VANCOUVER, BC, Oct. 12, 2021 /CNW/ - Power Metals
Corp. ("Power Metals" or the "Company")
(TSXV: PWM) (FRANKFURT: OAA1) (OTC: PWRMF) is pleased to announce
that Power Metals has decided to resume exploration on the Case
Lake Li-Cs-Ta Property. The Company's Strategic Review Committee
has determined it is in the best interest to all shareholders to
continue the next stage of exploration on our own. The Company has
received multiple partnership and "off-take" agreement proposals
from several groups, however we firmly believe it is too early to
award this at this current time. Power Metals has a strong belief
in the potential value of our 100% owned Case Lake Property and
favorable current market conditions in this sector presents a huge
opportunity.
Johnathan More, Chairman and
Director of Power Metals commented, "We have completed a
substantial amount of drilling at our Case Lake Property. Not
only do the mineralized structures lie at surface, they also
contain a trifecta of high-grade Cesium, Lithium, and Tantalum
mineralization. This rare occurrence will strongly add to the
economics and overall potential of this amazing asset."
Case Lake Li-Cs-Ta Property is a three-commodity property with
Lithium (Li), Cesium (Cs) and Tantalum (Ta) mineralization in the
form of spodumene, pollucite and Ta-oxide minerals. West Joe
pegmatite dyke is unique in that it is one of the few cesium-rich
pegmatites in the world. There are only three deposits that have
been globally mined for cesium: Tanco, Manitoba, Sinclair, Australia and Bikita, Zimbabwe, however the cesium supply has been
depleted in each of these deposits at a time when the global demand
for cesium is rising.
West Joe Dyke contains Cesium
(Cs) mineralization as shown by the presence of pollucite in drill
core and exceptionally high-grade Cs intervals:
- 14.70 % Cs2O over 1.0
m, 13.0 to 14.0 m,
PWM-18-126
- 12.40 % Cs2O over 1.0
m, 10.0 to 11.0 m,
PWM-18-112
- 6.74 % Cs2O over 5.0
m, 11.0 to 16.0 m,
PWM-18-126
Elevated Cs assays and pollucite has been previously identified
in drill hole PWM-18-49 in the first new dyke below Main Dyke:
- 2.00 % Cs2O over 2.0 m
interval, from 32.45 to 34.45 m
Elevated Cs assays has also been identified in drill hole
PWM-18-71 in the Northeast Dyke:
- 2.52 % Cs2O over 1.0 m
interval, from 25.0 to 26.0 m
Lithium (Li) and Tantalum (Ta) Assay highlights include:
- 1.09 % Li2O, 118 ppm Ta over 6.0 m, from
25.0 to 31.0 m, PWM-18-71, Northeast Dyke
- 1.42 % Li2O, 158 ppm Ta over 19.17 m, from
2.00 to 21.17 m, PWM-18-84, Main Dyke
- 1.17 % Li2O, 193 ppm Ta over 27.16 m, from
54.84 to 82.00 m, PWM-18-84, Main Dyke
- 1.92 % Li2O over 1.05 m, from 68.62 to
69.67 m, PWM-18-85, new dykes between Main and South
Dykes
West Joe Dyke intersected
exceptionally high-grade lithium intervals:
- 3.88 % Li2O, 925 ppm Ta over 1.0 m, from
11.0 to 12.0 m, PWM-18-111
- 3.43 % Li2O, 264 ppm Ta over 1.05 m, from
7.63 to 8.07 m, PWM-18-111B
- 3.07 % Li2O, 611 ppm Ta, >10,000 ppm Cs over
1.0 m, from 46.68 to 47.67m,
PWM-18-116
- 3.88 % Li2O, 232.0 ppm Ta over 0.82 m,
from 42.18 to 43.00 m, PWM-18-124
- 3.20 % Li2O, 468.93 ppm Ta over 2.10 m,
from 26.60 to 28.70 m, PWM-18-123
- 2.85 % Li2O, 207.0 ppm Ta over 0.30 m,
from 20.20 to 20.50 m, PWM-18-123
Power Metals' exploration model was first described in PWM's
press release dated Nov. 6, 2017. The
Li-Cs-Ta pegmatites at Case Lake are hosted by biotite tonalite
domes (laccoliths) within the Case Lake Batholith (Figure 1). The
domes are shaped like water drops on a table. The dome shape was
confirmed by the 2017 drill program. Main, North, East, South and
Northeast spodumene pegmatite dykes are exposed on surface and are
hosted by the Henry Dome (also known as Dome 8). The West Joe
Li-Cs-Ta pegmatite dyke is exposed on surface and is hosted by Dome
10. Case Lake Property had 9 identified domes plus the new dome for
West Joe. The 2020 staking added 4 more granitic domes to the Case
Lake Property. Each of the domes have the potential to host
Li-Cs-Ta pegmatites.
