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Yahoo
2 days ago
- Business
- Yahoo
MAIDEN MINERAL RESOURCE ESTIMATE CONFIRMS CASE LAKE AS THE WORLD'S FOURTH LARGEST CESIUM RESOURCE
Major Highlights The maiden Inferred Mineral Resource Estimate (MRE) of 13,000 tonnes grading 2.40% Cs₂O at the West Joe dykes within the Case Lake Cesium Project represents the world's fourth only hard-rock cesium resource¹ Additional exploration target of 11,000-15,000 tonnes of Cs₂O identified at the West Joe dykes 17 untested targets with pollucite-bearing pegmatite dykes, outside of the West Joe dykes and within the Case Lake Cesium Project, offer excellent potential to expand the resource profile The MRE covers just one of eight pollucite-bearing pegmatite dykes, based on 7,264 m of drilling from 113 drill holes conducted in 2018, 2022, and 2024 Excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, with existing forestry trails, proximity to rail at Cochrane, powerlines, and major ports in Montreal for export to key markets The MRE establishes the Case Lake Cesium Project as a globally significant cesium source and will underpin its continued development Strategically located in North America, the project supports critical mineral security and aligns with growing global demand VANCOUVER, BC, June 5, 2025 /CNW/ - Power Metals Corp ("Power Metals" or the "Company") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce the maiden National Instrument 43-101 ("NI 43-101") compliant Mineral Resource Estimate ("MRE") for the Case Lake Cesium Project ("Case Lake"), located in northeastern Ontario. The consolidated in-pit MRE, reported in the Inferred category, comprises 13,000 tonnes grading 2.40% Cs₂O for 330 tonnes of Cs₂O concentrate. This MRE covers just one of eight pollucite-bearing pegmatite dykes within the Case Lake property (Figure 1), based on 7,264 m of drilling from 113 holes completed in 2018, 2022, and 2024. Additionally, an exploration target was produced by Snowden Optiro of 11,000-15,000 tonnes of Cs₂O has been identified at the West Joe dykes, and 17 untested targets including the 8 dykes across 21 km² highlight substantial potential for future resource expansion. ¹ Globally there has been 3 previous hard rock cesium mines with Tanco in Manitoba (Canada), Bikita in Zimbabwe (Africa), and Sinclair in Norseman (Western Australia). Operations commenced at Tanco in the 1950's and has been under Chinese ownership (Sinomine) since 2021. No MRE has been released on the TSX for the Tanco property. Bakita is a privately held property and linked to Sinomine, various reports based on lithium resources have been noted with no MRE relating to cesium oxide. Pioneer Resources produced an updated MRE for Sinclair in November 2018, and initial MRE on March 22, 2017. Haydn Daxter, CEO of Power Metals commented: The announcement of Power Metals first NI 43-101 Mineral Resource Estimate for the Case Lake Cesium Project signals a significant milestone for the Company and Ontario in the development of critical minerals in Canada. With the estimated 13,000 tonnes at a grade of 2.40% Cs₂O based on only 7,264m of drilling, the Case Lake Project is the world's fourth hard-rock cesium deposit. The majority of the pollucite bearing pegmatites remain unconstrained and open to an exceptional potential of further growth as represented with the current exploration target at West Joe. Johnathan More, Chairman of Power Metals, added, I am very pleased to see the team deliver on our maiden Mineral Resource Estimate at Case Lake as we continue to develop this fast-tracked critical mineral project. Our ability to position Case Lake as the world's fourth only cesium resource from 7,264m of exploration drilling is incredibly rare, and further highlights the growth potential with the current exploration target and untested zones on the property. The Company currently is developing the Case Lake Cesium Project to be Ontario's first critical minerals project in production. To achieve this target, we engaged in the MRE at the infancy of exploration drilling to target cesium and look forward to the growth that remains in the property for the Company and the state of Ontario. Table 1 – Case Lake Cesium Project Deposit In-pit Mineral Resource Estimate Inferred MRE above 0.1% Cs2O cut-off within pit TONNES Cs₂O_PCT Li₂2O_PCT Ta₂O₅_PPM Cs₂O tonnes Li₂2O tonnes Ta₂O₅ tonnes 13,000 2.4 1.3 460 330 180 6 Lithium and tantalite are currently being tested as part of the production of cesium oxide concentrate via the X-ray transmission (XRT) analysis completed as part of the Case Lake Cesium Project metallurgical program (see press release dated December 3, 2024, and April 14, 2025) provides confirmation of simple straightforward cesium oxide production that is suitable for the pollucite-bearing dykes included the maiden resource estimate. Lithium (spodumene) is undergoing a low-cost dense media separation ("DMS"), flotation circuit and magnetic separation analysis at present. Tantalite is concurrently under analysis via wet screen and magnetic separation to review the viability with Nagrom ("The Mineral Processors"), Perth, Australia. The lithium and tantalite test work results are expected in July of 2025. Table 2 – Case Lake Cesium Project Deposit Exploration Target Exploration Target Ranges TONNES Cs₂O_PCT Li₂2O_PCT Ta₂O₅_PPM 11,000 0.41 0.49 190 15,000 0.36 0.49 200 The additional exploration targets defined at Case Lake have been generated from previous field campaigns based on geochemical analysis, rock