FULL DISCLOSURE: The Deep Dive is long the equity of Power Metallic.
The final assay results are in from Power Metallic’s (TSXV: PNPN) 2025 winter drill program, with the company indicating that it has intersected multiple instances of high grade mineralization.
A total of 11 drill holes saw assays released this morning, with nine holes coming from the Lion Zone while a further two holes came from the Nisk East zone.
Highlights from the results include:
- PML-25-005: 22.50 metres of 2.24% copper equivalent (1.03% copper, 0.05% nickel, 0.20 g/t gold, 8.83 g/t silver, 2.74 g/t palladium, 0.47 g/t platinum) from a depth of 526.00 metres
- Including 5.20 metres of 8.99% copper equivalent (4.00% copper, 0.19% nickel, 0.56 g/t gold, 25.38 g/t silver, 11.84 g/t palladium, 2.01 g/t platinum, 0.01% cobalt)
- Including 2.00 metres of 19.22% copper equivalent (8.67% copper, 0.25% nickel, 1.09 g/t gold, 60.75 g/t silver, 25.65 g/t palladium, 4.86 g/t platinum, 0.01% cobalt)
- PML-25-012a: 12.54 metres of 10.99% copper equivalent (4.09% copper, 0.20% nickel, 3.10 g/ gold, 35.52 g/t silver, 12.06 g/t palladium, 2.00 g/t platinum, 0.01% cobalt) from a depth of 418.21 metres
- Including 2.51 metres of 31.40% copper equivalent (13.21% copper, 0.53% nickel, 0.75 g/t gold, 124.91 g/t silver, 46.62 g/t palladium, 5.55 g/t platinum, 0.03% cobalt)
- PML-25-013: 12.50 metres of 1.10% copper equivalent (0.77% copper, 0.02% nickel, 0.13 g/t gold, 2.56 g/t silver, 0.73 g/t palladium, 0.22 g/t platinum) from a depth of 263.50 metres
- PMN-25-004: 11.25 metres of 1.22% copper equivalent (0.60% copper, 0.26% nickel, 0.02 g/t gold, 1.32 g/t silver, 0.24 g/t palladium, 0.08 g/t platinum, 0.02% cobalt) from a depth of 247.00 metres
Drilling at Lion was focused on testing multiple areas of the zone, which includes the down plunge extent and shallow sub-crop projections. Infill drilling also occurred, alongside the testing of off-hole electromagnetic anomalies to the west.
Notably, holes PML-25-005 and PML-25-012a both intersected large polymetallic zones when testing the down plunge extent of mineralization on the western portion of the Lion zone. This mineralization is said to suggest that a potential shift to the west occurs for the plunge of the high grade portion of the zone, with follow up drilling over the spring/summer drill campaign to test this theory.
READ: Power Metallic To Expand Drill Program To Six Rigs, 100,000 Metres Of Drilling Planned
Low grade mineralization meanwhile was intersected in shallow sub-crop locations for the zone, which was previously a gap in understanding of the deposit. All holes conducted here hit hanging-wall style mineralization, without intersecting high-grade zones.
The company is currently in the process of upgrading the core facility to accommodate up to six operating drill rigs. New core buildings have begun to arrive, with the first two units now in place. Drilling is slated to begin later this week with two drills, while a further two drills will begin operating later this month upon the arrival of two additional core logging units.
Drilling is set to initially target the expansion of the Lion zone, followed by exploration on the strike extensions from both Lion and Nisk, with exploration also to be conducted along the Tiger trend. At the same time, mapping and prospecting will continue to be carried out alongside airborne electromagnetic surveys.
Power Metallic last traded at $1.18 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Power Metallic. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
