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Power Metal stake North Wind Lithium

28 November 2022 11:36
LON: POW

Power Metal Resources have acquired through staking the North Wind Lithium Project, crisscrossed by roads connecting to the nation-spanning Trans-Canada Highway in mining friendly Ontario.

It brings lithium into the Power Metal portfolio as demand for the most eminent battery metal continues unabated.

Exceeding 5700 hectares, the project lies across a 16 kilometre trend of highly anomalous lithium-in-lake results, considered prospective for highly sought-after lithium-caesium-tantalum pegmatites.

The company said it was a significant boost, providing a new and potentially high-impact lithium opportunity.

“We consider that lithium as a commodity has a particularly bright future with high demand and constrained supply,” chief executive Paul Johnson said.

“In fact, the significant move higher in the lithium price has sparked considerable interest in available exploration properties around the world, and particularly those in safe jurisdictions.

“It was a great achievement that through painstaking work, the Power Metal technical team have been able to identify this new opportunity and secure it through staking, one of the most cost-effective ways to secure new interests.”

Power Metal have more updates to follow as it advances knowledge of the project and sets out initial exploration plans for North Wind.

POW’s London Stock Exchange-listed share price was trading at 1.55 British pence today (11.27 am UTC+ 8 hour).

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