 returned 44.50 m at 0.75% CuEqRec. An initial NI 43-101 resource estimate for Lion and Nisk is scheduled for end of July, with a PEA to follow. Shareholders approved all AGSM items on June 30, 2026, including a quorum threshold increase to 33-1/3%.
Drill resultsPower Metallic Announces Appointment of Christopher Beal as Vice President of Operations
Christopher Beal has been appointed Vice President of Operations of Power Metallic Mines Inc., with responsibility for completing the upcoming PEA and then a feasibility study on the Nisk project. He is expected to spend about half his time in the role, moving to full time towards the end of the year or early 2027 and becoming Chief Operating Officer at that time. Beal was CEO of NextOre from 2017 and previously served as Associate Director at RFC Ambrian.
ManagementPower Metallic reports New Lion drill intercepts of 13.30 Meters of 3.98% CuEqRec¹ in Hole 26-115 and 5.26 Meters of 8.45% CuEqRec¹ in Hole 26-105 at Lion
Winter 2026 drill results from the Lion Zone at the Nisk Project Area in Quebec include hole PML-26-115, which cut 13.30 m at 3.98% CuEqRec 25 m below surface, including 3.77 m at 9.36%, and hole PML-26-105, which cut 5.26 m at 8.45% CuEqRec about 140 m below surface. Hole PML-26-106 returned 7.00 m at 2.84% CuEqRec. Infill holes delimited Lion's western edge, with some low-grade assays up to 0.57% Cu and 1.22 g/t Pd. Mineral resource estimates for Lion and Nisk are scheduled for end of July, followed immediately by a PEA.
Drill resultsPower Metallic Mines Expands Exploration Arsenal with Cutting-Edge Geophysical Surveys at Nisk Project
Three geophysical surveys are being added to the summer 2026 exploration program at the Nisk Project in Quebec: an Ambient Noise Tomography survey at the Nisk Far West target using 200 sensors over a 14km by 3km grid, a gravity survey covering Lion, Nisk and Nisk West, and a SQUIDs survey over Lion and Lion West that began in winter 2026. Over 30,000 metres of drilling is planned for the next two quarters of 2026, with mobilization underway. A regional lake sediment survey and field mapping are also planned.
Drill resultsLion Delivers High-Grade Copper Intercepts and Positive Metallurgy on Low-Low Grade Mineralization
Winter 2026 infill drilling at the Lion Zone, part of the Nisk Project Area in Quebec, returned 4.07 m grading 8.73% CuEqRec in hole PML-26-067 at 50 m depth and 10.30 m grading 4.04% CuEqRec in PML-26-097 at about 75 m depth. SGS locked-cycle testing of a low-low grade disseminated composite (0.62% Cu feed) gave 98.3% copper recovery at 25.4% Cu concentrate grade. All assays are expected by mid-June, with Lion and Nisk resource estimates due end of July, followed by a PEA.
Drill resultsPower Metallic Announces Expansion In the Kingdom of Saudi Arabia via Joint Venture With Amaar Mining
A strategic alliance and joint venture framework agreement has been signed with Amaar United Mining Company to jointly pursue mining license opportunities in Saudi Arabia, including future license auction rounds, with any awarded licenses advanced through a 50/50 joint venture. For the first aggregate US$10 million of approved post-award work-program funding, Power Metallic will contribute US$2.5 million and Amaar Mining US$7.5 million, with further funding split 50/50. Power Metallic would act as technical lead and proposed operator, following its Jabal Baudan license award.
AcquisitionPower Metallic Partners with Ideon Technologies to Unlock Deep Discovery Potential at Nisk Lion Zone using Muon Tomography
Power Metallic has engaged Vancouver-based Ideon Technologies to run a borehole muon tomography imaging program at the Lion Zone within the Nisk Polymetallic project in Quebec, using the Ideon REVEAL platform to build a 3D density model. The survey will map over 55,000,000 m³ of rock volume and run for 6 months, with an option to extend to 8 months. Stage one validates the unconstrained model against more than 100 existing drill holes; the calibrated signature will then target anomalies below 200 m across the ~330 km² property. An inaugural mineral resource estimate is planned for this summer.
