PHASE III DRILLING DELIVERS UP TO 20.40% CESIUM OXIDE AND 5,262PPM TANTALUM AT CASE LAKE Major Highlights 2024 Phase III drilling results reinforces high-grade mineralization at Case Lake, with exceptional shallow concentrations
PHASE III DRILLING DELIVERS UP TO 20.40%
CESIUM OXIDE AND 5,262PPM TANTALUM AT
CASE LAKE
Major Highlights
2024 Phase III drilling results reinforces high-grade mineralization at Case Lake, with
exceptional shallow concentrations
Results included 20.40% cesium oxide (Cs
O) and up to 5,262ppm tantalum at West Joe
Further assay results from eleven drill holes are anticipated in the coming weeks
VANCOUVER, BC
,
Feb. 3, 2025
/CNW/ - Power Metals Corp ("Power Metals" or the "Company")
(TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce high-grade
results from the 2024 Phase III drill program at the 100%-owned Case Lake Project (CLP) in
northeastern
Ontario
.
Results revealed further shallow, high-grade cesium oxide (Cs
O) and tantalum mineralization at the
West Joe prospect, with exceptional intercepts reaching concentrations of up to
20.40% Cs
O
and
5,262ppm Ta
.
This series of assay results from Case Lake further quantify the project's resource development target
as the Company continues to build on this world-class deposit.
More than
8,000m
of exploration drilling was conducted in 2024, with results delivering consistent high-
grade, multi-element mineralization including the following highlights from West Joe:
PWM-24-236:
9.04m
at 6.49% Cs
O, 531 ppm Ta, and 1.68% Li
O from
12.22m
Including
4.65m
@ 12.33% Cs
O, 825ppm Ta, and 1.47% Li
O from
15.00m
Including
1.00m
@ 20.40% Cs2O, 121ppm Ta, and 0.88% Li
O from
16.00m
PWM-24-244:
8.15m
@ 4.48% Cs
O, 348 ppm Ta, and 1.52% Li
O from
10.90m
including
4.00m
@ 8.98% Cs
O, 345ppm Ta, and 1.70% Li
O from
13.00m
including
1.00m
@ 14.40% Cs
O, 323ppm Ta, and 1.43% Li
O from
16.00m
PWM-24-240:
6.55m
@ 4.48% Cs
O, 598 ppm Ta, and 1.42% Li
O from
14.25m
including
4.00m
@ 7.27% Cs
O, 630ppm Ta, and 1.37% Li
O from
16.00m
including
1.00m
@ 12.50% Cs
O, 302ppm Ta, and 0.83% Li
O from
17.00m
PWM-24-241:
8.00m
@ 3.83% Cs
O, 271 ppm Ta, and 1.89% Li
O from
9.90m
including
4.00m
@ 7.38% Cs
O, 300ppm Ta, and 1.59% Li
O from
13.00m
including
1.00m
@ 16.00% Cs
O, 58ppm Ta, and 0.68% Li
O from
13.00m
Haydn Daxter, CEO of Power Metals commented:
"The first round of assay results from our 2024 Phase III program continues to solidify Case Lake as
a world-class asset for critical minerals and we look forward to receiving the final assay results in
the coming weeks to complete our 2024 exploration programs.
Case Lake has consistently returned high-grade cesium, tantalum, and lithium results, further
reinforcing our confidence in the significance of this project.
We look forward to a very pivotal year ahead for the Company and its shareholders as we continue
to advance Case Lake to meet growing global demand for these critical minerals."
Johnathan More
, Chairman of Power Metals, added,
"The continued success from exploration drilling at Case Lake is evident by the high-grade cesium
and tantalum results produced in the first round of assays from our 2024 Phase III program.
Case Lake has proven throughout 2024 to be a world-class project, producing consistent high-grade
critical minerals. We have seen a transformational year for the project and 2025 will see us advance
exploration, resource, and economic studies as we target production at Case Lake."
Figure 1– Plan View Map of Phase III Drilling Collars displaying results as highlighted in this
announcement (CNW Group/Power Metals Corp.)
2024 PHASE III DRILLING
The Company drilled a total of
1,475m
across 23 diamond drill holes during the Phase III exploration
program at Case Lake in late 2024, completed in conjunction with Black Diamond Drilling.
