Power Metals Defines World-Class Cesium Results up to 18.13% at Case Lake
POWER METALS DEFINES WORLD-CLASS
CESIUM RESULTS UP TO 18.13% AT CASE
LAKE
VANCOUVER, BC
,
May 22, 2024
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to report high-
grade cesium and lithium results from the first round of exploration drillhole assays received from the
winter 2024 drill program (the "Program") at its 100% owned Case Lake property (the "Property") in
northeastern
Ontario
. Exploration drilling outside of known target areas has intersected shallow high-
grade cesium mineralization up to 18.13% hosted in pollucite, and spodumene mineralization in the
first five (5) drill holes of thirty-two (32) completed drill holes at West Joe. In addition, drilling at the
Main Zone intercepted very encouraging spodumene widths and grades in stacked pegmatite
systems with the following highlights:
HIGHLIGHTS
WEST JOE:
PWM-24-177:
6.4 m
at 1.43% Li
2
O, 5.95% Cs
O and 311 ppm Ta
from
21.9 m
Including
3.7m
@ 1.50 % Li
2
O, 10.40% Cs
O and 355 ppm Ta
from
24.0m
Including
2.0m
@ 2.00 % Li
2
O, 15.10% Cs
O and 137 ppm Ta
from
24.0m
PWM-24-171:
9.8 m
at 1.27% Li
2
O,1.30% Cs
O and 149 ppm Ta
from
9.8 m
Including
2m
@ 1.58 % Li
2
O, 5.60% Cs
O and 266 ppm Ta
from
12.0m
CASE LAKE MAIN:
PWM-24-167:
13.3 m
at 1.84% Li
2
O and 139 ppm Ta
from
45.5 m
PWM-24-168:
16.8 m
at 1.01% Li2O and 93 ppm Ta
from
32.9 m
PWM-24-165:
10.3 m
at 1.66% Li
2
O and 122 ppm Ta
from
25.0 m
PWM-24-164:
8.0 m
at 1.81% Li
2
O and 152 ppm Ta
from
22.0 m
PWM-24-165:
7.5 m
at 1.74% Li
2
O and 177 ppm Ta
from
9.0 m
PWM-24-168:
7.3 m
at 1.1% Li
2
O and 105 ppm Ta
from
5.6 m
PWM-24-164:
6.3 m
at 1.45% Li
2
O and 89 ppm Ta
from
7.0 m
WINTER 2024 EXPLORATION DRILL PROGRAM
Exploration drilling for the winter 2024 program is now completed at Case Lake with 3,907 meters
drilled for thirty-eight (38) diamond drill holes completed of the planned 4,000-meter program.
Major
Drilling
demobilized the rig and team last week and all samples have been submitted to the
laboratories for analysis. The Company has drilled thirty-two (32) exploration drill holes at West Joe
focusing on defining and expanding the current world-class high-grade mineralization potential that is
represented at the West Joe deposit (Figure 1 to 3 and Table 1). Positive lithium assay results
were received from the five (5) exploration drill holes at Main Zone has confirmed the continued
presence of high-grade Lithium – Cesium – Tantalum (LCT) mineralization in stacked pegmatite
systems (Figures 4 to 6 and Table 1).
Haydn Daxter, Power Metals CEO commented "I am very pleased to see the first round of assay
results from our exploration drilling program, these confirm our Case Lake property continues to
deliver at a high level with results outside of the known mineralization envelope. We are incredibly
buoyant on the cesium and spodumene potential displayed at West Joe from the current drilling
and look forward to seeing the remaining assay results. Globally cesium is a critical mineral that
has only produced three (3) known mineable resources to date, and the Company is well
positioned to unlock the full potential at West Joe. At the same time the Main Zone continues to
display very encouraging lithium mineralization in stacked pegmatites with consistent grades and
widths for the Company".
WEST JOE
The West Joe deposit is a unique, highly fractionated LCT pegmatite system that contains world-
class high-grade cesium (Cs
2
O) mineralization hosted in pollucite (Figure 1). It is characterized by
two stacked pegmatites that are up to 9 meters thick and contain high grade Lithium – Cesium –
Tantalum mineralization, extending for 100 meters along strike and open down plunge. The deposit
was discovered by Power Metals in 2018 with high grade cesium up to 24% reported during drill
programs completed in 2018 and 2022.
