Power Metals Commences Drilling at Case Lake
Power Metals Commences Drilling at Case
Lake
VANCOUVER, BC
,
June 21, 2022
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTC: PWRMF) is pleased to
announce that drilling has commenced in the West Joe Dyke area on the Company's 100% owned
Case Lake Property, 80 km east of
Cochrane
. Power Metals is currently fully-funded for 20,000
meters of drilling. Phase one of the program will consist of 5,000 meters and comprise of
approximately 50 shallow drill holes on the Case Lake Property focusing on the lithium-cesium-
tantalum (Li-Cs-Ta) West Joe Dyke (Figure 1). The objective of the drill program will be to expand
the Li-Cs-Ta mineralization previously discovered at West Joe during the 2018 drill program. The
West Joe Dyke will be tested along strike and down dip, as it is currently open in all directions.
Spodumene (Li ore) and Ta-oxide minerals occur in outcrop on the surface of the West Joe Dyke
and pollucite (Cs ore) was intersected in drill core. Li-Cs-Ta are all on
Canada's
and
Ontario's
Critical Minerals list.
Johnathan More
, Chairman & CEO of Power Metals commented, "We are very excited to be
back drilling again. We have assembled a world class team that will assist in the exploration and
drilling. This will be a very busy summer for the Power Metals team and the drilling will hopefully
prove up and show the world the immense uncovered value we see in our Case Lake Property."
Case Lake Li-Cs-Ta Property is a three-commodity property with Lithium (Li), Cesium (Cs) and
Tantalum (Ta) mineralization in the form of spodumene, pollucite and Ta-oxide minerals. West Joe
pegmatite dyke is unique in that it is one of the few cesium-rich pegmatites in the world. There are
only three deposits that have been globally mined for cesium: Tanco,
Manitoba
, Sinclair,
Australia
and Bikita,
Zimbabwe
, however the cesium supply has been depleted in each of these deposits at a
time when the global demand for cesium is rising.
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 Property is 10 km x 9.5 km in size with 14 identified
tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main,
South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite
dome. Case Lake Property consists of 585 cell claims in Steele, Case, Scapa, Pliny,
Abbotsford
and Challies townships, Larder Lake Mining Division. The Case Lake Property is owned 100% by
Power Metals Corp.
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 & CEO
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 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.
Figure 1 Case Lake domes and mineralization trend (CNW Group/POWER METALS CORP)
SOURCE
POWER METALS CORP
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/June2022/21/c6845.html
%SEDAR: 00024408E
For further information:
Power Metals Corp., Johnathan More, 646-661-0409,
CO: POWER METALS CORP
CNW 08:00e 21-JUN-22