The purpose of this campaign was to delineate and extend cesium mineralized zones at the West Joe
prospect.
Assay results from 12 drillholes confirmed near-surface high-grade cesium, tantalum, and lithium
mineralization, consistent with
pollucite (5-25%)
,
tantalite (0.1-1%)
, and
spodumene (2-20%)
mineralization.
Strong LCT mineralization was intersected in well-developed pegmatites including:
Hole PWM-24-236:
9.04m
averaging 6.49% Cs
O in a pollucite-rich zone
Hole PWM-24-244:
8.15m
averaging 4.48% Cs
O
Hole PWM-24-240:
6.55m
averaging 4.48% Cs
O
Hole PWM-24-241:
8.00m
averaging 3.83% Cs
O
(refer to Figure 1-4 for further details)
The core of mineralization in these holes is characterized by high-grade zones from
1.5m
to
4.65m
wide, containing an average of
6.15% Cs
O
,
673 ppm Ta
, and
1.65% Li
O
.
The drill core from these intersections displays a high level of fractionation with pollucite mineralization
of
7.02% to 20.40% Cs
O
in multiple individual samples.
In addition to strong cesium mineralization, most of the drillholes intersected high-grade tantalum and
lithium mineralization with several individual samples reporting
503 ppm to 5,262 ppm tantalum
along
with
2.44% Li
O
to 5.31%
Li
O
mineralization, consistent with LCT mineralization in highly fractionated
pegmatite systems.
Drillholes PWM-24-236, PWM-24-240, and PWM-24-247 reported exceptionally high tantalum
intervals that grade between
1,081 ppm to 5,262 ppm tantalum
.
The tantalum rich zone in PWM-24-247 produced
8.2m
wide high-grade mineralization that averages
2.5% Cs
O, 1,377 ppm Ta, and 2.61% Li
O
.
High-grade lithium mineralization characterized by samples that assay between
3.49%
Li
O
and
5.31%
Li
O
are also reported in drillholes PWM-24-243, PWM-24-247, and PWM-24-253 (Figures 1-4).
Results from 11 remaining drill holes from Phase III are scheduled to be received in the coming weeks
to complete this program targeting high-grade, multi-element mineralization at West Joe.
Figure 2 – Cross Section Map of PWM-24-236 from Phase III Drilling at West Joe (CNW
Group/Power Metals Corp.)
Figure 3 – Cross Section Map of PWM-24-244 from Phase III Drilling at West Joe (CNW
Group/Power Metals Corp.)
Figure 4 – Cross Section Map of PWM-24-240 from Phase III Drilling at West Joe (CNW
Group/Power Metals Corp.)
Sampling and QAQC Procedures
Samples were taken across every pegmatite and
1.5m
into the barren host rock on either side of
dykes. Sample lengths were around 1-meter NQ (48 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 to 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.
Table 1 – Summary of Assay Results in Drillholes Reported in this Press Release (Hole ID in
bold text)
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
(%)
Ta
(ppm)
Li
2
O %
West Joe
PWM-
24-236
576307
5431113
346
54
-51
170
12.22
21.26
9.04
6.49
531
1.68
including
4.65m @ 12.33% Cs
2
O, 825ppm Ta, & 1.47% Li
2
O
from 15.00m
including
1.00m @20.40% Cs2O, 121ppm Ta, & 0.88% Li
O
from 16.00m
PWM-
24-237
576304
5431111
342
60
-45
165.2
11.15
18.80
7.65
1.56
278
1.10
including
3.00m @ 2.92% Cs
2
O, 400ppm Ta, & 0.66% Li
2
O
from 13.00m
PWM-
24-238
576301
5431115
338
60
-50
168.1
10.00
18.06
8.06
2.34
440
1.38
including
3.00m @ 5.84 % Cs
2
O, 530ppm Ta, & 0.70% Li
2
O
from 12.00m
including
1.00m @ 13.70% Cs
O, 428ppm Ta, & 0.73% Li
O
from 13.00m
PWM-
24-239
576301
5431113
345
60
-46.5
171.9
7.50
16.80