chip sampling, soil sampling, exploration drilling, and structural interpretations with geophysics conducted between 2020-2024 by the Company. The potential quantity and grade are conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain whether further exploration will result in the target being delineated as a mineral resource. Case Lake Cesium Project Mineral Resource Estimate Notes: The Mineral Resource Estimate (MRE) was estimated by Susan Havlin, BSc (Hons), MAusIMM (CP) and reviewed by Dr Andrew Scogings MAIG (RPGEO industrial minerals) of Snowden Optiro, an independent Qualified Person as defined by NI 43-101. Susan Havlin conducted a site visit to Case Lakes in April 2025. The classification of the current MRE into Inferred mineral resources is consistent with current 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves. The effective date for the Mineral Resource estimate is May 30, 2025. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding. The mineral resource is presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered to have reasonable prospects for eventual economic extraction. Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The CLCP MRE is based on a validated database which includes data from 113 surface diamond drill holes totalling 7,264 m. The resource database totals 2,499 assay intervals representing 2,541 m of drilling. The average assay sample length is 1.02 m. The MRE is based on a three-dimensional ("3D") pegmatite resource model, constructed in Leapfrog, representing the West Joe pegmatite deposit. Cs₂O grades were estimated for each mineralization domain using 1.0 metre composites. To generate grade within the parent blocks, ordinary kriged (OK) interpolation method was used. The parent block size of 2 mX by 2 mY by 2 mZ with sub-blocking down to 0.5 m in each direction. Dynamic anisotropy was utilised to account for the undulating nature of the pegmatites. Three search passes were employed with an initial search distance half the variogram range, the second search was the range of the variogram, and the final search was double the variogram range. The first search pass had a minimum of eight samples and max of 12 samples, the second pass the minimum dropped to six and for the third search pass the minimum dropped to four samples. Average density values were calculated within the pegmatite with the formula density = 2.665 + (0.008793*Cs2O%) + (0.066436*Li2O%) and assigned in the waste domains based on a database of 1,072 samples. Power Metals envisions that the CLCP deposit may be mined using open-pit mining methods. Mineral resources are reported at a base case cut-off grade of 0.10% Cs₂O. The in-pit Mineral Resource grade blocks are quantified above the base case cut-off grades, above the constraining pit shell, below topography, and within the constraining mineralized domains (the constraining volumes). The results from the pit optimization are used solely for the purpose of testing the "reasonable prospects for economic extraction" by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. The exploration target at the CLCP was based on limited deep drilling completed in 2023 and 2024, the pegmatite and mineralization were extended at depth. The target range is conceptual in nature and was generated using assumptions based on the geological and grade continuity of mineralized pegmatites observed from shallow drilling up dip. The base-case Cs₂O Cut-off grade considers the following assumptions: a cesium concentrate (15-20% Cs₂O) price of US$35,000/t, a mining cost of US$7.30/t mined, processing, treatment, refining, G&A and transportation cost of USD$28.09/t of mineralized material, as were pit slope angles of 45° and mining loss and dilution of 5% and 5%. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Scientific and Technical Disclosure The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, 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 -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 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. View original content to download multimedia: Sign in to access your portfolio
National Post
2 days ago
- Business
- National Post
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
Article content TORONTO — Lithium Royalty Corp. (TSX: LIRC) ('LRC') is pleased to congratulate Power Metals Corp. ('Power Metals') on its maiden mineral resource estimate ('MRE') for the West Joe Dyke within the Case Lake property in Ontario. Article content The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs 2 O), with a cut-off grade of 0.1% Cs 2 O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. Article content Article content The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. Article content 'The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year,' said Ernie Ortiz, President and CEO of LRC. Article content 'With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp.' Article content Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Article content 2 Article content O with a cut-off grade of 0.1% Cs Article content 2 Article content O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Article content Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Article content Other assets with cesium exposure in the LRC portfolio include: Article content announced Article content that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Article content Grid Metals Donner Lake Project: Article content Grid Metals Article content announced Article