HIGH-GRADE CESIUM RESULTS CONTINUE IN LATEST DRILLING PHASE Major Highlights High-Grade Cesium, Lithium, and Tantalum discoveries at flagship Case Lake Project Significant mineralization in drill holes discovered at shallow intercepts of 3.9 meters at
HIGH-GRADE CESIUM RESULTS CONTINUE
IN LATEST DRILLING PHASE
Major Highlights
High-Grade Cesium, Lithium, and Tantalum discoveries at flagship Case Lake Project
Significant mineralization in drill holes discovered at shallow intercepts of 3.9 meters at
reaching up to 12.72% Cesium oxide (Cs
O) concentrations
Strategic Phase III drilling program to commence in Q4 2024
Successful site visit conducted with strategic partner Winsome Resources
VANCOUVER, BC
,
Oct. 31, 2024
/PRNewswire/ --
Power Metals Corp ("Power Metals" or the
"Company") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF)
is pleased to
report significant progress in its 2024 Phase II drill program at the Company's 100%-owned Case
Lake Project (CLP) in northeastern
Ontario
.
Recent results indicate continued high-grade mineralization of cesium, lithium, and tantalum,
underscoring the project's strong exploration potential. The latest assay results from our targeted
drilling at the West Joe Zone confirm additional high-grade cesium oxide (Cs
O) mineralization,
reaching up to
12.72%
in shallow intercepts.
These results underscore the robust potential of the CLP as a high-grade, multi-element resource.
The success of the Phase II program is highlighted by notable intercepts, including:
Hole PWM-24-210: 3.20 meters averaging 5.06% Cs
O in a pollucite-rich zone
Hole PWM-24-211: 3.90 meters averaging 7.83% Cs
O
Hole PWM-24-212: 4.00 meters averaging 7.70% Cs
O
(Figure 1-4)
These strong results reinforce the Case Lake Project's potential as a strategic source of cesium and
other critical elements essential to high-tech industries. The analytical results from drilling at the CLP
continues to display significant mineralization at West Joe with the following highlights:
WEST JOE HIGHLIGHTS:
PWM-24-210:
9.09m
at 0.98% Li
2
O, 2.25% Cs
O and 367 ppm Ta from
11.78m
Including
3.2m
@ 1.39 % Li
2
O, 5.06% Cs
O and 634 ppm Ta from
13.80m
Including
1.0m
@ 2.42 % Li
2
O, 8.78% Cs
O and 426 ppm Ta from
16.00m
PWM-24-211:
7.90m
@ 1.50% Li
2
O, 4.05% Cs
O and 423 ppm Ta from
19.20m
Including
3.9m
@ 1.43% Li
2
O, 7.83% Cs
O and 410 ppm Ta from
20.07m
Including
1.0m
@ 0.59% Li
2
O, 12.72% Cs
O and 521 ppm Ta from
22.00m
PWM-24-212:
7.63m
at 0.75% Li
2
O, 4.09% Cs
O and 249 ppm Ta from
25.50m
Including
4.0m
@ 1.01 % Li
2
O, 7.70% Cs
O and 321 ppm Ta from
28.00m
Including
2.0m
@ 1.08% Li
2
O, 10.88% Cs
O and 371.5 ppm Ta from
29.00m
Haydn Daxter, Power Metals CEO commented: "We're extremely pleased by the momentum
generated from our Phase II drilling program, which continues to validate the world-class potential
of the Case Lake Project,"
"These impressive results reinforce our confidence in this resource, and we eagerly anticipate
further findings in the weeks ahead as we transition into Phase III drilling to close out our extensive
2024 exploration program."
"It was also a privilege to conduct an on-site review with
Chris Evans
, a valued partner and key
member of our Cesium Advisory Committee and Managing Director of Winsome Resources, to
assess this exciting project firsthand and discuss technical insights," said Haydn Daxter, CEO of
Power Metals.
Johnathan More
, Chairman of Power Metals, added, "Power Metals is breaking new ground with
our high-grade cesium discoveries at Case Lake, a project that continues to exceed our
expectations. As we advance into the next phase of development, we are setting the stage for a
promising year ahead and a strengthened position in the specialty metals market."
Figure 1 – Plan View Map of Phase II Drilling Collars displaying results as highlighted in this
announcement (CNW Group/Power Metals Corp.)
