10:55 AM EST, 02/10/2025 (MT Newswires) -- Power Metals ( PWRMF ) share price had jumped 14% and hit fresh 52 week highs at last look Monday as the company appointed DRA Global as study manager to conduct a maiden resource estimate and preliminary economic assessment for its Case Lake project in Ontario.

The company expects the resource estimate to be delivered in the first quarter, while the economic study is anticipated prior to the end of the second quarter.

Power Metals ( PWRMF ) said the Case Lake Project is "highly prospective" for cesium, tantalum and lithium, with more than 23,700 meters of drilling confirming high-grade mineralization across the asset.

"The appointment of DRA Global is another major milestone, enabling Power Metals ( PWRMF ) to advance the Case Lake Project towards delivery of a maiden mineral resource estimate," CEO Haydn Daxter said.

"The recent appointments of DRA Global and Canaccord Genuity bolsters our global expertise across project development, engineering, finance and strategy as we continue to develop Case Lake to meet the global demand for critical minerals," said Johnathan More, chairman and founder of Power Metals ( PWRMF ).

Price: 0.57, Change: +0.07, Percent Change: +14.00