content the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ('Tanco'), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. Article content LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Article content Cesium Market Overview Article content Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Article content Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Article content Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Article content The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. Article content About Lithium Royalty Corp. Article content LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Article content Forward Looking Statements Article content This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, Article content expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'potential for', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Article content A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have 'passive foreign investment company' ('PFIC') status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. Article content For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under 'Risk Factors' in the Annual Information Form, and in particular risks summarized under the 'Risks Related to Mining Operations' heading. Article content Article content Article content
Business Wire
2 days ago
- Business
- Business Wire
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ('LRC') is pleased to congratulate Power Metals Corp. ('Power Metals') on its maiden mineral resource estimate ('MRE') for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs 2 O), with a cut-off grade of 0.1% Cs 2 O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. 'The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year,' said Ernie Ortiz, President and CEO of LRC. 'With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp.' Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs 2 O with a cut-off grade of 0.1% Cs 2 O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ('Tanco'), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Forward Looking Statements This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'potential for', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have 'passive foreign investment company' ('PFIC') status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under 'Risk Factors' in the Annual Information Form, and in particular risks summarized under the 'Risks Related to Mining Operations' heading.
Yahoo
2 days ago
- Business
- Yahoo
Lithium Royalty Corp. Congratulates Power Metals on World-Scale Cesium Discovery; Potential Near-Term Incremental Revenue Source for LRC
TORONTO, June 05, 2025--(BUSINESS WIRE)--Lithium Royalty Corp. (TSX: LIRC) ("LRC") is pleased to congratulate Power Metals Corp. ("Power Metals") on its maiden mineral resource estimate ("MRE") for the West Joe Dyke within the Case Lake property in Ontario. The MRE establishes the Case Lake property as the fourth major cesium asset in the world, after the Tanco mine in Canada, the Bikita mine in Zimbabwe and the Sinclair mine in Australia. The MRE consists of 13,000 tonnes inferred mineral resource at 2.4% cesium oxide (Cs2O), with a cut-off grade of 0.1% Cs2O. Power Metals has noted the potential for additional tonnage growth at the Case Lake property, given that its MRE covers the West Joe Dyke. Power Metals highlighted additional exploration targets of 11,000-15,000 tonnes identified at the West Joe Dykes and 17 untested targets at the property. The MRE is based on 7,264 meters of drilling from 113 drill holes conducted in 2018, 2022, and 2024 highlighting the efficacy of its prior drill campaigns. The Case Lake property is one of several properties within the LRC portfolio that have the potential to generate revenue from deposits other than lithium. Other properties with cesium exposure within the portfolio include Grid Metals Corp.'s Donner Lake project in Manitoba and Winsome Resources' Sirmac-Clapier project in Québec. "The latest Power Metals mineral resource estimate underscores the substantial optionality embedded within our 35-royalty strong portfolio. While lithium is the core focus of our investment philosophy, several of our portfolio companies have multiple commodities on their property that are covered by our royalty agreements. The discovery at Case Lake uncovers additional value for both Power Metals and LRC shareholders, with the potential for additional revenue from the property as soon as next year," said Ernie Ortiz, President and CEO of LRC. "With the partial sale of our Tres Quebradas royalty, uncovering value from our cesium exposure, and additional assets that are expected to enter production in the near term, we are optimistic on the path forward for Lithium Royalty Corp." Cesium is a high-value, critical mineral with only two known current producers globally – the Tanco mine in Canada and the Bikita mine in Zimbabwe – and one prior producer at the Sinclair mine in Western Australia. Annual global cesium production is very limited. The Tanco mine in Canada is the only known source that is still processing cesium ore, and most projects around the world that are prospective for cesium remain in early exploration. This fragile and concentrated supply chain underscores the strategic significance of new cesium discoveries. Cesium applications include advanced electronics, energy, aerospace, and defense systems. Due to its scarcity and growing demand, cesium pricing has surged recently, with cesium carbonate prices