Drilling produced strong pollucite, spodumene, and tantalum mineralization in PWM-24-210, 211,
212, and 218 with successful intersections of consistent high-grade lithium, cesium, and tantalum
(LCT) mineralization. These intercepts confirm the continuation of the West Joe mineralization trend
both up and down dip of previously reported drillholes PWM-18-126, 22-147, and 24-171 (Figures 2-
4). Drillholes PWM-210, 211, and 212 reported
2.25 to 4.09 % Cs
2
O, 0.75 to 1.5 % Li
2
O, and 249
to 367 ppm Ta
in 7.63 to 9.10 meters thick pegmatites. The rich core of the mineralization in PWM-
24-210, 211, & 212 is characterized by a 3.2 to 4.0 meters thick high-grade zone that on average
contains
6.86%
Cs
2
O,
1.27% Li
2
O, and 455 ppm Ta
.
Drillhole PWM-24-218 intersected two separate pegmatite intervals that contain
0.62% Li
2
O and
257 ppm Ta
over 4.05 meters (zone 1) along with
1.35% Li
2
O and 350 ppm Ta
over 5.35 meters
(zone 2) respectively. The core of the pegmatite mineralization in the second interval contains
anomalous cesium, lithium, and tantalum mineralization of
0.68% Cs
2
O, 1.70% Li
2
O and 401 ppm
Ta
across the 1.7 meter interval, indicating continuation of a highly fractionated zone containing
cesium mineralization at depth.
Drill core from PWM-24-214 displays a 6.9 meters thick pegmatite interval that contains tantalum
mineralization of
283 ppm
Ta
with low-grade lithium and cesium. In addition to high-grade cesium
mineralization in pollucite at West Joe, the apparent tantalum-only nature of the mineralization in
PWM-24-214 is an indication of the extreme level of fractionation and have been identified in
pegmatites close to and within Main Zone across the CLP.
Figure 2 – Cross Section Map of PWM-24-210 from Phase II Drilling at West Joe (CNW
Group/Power Metals Corp.)
Figure 3 – Cross Section Map of PWM-24-211 from Phase II Drilling at West Joe (CNW
Group/Power Metals Corp.)
Figure 4 – Cross Section Map of PWM-24-212 from Phase II Drilling at West Joe (CNW
Group/Power Metals Corp.)
DRILLING
The Company is due to commence its 2024 Phase III drilling program in mid-November to further
add value to the exploration work to date during 2024 at the CLP. We anticipate that drilling will run
through to the end of the year with the continued delineation of cesium at West Joe and Main Zone.
The Company expects to announce its drill contractor and rig mobilization in the coming weeks. The
Company eagerly awaits additional assay results from the lab from our 2024 Phase II drilling in the
coming weeks.
WINSOME SITE VISIT
The Company recently conducted a site visit with two members of its Cesium Advisory Committee
(Haydn Daxter, CEO and
Chris Evans
, Director of Power Metals and Managing Director of Winsome
Resources ASX: WR1). The visit was based on a review of all drilling to date at West Joe and Main
Zone in targeting high-grade cesium. The review also included a technical overview of the project
prior to commencing initial planning for the studies due to commence towards the end of 2024 and
into 2025.
Figure 5 – Power Metals CEO Haydn Daxter (right) on site with Winsome MD and Power Metals
Director Chris Evans (left) (CNW Group/Power Metals Corp.)
Table 1 – Drill Collar Table (Bold Hole ID's reported in the announcement)
Hole ID
Easting
Northing
Elevation
Hole
Depth
(m)
Dip
Azimuth
NAD83
From (m)
To (m)
Significant Intersections
NAD83
NAD83
MASL
Interval (m)
Cs
2
O (%)
Li
2
O %
Ta (ppm)
West Joe
PWM-24-
207
576312
5431119
344
71
-45
170
16.35
25.00
8.65
5.74
1.60
378
including 3.0m @ 15.86% Cs
2
O, 1.67% Li
2
O, & 119 ppm Ta from 18.35m
including 1.0m @ 22.58% Cs
2
O, 1.72% Li
2
O, & 130 ppm Ta from 18.35m
PWM-24-
208
576306
5431120
344
71
-45
170
16.38
23.40
7.02
1.77
1.25
355
including 3.0m @ 3.98 % Cs
2
O, 0.7 % Li
2
O, & 457 ppm Ta from 19.0m
PWM-24-
209
576308
5431125
344
71
-45
170
20.07
25.78
5.71
1.42
1.19
287
including 2.5m @ 3.18 % Cs
2
O, 1.37 % Li
2
O, & 456 ppm Ta from 22.5m
PWM-24-
210
576301
5431115
344
71
-45
170
11.78
20.87
9.09
2.25
0.98
367
including
3.2m @ 5.06% Cs
2
O, 1.39% Li
2
O, & 634 ppm Ta
from 13.80m
including
1.0m @ 8.78% Cs
2
