The company’s latest drill program focused on the eastern edge of the Lion Zone, aiming to refine data for a pending mineral resource estimate and a subsequent preliminary economic assessment. Hole PML-26-116 proved particularly productive, confirming significant mineralization near the surface that supports potential open-pit development models. While several peripheral holes on the eastern flank returned lower grades, they successfully identified the structural boundaries of the deposit, providing essential geological context for the upcoming resource modeling.
Power Metallic hits high-grade copper at Lion Zone
Power Metallic Mines has intercepted 36.42 meters of 2.83% copper equivalent at its Lion Zone project in Canada, including a high-grade section of 6.00 meters at 12.38%. These final winter drill results arrive as the company prepares its inaugural mineral resource estimate for the site, scheduled for release later this month.
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Beyond exploration updates, Power Metallic shareholders approved a suite of corporate resolutions during the June 30 meeting in Toronto. The board received authorization to amend the company’s articles to raise the quorum threshold for shareholder meetings to 33-1/3%. CEO Terry Lynch noted that this move is a strategic step toward a future listing on a U.S. national stock exchange, which the company expects will broaden its institutional and retail investor base. The firm remains on track to deliver resource estimates for both the Lion and Nisk deposits by the end of July.
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