trading at approximately US$118,000/tonne according to Shanghai Metals Market (SMM). Key Highlights Power Metals Case Lake Project: Power Metals released their maiden mineral resource estimate at the Case Lake property of 13,000 tonnes inferred mineral resource at 2.4% Cs2O with a cut-off grade of 0.1% Cs2O, making the property one of the largest cesium discoveries globally. LRC holds a 2.0% gross revenue royalty on all products extracted and sold from the Case Lake property. Other key highlights of the project: Simple Production Process: Power Metals has outlined a production process that minimizes complexity. Power Metals envisions a simple quarry-type operation, that involves extracting the ore, crushing, grinding, screening, and ore sorting, to produce a high-grade concentrate with cesium oxide values between 5-20%. Power Metals' proposed operation does not require any chemical processing and generates limited tailings. The tailings are also likely high value, as they potentially include tantalum and lithium ore. Swift Path to Production: Power Metals believes the project will be fast-tracked to production, with first production anticipated in 2026. Based on a simple production process, Power Metals would only require a provincial environmental permit, for which baseline studies were commenced in 2024. Additionally, the high-grade nature of the ore body and simple process allows for a project with low capital intensity. Strategic Location with Infrastructure Advantages: The project benefits from excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, including proximity to existing forestry roads, rail connections at Cochrane, and nearby powerlines. Its location enables efficient transport to major ports in Montreal, supporting future export to international markets. Positioned in a key North American mining hub, the project advances critical mineral security and is well-aligned with global demand trends. Cesium, the project's primary commodity, is designated a critical mineral by both the United States and Canadian governments, underscoring its strategic importance and scarcity. Other assets with cesium exposure in the LRC portfolio include: Winsome Resources' Sirmac-Clapier Project: Winsome announced that surface sampling at its Sirmac-Clapier project in Québec returned high-grade cesium results, including intercepts of up to 5.44% and 2.92% Cs₂O. Geochemical analysis confirmed that the mineralization is likely hosted in pollucite, a rare cesium-bearing mineral. The pegmatite system at Sirmac is highly fractionated, a key indicator of strong lithium and cesium potential, and supports the presence of extensive mineralizing systems. These findings significantly enhance the potential exploration upside across the broader project area and strengthen Winsome's strategy to delineate a new cesium resource within Canada's critical minerals corridor. LRC holds a 4.0% GOR royalty on all minerals at the Sirmac-Clapier project. Grid Metals Donner Lake Project: Grid Metals announced the completion of 28 diamond drill holes totaling 827 meters at the High-Grade Dyke on its 75%-owned Donner lithium-cesium property in southeastern Manitoba. The drill program was funded by Tantalum Mining Corporation of Canada Limited ("Tanco"), which operates the only cesium processing facility in North America. Under a toll milling agreement, Grid gains access to Tanco's established infrastructure, offering a path to cesium production with lower upfront capital requirements. Grid Metals is now preparing core samples for rare metal assays and mineralogical analysis, to confirm the presence of pollucite, Tanco's preferred feedstock. LRC holds a 2.0% GOR royalty on all minerals on the Donner Lake project. LRC's underwriting assumptions when acquiring its royalties (other than its Horse Creek silica royalty) have been based solely on the lithium potential of each project. The potential for these projects to uncover other minerals – including cesium – is not factored into those assumptions, representing hidden value for LRC shareholders. Cesium Market Overview Cesium is the heaviest stable alkali metal and deemed a critical mineral by the United States, Canada and several other countries. Similar to lithium, it has a unique set of characteristics due to its position on the periodic table. Cesium has excellent photoelectric properties, strong chemical activity and is a high-quality material for infrared technology applications. Its low ionization energy allows it to easily donate an electron, efficient for ion propulsion and photoelectric devices. High atomic mass and resonance frequency stability make it ideal for atomic clocks, making it an international standard. Its low melting point of 28.5°C is useful for heat transfer, high reactivity for energy transfer and non-corrosive, safe drilling fluid. Cesium primarily will come from pollucite ore, in the form cesium oxide. It is then refined down into several other forms for specific applications. The main forms of cesium are cesium formate and cesium fines – including cesium carbonate, cesium chloride and cesium nitrate. Historically, the largest demand has been for cesium formate, a drilling fluid used in high pressure and high temperature oil and gas exploration. The product is typically rented by oil and gas exploration clients. After completion of the well, the used brine is returned and reprocessed for subsequent drilling operations. It is estimated that 10,000 tonnes of cesium formate exist globally, with approximately 5% getting