Power Americas Acquires Historic Thomas Edison Cobalt Mine
Power Americas Acquires Historic Thomas Edison
Cobalt Mine
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2018) -
Power Americas Minerals Corp.
(TSXV: PAM) (
"
Power
Americas
"
or
the "
Company
") is pleased to announce it has signed an agreement to purchase the historic Thomas Edison
mine located in the heart of the Kittson-Cobalt project. The mine lies on the same fracture system that hosts the historic Shakt-
Davis mine located ~1 km to the east. The Thomas Edison property, consists of one 16 hectare patented claim with both surface
and mineral rights. Power America's 100% owned Kittson Project now consists of 216 unpatented claims and 1 patented claim
totaling 4,440 hectares.
Jeffrey Cocks, President and CEO said: "
The Thomas Edison Mine is a landmark acquisition for the Company. Over 100
years ago the famous inventor and entrepreneur, Thomas Edison, developed this mine as a source of cobalt for his
groundbreaking iron-cobalt batteries. Today, cobalt is once again in demand for the green energy revolution using lithium-
cobalt batteries. The Thomas Edison mine has not been explored since 1907 and will be the central focus of this summer's
exploration program."
The Thomas Edison mine, as the name implies, was developed by the famous inventor and entrepreneur Thomas Edison. While
Edison is better known for inventions such as the first practical light bulb, he was also very involved in the mining industry. Edison
pioneered new geophysical techniques, mineral extraction technologies, and developed the battery powered miners' head lamp.
He was instrumental in the discovery of nickel at Falconbridge, Ontario and also had interests in iron ore in New Jersey, and
gold in New Mexico. Edison was heavily involved with the original Cobalt, Ontario silver rush, however it was not the silver he
was after. At the turn of the 20
th
century, Edison was developing a new cobalt-Iron battery (US patent No. US678722A). Similar
to today, Edison had difficulty sourcing sufficient supplies of cobalt. In order to keep the price down, Edison sent undercover
representatives to Cobalt, Ontario to buy cobalt bearing minerals, which were produced as a by-products from silver mining in
the area, for his battery manufacturing facility in New Jersey. He also used these representatives to attempt to buy high-grade
cobalt silver mines and prospects. Eventually Edison acquired the Darby property (now the Thomas Edison Mine) in 1905. From
1905 to 1907 Edison remotely directed operations at the mine which included sinking two shafts to 150 feet, which were
connected by an adit, as well as several exploration drifts and crosscuts. Between 6 and 8 tons of ore of unknown grade are
reported to have been extracted, but no commercial production is recorded. Edison's correspondence with his agent in Cobalt
who was later his mine manager has been preserved and makes for a fascinating read. It has been well summarized in "TIMES
WERE HARD BUT MEMORIES ARE GOOD" Proceeding of the history workshop, Timiskaming Abitibi Heritage Association,
April 27, 1996, which is available from Rosanne Fisher Publishing in Haileybury, Ontario.
The transaction is expected to close within 30 days.
Planning is currently underway on Power Americas' summer exploration program, which will include follow-up drilling on the
property, as well as reconnaissance mapping, prospecting, geophysical surveys and soil sampling on the newly-acquired claims
extending to the southwest (see PAM news release: 12-18-2017). Additional results from the Company's recent drill program will
be released as they become available.
About the Kittson-Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Thomas Edison,
Shakt-Davis and Cobalt-Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over
2,700 feet of lateral workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted in brittle shears
in Nipissing diabase. This style of mineralization is similar to that of the famous Cobalt Silver Camp Located ~15 km east of the
Property, which produced 420 million ounces of silver with cobalt as a significant by-product. Veins hosting the mineralization at
the Kittson-Cobalt Project differ from the typical Cobalt Silver Camp veins in that they are lower in silver but richer in cobalt, and
are associated with significant gold. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres
and select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extend lead,
zinc and bismuth also occur within the quartz-carbonate veins.
About Power Americas Mineral Corp.
Power Americas Minerals Corporation is a Canadian-based junior mining exploration company focused on the procurement,
exploration and development of cobalt, lithium and other energy metals in North and South America. Power Americas'
acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven
geological potential. The Company's shares are listed and posted for trading on the TSX Venture Exchange under the symbol
"PAM", in the USA on the OTC Markets under the symbol "PWMRF", and on the Frankfurt Exchange under the symbol "VV0".
The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., Vice President of
Exploration and a director of the Company, and a qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
"Jeffrey Cocks"
Jeffrey Cocks
President
For more information please contact:
Howard Milne V.P. Business Development
Tel: (604) 377-8994
Email:
Website:
www.poweramericascorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.