Canadian exploration company Power Metallic Mines has acquired 313 mineral claims from Li-FT Power, expanding its Nisk-Lion project area by 167km². The agreement was signed in June/July 2025, with a C$700,000 cash payment and issuance of six million common shares. Li-FT Power retains a 0.5% NSR on all acquired claims.

The acquisition expands Power Metallic’s Nisk property to 45.86km², bringing its total landholdings in the Nisk camp to 212.86km². This move consolidates the company’s position along 50km of prospective basin margins, enveloping the Nisk, Lion, and Tiger discoveries. Exploration efforts are focused on Lion Cu–PGE and Nisk Cu–Ni-PGE-Co deposits.

Power Metallic Mines, previously Chilean Metals, secured an option in February 2021 to earn up to an 80% interest in the Nisk project. With the latest acquisition, the company plans to advance exploration activities across the enlarged land package, focusing on expanding mineralisation at Nisk and Lion zones, evaluating the Tiger target, and executing drill programmes.

In addition to the Nisk project, Power Metallic Mines holds interests in land packages in British Columbia and Chile through a 50% share ownership in Chilean Metals. The company also wholly owns Power Metallic Arabia, which holds the Jabul Baudan exploration license in Saudi Arabia’s Jabal Said Belt, known for copper, gold, and zinc potential.

Read more at Yahoo Finance: Power Metallic Mines completes mineral claims acquisition from Li-FT