Deep Lion Copper Discovery
Power Metallic Reports 14% Copper Intercept at Deep Lion Deposit
Anonymous
Power Metallic Mines reported initial results from deep extensional drilling at the Lion deposit within its Nisk Project Area, following an earlier campaign focused on infill drilling and improving the mineral resource estimate. Hole PML-26-125 returned 5.7 meters grading 14.00% copper-equivalent recovered at a nearly 800-meter vertical depth, making it the deepest assay reported at Lion and extending mineralization well below the current resource model. Hole PML-26-121a intersected disseminated to semi-massive copper sulphides at roughly 650 meters depth, while hole PML-26-128 encountered copper-sulphide veinlets at nearly 900 meters, with assays pending. The company said the results confirm that Lion continues at depth and remains incompletely delineated, potentially supporting further resource growth, though additional drilling and assays are needed to assess its economic significance.
Key Points
1
Before the new result, hole PML-25-002 was the deepest reported intersection in the core of the Lion shoot, returning 1.95 meters grading 7.95% CuEqRec at approximately 610 meters vertical depth.
2
The earlier winter drilling campaign was intended to increase drill-intercept density, improve confidence in the Lion resource model—particularly within the potential future open-pit area—and move most of the deposit known by the end of April 2026 into the Drill Indicated category.
3
Beyond the deep Lion drilling, the summer program included widely spaced exploration holes targeting geological and geophysical electromagnetic anomalies, with additional assay results expected from Lion and regional exploration in the following weeks.
4
CEO Terry Lynch described the company as being in a “unique position” because of the Nisk project’s high-grade, near-surface mineralization and its potential role in advancing critical minerals, particularly copper and platinum-group elements.
5
Power Metallic is advancing the broader Nisk Project Area as a polymetallic system targeting copper, platinum-group elements, nickel, gold and silver, rather than focusing solely on the Lion copper mineralization.
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