Power Metallic puts Lion at centre of Nisk economic study

The high-grade Lion deposit will take centre stage in Power Metallic Mines’ first economic assessment of two deposits at its Nisk Project in Québec, while the contribution of Nisk Main remains undecided. According to Mining Technology, the company has hired BBA to lead the work, with ongoing tests of how the ore can be processed helping determine Nisk Main’s role.

The preliminary economic assessment, or PEA, is an early study of how a mining project could be developed and whether its initial economics support that case. Mobilisation is planned for late September, substantive engineering is due to begin in October, and completion is expected in the first half of 2027. The assessment and related environmental and community work will draw on the company’s existing resources.

Building the development case

BBA’s assignment covers mining and processing choices, the infrastructure needed to support them, and estimates of both construction and operating costs. Its economic analysis will use a mineral resource estimate dated 8 September 2026—a calculation of the mineral material in the deposits. The task is to turn that geological base into an initial development case, rather than a completed feasibility study.

Power Metallic’s operations vice-president, Christopher Beal, said the immediate task was to establish the design framework so the wider engineering work could move ahead efficiently. He said the PEA would set out an initial development approach grounded in technical work, establish its capital and operating needs, and identify the further work required before subsequent feasibility studies, which would examine the project in greater detail.

Beal said the priority was to settle the design framework before advancing the wider engineering work.

GeoVector Management will continue to play a key geological role. Independent qualified specialists from SGS Canada will oversee the geology, mineral resources and metallurgy—the study of how to recover metals from ore—for the technical report. Exploration will also continue alongside the assessment, including more drilling in the Lion Deeps area and work arising from the Muon study.

Environmental and community work runs alongside engineering

The environmental baseline programme, which records conditions before development, began in January 2026 and is still under way. Its first field season is scheduled to finish in October 2026, followed by a second round in summer 2027. Nemaska Resources is leading that programme with support from Groupe Synergis, which has been part of BBA since May 2025.

Power Metallic has also engaged ethos stratégie, based in Rouyn-Noranda, to support community outreach. Its remit includes identifying stakeholders, building relationships with local communities and authorities, and shaping strategies that account for community interests and traditional knowledge. That work accompanies the technical assessment rather than waiting for its completion.

The study follows an expansion agreement announced in June 2025, when Power Metallic agreed to acquire a 100% interest in 313 mineral claims covering 167 square kilometres from Li-FT Power. Next to watch are the start of engineering, the processing studies that will help define Nisk Main’s place in the development case, and the PEA’s expected completion in the first half of 2027.