At PDAC 2026, Power Metallic’s Terry Lynch Discusses Lion’s High-Grade Copper Results

Key Takeaways

• Lion zone shows 32 m @ 7% copper‑equivalent
• Estimated 8‑13 Mt grading 5‑7% CuEq
• 35,000 m drilled; 10,000 m results due soon
• $33 M cash on hand after $50 M financing
• Metallurgical tests achieved 98.9% copper recovery

Summary

At PDAC 2026, Power Metallic CEO Terry Lynch highlighted high‑grade copper results from the Lion zone in Quebec’s James Bay region. The company has completed 35,000 metres of a 100,000‑metre drill program, reporting intercepts such as 32 metres grading 7% copper‑equivalent and a resource estimate of 8‑13 million tonnes at 5‑7% CuEq, far above the industry average of 0.4%. Strong financing—$33 million cash after a $50 million flow‑through—supports the work, and metallurgical tests showed up to 98.9% copper recovery. Power Metallic plans to accelerate its PEA for a fall release, aiming to demonstrate a robust, high‑IRR mine scenario.

Pulse Analysis

Copper demand is accelerating as green‑energy policies drive electrification, yet supply constraints keep prices elevated. In this environment, high‑grade deposits are especially valuable because they lower extraction costs and improve project economics. The Lion zone’s 7% copper‑equivalent intercepts stand out against the global average grade of roughly 0.4%, positioning the discovery as a potential benchmark for new‑generation copper mines in North America.

Power Metallic’s drilling campaign is on track, with 35,000 metres already logged and another 10,000 metres of results expected within weeks. Analysts estimate the Lion resource could contain 8‑13 million tonnes grading 5‑7% CuEq, a scale that rivals many existing operations. Coupled with metallurgical recoveries nearing 99% copper and a solid balance sheet—$33 million cash after a $50 million flow‑through—these factors significantly reduce the financial and technical risk profile, making the project attractive to both junior and institutional investors.

The company’s next milestone is an accelerated Preliminary Economic Assessment slated for this fall. A strong PEA could showcase a high internal rate of return, reinforcing Power Metallic’s strategic positioning in the copper supply chain. If the Lion zone delivers on its promise, the firm may secure a foothold in the rapidly expanding electric‑vehicle and renewable‑energy markets, offering shareholders exposure to a high‑margin, low‑cost copper source at a time when the metal’s strategic importance is at its peak.