Case Lake Drilling Intersects 1.42% Li2O and 158 ppm Ta Over 19.17 m
Case Lake Drilling Intersects 1.42% Li2O and 158
ppm Ta Over 19.17 m
VANCOUVER
,
Aug. 21, 2018
/CNW/ -
Power Metals Corp.
("
Power Metals Corp.
" or the "
Company
") (TSX
VENTURE:PWM)(FRANKFURT:OAA1)(OTC:PWRMF) is pleased to announce assays from the first 8 drill holes on
the Company's current
15,000 m
drill program at its Case Lake Property, 80 km east of
Cochrane, Ontario
. Drill
hole PWM-18-84 intersected 1.42% Li
2
O and 158 ppm Ta over
19.17 m
on the Main Dyke. The same hole also
intersected 1.17% Li
2
O and 193 ppm Ta over
27.16 m
. These two high-grade spodumene pegmatite intervals are
separated by the quartz core. The purpose of this longitudinal drill hole was to test the continuity of the Main Dyke
along strike and down dip. PWM-18-84 intersected continuous pegmatite from 2.0 -
128.25 m
.
Assay highlights on the Main Dyke include (Table 1):
1.42 % Li
2
O and 158 ppm Ta over
19.17 m
, PWM-18-84
1.17 % Li
2
O and 193 ppm Ta over
27.16 m
, PWM-18-84
2.67 % Li
2
O over
0.42 m
, PWM-18-84
1.67 % Li
2
O and 157 ppm Ta over
10.20 m
, PWM-18-92
The summer 2018 drill program also targeted the new spodumene dykes between the Main and South Dykes that
were discovered at the end of the 2017 drill program (Power Metals press release dated
Nov. 27, 2017
). Four
separate spodumene pegmatite dykes were intersected in drill holes PWM-18-85, 86 and 87 in close proximity to
the Main Dyke. Thus, they will add to a future resource on the Main Dyke. The new dykes between the Main and
South Dykes are open along strike.
Assay highlights on the new dykes include (Table 1):
1.92 % Li
2
O over
1.05 m
, PWM-18-85
1.58 % Li
2
O over
0.67 m
, PWM-18-86
1.83 % Li
2
O over
0.97 m
, PWM-18-87
Table 1 Assay highlights for summer 2018 drill program, holes PWM-18-84 to 92, Case Lake.
Drill Hole No.
Including
From (m)
To (m)
Interval (m)
Li
2
O (%)
Ta (ppm)
Zone
PWM-18-84
2.00
21.17
19.17
1.42
158
Main Dyke
PWM-18-84
Including
10.00
14.00
4.00
1.90
242
Main Dyke
PWM-18-84
54.84
82.00
27.16
1.17
193
Main Dyke
PWM-18-84
Including
69.03
73.02
3.99
2.05
144
Main Dyke
PWM-18-84
Including
79.00
79.42
0.42
2.67
57
Main Dyke
PWM-18-85
17.39
18.40
1.01
0.84
70
New Dykes, Main-South
PWM-18-85
52.30
53.85
1.56
1.24
74
New Dykes, Main-South
PWM-18-85
68.62
69.67
1.05
1.92
42
New Dykes, Main-South
PWM-18-85
74.60
75.35
0.75
0.87
101
New Dykes, Main-South
PWM-18-86
40.21
44.53
4.32
0.79
103
New Dykes, Main-South
PWM-18-86
63.63
64.30
0.67
1.58
48
New Dykes, Main-South
PWM-18-87
30.43
31.40
0.97
1.83
80
New Dykes, Main-South
PWM-18-87
34.50
35.86
0.59
1.08
92
New Dykes, Main-South
PWM-18-92
12.80
23.00
10.20
1.67
157
Main Dyke
PWM-18-92
Including
20.00
22.00
2.00
2.26
248
Main Dyke
PWM-18-92
31.10
33.00
1.90
1.21
45
Main Dyke
Drill holes PWM-18-88 to 91 have no significant Li2O values.
This press release covers assays from drill holes PWM-18-84 to 92. Drilling is ongoing and assays from
subsequent holes from this drill program will be released as they are received. Power Metals is planning to
complete
15,000 m
of drilling in summer/fall 2018 on the Case Lake Property. Drill hole collar locations are given in
Table 2 and Figure 1.
Dr. Selway, VP of Exploration stated "Drill hole PWM-18-84 confirmed the continuity of the Main Dyke along strike
for a future resource estimate. At the end of 2017, we thought that there were two spodumene dykes between
Main and South Dykes. Our summer 2018 drill program has expanded the number of new dykes between Main
and South Dykes from two to four dykes. Given the close proximity of these new dykes to the Main Dyke, they
add to the future resource of the Main Dyke."
Figure 1 Summer 2018 drill hole collar locations on the Main Dykes and new dykes between Main and South Dykes.
Table 2 Summer 2018 drill program drill hole collars holes PWM-18-84 to 92, Main Dyke, Case Lake.
Drill Hole No.
Easting (m)
Northing (m)
Elevation (m)
Azimuth
Dip
Depth (m)
PWM-18-84
578240
5431662
354
300
-45
203
PWM-18-85
578238
5431633
353
120
-45
275
PWM-18-86
578238
5431631
353
150
-50
303
PWM-18-87
578237
5431609
354
120
-45
69
PWM-18-88
578218
5431509
353
150
-45
116
PWM-18-89
578132
5431540
350
150
-45
126
PWM-18-90
578224
5431711
345
110
-45
132
PWM-18-91
578180
5431608
352
150
-45
155
PWM-18-92
578155
5431644
349
150
-45
122
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 Li
2
O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a
detection limit of 0.002 % Li
2
O. 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 Case Lake pegmatite swarm consists of five spodumene dykes: North, Main, South,
East and Northeast Dykes on the Henry Dome. Power Metals has an 80% interest with its 20% working interest
partner MGX Minerals Inc.
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
Neither the 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 the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The
securities being offered have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the
United
States
, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities
Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does
not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
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
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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 discussed in the Company's disclosure
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www.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
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For further information:
Power Metals Corp., Johnathan More, 646-661-0409, [email protected]
CO: POWER METALS CORP
CNW 03:00e 21-AUG-18