Major Highlights
- First Nation company, Black Diamond Drilling, mobilizes
drill rig to Case Lake
- Drilling set to commence with 2,000 meters of diamond
drilling
- Overlimit samples to be reported from Phase II
drilling
VANCOUVER, BC, Nov. 13,
2024 /CNW/ - Power Metals Corp ("Power Metals" or the
"Company") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB:
PWRMF) is pleased to announce that it has mobilized a diamond
drill rig from Black Diamond Drilling to commence its 2024 Phase
III drill program (the "Program") at its 100% owned Case Lake
Property (the "Property") in northeastern Ontario (Figure 1). The Company anticipates
completing a total of 2,000 meters of exploration drilling to
target high-grade cesium in pollucite, tantalum and lithium at West
Joe and Main Zone.
The Company recently intercepted several high-grade cesium and
tantalum assay results from Phase I (reported June 18, 2024) and is currently reporting Phase
II results over the next 4 weeks. Several overlimit samples have
been recorded at SGS with the current Phase II assay results and
are expected to be finalised this month.
Johnathan More, Chairman
and Founder of Power Metals commented:
"We are still waiting on several assay results from our
completed Phase II drill program. It has been confirmed by the lab
(SGS) that they are overlimit samples, meaning these high-grade
cesium assays must be retested to confirm. This has created a
delay, however it gives us full confidence to restart the drill rig
and commence Phase III drilling."
Haydn Daxter, Power Metals CEO
commented:
"The Company is extremely pleased to see the Black Diamond drill rig has arrived on site
for our 2024 Phase III Program at Case Lake. We anticipate drilling
to commence within the coming days and to have the program
completed by mid-December. Phase III will add additional confidence
to West Joe Project further to our recently reported high-grade
results to date from Phase II."
Case Lake Property
The Case Lake Property is located 80 km east of Cochrane, northeastern Ontario close to the Ontario - Quebec border. The Property consists of 585
cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake
Mining Division. The Property is 10km by 9.5km in size with 14
granitic domes. The Case Lake pegmatite swarm consists of six
spodumene dykes known as the North, Main, South, East and Northeast
dykes on the Henry Dome, and the West Joe dyke on a new dome,
collectively forming mineralization trend that extends for
approximately 10km (Figure 4).
Power Metals have completed several exploration campaigns that
have led to the discovery and expansion of new and historic
spodumene bearing LCT pegmatites at Case Lake. The Company has
drilled a total of 22,231 meters of core between 2017 and 2024 at
the Property. The Case Lake Property is owned 100% by Power Metals
Corp. A National Instrument 43-101 Technical Report has been
prepared on Case Lake Property and filed on July 18, 2017 (Figure 2).
Pelletier Property
The Pelletier Property is located 50km south of Hearst, northeastern Ontario close to a network of forestry roads.
The Property consists of 337 mineral claims that account for a
total of 7000 hectares in Franz, Roche, Scholfield, and Talbot
townships in the Porcupine mining division. The Pelletier Project
is characterized by LCT prospective S-type pegmatitic granites
intruding into metasedimentary and amphibolite of the Quetico at or
near Archean terrane boundary between the Quetico and Wawa sub-provinces (Figure 2).
Decelles Property
The Decelles Property contains 669 claims, covering 38,404
hectares of LCT prospective ground near the mining centers of
Val-dÓr and Rouyn-Noranda,
approximately 600km from Montreal.
Power Metals acquired the Decelles and Mazerac properties from
Winsome Resources in 2023 in a deal that allowed Winsome to
increase its stake to 19.59% (Refer to press release announced on
August 24, 2023). The geology of
Decelles property is part of the Archean Pontiac sub-province where
S-type LCT prospective, pegmatite bearing, granitic Decelles
Batholith intrudes into metasedimentary units of the Pontiac Group.
Spodumene and Beryl bearing pegmatites have been reported
historically within the Pontiac
sub-province in association with S-type garnet-muscovite granite.
The Decelles property is adjacent to Vision Lithium's Cadillac
property where discovery of high-grade lithium pegmatites was
reported in 2022 (Figure 2).
Mazerac Property
The Mazerac Property is located approximately 30 km east of
Power Metals' Decelles property near well-established mining camps
in the Abitibi region of Canada
and is accessible by network of mining-grade forestry roads. The
Mazerac property contains 259 claims that cover 14,700 hectares of
LCT prospective ground near the mining center of Val-dÓr and
Rouyn-Noranda. The regional
geology of Mazerac is similar to Decelles where S-type LCT
prospective, pegmatite bearing, granites of Decelles Batholith
intrude into metasedimentary units of the Pontiac Group. Spodumene
and Beryl bearing pegmatites have been reported historically within
the Pontiac sub-province in
association with S-type garnet-muscovite granite (Figure 2).
Pollucite and Cesium
Pollucite is a rare mineral that hosts high grade cesium and is
associated with highly fractionated, rare element pegmatites. The
main source of cesium known globally is pollucite
(Cs,Na)₂(Al₂Si₄O₁₂)•2H₂O,
(https://www.gov.mb.ca/iem/geo/industrial/pollucite.html).
Currently the Tanco mine in Manitoba,
Canada is the only operating cesium deposit and holds over
60% of the known reserves globally.
Scientific and Technical Disclosure
The scientific and technical disclosure included in this news
release has been reviewed and approved by Amanuel Bein, P.Geo., Vice President of
Exploration for Power Metals, a Qualified Person under National
Instrument 43-101 Standards of Disclosure of Mineral Projects.
Power Metals
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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Metals assumes no responsibility to update or revise
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SOURCE Power Metals Corp.