Drill resultsLion Zone Delivers Second Best Intersection Ever As Power Metallic intercepts 22.00 Meters of 11.46% CuEqRec¹ in Hole 26-095
Drilling at the Lion Zone on the Nisk Project in Quebec returned 22.00 m at 11.46% CuEqRec from 155.00 m in hole PML-26-095, including 6.50 m at 18.59% CuEqRec and 4.00 m at 18.62% CuEqRec. Hole PML-26-069, about 560 m down plunge at 600 m vertical depth, cut 6.58 m at 4.00% CuEqRec, including 2.82 m at 8.26%. Exploratory holes east of Tiger returned sub-economic grades. An inaugural Mineral Resource Estimate is expected in the third quarter of 2026.
Drill resultsPower Metallic intercepts 17.45 Meters of 9.47% CuEqRec¹ in Hole 26-094 and 39 Meters of 5.66% CuEqRec¹ in Hole 26-101 at Lion
Winter 2026 infill drilling at the Lion Zone of the Nisk Project Area in Quebec returned 17.45 m at 9.47% CuEqRec in hole PML-26-094, including 6.30 m at 17.91% CuEqRec, and 39.00 m at 5.66% CuEqRec in PML-26-101, including 9.20 m at 15.18% CuEqRec. Hole PML-26-104, on the western edge, cut 7.40 m at 1.07% CuEqRec. The holes cover roughly 200 m of strike at about 100 m vertical depth and support a Mineral Resource Estimate targeted for the third quarter of 2026. Exploratory holes between Lion and Tiger returned narrow intercepts, including 0.8 m at 0.33% Cu, 0.78 g/t Pd and 0.35 g/t Pt.
Drill resultsPower Metallic Intercepts 27.10 Meters of 2.17% CuEqRec¹, including 4.76 Meters of 10.43% CuEqRec¹ in Hole 26-050 at Lion
Winter 2026 drilling at the Lion Zone within the Nisk Project Area returned 27.10 m at 2.17% CuEqRec in hole PML-26-050, including 4.76 m at 10.43% CuEqRec, confirming the eastern edge of the high-grade copper shoot, while PML-26-052 returned 10.35 m at 2.88% CuEqRec including 4.35 m at 5.94% CuEqRec. Exploratory holes east and west of Lion returned low grade or no significant mineralization, and Elephant target hole PML-25-021x returned 6 m at 0.78 g/t Au, including 1.5 m at 2.56 g/t Au. The infill drilling supports an upcoming Mineral Resource Estimate and PEA, with 37 holes pending assay.
Drill resultsPower Metallic Intercepts 16.55 Meters of 15.11% CuEqRec¹ in Hole 25-049, and 7.60 Meters of 7.20% CuEqRec¹ in Hole 25-043 at Lion
Drilling at the Lion Zone returned 16.55 m of 10.08% Cu (15.11% CuEqRec) in hole PML-26-049, the first hole of the 2026 winter campaign and described as the best copper intersection to date at Lion, plus 4.16 m at 4.15% Cu (6.80% CuEqRec) in PML-25-047 100 m to the west. Deeper hole PML-25-043 cut 7.60 m at 7.20% CuEqRec within 18.00 m at 3.18% CuEqRec, while PML-25-048 returned 15.5 m at 0.89% CuEqRec. Infill work supports a 2026 Mineral Resource Estimate.
Drill resultsPower Metallic Intercepts Lion Style Sulphides (Lion East and Lion West) Following Recently Recognized High Grade Structural Trends
Drilling at the Nisk Project Area has confirmed a shallow easterly plunging high-grade trend at the Lion Zone, with hole PML-26-054 intersecting 5m of Lion style mineralization with visible copper, and PML-26-067 on Lion's western edge cutting 1m of massive copper sulphides plus 3.3 metres of disseminated copper at about 50m vertical depth. Hole PML-25-040 returned 0.31m of massive nickeliferous sulphides grading 2.42% Ni, 1.83 g/t Pd, 0.11% Cu. Regional hole PMX-25-016 returned 34.6 g/t Au over 1.50m from 273.5m.
