Major Highlights
- Test work to produce tantalite and spodumene concentrate
begins in Australia
- Phase III Drilling and Phase II Magnetic Drone Survey
completed at exploration targets
- Environmental studies completed across Case Lake
Project
VANCOUVER, BC, Dec. 18,
2024 /CNW/ - Power Metals Corp ("Power Metals" or the
"Company") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is
pleased to announce hydrometallurgical test work has commenced on
concentrate samples from its 100%-owned Case Lake Project (CLP) in
northeastern Ontario.
Mineral processor Nagrom will conduct test work to produce
tantalite and spodumene concentrates from the Phase I metallurgical
test work with Tomra and SGS. The Company seeks to demonstrate
increased economic value from the multielement potential of the
project with the addition of high-grade tantalum and lithium.
The Company has also completed a total of 23 drill holes for
1,475 meters as part of its Phase III exploration drilling program
at West Joe. Results are expected in late January pending
laboratory schedules over the end of year period.
A low-level, high-resolution drone magnetic survey has also been
completed across the southern area of CLP, with a total of
1,450-line kilometers complete. An additional 121-line kilometers
were surveyed, as well as the planned 1,329-line kilometers.
The Company has also completed its December monitoring and data
analysis program across CLP, including water sampling and
hydrological flow meter analysis, completing the 2024 environmental
analysis schedule.
Haydn Daxter, CEO of Power Metals commented:
"We are extremely pleased to have engaged Nagrom to conduct
test work on tantalite and spodumene from our West Joe
Project.
Having access to a world-class test facility that has market
capture of more than 70% of the world's tantalum test work and a
world leader in lithium test work is very exciting for the
Company.
We have also finalized a very productive exploration year
with the completion of Phase III drilling, Phase II drone survey,
and environmental analysis programs.
We look forward to receiving results from this activity and
unlocking additional value for our shareholders with the
multielement potential from our Case Lake Project."
Johnathan More, Chairman
and Founder of Power Metals, added,
"The Company is incredibly pleased to commence with
Nagrom as we add further weight to the multielement potential and
economic value of our project to meet global demand for
critical minerals.
Case Lake has produced a trifecta of world-class results in
cesium, tantalum and lithium. The economics of Case Lake are robust
and we are eager to continue advancing this project.
The completion of our exploration programs round out an
incredible year for the Company that has laid a very strong base
for the year ahead."
MULTIELEMENT TEST WORK
Mineral processor Nagrom has been engaged to commence test work
on tantalite and spodumene from recently conducted samples produced
from a part of our Phase I test work with Tomra and SGS.
Nagrom will conduct tantalite beneficiation from West Joe which
includes crushing to ~1mm, sizing into discrete size fractions,
gravity and mag separation to liberate mineralization.
Nagrom will also test the West Joe spodumene with beneficiation
test work including crushing to liberation size, Dense Media
Separation (DMS) on the coarse stream and flotation on the fines
stream to produce a concentrate.
Haydn Daxter (Power Metals Corp, CEO & Cesium Advisory
Committee) and Dr. Nigel Brand
(Power Metals Corp, Cesium Advisory Committee) visited Nagrom's
operations in Perth, Australia to
review the current pilot plant and bench top test facilities prior
to the test work commencing (Figure 1).
PHASE III DRILLING
The Company has completed its Phase III drilling program at West
Joe with a total of 1,475 meters across 23 NQ diameter diamond
drill holes.
Currently, a total of 19 drill holes have been submitted to SGS
with the remining drill holes to be finalised in the coming week.
Assay results are anticipated to commence in late January of 2025
and continue into early February.
West Joe is one of only four world-class lithium-cesium-tantalum
pegmatite systems that has produced several high-grade cesium
intercepts up to 22.47% Cs₂O (Cesium Oxide), along with
high-grade tantalum up to 5328 ppm (as reported,
June 18 and November 19, 2024).
Drill holes PWM-24-250 to PWM-24-259 intersected 3% -15%
pollucite with 2% -20% spodumene, and 1% tantalite grains that are
up to 2mm in size within the drill core (Figures 2-3).
Mineralized pegmatites are between 5-8 meters thick in all drill
holes and commenced from a shallow 20 meters downhole depth from
surface.
Majority of the pegmatite intervals intersected displayed
textures of massive white through to translucent pollucite
mineralization associated with light purple altered spodumene
and/or potentially fine grained lepidolite mineralization.
All pegmatite intervals intersected coarse spodumene, and local
mm-scale tantalite grains and veinlets.
MAGNETIC DRONE SURVEY
The Phase II drone magnetic survey was completed on the
11th December by Pioneer Exploration across the southern
area of the CLP (Figure 4) with 1,450-line kilometres of survey
conducted.
The Company was unable to complete the northeastern corner of
the survey due to thick vegetation and no accessibility for the
drone team.
The final series of geophysical data is currently undergoing
QAQC in preparation to commence our updated structural model and
drill hole targeting across the recently submitted early
exploration permit.
ENVIRONMENTAL STUDIES
The Company has completed its December environmental monitoring
as the final environmental monitoring program for 2024 continued at
the CLP with Blue Heron Environmental.
The program involved surface hydrologic studies with hydrologic
monitoring loggers to capture stream flow and the collection of
surface water samples from six (6) stations across the project
(Figure 5).
About Nagrom
Nagrom the Mineral Processor ("Nagrom") is Australia's leading privately owned
metallurgical and assaying services provider, delivering highly
value-additive services to the Australian and international mining
industry for over 45 years.
Nagrom offers extensive capabilities in all aspects of
metallurgical testing and analysis through its two key business
segments with its metallurgy and analytical capabilities.
Nagrom is recognized as a world leader in Lithium testwork and
has a strong reputation across Tantalite and a range of other
commodities and services.
Nagrom is independent of the Company.
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 6).
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 6).
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 6).
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 6).
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 6).
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 Corp (TSX-V: PWM)
PWM 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 cesium, lithium,
and high-growth specialty metals and minerals. We see an
unprecedented opportunity to supply the tremendous growth of the
lithium battery and critical mineral industries across North America. Learn more at
www.powermetalscorp.com.
-ON BEHALF OF THE BOARD-
Johnathan More, Chairman &
Director
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Cautionary Note Regarding Forward-Looking Information
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 guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Although such
statements are based on management's reasonable assumptions, Power
Metals assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances
unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
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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under the Company's profile onwww.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The TSXV has neither reviewed nor approved the
contents of this press release.
SOURCE Power Metals Corp.
