Power Metallic Provides an Update on Summer 2025 Exploration Programs at Nisk Project TORONTO ,
Power Metallic Provides an Update on Summer 2025 Exploration
Programs at Nisk Project
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.
10,000-12500 meters of drilling at Lion
5,000-6,250 meters of drilling at Tiger
5,000-6,250 meters of drilling at Nisk Main, Nisk West and Nisk East
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.
Figure 2 Areas currently being drill tested (CNW Group/Power Metallic Mines Inc.)
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).
Figure 2 Mineralization from hole PML-25-014 (CNW Group/Power Metallic Mines Inc.)
Figure 3 - Lion Area long-section with drill holes but no assays (CNW Group/Power Metallic Mines Inc.)
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
Figure 4 Li-FT acquisition overlaid on regional basin geology. (CNW Group/Power Metallic Mines Inc.)
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.
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For further information:
For further information on Power Metallic Mines Inc., please contact: Duncan Roy, VP Investor Relations, 416-580-3862,
CO: Power Metallic Mines Inc.
CNW 03:00e 10-JUL-25