#Canada #Toronto #Nisk Project #Power Metallic #Li-FT Power

Power Metallic Mines Inc. Expands Nisk Project Area by Over 300%

On June 9, 2025, Power Metallic Mines Inc., trading under TSXV: PNPN, announced a transformative move in its exploration strategy. The company has entered into a binding agreement to acquire a 100% interest in 313 mineral claims totaling 167 square kilometers from Li-FT Power Ltd. This landmark agreement allows Power Metallic to significantly expand its Nisk Project Area, enhancing its control over mineral explorations in an area known for its high-grade polymetallic deposits.

The Significance of the Acquisition

The acquisition is poised to elevate Power Metallic's total land position to approximately 212.86 km², which represents a more than 300% increase compared to its previous holdings. This expansion secures around 20 kilometers of strike length on the northern basin margin and 30 kilometers on the southern margin, further enveloping the well-known Nisk, Lion, and Tiger polymetallic discoveries.

The Nisk Project Area is emerging as a significant polymetallic district with enormous prospective potential for the discovery of additional deposits. These types of deposits are relatively rare on a global scale but tend to cluster within larger district and camp-scale formations. Similar successful examples can be drawn from prominent mining sites like Noril'sk in Russia and Talnakh.

Exploration Enhancements and Future Directions

With this new acquisition, Power Metallic is eager to tap into the newly identified mineralization potential surrounding the Nisk property. The company plans to incorporate data from Li-FT’s historical work to refine its regional targeting efforts. Additionally, the compelling results from airborne and ground geophysical surveys will be leveraged to identify near-surface conductors potentially leading to new deposits.

Steve Beresford, Director and Special Advisor to Power Metallic, highlighted the unique geochemical characteristics of polymetallic deposits. He remarked that the geological insights gained from this acquisition empower the company to trace potential extensions of existing known deposits, like Lion, as well as uncovering new camp-scale opportunities that the Nisk-Lion-Tiger region may hold.

Financial Considerations

The acquisition agreement entails a cash payment of $700,000 to Li-FT and the issuance of 6 million common shares of Power Metallic. The shares will be subject to a statutory hold period of four months and a one-year restriction on the transfer of half of the shares. Li-FT will retain a 0.5% Net Smelter Return (NSR) on the claims, ensuring that both entities benefit from the exploration upside.

An essential component of Power Metallic's strategic plan is to maintain a robust exploration program, recently funded adequately for a 100,000-meter drill program set to take place through 2026. The drilling operation focuses on the Nisk-Lion-Tiger trend while integrating Li-FT’s newly acquired claims into its overall exploration strategy.

Exploration Plans Ahead

Field crews commenced mobilization and are set to initiate geological mapping and prospecting, particularly in areas flagged by geochemical anomalies identified during Li-FT’s previous surveys. The integration of the new land is anticipated to enable quicker turnaround on exploration targets and greater flexibility moving forward.

Despite the challenges inherent in mineral exploration, including market fluctuations and regulatory necessities, Power Metallic is equipped to identify and develop the resource potential of the Nisk area comprehensively. CEO Terry Lynch emphasizes that this consolidation allows for systematic approaches to new sulfide iterations while progressively enhancing established resources.

The successful discovery of the Lion deposit has redefined the geological landscape of the area, prompting excitement among stakeholders. The strategic advisory roles being played by experienced team members will be crucial as Power Metallic works to assess the full potential of its expanded land package.

In the coming weeks, a more comprehensive summer exploration plan that reflects the enlarged acreage will be disclosed, offering insights into the next steps in this ambitious exploration endeavor.

Conclusion

Power Metallic's acquisition of the Li-FT claims not only amplifies its exploration footprint but also positions the company as a formidable player in the evolving landscape of polymetallic mining. With a robust operational framework, strategic insights, and a commitment to innovative exploration, Power Metallic is keen to realize its potential at the Nisk Project Area and beyond.