TORONTO, July 10, 2025 /CNW/ - Power Metallic Mines Inc. (the "Company" or "Power Metallic") (TSX-V: PNPN, OTCBB: PNPNF, Frankfurt: IVV) Power Metallic is pleased to provide an update on the current exploration activity (Q2-Q3 2025) and the planned scaling up of exploration programs in Q3-Q4 of 2025.
THE BIG PICTURE
Exploration is well underway for the summer to fall drilling campaign. The majority of the logging and core cutting facility upgrade (announced in the March 17, 2025, news release) has been completed allowing for faster expansion of the exploration drill program.
Mobilization of project team members, drillers (RJLL Forage Drilling) and Helicopter support (Expedition) was completed for a June 9th start to the drilling program. Currently there are three (3) active drill rigs, with the fourth (4) mobilizing to site this week. Drilling is a combination of skid mounted trail accessible, and helicopter supported drills.
The drills mobilized are targeting the following drilling meters by zone for the summer drilling period.
As previously carried out in 2024 and Q1 2025 drilling programs, borehole EM (BHEM) surveys are being performed by Geophysique TMC on selected drill holes to identify off-hole anomalies. To date Power Metallic has had great success discovering mineralization following up on BHEM conductors. TMC will also conduct localized ground EM surveys following up on re-interpreted Airborne EM data collected in 2023
In addition to drilling, a large field crew is carrying out detailed mapping and prospecting of the property, including the recently announced land acquisition package from Li-FT Power covering the south limb of the basin containing the prospective geology for Cu-PGE-Ni deposits, and the eastern and western extensions of the Nisk-Lion-Tiger host geology (June 9, 2025, news release).
Supplementing the field mapping Power Metallic has started an airborne EM/magnetic (AEM) survey carried out by Geotech Ltd covering our entire land package (approximately 1/3 completed to date), with the goal of defining EM conductors over prospective geology identified by the mapping crews.
Additional to the AEM survey Power Metallic completed a LiDAR survey with LiDAR Services International (LSI). This survey will provide detailed topography with 10-20cm accuracy for all of Power Metallic's property. LSI will require approximately 10 weeks to process the topographic information. Once completed this survey will be invaluable for identifying outcrop areas for the mapping crews, particularly when overlaid with the co-collected orthorectified imagery at 10 cm pixel resolution that will be provided by LSI. Coupled with the AEM conductors the LiDAR and imagery will be excellent tools for drill site placement over prospective targets.
In the background of the exploration programs Power Metallic is continuing to process detailed mineralogy studies through IOS and Elemission. These studies are designed to quantify the deportment of the Lion style mineralization, and the host rocks containing the Lion Zone. A subsequent press release in the coming weeks will provide (i) an update on the progress of the ongoing studies and (ii) explains the implications for expected metallurgical recoveries.
THE EXECUTION
Drill continues to develop the mineralization along the Nisk-Lion-Tiger trend (Figure 1). As drill permitting advances the target area through this host stratigraphy will be expanded. With four (4) drills operating Power Metallic expects an acceleration in discovery and expansion along this trend.
Lion
At Lion there are two (2) fly rigs turning with the aim of both extending Lion down dip/plunge to the SW as well as to infill gaps within the known deposit. Extension holes have been planned within an aggressive 100 x 100m grid following the modelled plunge of Lion, and accumulated BHEM conductive plates. Infill holes have been designed to add tonnes to the future mineral resource estimate. To date five (5) holes have been completed in this drill campaign with assays pending on significant mineralized zones (Figure 2).
Tiger
Power Metallic has scheduled one (1) drill to explore several undrilled targets (both modelled and BHEM) that are designed to expand this area into an additional mineral resource.
Between Lion and Tiger
There is a wide gap of no information between the currently known Lion and Tiger zones. A fourth drill (fly) is being mobilized to site this week with the goal of drilling exploratory holes between Lion and Tiger to cover this gap, as well as to evaluate targets at Tiger following up on mineralized intercepts from the early 2025 programme, as well as to test targets defined by BHEM surveys.
Nisk Deposit
A skid-based drill is active at Nisk East with the goal of understanding the potential that exists between Nisk and Lion, as well as targeting plates generated from recent BHEM and Airborne EM surveys. Select holes in this programme will have BHEM done. Early drilling during the Q1 2025 drilling campaign and in this campaign has encountered interesting mineralization that appears to be a hybrid of Lion and Nisk styles. To date three (3) holes have been completed in this drill campaign with assays pending on significant mineralized zones.
LiFT Acquisition Update
The Company is in the final stages of completing the acquisition that will add 167 km² to our existing ground (Figure 4). Increasing our land package by more than 300%. We expect to close this acquisition in the coming days and will provide a news release upon closing.
Power Metallic is in the process of acquiring drill permits for the additional lands acquired, and for extending the Lion-Nisk target area. It is anticipated that these areas will be permitted for drilling during this current drill campaign. Specific areas of interest include the extension east of the Lion-Tiger stratigraphy that was acquired from Li-FT, and the western extension of the geology hosting the Nisk deposit which has indications of Ni-Cu mineralization from historical drilling.
Once the AEM and LiDAR surveys are completed, and the results of prospecting sample assays are returned, drill targets will be developed in these new areas.
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.
About Power Metallic Mines Inc.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada's next polymetallic mine.
On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins.
Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.
Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025.
It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia's JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.
For further information, readers are encouraged to contact:
Power Metallic Mines Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
SOURCE Power Metallic Mines Inc.
For further information on Power Metallic Mines Inc., please contact: Duncan Roy, VP Investor Relations, 416-580-3862, [email protected]
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