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Highlights
Power Metallic Mines completes acquisition of Li-FT’s mineral claims in Québec
Company boosts Nisk landholding and prepares for major drilling campaign
Newly appointed auditor aligns with strategy for future senior exchange listings
Power Metallic Mines (TSX-V:PNPN), an exploration company focused on advancing polymetallic projects, has finalised its acquisition of mineral claims from Li-FT Power (TSX-V:LIFT), enhancing its footprint around the Nisk Project in Québec, Canada. The Nisk Project targets copper, nickel, platinum group elements, gold, and silver, reinforcing the company’s ambition to progress toward one of Canada’s key polymetallic systems.
The deal includes over three hundred claims spanning an extensive landholding adjacent to existing discoveries. With this acquisition, Power Metallic Mines now commands a broader strike extent along both the northern and southern basin margins within the Nisk area.
Transaction Finalised With Equity and Cash Consideration
The company completed the transaction through a mix of cash and share issuance to Li-FT Power, which retains a net smelter royalty over the acquired claims. This structure aligns with customary terms in early-stage exploration deals and positions both entities to benefit from future exploration success.
Power Metallic Mines has outlined that the added ground consolidates its control of the geological system around key zones of known mineralisation. This includes enhanced access to prospective extensions of discoveries referred to as Nisk, Lion, and Tiger.
Drilling and Infrastructure Readied for Exploration Ramp-Up
Site preparations are already underway to support an expanded drilling program. Upgrades to camp infrastructure began in late May, including the installation of grid-power capabilities to handle an increased number of drill rigs.
The company plans to launch a multi-rig drilling program in September, with six rigs expected to operate concurrently. The next phase of exploration will leverage historical data and focus on geophysical surveying, including airborne electromagnetic techniques, to refine drill targets.
Systematic geochemical work will also support the development of a comprehensive targeting model. Field teams will map and sample anomalies detected in past campaigns before mobilising drill rigs.
Governance and Audit Support Strengthened for Future Growth
In line with its growth strategy, Power Metallic Mines has appointed MNP LLP, a Chartered Professional Accountants firm, as its new auditor. The firm’s PCAOB registration signals a strategic step toward compliance with requirements for senior stock exchange listings.
This development reflects the company’s long-term vision to elevate its corporate profile while advancing technical work across its expanded Québec landholding. As the global spotlight sharpens on battery metals and polymetallic systems, the company continues to position its exploration portfolio in alignment with energy transition trends.
