By Mike Maharrey
Money Metals News Service, Eagle, Idaho
Tuesday, November 4, 2025
Central bank gold buying hit the highest level of the year in September, with several new banks adding to their reserves.
Globally, central banks officially added a net 39 tonnes of gold to their holdings in September. That was up 79% month-on-month and was above the 12-month average of 27 tonnes.
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Power Metallic Intercepts 5.35 Meters of 11.97% Cu (16.35% CuEqRec) in Hole 25-022 Infill Drilling,
Expanding the Lion Zone and Provides Updates on Fall/Winter Drill Program and Land Assembly
Company Announcement
November 4, 2025
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) provides a release of assays from its summer drill program and an update on its land assembly activities, together with an outlook to the fall and winter key exploration objectives.
Summer Drilling Release 2 -- Lion–Tiger Area
The summer drilling program was designed to search for extensions to the Lion Zone, specifically down plunge from known mineralization, and to infill drill, including "edge" holes, on the Lion zone to define the zone geometry to a confidence level that would allow a future mineral resource estimate to be carried out to an Indicated Resource classification.
Extensional Drilling Results
Extensional drilling was slow during the summer program as technical problems with the helicopter-supported drills led to lost holes (such as holes PML-25-019 and 024a in this release) that did not reach the mineralization horizon for Lion. Hole PML-25-017 has extended the zone to the west but failed to intersect the high-grade massive sulphide portion of the Lion zone and returned a disseminated zone of 7 meters @ 1.41% CuEqRec 1 that confirms the extension of the mineralizing Lion structure, which will see continued follow-up in the 2025 fall program. ...
... For the remainder of the announcement:
A strong September drove official third-quarter central bank gold purchases to a net 220 tonnes. That was up 28% from Q2 and 6% above the five-year third-quarter average.
The World Gold Council said the pickup in central bank gold demand in Q3, despite record prices, "is evidence that central banks continue to add gold strategically, despite facing higher prices." ...
... For the remainder of the report:
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