Drill resultsCHILEAN METALS INC. COMMENCES TRADING ON THE TSX VENTURE EXCHANGE
Chilean Metals Inc. has commenced trading on the TSX Venture Exchange under the symbol CMCG, having filed a Form 2B listing application dated February 9, 2026 on SEDAR+. The company was spun out from Power Metallic Mines Inc. via a plan of arrangement completed February 3, 2025, with ownership split 50% Power Metallic and 50% Power Metallic shareholders of record January 31, 2025. Its flagship asset is the 100%-owned Golden Ivan property in Terrace, British Columbia, comprising 13 mineral claims over 797 hectares, alongside the Zulema, Tierra de Oro, Palo Negro, Hornitos and Tabaco projects in Chile totaling 11,117 hectares.
CorporatePower Metallic Intercepts 20.40 Meters of 4.11% CuEqRec in Hole 25-046, and 8.60 Meters of 6.84% CuEqRec in Hole 25-045 at Lion
Assay results from the summer-fall 2025 drill program at the Lion Zone, Nisk Project, include 20.40 m at 4.11% CuEqRec in hole PML-25-046, including 8.40 m at 8.05% CuEqRec (1.50% Cu, 10.13 g/t Pd, 2.90 g/t Pt, 1.42 g/t Au), and 8.60 m at 6.34% CuEqRec in PML-25-045, including 5.10 m at 9.86% CuEqRec. Extensional hole PML-25-034a returned 7.66 m at 2.69% CuEqRec, while PML-25-036, about 150 m west of the main Lion zone, returned 7.20 m at 0.95% CuEqRec. Remaining fall holes are expected in February.
Drill results
20255 releases
Power Metallic Intercepts 4.40 Meters of 12.18% Cu (14.34% CuEqRec) included within 20.40 Meters of 2.91% Cu (3.58% CuEqRec) in Hole 25-029b at Lion, and Completes the Extension of PN-24-064 to define large off-hole BHEM anomaly
Summer drilling at the Lion zone of the Nisk Project in Quebec returned 20.40 m of 2.91% Cu (3.58% CuEqRec) including 4.40 m of 12.18% Cu (14.34% CuEqRec) in hole PML-25-029b, 19.80 m of 2.71% CuEqRec including 1.59 m of 27.92% CuEqRec in PML-25-025, and 8.10 m of 7.13% CuEqRec including 2.65 m of 17.79% CuEqRec in PML-25-031. Nisk East holes returned modest results, including 4.00 m of 2.34% CuEqRec in PMN-25-005. Hole PN-24-064 was extended 300 m to 1,347 m, with BHEM defining the project's largest off-hole conductor to date, to be drilled in 2026.
Drill resultsPower Metallic Announces AGSM Meeting Results & Update On NYSE Process
Shareholders approved all items of business at Power Metallic Mines' Annual General and Special Meeting held November 20, 2025 in Toronto, including the election of directors Terry Lynch, Peter Kent, Les Mallard, Greg McKenzie, Steve Beresford and Seamus O'Regan, the appointment of MNP LLP as auditor, a new Omnibus Equity Incentive Plan, and an amendment to the Articles giving the board chair a casting vote. Just over 31% of outstanding shares were voted. The company expects an update on its NYSE listing application in early January.
CorporatePower Metallic Intercepts 5.35 Meters of 11.97% Cu (16.35% CuEqRec) in Hole 25-022 Infill Drilling Expanding the Lion Zone and Updates on Fall/Winter Drill Program and Land Assembly
Infill drilling at the Lion Zone of the Nisk Project returned 6.85 m at 13.15% CuEqRec in hole PML-25-022, including 5.35 m at 11.97% Cu (16.35% CuEqRec), and 5.90 m at 10.43% CuEqRec within 27.50 m at 2.75% CuEqRec in hole PML-25-023; holes PML-25-019 and 024a were lost before reaching the mineralized horizon. The land package was increased from 46 km² to 313 km², including Hydro Quebec ground staked in late September. Marketing agreements were signed with Native Ads (up to US$168,000), Sideways Frequency (up to US$150,000, 250,000 options at $1.45) and Apaton Finance (up to 84,817 Euro, 100,000 options at $1.45), subject to TSXV approval.
Drill results
20221 release
The Technical Report is available here
An NI 43-101 technical report and mineral resource estimate for the Nisk Project in the Eeyou Istchee James Bay territory, Québec, has been completed for Power Nickel Inc. The report was prepared by Kenneth Williamson, P.Geo., M.Sc., and Matthew DeGasperis, P.Geo., B.Sc., of 3DGeo Solution Inc., with an effective date of May 17, 2022 and a signature date of August 29, 2022.
Study results