depleted and replaced annually. Cesium fines are a small but specialized market, with developing applications in energy, communication, medical and defense. Applications include: Defense: Night vision imaging, specialty glass Communication: 5G, fiber optic communication, ion cloud communication Emerging energy: novel energy generation including magneto-fluidic and thermo-ionic conversion Medical: medical imaging equipment, pharmaceutical production Aerospace: GPS satellite constellations and civilian and military navigation The market for cesium fines was estimated by USGS to be ~2,200 tonnes in 2024, with an additional 500 tonnes of demand from cesium formate replacement. According to USGS, no primary production of cesium exists, except small quantities in China. Existing stockpiles at former mine sites feed downstream refineries, though recent reports have indicated that stockpiles may be depleted within a few years. About Lithium Royalty Corp. LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Forward Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding LRC's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "potential for", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have "passive foreign investment company" ("PFIC") status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to LRC's most recent Annual Information Form dated March 17, 2025 and filed with the Canadian securities regulatory authorities on These risks and uncertainties include, but are not limited to, those described under "Risk Factors" in the Annual Information Form, and in particular risks summarized under the "Risks Related to Mining Operations" heading. View source version on Contacts Jonida ZaganjoriInvestor Relations(647) 792-1100jonida@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
3 days ago
- Business
- Cision Canada
MAIDEN MINERAL RESOURCE ESTIMATE CONFIRMS CASE LAKE AS THE WORLD'S FOURTH LARGEST CESIUM RESOURCE
The maiden Inferred Mineral Resource Estimate (MRE) of 13,000 tonnes grading 2.40% Cs₂O at the West Joe dykes within the Case Lake Cesium Project represents the world's fourth only hard-rock cesium resource¹ Additional exploration target of 11,000-15,000 tonnes of Cs₂O identified at the West Joe dykes 17 untested targets with pollucite-bearing pegmatite dykes, outside of the West Joe dykes and within the Case Lake Cesium Project, offer excellent potential to expand the resource profile The MRE covers just one of eight pollucite-bearing pegmatite dykes, based on 7,264 m of drilling from 113 drill holes conducted in 2018, 2022, and 2024 Excellent infrastructure access in the Timmins-Cochrane region of the Abitibi, with existing forestry trails, proximity to rail at Cochrane, powerlines, and major ports in Montreal for export to key markets The MRE establishes the Case Lake Cesium Project as a globally significant cesium source and will underpin its continued development Strategically located in North America, the project supports critical mineral security and aligns with growing global demand VANCOUVER, BC, June 5, 2025 /CNW/ - Power Metals Corp ("Power Metals" or the "Company") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce the maiden National Instrument 43-101 ("NI 43-101") compliant Mineral Resource Estimate ("MRE") for the Case Lake Cesium Project ("Case Lake"), located in northeastern Ontario. The consolidated in-pit MRE, reported in the Inferred category, comprises 13,000 tonnes grading 2.40% Cs₂O for 330 tonnes of Cs₂O concentrate. This MRE covers just one of eight pollucite-bearing pegmatite dykes within the Case Lake property (Figure 1), based on 7,264 m of drilling from 113 holes completed in 2018, 2022, and 2024. Additionally, an exploration target was produced by Snowden Optiro of 11,000-15,000 tonnes of Cs₂O has been identified at the West Joe dykes, and 17 untested targets including the 8 dykes across 21 km² highlight substantial potential for future resource expansion. ¹ Globally there has been 3 previous hard rock cesium mines with Tanco in Manitoba (Canada), Bikita in Zimbabwe (Africa), and Sinclair in Norseman (Western Australia). Operations commenced at Tanco in the 1950's and has been under Chinese ownership (Sinomine) since 2021. No MRE has been released on the TSX for the Tanco property. Bakita is a privately held property and linked to Sinomine, various reports based on lithium resources have been noted with no MRE relating to cesium oxide. Pioneer Resources produced an updated MRE for Sinclair in November 2018, and initial MRE on March 22, 2017. The announcement of Power Metals first NI 43-101 Mineral Resource Estimate for the Case Lake Cesium Project signals a significant milestone for the Company and Ontario in the development of critical minerals in Canada. With the estimated 13,000 tonnes at a grade of 2.40% Cs₂O based on only 7,264m of drilling, the Case Lake Project is the world's fourth hard-rock cesium deposit. The majority of the pollucite bearing pegmatites remain unconstrained and open to an exceptional potential of further growth as represented with the current exploration target at West Joe. Johnathan More, Chairman of Power Metals, added, I am very pleased to see the team deliver on our maiden Mineral Resource Estimate at Case Lake as we continue to develop this fast-tracked critical mineral project. Our ability to position Case Lake as the world's fourth only cesium resource from 7,264m of exploration drilling is incredibly rare, and further highlights the growth potential with the current exploration