Figure 1 – West Joe plan View Map Displaying Collar Location from the 2024 Drilling Program
(CNW Group/Power Metals Corp.)
High-grade cesium mineralization at West Joe occurs at the far west end of a 10 km mineralization
trend at Case Lake that extends from Dome 9 to the far northeast through to West Joe in the west.
The 2024 drilling at West Joe (holes PWM-24-171 to PWM-24-202) is targeting high grade cesium
in pollucite, spodumene, and tantalite-columbite mineralization that occurs in and around contact
between Case Lake Batholith and metasedimentary units. Several step out exploration holes were
drilled to test exploration targets along strike and down dip of the West Joe deposit in line with the
current geological model.
Figure 2 - Cross section of PWM24-171 with results from West Joe drilling from the Company’s
2024 program, along with previously released results from 2022 (CNW Group/Power Metals Corp.)
The first five exploration drill holes as reported in this announcement highlight the continuation of a
world-class, high-grade cesium zone at West Joe with broad lower grade cesium mineralization
along with narrow high grade cesium mineralization of close to pure pollucite. All holes have
intercepted high-grade cesium mineralization in pollucite, and at a very shallow depth that will assist
in growing the known mineralized zone to near surface projection.
Hole PWM-24-171 intersected 2-meters of
5.60% Cs
O
within 9.2 meters of LCT pegmatite that
contains 1.27% Li
O,
1.30% Cs
O
, and 149 ppm tantalum, extending mineralization up-plunge of
drillholes PWM-22-147 and PWM-22-150 (Figure 2 and Table 1).
Figure 3 - Cross section of PWM24-177 with results from West Joe drilling from the Company’s
2024 program, along with previously released results from 2018 and 2022 (CNW Group/Power
Metals Corp.)
Hole PWM-24-177 intersected shallow high-grade cesium with 6.4 meters of 1.43% Li
O,
5.95%
Cs
O,
and 311 ppm tantalum, this included 3.7 meters of
10.4% Cs
O
from 24 meters. Within this
high-grade zone cesium zone, we defined a 2.0-meter interval of
15.05% Cs
O
and a meter of
18.13% Cs
O
(Figure 3 and Table 1). Cesium grades this high have only been reported to date in
the three known global deposits, Bakita*, Sinclair*, and Tanco. The consistent mineralization from
the current and historical drilling at West Joe adds further weight to this developing into a world
class deposit.
*These projects are currently not in operation.
CASE LAKE MAIN
LCT pegmatite mineralization at Case Main is represented as a stacked pegmatite system that is
part of three main dykes, historically referred as South, Main, and North dykes (Figure 4). The LCT
pegmatite system at Case Main is characterized by high-grade Lithium – Tantalum ± Cesium
mineralization that is up to 35 meters thick and extends for more than 400 meters along strike.
Mineralization continues to 100 meters vertical depth and remains open down plunge to the west and
along strike to the east.
Figure 4 – Case Lake Main Collar Location from 2024 Drilling (CNW Group/Power Metals Corp.)
The Case Main pegmatites trend parallel to each other while striking at 245
֯
and dip moderately
between 50
֯
70
֯
to the north. The mineralization at Case Main and throughout Case Lake property
displays distinct zonation of spodumene, tantalite-columbite, and pollucite, characteristics of highly
fractionated LCT pegmatite systems. The North and Main dykes at Case Main are characterized by
lithium-rich coarse-grained 2 – 25 cm spodumene mineralization that makes up to 10 to 30 % of the
dykes, whereas the South dyke and several subordinate dykes are characterized by lower-grade
lithium and ore-grade tantalum mineralization.
Drilling conducted at Case Main during the 2024 program (PWM-24-164 to PWM-24-170) delineated
shallow high-grade lithium and tantalum mineralization characterized by coarse-graded spodumene in
the Main and North dykes with up to
13.30m
@ 1.84% Li
O
, PWM-24-167. In addition to this drilling
intercepted the presence of several lower grade pegmatites with ore-grade tantalum in the South
dyke and sporadic subordinate dykes that confirms the exploration potential for additional
mineralization occurring in these dykes (Figure 5-6 and Table 1).