O, 2.42% Li
2
O, & 426 ppm Ta
from 16.00m
PWM-24-
211
576319
5431122
350
74
-45
170
19.20
27.10
7.90
4.05
1.50
423
including
3.9m @ 7.83% Cs
O, 1.43% Li
2
O, and 410 ppm Ta
from 20.07m
including
1.0m @ 12.72% Cs
O, 0.59% Li
2
O, and 521 ppm Ta
from 22.00m
PWM-24-
212
576325
5431128
349
71
-45
170
25.50
33.13
7.63
4.09
0.75
249
including
4.0m @ 7.70% Cs
O, 1.01 % Li
2
O, and 321 ppm Ta
from 28.00m
including
2.0m @ 10.88% Cs
O, 1.08% Li
2
O, and 372 ppm Ta
from 29.00m
PWM-24-
213
576329
5431124
348
90
-45
170
24.30
31.75
7.45
0.14
1.60
360
including
5.9m @ 0.17%
Cs
O,
2.00%
Li
2
O
and 392 ppm Ta
from 24.30m
PWM-24-
214
576285
5431136
348
90
-45
170
34.85
41.75
6.90
0.11
0.12
283
PWM-24-
215
576277
5431130
349
81
-45
170
awaiting assay results
PWM-24-
216
576273
5431160
345
72
-45
170
awaiting assay results
PWM-24-
217
576316
5431115
350
71
-45
170
awaiting assay results
PWM-24-
218
576316
5431143
345
83
-51
170
31.00
35.05
4.05
0.12
0.62
257
including
2.8m @ 0.16%
Cs
O,
0.89%
Li
2
O
, and 235 ppm Ta
from 31.00m
46.95
52.3
5.35
0.26
1.35
350
including
1.7m @ 0.68%
Cs
O,
1.70%
Li
2
O
, and 401 ppm Ta
from 31.00m
PWM-24-
219
576339
5431161
339
81
-45
170
awaiting assay results
PWM-24-
220
576337
5431124
344
62
-45
170
awaiting assay results
PWM-24-
221
576321
5431116
349
71
-45
170
awaiting assay results
PWM-24-222
*
576302
5431120
345
30
-45
170
awaiting assay results
PWM-24-223
*
576316
5431114
346
30
-45
170
awaiting assay results
PWM-24-224*
576309
5431125
344
30
-45
170
awaiting assay results
PWM-24-225*
576311
5431106
34
30
-56
170
awaiting assay results
PWM-24-
226
576440
5431204
338
199
-45
170
awaiting assay results
PWM-24-227*
576317
5431115
345
30
-45
170
awaiting assay results
PWM-24-
228
576502
5431365
342
252
-45
170
awaiting assay results
PWM-24-
229
576617
5431200
341
252
-45
170
awaiting assay results
Main Zone
PWM-24-
230
578217
5431598
353
122
-45
147
awaiting assay results
PWM-24-
231
578283
5431651
350
111
-45
147
awaiting assay results
PWM-24-
232
578305
5431659
347
71
-50
147
awaiting assay results
PWM-24-
233
578329
5431716
344
150
-45
150
awaiting assay results
PWM-24-
234
578145
5431515
352
111
-45
150
awaiting assay results
PWM-24-
235
578273
5431638
355
72
-45
147
awaiting assay results
* 2024 Phase II HQ holes for metallurgical testing
Sampling and QAQC Procedures
Samples were taken across every pegmatite and 1.5 meter into the barren host rock on either side
of dykes. Sample lengths were around 1-metre NQ (48 mm) and HQ (64 mm) core diameter, though
individual sample length was determined based on internal zoning of the dykes and the locations of
their contacts. The sampled core was cut in half with one half being sent for analysis and the other
half remaining in the box for reference. All core is stored at Power Metals core storage facility in
Cochrane, Ontario
. Each sample was put into its own plastic sample bag with a sample tag and
closed with zip ties. About 15% of the samples submitted SGS Canada ("SGS") for analysis were
QAQC samples that were inserted into the sample stream and consist of a high- and low-grade
lithium, Tantalum, and Cesium standards, blank material, and duplicates. Samples were dropped at
SGS Cochrane, in
Ontario
. Samples submitted to SGS were prepped, crushed, and pulverized in
Sudbury
and were subsequently sent to SGS Burnaby and SGS Lakefield for multi element analysis
using sodium peroxide fusion ICP-AES/ICP-MS and borate fusion XRF. All cesium results above 1%
were analyzed using 4-Acid digest AAS at SGS Lakefield.
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).
Figure 6 – Power Metals Corp Project Locations Map in Ontario and Quebec Canada (CNW
Group/Power Metals Corp.)
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)
(Al
Si
O
)•2H
O, (
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
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 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 discussed in the Company's disclosure documents
which can be found 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.
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CNW 08:00e 31-OCT-24