{"id":31544,"date":"2025-06-09T10:11:17","date_gmt":"2025-06-09T14:11:17","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=31544"},"modified":"2025-06-09T10:24:29","modified_gmt":"2025-06-09T14:24:29","slug":"power-nickel-expands-nisk-300-with-new-land-acquisition","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/power-nickel-expands-nisk-300-with-new-land-acquisition\/","title":{"rendered":"Power Metallic Expands Nisk 300% With New Land Acquisition"},"content":{"rendered":"

Power Metallic Mines Inc<\/b>. <\/b>(TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV)<\/strong> announced it has executed a definitive agreement dated June 9, 2025<\/span>\u00a0to acquire a 100 % interest in 313 mineral claims totalling 167 km\u00b2 from\u00a0Li-FT Power Ltd.<\/b>\u00a0(“Li-FT”)<\/b> (TSXV: LIFT) (OTCQX: LIFFF) (FRA: WS0).<\/p>\n

The claims adjoin the Company’s 45.86 km\u00b2 Nisk property, where exploration is expanding the high\u2013grade Lion Cu\u2013PGE discovery and the Nisk Ni\u2013Cu\u2013Co deposit. On closing, Power Metallic’s land position will grow more than 300% to ~212.86 km\u00b2, securing approximately 20 km of strike on the northern basin margin and 30 km on the southern margin that envelope the Nisk, Lion, and Tiger discoveries.<\/p>\n

Nisk Project Area<\/u><\/b><\/h3>\n

The Nisk-Lion-Tiger discoveries have established a new polymetallic district with considerable potential for additional deposits. These deposit types are globally rare but form clusters at district and camp scale (Noril’sk and Talnakh, Kevitsa and Sakatti, as relevant examples). Currently discovered polymetallic mineralization on the Nisk property has been confined to a major translithospheric structure along the sedimentary basin margin defining the locations of the Nisk, Lion, and Tiger discoveries (Figure 1 map of original Nisk targets overlain on geology).<\/p>\n

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Figure 1 \u2013 Targets available to Power Metallic prior to acquisition of Li-FT lands (CNW Group\/Power Metallic Mines Inc.)<\/figcaption><\/figure>\n
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Figure 2 \u2013 New land package overlain on basin geology (CNW Group\/Power Metallic Mines Inc.)<\/figcaption><\/figure>\n
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Steve Beresford<\/span>, Director and Special Advisor, stated:
\n<\/b>“Polymetallic deposits have unique primary and secondary geochemical footprints (that contrast with Nickel dominant sulfide deposits like Voisey’s Bay) that enable us to recognize early the tip of the iceberg i.e. extensions of Lion or mimics that represent new camp to district scale opportunities. We know a lot about how these deposits spatially cluster that’s different to lode Au or VMS, and now is the time to own the whole opportunity”.<\/p>\n<\/div>\n

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Purchase Agreement Terms<\/b><\/h3>\n

The purchase of the 100% interest in the claims (exclusive exploration rights) requires a $700,000<\/span>\u00a0cash payment to Li-FT and the issuance of 6,000,000 common shares of the Company (the “Shares<\/b>“). All the Shares will have a statutory hold period of four months and a day from issuance in accordance with Canadian securities laws. 3,000,000 of the 6,000,000 Shares will also bear a 12 month hold and restriction from transfer. Additionally, Li-FT will retain a 0.5% NSR on all acquired claims. The share\u2013weighted consideration preserves cash for drilling while giving both Power Metallic and Li\u2013FT exposure to the exploration upside in the basin. The issuance of the Shares is subject to the Company’s receipt of approval from the TSX Venture Exchange.<\/p>\n

Fully Funded 100,000\u2013Metre Drill Program Through 2026<\/b><\/h3>\n

The drilling rig has been collared on the first hole of the summer program. We are resuming work along the Nisk\u2013Lion\u2013Tiger trend while integrating its newly acquired LIFT claims\u2014an expansion that increases the Company’s land position more than 300%.<\/p>\n

Field crews will mobilize in successive waves beginning the last week of May, with camp upgrades\u2014including grid\u2013power wiring for new core\u2013logging facilities\u2014well underway. Drilling will initially recommence in the Nisk-Lion-Tiger area to expand current zones. It is anticipated that by early fall of 2025 the core facility capacity will be ramped up to six drills enabling quicker exploration target turnaround and flexibility to follow exploration successes on the expanded Nisk Project Area.<\/p>\n

Key elements of the work program<\/b><\/h3>\n