Power Metals Corp

Description

Power Metals Corp is primarily engaged in the business of acquiring lithium properties.

In 2016, the firm earlier known as Aldrin Resource Corp was rebranded with the present name. Its stocks are listed on the junior equity trading platform, TSX Venture Exchange, under the symbol ‘PWM’.
The Canada-based company is primarily engaged in the resource exploration, development, and acquisition.

The company, then known as Aldrin Resource Corp, acquired two lithium properties at Case Lake and Larder River in Ontario and Nova Scotia in September 2016. It claims that both the properties demonstrated positive drill results in the past with lithium presence in a vast stretch of land.

The resource exploration company recognizes the growing demand for lithium-based batteries for electric vehicles and energy storage units. These batteries require lithium as a core component and the company claims to bridge the demand gap by providing the lithium resources.

Power Metals Corp also focuses on exploration and development of Tantalum and Cesium resources apart from lithium. The metals company owns three mining properties in Canada, namely Case Lake, Gullwing-Tot Lake Property, and the Paterson Lake Property.

Its flagship project – Case Lake, is a spodumene pegmatite swarm located 100 kilometers north of Kirkland Lake and 80 kilometer east of Cochrane in Northeast Ontario. The project has efficient infrastructure including access via translimit road connecting Ontario and Quebec, the company claims.
Power Metals had reportedly discovered Cesium mineralization extracted from pollucite, a rare mineral, with significant presence in a few Ontario-based properties. The Case Lake project has shown deposits of Pollucite mineral at West Joe spodumene in August 2018, it claims. In addition, the mining zone also have high-grade lithium and tantalum mineralization reserves.

Power Metals claims to have sold its 100 percent rights in cesium ore extracts from Sinclair Zone Cesium deposit to Cabot Specialty Fluids Ltd in 2020.

The Gullwing Tot Lake property lies 30 kilometers to the northeastern side of Dryden and composed of 66 mining claims covering 1216 hectares of land. The project is also accompanied by an efficient infrastructure and hosts multiple commodities including spodumene, Ta-oxides, molybdenite, and pollucite, the resource exploration firm claims.

Paterson Lake property, located 75 kilometers to the north of Kenora, hosts 64 mining claims on 1198 hectares of land and deposits of petalite, Ta-oxides, spodumene and feldspar.