Power Metallic Mines seen as undervalued as Lion Zone drilling delivers record copper grades
Noble Capital Markets believes that Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) may be underappreciated by the market, citing continued high-grade drilling results at the Lion Zone as evidence of both strong near-surface continuity and broader district potential. The first...
Power Metallic Mines Inc(TSX-V:PNPNOTCQB:PNPNF) View Price & Profile Power Metallic Mines seen as undervalued as Lion Zone drilling delivers record copper grades
Published: 13:34 11 Mar 2026 EDT
Noble Capital Markets believes that Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) may be underappreciated by the market, citing continued high-grade drilling results at the Lion Zone as evidence of both strong near-surface continuity and broader district potential.
The first hole of the 2026 winter campaign, PML-26-049, intersected 16.55 meters grading 10.08% copper (15.11% copper equivalent) within massive to brecciated copper sulphides. Noble's analysts pointed out that this represents the strongest copper intercept reported at the Lion Zone to date and supports management’s view that portions of the system could be amenable to open-pit extraction.
Additional holes, including PML-25-047 and PML-26-043, continued to demonstrate strong grade continuity and extended high-grade lenses, strengthening confidence in the deposit’s geometry and potential for Indicated Resource classification.
Beyond the core Lion Zone, Noble highlighted exploration drilling at Lion West and Lion East, which tested electromagnetic targets along the same ultramafic host horizon.
While intercepts were narrow, the analysts noted that they “confirm the presence of the same mineralized horizon beyond the currently defined Lion Zone,” supporting the interpretation of a potentially larger Lion-style system.
“The latest drilling reinforces the consistency and grade profile of the Lion Zone while expanding the near-surface mineralized footprint ahead of a planned 2026 mineral resource estimate,” the analysts wrote, maintaining their ‘Outperform’ rating on the stock.
“We believe the market may be underappreciating the implications of the continued impressive drilling results and high-grade metallurgical recoveries.”
The analysts have a price target of $2.65 on Power Metallic Mines, implying significant upside from current levels of $0.87.