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Power Metallic Mines Inc. reports mineral exploration developments tied to its common shares traded as PNPNF in the United States and PNPN on the TSX Venture Exchange. Company updates focus on drill assays from the Lion Zone, infill drilling, structural interpretation, copper-equivalent results, and work supporting future mineral resource estimates and potential development concepts.
Recurring disclosures also cover regional exploration targets around Lion, Lion East, Lion West, Tiger, Elephant and related sulphide or gold mineralization, along with the company's Power Metallic Arabia subsidiary and the Jabul Baudan exploration license in Saudi Arabia's Jabal Said Belt. News may also include investor-relations disclosures, OTC Markets responses, and corporate actions involving mineral exploration assets.
Power Metallic Mines (OTCBB: PNPNF) has successfully completed the acquisition of 313 mineral claims totaling 167 km² from Li-FT Power (OTCQX: LIFFF). The transaction involves a $700,000 cash payment and the issuance of 6 million common shares to Li-FT.
The acquired claims are adjacent to Power Metallic's 45.86km² Nisk property, expanding their total land position to ~212.86 km² in the Nisk camp. This strategic acquisition secures approximately 20 km of strike on the northern basin margin and 30 km on the southern margin, encompassing the Nisk, Lion, and Tiger discoveries.
Li-FT retains a 0.5% NSR on all acquired claims. The company also announced the appointment of MNP LLP as its new PCAOB-registered auditor to support potential senior exchange listings.
Power Metallic Mines (OTCBB:PNPNF) has provided a comprehensive update on its summer 2025 exploration activities at the Nisk Project. The company has significantly expanded its operations with three active drill rigs and a fourth being mobilized. The drilling program targets include 10,000-12,500 meters at Lion, 5,000-6,250 meters at Tiger, and 5,000-6,250 meters at Nisk areas.
The company is conducting extensive exploration activities including borehole EM surveys, detailed mapping, and a new airborne EM/magnetic survey. A LiDAR survey has been completed with expected processing time of 10 weeks. Power Metallic is also in the final stages of acquiring 167 km² of additional land from Li-FT Power, which will increase their land package by over 300%.
Power Metallic (PNPNF) announced significant drilling results from their Lion Zone winter 2025 campaign. The company reported exceptional findings from five drill holes, with standout intersections including:
A high-grade intersection in PN-25-096 yielding 13.54 g/t Au, 236.6 g/t Ag, and 1.08% Cu over 1.95 meters, and another notable result in PN-25-002 showing 7.78% Cu with significant precious metals content over 1.95 meters.
The drilling program revealed two key developments:
- Discovery of new mineralization within the ultra mafic layered intrusion, previously unseen in the Lion Zone
- Evidence of changing mineralization characteristics at depth, suggesting proximity to a potential Ni/Cu massive sulphide deposit
The company continues to expand the Lion Zone with nine holes still pending results. The winter 2025 campaign covers approximately 8km of favorable stratigraphy, including multiple zones: Lion, Nisk, Nisk East, and Tiger Zone.
Power Metallic Mines (TSX-V: PNPN, OTCBB: PNPNF) has announced results from 4 drill holes at the Tiger Zone from its winter 2025 drilling campaign. The holes intercepted Lion-style polymetallic mineralization at shallow depths of 50-100 meters below surface.
Key findings include hole PN-25-099 showing broader widths of mineralization (14.3 meters @ 0.96% CuEqRec including 6.0 meters @ 1.84% CuEqRec), and hole PN-25-102 yielding high-grade copper mineralization (1.00 meter at 6.37% CuEqRec). The Tiger Zone, located 700m east of the Lion Zone, remains the smallest mineralized zone along the Nisk trend but shows potential for significant discovery.
The company has temporarily paused operations for the annual goose hunt and spring breakup, with drilling expected to restart in late May. Results from 20 additional drill holes are pending, including holes from the Lion Zone, Nisk Zone, and Nisk East Zone.
Power Metallic Mines (TSXV: PNPN, OTCBB: PNPNF) has announced results from 6 holes in their fall 2024 drilling campaign. Four holes tested the Lion zone and two holes tested the Tiger target.
In the Lion zone, holes PN-24-092 and PN-024-093 confirmed the eastern plunge extent, with PN-24-093 providing the deepest assayed intersection to date. Holes PN-24-086 and PN-24-087 intersected high PGE values, including 1.55m @ 65.09 g/t Pd.
At the Tiger Zone, located 700 meters northeast of Lion, drilling confirmed narrow zones of massive Ni/Cu sulphides. Hole PN-24-090 returned multiple narrow zones of Cu, PGE, Au, Ag, +/-Ni, while PN-24-094 intersected narrow zones of massive Ni/Cu sulphides. Subsequent drill holes (PN-25-098, 099 and 101) also intersected additional narrow Ni/Cu massive sulphides with assays pending.
Power Metallic Inc (TSXV: PNPN) (OTCBB: PNPNF) has announced a significant expansion of its exploration program at the Nisk Project. The company plans to double its drilling capacity from 3 to 6 rigs by June 2025, supported by a C$40 million exploration budget through 2026.
The expanded program targets approximately 100,000 metres of drilling over 21 months, focusing on the Lion and Tiger polymetallic areas, Nisk deposit expansion, and exploring 5.5 km of strike between these areas. The company is upgrading its core logging facility to accommodate the increased drilling capacity, with completion expected in May.
Recent drilling success includes multiple sulphide intersections at Lion and Tiger zones, with several holes pending assay results. The company employs borehole electromagnetic surveys (BHEM) and ground EM for drill targeting, which has proven highly effective in identifying mineralization. A potential mineral resource estimate (MRE) for the Lion zone is targeted for 1H 2026, with metallurgical studies expected in 2H 2025.
Power Nickel (TSXV: PNPN) (OTCBB: PNPNF) has been recognized among the 2024 Top 50 performers on the TSX Venture Exchange, achieving a remarkable 365% share price appreciation in 2024. The company ranked as the #1 mining company and fourth overall among more than 1,600 TSXV issuers.
The Top 50 companies collectively demonstrated an average share price appreciation of 207% in 2024, improving from 121% in 2023 and 73% in 2022. The group's combined market capitalization reached $21.7 billion, representing an increase of over $16 billion during the year.
Selection criteria for the TSX Venture 50 were based on three equally weighted factors: one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value as of December 31, 2024. CEO Terry Lynch attributed the success to proving the Lion Zone's potential and announced plans to double exploration programs in 2025, with the company being fully funded.
Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) has received approval from the TSX Venture Exchange to change its name to Power Metallic Mines Inc., effective February 21, 2025. The company's shares will continue trading under the symbol 'PNPN' with new CUSIP/ISIN numbers 73929R105/CA73929R1055.
The name change reflects the company's evolution beyond nickel, acknowledging their polymetallic discovery at Nisk. The Lion Zone has demonstrated high-grade Copper, Platinum, and Palladium assays across 40 holes and hundreds of meters of drilling. The company will launch a new website at PowerMetallic.com along with a new video on February 21, marking what they consider their most important discovery phase.