Power Metals Announces Hole PWM-18-84 Intersects 126.25 m of Pegmatite
Power Metals Announces Hole PWM-18-84 Intersects 126.25 m of Pegmatite
VANCOUVER, July 9, 2018 /CNW/ - Power Metals Corp. ("Power Metals Corp." or the "Company")
(TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTC: PWRMF) is pleased to announce that the first hole
of the summer drill program, PWM-18-84, has successfully intersected 126.25 m of pegmatite within the
Main Dyke at Case Lake, east of Cochrane. 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.
Drill hole PWM-18-84 has significant intervals which contain spodumene within the Main Dyke:
19.17 m interval, 2-21.17 m, of spodumene pegm atite with 5-10% spodumene (Figure 1)
16.81 m interval, 54.54-71.35 m, of spodumene granit e with locally up to 15% spodumene (Figure 2)
8.07 m interval, 71.35-79.42 m, of spodumene pegmatite with locally up to 30% spodumene. The
green spodumene is coarse-grained with crystals up to 5 cm across and > 10 cm long.
The drill core samples have been submitted to the lab and assays are pending. Power Metals is drilling in
excess of 15,000 m in this summer/fall drill program.
Figure 1 PWM-18-84, boxes 1 to 6, spodumene pegmatite with up to 10% spodumene (boxes 1 to 5) and
quartz core (box 6), Main Dyke, Case Lake.
Figure 2 PWM-18-84, boxes 17 to 20, spodumene granite with up to 15% spodumene (boxes 17 to 19)
and spodumene pegmatite with coarse-grained spodumene and up to 30% spodumene (boxes 19 and
20), Main Dyke, Case Lake.
Dr. Selway, VP of Exploration, stated, "Power Metals started off the summer drill program with a bang.
The longitudinal hole PWM-18-84 with 126.25 m of pegmatite confirmed the continuity of the Main Dyke
along strike and down dip for a future resource estimate. The abundance of spodumene seen in the core
should result in exciting lithium assays."
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
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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
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be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined
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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 on 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,
CO: POWER METALS CORP
CNW 03:00e 09-JUL-18