Power Metals Continues to Hit High-Grade Mineralization Near Surface at Case Lake
POWER METALS CONTINUES TO HIT
HIGH-GRADE MINERALIZATION NEAR
SURFACE AT CASE LAKE
VANCOUVER, BC, Sept. 10, 2024 /CNW/ - Power Metals
Corp ("Power Metals" or the "Company") (TSXV: PWM)
(FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to provide an
exploration update on its ongoing Phase II 2024 drill program (the
"Program") at its 100% owned Case Lake property (the "Property").
The second program of 2024 at Case Lake with Major Drilling is
progressing with the first 841 meters for eleven (11) diamond drill
holes completed of the planned 2,500-meter program. The Phase II
drilling program is currently ahead of schedule, we anticipate the
program to be completed in early October at Case Lake to test several
high-priority cesium targets.
WEST JOE
Phase II drilling at West Joe continues to delineate and extend
pollucite and spodumene mineralization at West Joe. PWM-24-207 to
PWM-24-213 intersected 2-20% pollucite and 2-15% spodumene in
consistent pegmatites that are 2-8m thick (Figure 2). Exploration holes
PWM-24-214 to PWM-24-217 also intersected similar pegmatites with
spodumene mineralization and will await final assay results to confirm
cesium and/or pollucite mineralization. The first batch of samples from
West Joe have been submitted to SGS Canada for analysis.
The Company commenced Phase II drilling at West Joe in late August
and has completed eleven (11) diamond drill holes to date for a total
of 841 meters. West Joe (Figure 1) is a highly-fractionated cesium rich
pegmatite system that has displayed known pollucite mineralization,
associated to high-grade cesium. Previous drilling completed between
2017 and 2024 identified high-grade cesium mineralization that
contains up to 24.7% Cs2O (Press release reported in June 2024).
Target areas at West Joe currently remain open at depth and along
strike to the east, and additional drilling is planned to test the down
plunge extension of West Joe to the east in September before the drill
moves to Main Zone to test cesium-rich targets, with the remaining
1,700 meters of drilling to be completed in approximately 14 holes.
Haydn Daxter, Power Metals CEO commented "We are extremely
pleased with the current progress to date for our Phase II Drilling
Program at Case Lake. The team continues to unearth high grade
cesium intercepts at West Joe from drilling to date and we look
forward to our first round of assay results. We anticipate drilling to be
completed in early October and assays results to commence later in
the month."
METALLURGICAL TEST WORK
The Company has continued to advance its Metallurgical test work
with SGS Laboratories in Canada, currently over 80kg of material has
been sent to SGS to commence the test work in the production of
cesium chemicals. At the same time the Company has dispatched
over 60kg of material to Tomra Australia to conduct ore sorting and
mineral separation on cesium from West Joe (Figure 3). This
metallurgical test work will continue into October as the Company
continues to de-risk the cesium mineralization of West Joe.
Johnathan More, Chairman of Power Metals commented "I am
extremely pleased with the current progress of our 2024 Phase II
Drilling Program at Case Lake from the team on the ground. The
Company remains fully funded for exploration drilling and test work as
we continue to develop a clear path for the high-grade pollucite
mineralization at West Joe."
Figure 1 – Map of the Case Lake Project Targets with West Joe and
Main Zone in northeastern Ontario, Canada (CNW Group/Power
Metals Corp.)
Figure 2 – Photo of drill core from PWM-24-211 displaying 8 meters of
Pollucite from West Joe at the Company’s Case Lake Property,
Ontario, Canada (CNW Group/Power Metals Corp.)
Figure 2 – Photo of drill core from PWM-24-211 displaying 8 meters of
Pollucite from West Joe at the Company’s Case Lake Property,
Ontario, Canada (CNW Group/Power Metals Corp.)
Figure 3 – Met Test Work Samples for SGS Canada and Tomra
Australia (CNW Group/Power Metals Corp.)
Figure 3 – Met Test Work Samples for SGS Canada and Tomra
Australia (CNW Group/Power Metals Corp.)
Figure 3 – Met Test Work Samples for SGS Canada and Tomra
Australia (CNW Group/Power Metals Corp.)
About SGS
SGS is the world's leading testing, inspection and certification
company. SGS is recognized as the global benchmark for quality and
integrity. With more than 98,000 employees, SGS operates a network
of over 2,650 offices and laboratories working together to enable a
better, safer and more interconnected world.
SGS is independent of the Company.
About TOMRA
TOMRA Sorting provides a broad portfolio of sensor technology that
enables precise detection and classification of individual particles.
TOMRA has three test centers located in Hamburg (Germany),
Sydney (Australia), and Johannesburg (South Africa) focused on
mining, each providing different testing possibilities.
TOMRA is independent of the Company.
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 4).
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 19,607 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 4).
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 4).
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 4).
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 4).
Figure 4 – 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)₂(Al₂Si₄O₁₂)•2H₂O,
(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
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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
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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.
SOURCE Power Metals Corp.
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