Power Metallic moves to Nisk amid finalising Li-FT deal
Power Metallic (TSX-V:PNPN) has a skid-based drill active at the Nisk East deposit, amid the company’s finalisation of an acquisition that will add 167km2 to its existing ground.
The acquisition, comprising 313 mineral claims from Li-FT Power (TSX-V:LIFT), is expected to be completed in the coming days.
The Canadian mineral explorer is in the process of acquiring drill permits for additional lands acquired and for extending the Lion-Nisk target area. It is expected that these areas will be permitted for drilling during this current drill campaign.
Once the airborne electromagnetic (EM) and light-detection and ranging (LiDAR) surveys are completed, coupled with the results of prospecting sample assays being returned, drill targets will be developed in the new areas.
Currently, there are three active drill rigs, with the fourth mobilising to site this week. Drilling is a combination of skid-mounted, trail-accessible, and helicopter-supported drills.
At Nisk, Power Metallic is seeking to understand the potential that exists between Nisk and the Lion Zone, as well as targeting plates generated from recent borehole electromagnetic (BHEM) and airborne EM surveys.
Select holes in this program will have CHEM done. To date, three holes have been completed in this drilling program, with assays pending on mineralised zones.
At the Lion Zone, there are two fly rigs turning, aimed to extend Lion down dip and down plunge to the southwest and infill gaps within the known deposit. Extension holes are planned with an 100m by 100m grid following the modelled plunge of Lion and accumulated BHEM conductive plates.
The company says infill holes have been designed to add tonnes to the future resources. To date, five holes have been completed.
Meanwhile at Tiger, Power Metallic has scheduled one drill to explore several undrilled targets that are designed to expand the area into an additional mineral resource.
Between Lion and Tiger, a fourth rig is being mobilised to site this week. The company aims to drill exploratory holes to cover the gap between both zones, as well as evaluate targets following up on mineralised intercepts from the early 2025 program and test targets defined by BHEM surveys.
A large field crew is also conducting detailed mapping and prospecting of the Nisk Project.
Power Metallic is focused on advancing the Nisk Project – a copper, platinum group element, nickel, gold, and silver system – towards Canada’s next polymetallic mine.
Beyond Nisk, the company indirectly has an interest in land packages in British Columbia and Chile, but its 50% ownership in Chilean Metals which were spun out from Power Metallic through a plan of arrangement.
Write to Aaliyah Rogan at Mining.com.au
Images: Power Metallic
