$PNPNF $PNPN Power Metallic Expands the Lion Zone with Deepest Assayed Intersection to Date and Delivers Initial Ni/Cu Assays from the Tiger Zone
TORONTO, March 25, 2025 /PRNewswire/ - Power Metallic Mines Inc. (the "Company" or "Power Metallic"
(TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of 6 holes from the fall 2024 drilling campaign. Four holes were testing multiple target areas in the Lion zone (holes PN-24-086, 087, 092, 093), and two holes tested the Tiger target (PN-24-090 and 094).
Lion Zone (Figure 1)
Hole PN-24-092 and PN-024-093 tested the eastern edge of the interpreted plunge of the Lion zone, with PN-24-093 providing the deepest assayed intersection to date. Both holes confirmed the location of the eastern plunge extent of the Lion Zone (Figure 2, Table 1). Power Nickel previously released photos of mineralized core from hole PN-25-096 (news release February 5, 2025) located in the interpreted core of the Lion Zone and we are still awaiting assays for that hole (Table 1). Subsequent drilling below PN-25-096 has also returned significant visible mineralization including massive Cu/Ni zones in holes PML-25-001 and PML-25-002 (Figure 2) which are also pending assays to confirm grades.
Drill holes PN-24-086 and PN-24-087 were designed to fill in gaps in the Lion model to confirm the near surface eastern strike extension of the interpreted deposit. Both holes intersected the zone and returned high PGE values, including 1.55m @ 65.09 g/t Pd in PN-24-086 (Table 1, Figure 2).
Borehole EM (BHEM) has become the primary tool for discovery of more mineralization. Interpretation of BHEM results and improved interpretations of ground and airborne EM and magnetic surveys has been conducted by Hardrock Geophysics Inc., a group experienced in conducting geophysical surveys on polymetallic deposits. Identified BHEM conductors have to date consistently indicated sulphides in follow-up drilling. Previously identified conductors west of Lion (PN-24-082 to 085, see NR March 17, 2024) are currently being tested with drilling and have the potential of identifying a parallel sulphide zone to the west of Lion.
Tiger Zone (Figure 1)
Hole PN-24-90 and PN-24-94 were drilled to test a weak airborne EM anomaly 700 meters northeast of Lion (Tiger Zone). Hole PN-24-090 appeared to miss the source of the airborne anomaly but returned multiple narrow zones of Cu, PGE, Au, Ag, +/-Ni (Table 2) confirming the presence of a mineralized structure.
A follow-up borehole EM survey (BHEM) completed in hole PN-24-090 confirmed an off-hole conductor which was drilled with hole PN-24-094 and intersected narrow zones of massive Ni/Cu sulphides (Table 2). Subsequent drill holes based on BHEM on the Tiger target (PN-25-098, 099 and 101) all intersected additional narrow Ni/Cu massive sulphides (assaying pending).
The Tiger zone is interpreted to be mobilized sulphides originating from a proximal ultramafic source rock and emplaced in the footwall paragneiss. To date drilling is still too sparse to model Tiger, but cross-section interpretation indicates that PN-24-090 was stopped just short of intersecting the higher grade Ni/Cu zones that were intersected in hole PN-24-094. BHEM conductors interpreted from hole PN-24-090 correctly vectored hole PN-24-094 to the source of the anomaly.
Subsequent BHEM on the later holes at Tiger have indicated further off-hole conductors that need to be tested. It is not known for certain what causes these off-hole conductors, but to date all previous drill testing of BHEM conductors has resulted in sulphide intersections, so it is reasonable to expect that sulphide concentrations are causing these untested anomalies.
Copper Equivalent Rec Calculation
CuEq Rec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and a recovery grade of 80% for all commodities, consistent with comparable peers.
Qualified Person
Joseph Campbell, P.Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
TORONTO, March 25, 2025 /PRNewswire/ - Power Metallic Mines Inc. (the "Company" or "Power Metallic"
(TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of 6 holes from the fall 2024 drilling campaign. Four holes were testing multiple target areas in the Lion zone (holes PN-24-086, 087, 092, 093), and two holes tested the Tiger target (PN-24-090 and 094). Lion Zone (Figure 1)
Hole PN-24-092 and PN-024-093 tested the eastern edge of the interpreted plunge of the Lion zone, with PN-24-093 providing the deepest assayed intersection to date. Both holes confirmed the location of the eastern plunge extent of the Lion Zone (Figure 2, Table 1). Power Nickel previously released photos of mineralized core from hole PN-25-096 (news release February 5, 2025) located in the interpreted core of the Lion Zone and we are still awaiting assays for that hole (Table 1). Subsequent drilling below PN-25-096 has also returned significant visible mineralization including massive Cu/Ni zones in holes PML-25-001 and PML-25-002 (Figure 2) which are also pending assays to confirm grades.
Drill holes PN-24-086 and PN-24-087 were designed to fill in gaps in the Lion model to confirm the near surface eastern strike extension of the interpreted deposit. Both holes intersected the zone and returned high PGE values, including 1.55m @ 65.09 g/t Pd in PN-24-086 (Table 1, Figure 2).
Borehole EM (BHEM) has become the primary tool for discovery of more mineralization. Interpretation of BHEM results and improved interpretations of ground and airborne EM and magnetic surveys has been conducted by Hardrock Geophysics Inc., a group experienced in conducting geophysical surveys on polymetallic deposits. Identified BHEM conductors have to date consistently indicated sulphides in follow-up drilling. Previously identified conductors west of Lion (PN-24-082 to 085, see NR March 17, 2024) are currently being tested with drilling and have the potential of identifying a parallel sulphide zone to the west of Lion.
Tiger Zone (Figure 1)
Hole PN-24-90 and PN-24-94 were drilled to test a weak airborne EM anomaly 700 meters northeast of Lion (Tiger Zone). Hole PN-24-090 appeared to miss the source of the airborne anomaly but returned multiple narrow zones of Cu, PGE, Au, Ag, +/-Ni (Table 2) confirming the presence of a mineralized structure.
A follow-up borehole EM survey (BHEM) completed in hole PN-24-090 confirmed an off-hole conductor which was drilled with hole PN-24-094 and intersected narrow zones of massive Ni/Cu sulphides (Table 2). Subsequent drill holes based on BHEM on the Tiger target (PN-25-098, 099 and 101) all intersected additional narrow Ni/Cu massive sulphides (assaying pending).
The Tiger zone is interpreted to be mobilized sulphides originating from a proximal ultramafic source rock and emplaced in the footwall paragneiss. To date drilling is still too sparse to model Tiger, but cross-section interpretation indicates that PN-24-090 was stopped just short of intersecting the higher grade Ni/Cu zones that were intersected in hole PN-24-094. BHEM conductors interpreted from hole PN-24-090 correctly vectored hole PN-24-094 to the source of the anomaly.
Subsequent BHEM on the later holes at Tiger have indicated further off-hole conductors that need to be tested. It is not known for certain what causes these off-hole conductors, but to date all previous drill testing of BHEM conductors has resulted in sulphide intersections, so it is reasonable to expect that sulphide concentrations are causing these untested anomalies.
Copper Equivalent Rec Calculation
CuEq Rec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and a recovery grade of 80% for all commodities, consistent with comparable peers.
Qualified Person
Joseph Campbell, P.Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
