Power Metallic Initiates Metallurgical Testing of Lion Deposit Phase 1 Metallurgy Recovery Contracted to SGS Canada Inc., Quebec City, QC and Lakefield, ON
"Metallurgical Testing is one of the key steps mining companies take to derisk development of mining projects. It is also a necessary step for NI 43-101 reporting on the resource and its economic potential. While we have no immediate plans to produce a NI- 43-101 resource report the results of this study will enable independent bank, company and industry analysts to utilize the appropriate resource recovery numbers while developing economic valuations on the Nisk project. In this respect we are following the path well established by projects like Filo and Great Bear, who both posted assays and azimuths for their exploration results and allowed the analysts to speak to the economic potential of these projects." Commented Power Metallic CEO
Power Metallic carried out a competitive bid process for carrying out the metallurgical studies and has awarded the contract to
Work to date has shown that the copper mineralization is contained within coarse grained chalcopyrite and cubanite, both which should respond well to conventional sulphide concentration methods. Overall, the character of the mineralization suggests good recoveries of copper sulphides, and these initial metallurgical tests will determine the recovery potential of the PGEs, Au, Ag, and Ni., which are expected to report within a conventional sulphide concentrate.
The Lion deposit has two zones of mineralization defined by drilling, consisting of a High-Grade zone (HG) and a lower grade
Power Metallic compiled a series of drill core reject material from the Lion deposit. The sample rejects were chosen to be spatially representative of the known mineralization across strike and down plunge within the deposit. The HG is represented by 103 samples from 15 drill holes and the LG is represented by 99 samples from 10 drill holes (Figure 1).
Each zone of collected core rejects represented approximately 300 kg of sample material which were hand delivered to the SGS laboratory in
The HG and the LG will each have 25 kg extracted from the 75 kg composites to form a Blended Composite, resulting in three (3) separate 50 kg composites for initial analyses and flotation testing. The 50/50 ratio of HG to LG weighting for the Blended composite is based on current estimates of modelled volumes for the two Lion deposit types. Each of the three composites will go through complete metallurgical testing for determining any variability for recovery of the six (6) principal metals (Cu, Pd, Pt, Au, Ag, Ni) for each zone and for the Blended composite. Additional testing may be done for rare earth minerals associated with this polymetallic deposit type (Os, Ir, Rh, Ru, other) if initial mineralogy suggests potential economic concentration.
The metallurgical tests are anticipated to take approximately 14 weeks to complete. Power Metallic will divulge results of the testing as soon as practical, but final reporting of results is not expected before
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About
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada's next polymetallic mine.
On
Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.
Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in
It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of
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Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
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