9.3
2.04
239
1.37
including
3.00m @ 5.80% Cs
2
O, 373ppm Ta, & 1.42% Li
2
O
from 9.00m
including
1.50m @ 9.59% Cs
O, 362ppm Ta, & 1.24% Li
O
from 10.50m
PWM-
24-240
576300
5431118
345
60
-45.2
170
14.25
20.80
6.55
4.48
598
1.42
including
4.00m @ 7.27% Cs
2
O, 630ppm Ta, & 1.37% Li
2
O
from 16.00m
including
1.00m @ 12.50% Cs
O, 302ppm Ta, & 0.83% Li
O
from 17.00m
PWM-
24-241
576309
5431110
346
60
-45
169
9.90
17.90
8.00
3.83
271
1.89
including
4.00m @ 7.38% Cs
2
O, 300ppm Ta, & 1.59% Li
2
O
from 13.00m
including
1.00m @ 16.00% Cs
O, 58ppm Ta, & 0.68% Li
O
from 13.00m
PWM-
24-242
576309
5431110
346
60
-53
158.5
awaiting final assay results
PWM-
24-243
576309
5431110
346
60
-62.5
151.5
11.75
20.80
9.05
2.74
525
2.41
including
3.75m @ 6.45% Cs
2
O, 672ppm Ta, & 2.65% Li
2
O
from 15.25m
including
1.25m @ 10.30% Cs
O, 806ppm Ta, & 2.30% Li
O
from 16.75m
PWM-
24-244
576310
5431112
345
60
-47.5
184
10.90
19.05
8.15
4.48
348
1.52
including
4.00m @ 8.98% Cs
2
O, 345ppm Ta, & 1.70% Li
2
O
from 13.00m
including
1.00m @ 14.40% Cs
O, 323ppm Ta, & 1.43% Li
O
from 16.00m
PWM-
24-246*
576311
5431111
345
60
-55
195
awaiting final assay results
PWM-
24-247
576312
5431111
346
60
-49
173
11.30
19.50
8.20
2.50
1377
2.61
including
4.10m @ 4.36 % Cs
2
O, 2,516 ppm Ta, & 2.93% Li
2
O
from 14.40m
including
0.60m @ 15.10% Cs
O, 1667ppm Ta, & 3.34% Li2O
from 14.40m
PWM-
24-248
576312
5431110
346
60
-59
149
awaiting final assay results
PWM-
24-249
576295
5431108
346
57
-63
166
7.60
13.50
5.90
0.13
330
1.63
PWM-
24-250
576291
5431106
346
54
-45
170
awaiting final assay results
PWM-
24-251
576312
5431122
344
72
-48
169
awaiting final assay results
PWM-
24-252
576312
5431122
344
72
-45
177
awaiting final assay results
PWM-
24-253
576312
5431122
344
72
-47
156
20.20
28.10
7.90
2.17
341
2.19
including
3.50m @ 4.72% Cs
2
O, 263ppm Ta, & 3.36% Li
2
O
from 23.10m
PWM-
24-254
576300
5431137
344
72
-49
175
37.50
44.80
7.30
0.38
370
0.91
including
1.50m @ 1.61% Cs
2
O, 546ppm Ta, & 0.25% Li
2
O
from 40.50m
PWM-
24-255
576300
5431137
344
72
-53
182.5
awaiting final assay results
PWM-
24-256
576311
5431125
345
72
-51
170
awaiting final assay results
PWM-
24-257
576311
5431125
345
72
-47
152
awaiting final assay results
PWM-
24-258
576321
5431120
346
72
-52
167
awaiting final assay results
PWM-
24-259
576321
5431120
345
74
-45
170
awaiting final assay results
*PWM-24-245 was abandoned at 9 meters and re-collared with PWM-24-246
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 5).
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 23,976 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 5).
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 5).
Decelles Property
The Decelles Property contains 669 claims, covering 38,404 hectares of LCT prospective ground near
the mining centres 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 transaction remains subject to TSXV approval. 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 5).
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 centre 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 5).
Figure 5 – 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 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
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2025/03/c4532.html
%SEDAR: 00024408E
For further information:
Power Metals Corp, Johnathan More, 515-401-7479,
CO: Power Metals Corp.
CNW 07:30e 03-FEB-25