PRNewsWire
23 Jun 2026, 07:00 UTC · 4h ago
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Power Metallic reported high-grade drill intercepts at the Lion Zone, including 13.30m at 3.98% CuEqRec and 5.26m at 8.45% CuEqRec. — High-grade assay results significantly increase the perceived value of the asset and the likelihood of an economic deposit.
+0.70The company expects to complete and report the initial Mineral Resource Estimate (MRE) for the Lion and Nisk deposits by the end of July. — The MRE is a critical catalyst that provides the first formal quantification of the project's scale and value.
+0.50A Preliminary Economic Assessment (PEA) will commence immediately following the completion of the MRE. — Moving toward a PEA shifts the project from pure exploration toward economic feasibility and potential mine development.
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Recent drilling identified the western edge of the Lion Zone, where some holes showed low-grade assays despite being near high-grade zones. — While providing structural context, the presence of low-grade zones defines the boundaries of the high-grade core, limiting the potential scale of the immediate high-grade zone.
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The company reported high-grade copper equivalent drill intercepts and is progressing toward a Mineral Resource Estimate.
Mentioned only as the original owner of an optioned project with no current sentiment provided.
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