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Major Highlights
- Company advances development for mining phase at Case Lake
- Confirms recent site visit with stakeholders and team from the Ontario Geological Survey (OGS)
- Enters final stages of strategic negotiations for Case Lake
Power Metals Corp ( "Power Metals" or the "Company" ) (TSXV: PWM,OTC:PWRMF) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce a Company update for the Case Lake Cesium Project ("Case Lake").
With the exploration and resource foundations in place, Power Metals is turning our attention to the next stage of development to position the Case Lake Cesium Project to become a producing mining operation.
Our team has been hard at work advancing baseline studies, refining development plans and engaging closely with governments and Indigenous partners to ensure the path forward is both technically strong and socially responsible.
This engagement goes beyond consultation. It is about building genuine partnerships that create ongoing employment and contract opportunities for First Nations owned businesses. Most recently, we commissioned local Indigenous contractors to deliver drilling and environmental programs at the project.
These collaborations not only strengthen relationships but also ensure the communities closest to Case Lake share in the economic and social benefits of development.
On the technical side, we've achieved a major highlight with recent laboratory results that confirm the presence of additional critical minerals within our project area.
This not only strengthens the value of our primary resource but also opens up opportunities to supply materials that are central to the global energy transition.
Encouragingly, early conversations with potential offtake partners suggest there is strong appetite in the market for the diverse suite of minerals our portfolio possesses.
This combination of stakeholder progress and technical success is creating momentum as we advance towards development.
Our focus is on positioning the project as a next-generation mining operation that delivers sustainable economic value. We are equally committed to upholding the highest standards of environmental responsibility and community engagement.
We are in the final stages of extended conversations with strategic investors and industry participants, who recognise the importance of building new, reliable supply chains for critical minerals in North America .
With global demand growing and geopolitical factors reshaping trade flows, Case Lake is increasingly seen as a strategically important development with the potential to supply multiple markets.
The months ahead will see us continue work on permitting, while advancing studies that will form the backbone of our development plans with a very low capex that delivers Case Lake into production.
In parallel, our exploration and technical teams are committed to further field work, drilling and analysis, with the goal of adding new data that enhances both scale and optionality for the project.
Each of these steps builds confidence, not just in our ability to deliver, but in the long-term sustainability and competitiveness of the operation.
We recognise that this is not just about building a mine, it's about creating a long-term supply of minerals that are critical to new technologies, cleaner energy and modern economies.
With governments, industry partners and Indigenous communities behind us, our project is on track to deliver value that is both enduring and far-reaching.
I look forward to providing further updates as we progress through what will rapidly become an exciting era for the Company.
Power Metals CEO, Haydn Daxter
Case Lake Property
The Case Lake Property is located 80 km east of Cochrane in northeastern Ontario , near the Ontario Quebec border. It comprises 586 cell claims across Steele, Case, Scapa, Pliny, Abbotsford and Challies townships within the Larder Lake Mining Division. The Property is 10km by 9.5km in size with 14 granitic domes.
The Case Lake pegmatite swarm consists of six spodumene dykes known as the North, Main, South, East and Northeast dykes on the Henry Dome, and the West Joe dyke on a new dome, collectively forming mineralization trend that extends for approximately 10km (Figure 1).
Power Metals has completed several exploration campaigns leading to the discovery and expansion of new and historic spodumene bearing LCT pegmatites at Case Lake. The Company has drilled a total of 23,976 meters of core between 2017 and 2024 at the Property. The Case Lake Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017 (Figure 1).
Decelles Property
The Decelles Property contains 247 claims, covering 14,229 hectares of LCT prospective ground near the mining centres of Val-dÓr and Rouyn-Noranda , approximately 600km from Montreal .
Power Metals acquired the Decelles and Mazerac properties from Winsome Resources in 2023 in a deal that increased Winsome equity stake to 19.59% (refer to press release announced on August 24, 2023 ), the transaction remains subject to TSXV approval. The geology of Decelles property is part of the Archean Pontiac sub-province where S-type LCT prospective, pegmatite bearing, granitic Decelles Batholith intrudes into metasedimentary units of the Pontiac Group.
Spodumene and Beryl bearing pegmatites have been reported historically within the Pontiac sub-province in association with S-type garnet-muscovite granite. The Decelles property is adjacent to Vision Lithium's Cadillac property where discovery of high-grade lithium pegmatites was reported in 2022 (Figure 1).
Mazerac Property
The Mazerac Property is located approximately 30 km east of Power Metals' Decelles property near well-established mining camps in the Abitibi region of Canada and is accessible by network of mining-grade forestry roads. The Mazerac property contains 115 claims that cover 6,653 hectares of LCT prospective ground near the mining centre of Val-dÓr and Rouyn-Noranda . The regional geology of Mazerac is similar to Decelles where S-type LCT prospective, pegmatite bearing, granites of Decelles Batholith intrude into metasedimentary units of the Pontiac Group. Spodumene and Beryl bearing pegmatites have been reported historically within the Pontiac sub-province in association with S-type garnet-muscovite granite (Figure 1).
Pollucite and Cesium
Pollucite is a rare mineral that hosts high grade cesium and is associated with highly fractionated, rare element pegmatites. The main source of cesium known globally is pollucite (Cs,Na)₂(Al₂Si₄O₁₂)•2H₂O, ( https://www.gov.mb.ca/iem/geo/industrial/pollucite.html ). Currently there is no operational mining of high-grade cesium from pollucite occurring globally.
Scientific and Technical Disclosure
The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein , M.Sc., P.Geo., Vice President of Exploration for Power Metals, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (NI 43-101) and a member in good standing with Association of Professional Geoscientists of Ontario (3524).
Power Metals Corp (TSX-V: PWM)
Power Metals Corp (TSX-V: PWM) is a Canadian exploration company focused on developing high-quality critical mineral projects.
Its flagship Case Lake Property in Ontario – 100 per cent owned by Power Metals - is a high-grade cesium, lithium and tantalum asset, poised to become one of only four cesium mines globally.
Beyond Case Lake, the Company's portfolio includes the Decelles and Mazerac Properties near Val-D'Or , Québec. Together, these assets cover 947 claims spanning more than 330km² of lithium-cesium-tantalum (LCT) prospective ground.
As global demand for critical minerals continues to grow global, and particularly in North America , Power Metals is strategically advancing its projects to support the continent's growing supply needs.
Learn more at www.powermetalscorp.com .
-ON BEHALF OF THE BOARD-
Johnathan More , Chairman & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No- securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States , or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
SOURCE Power Metals Corp.
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