target and untested zones on the property. The Company currently is developing the Case Lake Cesium Project to be Ontario's first critical minerals project in production. To achieve this target, we engaged in the MRE at the infancy of exploration drilling to target cesium and look forward to the growth that remains in the property for the Company and the state of Ontario. Table 1 – Case Lake Cesium Project Deposit In-pit Mineral Resource Estimate Lithium and tantalite are currently being tested as part of the production of cesium oxide concentrate via the X-ray transmission (XRT) analysis completed as part of the Case Lake Cesium Project metallurgical program (see press release dated December 3, 2024, and April 14, 2025) provides confirmation of simple straightforward cesium oxide production that is suitable for the pollucite-bearing dykes included the maiden resource estimate. Lithium (spodumene) is undergoing a low-cost dense media separation ("DMS"), flotation circuit and magnetic separation analysis at present. Tantalite is concurrently under analysis via wet screen and magnetic separation to review the viability with Nagrom ("The Mineral Processors"), Perth, Australia. The lithium and tantalite test work results are expected in July of 2025. Table 2 – Case Lake Cesium Project Deposit Exploration Target The additional exploration targets defined at Case Lake have been generated from previous field campaigns based on geochemical analysis, rock chip sampling, soil sampling, exploration drilling, and structural interpretations with geophysics conducted between 2020-2024 by the Company. The potential quantity and grade are conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain whether further exploration will result in the target being delineated as a mineral resource. Case Lake Cesium Project Mineral Resource Estimate Notes: The Mineral Resource Estimate (MRE) was estimated by Susan Havlin, BSc (Hons), MAusIMM (CP) and reviewed by Dr Andrew Scogings MAIG (RPGEO industrial minerals) of Snowden Optiro, an independent Qualified Person as defined by NI 43-101. Susan Havlin conducted a site visit to Case Lakes in April 2025. The classification of the current MRE into Inferred mineral resources is consistent with current 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves. The effective date for the Mineral Resource estimate is May 30, 2025. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding. The mineral resource is presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered to have reasonable prospects for eventual economic extraction. Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The CLCP MRE is based on a validated database which includes data from 113 surface diamond drill holes totalling 7,264 m. The resource database totals 2,499 assay intervals representing 2,541 m of drilling. The average assay sample length is 1.02 m. The MRE is based on a three-dimensional ("3D") pegmatite resource model, constructed in Leapfrog, representing the West Joe pegmatite deposit. Cs₂O grades were estimated for each mineralization domain using 1.0 metre composites. To generate grade within the parent blocks, ordinary kriged (OK) interpolation method was used. The parent block size of 2 mX by 2 mY by 2 mZ with sub-blocking down to 0.5 m in each direction. Dynamic anisotropy was utilised to account for the undulating nature of the pegmatites. Three search passes were employed with an initial search distance half the variogram range, the second search was the range of the variogram, and the final search was double the variogram range. The first search pass had a minimum of eight samples and max of 12 samples, the second pass the minimum dropped to six and for the third search pass the minimum dropped to four samples. Average density values were calculated within the pegmatite with the formula density = 2.665 + (0.008793*Cs2O%) + (0.066436*Li2O%) and assigned in the waste domains based on a database of 1,072 samples. Power Metals envisions that the CLCP deposit may be mined using open-pit mining methods. Mineral resources are reported at a base case cut-off grade of 0.10% Cs₂O. The in-pit Mineral Resource grade blocks are quantified above the base case cut-off grades, above the constraining pit shell, below topography, and within the constraining mineralized domains (the constraining volumes). The results from the pit optimization are used solely for the purpose of testing the "reasonable prospects for economic extraction" by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. The exploration target at the CLCP was based on limited deep drilling completed in 2023 and 2024, the pegmatite and mineralization were extended at depth. The target range is conceptual in nature and was generated using assumptions based on the geological and grade continuity of mineralized pegmatites observed from shallow drilling up dip. The base-case Cs₂O Cut-off grade considers the following assumptions: a cesium concentrate (15-20% Cs₂O) price of US$35,000/t, a mining cost of US$7.30/t mined, processing, treatment, refining, G&A and transportation cost of USD$28.09/t of mineralized material, as were pit slope angles of 45° and mining loss and dilution of 5% and 5%. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Scientific and Technical Disclosure The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, 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 -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 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.
