Wednesday, June 24, 2026
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Recent drilling results. Power Metallic Mines reported additional assay results from its Winter 2026 drilling program at the Lion Zone, with the results expected to support the company’s initial NI 43-101 Mineral Resource Estimate (MRE), which is scheduled for completion by the end of July. The MRE for both the Lion Zone and the Nisk deposit will provide the foundation for a Preliminary Economic Assessment (PEA) that is expected to begin immediately afterward.
Strong near-surface copper grades. The latest drilling focused on infill holes designed to improve confidence in resource modeling along the western side of the Lion Zone, particularly within a potential future open-pit area. Results continue to demonstrate strong near-surface mineralization, highlighted by Hole PML-26-115, which returned 13.3 meters grading 3.98% copper equivalent (CuEq) beginning just 25 meters below surface, including a higher-grade interval of 3.77 meters grading 9.36% CuEq. Hole PML-26-105 also delivered a strong intercept of 5.26 meters grading 8.45% CuEq at a depth of approximately 140 meters. Both will be included in the upcoming MRE.
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