Power Metallic Mines' Lion Deposit Unveils Significant Copper Find

Power Metallic Mines has released its maiden mineral resource estimate for the Lion deposit, revealing a significant find of copper equivalent and precious metals. The deposit contains an estimated 4.75 million tonnes grading 3.9% copper equivalent, including notable amounts of platinum group metals and gold. The company's CEO did not make any public statements about this development.

The resource estimate is mostly classified as Indicated, which supports a price target increase by Hannam & Partners to C$2.70 per share, representing a 13% boost from the previous estimate. Power Metallic Mines has sufficient funding through 2026 for extensive drilling and aims to complete a preliminary economic assessment by mid-2027.