09:03 AM EST, 12/03/2024 (MT Newswires) -- Power Metals ( PWRMF ) reported Tuesday a high-grade concentrate from phase I of X-ray transmission ore sorting at the Case Lake project in Ontario.

The company said the result confirmed cesium concentrate of 19.97% cesium oxide. The concentrate is now undergoing conversion to cesium formate.

"The recent assay results from our phase I ore sorting test work confirm the production of a high-grade cesium concentrate for our world-class Case Lake project," said Johnathan More, Power Metals' ( PWRMF ) chairman and founder. "The outlook for the company over the coming months is very exciting with the results of this significant milestone to produce an economic cesium oxide at such a high grade."

Final 2024 Phase II drilling assay results from the project also continue to highlight the consistent level of high-grade mineralization in cesium, lithium, and tantalum. Results include 3.00 meters averaging 10.61% cesium oxide.

"Final results from our Phase II drilling continues to add confidence in the project's resource potential with work to commence on our Maiden Resources Estimate," More said. "We look forward to results from our 2024 Phase III drilling to strengthen the project's world-class potential in meeting the demand for critical minerals."

Power Metals' ( PWRMF ) share price rose 1.3% yesterday to $0.385 on the TSX Venture Exchange.