Power Metals will be planning its 2021-2022 exploration program
at Case Lake over the next couple of weeks.
Quality Control
The drill core was sampled so that 1
m of the Case Batholith tonalite host rock was sampled
followed by 1 m long samples of the
pegmatite dyke and 1 m of the Case
Batholith. The sampling followed lithology boundaries so that only
one lithology unit is within a sample, except for the < 20 cm
pegmatite veins in tonalite which were merged into one sample. The
drill core samples were delivered to SGS preparation lab in
Cochrane by Power Metals'
geologists. The core was then shipped to SGS analytical lab in
Lakefield, Ontario which has ISO
17025 certification. Every 20 samples included one external quartz
blank, one external lithium standard and one core duplicate. The
ore grade Li2O% was prepared by sodium peroxide fusion
with analysis by ICP-OES with a detection limit of 0.002 %
Li2O. A QA/QC review of the standards and blanks for
this drill program indicate that they passed and the drill core
assays are accurate and not contaminated.
Case Lake
Case Lake Property is located in Steele and Case townships, 80
km east of Cochrane, NE Ontario close to the Ontario-Quebec border. The Property is 10 km x 9.5 km
in size with 14 identified tonalite domes. The Case Lake pegmatite
swarm consists of six spodumene dykes: North, Main, South, East and
Northeast Dykes on the Henry Dome and the West Joe Dyke on a new
tonalite dome. Case Lake Property consists of 556 cell claims in
Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake
Mining Division. The Case Lake Property is owned 100% by Power
Metals Corp.
Qualified Person
Julie Selway, Ph.D., P.Geo.
supervised the preparation of the scientific and technical
disclosure in this news release. Dr. Selway is the VP of
Exploration for Power Metals and the Qualified Person ("QP") as
defined by National Instrument 43-101. Dr. Selway is supervising
the exploration program at Case Lake. Dr. Selway completed a Ph.D.
on granitic pegmatites in 1999 and worked for 3 years as a
pegmatite geoscientist for the Ontario Geological Survey. Dr.
Selway also has twenty-three scientific journal articles on
pegmatites. A National Instrument 43-101 report has been prepared
on Case Lake Property and filed on July 18,
2017.
About Power Metals Corp.
Power Metals Corp. is a diversified Canadian mining company with
a mandate to explore, develop and acquire high quality mining
projects. We are committed to building an arsenal of projects
in both lithium and high-growth specialty metals and minerals. We
see an unprecedented opportunity to supply the tremendous growth of
the lithium battery and clean-technology industries. Learn
more at www.powermetalscorp.com
ON BEHALF OF THE BOARD,
Johnathan More, Chairman &
Director
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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
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involve known and unknown risks, uncertainties and other factors
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Although such statements are based on management's reasonable
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Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
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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
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within the meaning of Section 27A of the Securities Act of 1933, as
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amended and such forward-looking statements are made pursuant to
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SOURCE POWER METALS CORP