Figure 5 – Cross section of PWM24-164 with results from Main Zone drilling from the Company’s
2024 program, along with previously released results from 2017-2018 (CNW Group/Power Metals
Corp.)
Figure 6 – Cross section of PWM24-167 with results from Main Zone drilling from the Company’s
2024 program, along with previously released results from 2017-2022 (CNW Group/Power Metals
Corp.)
Johnathan More
, Chairman of Power Metals commented "We are extremely pleased to see the
first round of assays back from the laboratory from our winter 2024 drill program at Case Lake that
further confirms high-grade Cesium and Lithium mineralization at West Joe with its world-class
potential and Main Zone producing consistent results. We look forward to releasing additional
results as we begin our upcoming summer field activities and phase II drilling."
Table 1 – Summary of Assay Results in Drillholes Reported in this Press Release
Hole ID
Easting
NAD83
Northing
NAD83
Elevation
MASL
Hole Depth
(m)
Dip
Azimuth
NAD83
From (m)
To (m)
Significant Intersections
Interval (m)
Li
2
O %
Ta (ppm)
Cs
2
O (%)
Main Zone
PWM-24-
164
578222
5431687
347
126
-45
147
7
13.3
6.3
1.45
89
0.02
including
5.00m @ 1.71 % Li
2
O & 64 ppm Ta
from 7.0m
22
30
8
1.81
152
0.01
including
5.00m @ 2.43 % Li
2
O & 212 ppm Ta
from 24.0m
30
39.8
9.8
0.15
62
0.01
76.4
79.6
3.2
0.04
181
0.01
107.3
108.7
1.3
0.11
890
0.02
PWM-24-
165
578215
5431685
348
111
-45
147
9
16.5
7.5
1.74
177
0.01
including
5.00m @ 2.01 % Li
2
O & 188 ppm Ta
from 10.0m
25
35.3
10.3
1.66
122
0.01
including
6.00m @ 2.31 % Li
2
O & 178 ppm Ta
from 27.0m
75.4
79
3.6
0.04
336
0.02
PWM-24-
166
578188
5431736
342
132
-45
147
55
60
5
0.04
116
0.01
65
75
10
0.08
142
0.02
including
6.00m @ 175 ppm Ta
from 68.0m
100
103.36
3.06
0.21
104
0.01
PWM-24-
167
578144
5431689
344
135
-45
147
17.2
23.6
6.3
0.4
168
0.01
45.5
58.8
13.3
1.84
139
0.01
including
8.00m @ 2.28 % Li
2
O & 175 ppm Ta
from 46.5m
67
72
5
0.17
94
0.02
PWM-24-
168
578142
5431669
345
123
-45
147
5.6
12.9
7.3
1.09
105
0.01
32.9
49.8
16.8
1.01
93
0.01
including
6.00m @ 2.1 % Li
2
O & 144 ppm Ta
from 34.0m
59.1
63.7
4.5
0.61
130
0.01
PWM-24-
169
578310
5431684
345
201
-45
147
Pending assay results
PWM-24-
170
578312
5431649
347
141
-45
153
Pending assay results
West Joe
PWM-24-
171
576318
5431109
346
72
-45
170
9.8
19
9.2
1.27
149
1.30
including
2.0m @ 1.58 % Li2O, 5.60% Cs
O, & 266 ppm Ta
from 12.0m
PWM-24-
172
576309
5431105
346
60
-45
170
12
13.7
1.7
1.39
155
0.90
PWM-24-
173
576304
5431105
346
72
-45
170
6.05
13.64
7.6
1.27
239
0.2
PWM-24-
174
576333
5431142
342
75
-45
170
32.55
40.88
8.3
0.7
424
0.3
including
2.6m @ 0.9 % Li2O, 0.8%
Cs
O
, & 770 ppm Ta
from 35.0m
PWM-24-
175
576343
5431133
344
72
-45
170
Pending assay results
PWM-24-
176
576343
5431133
344
100
-45
152
Pending assay results
PWM-24-
177
576311
5431126
344
72
-45
170
21.9
28.32
6.4
1.43
311
5.95
including
3.7m @ 1.5 % Li2O, 10.4%
Cs
O
, & 355 ppm Ta
from
24.0m
with
2.0m @ 2.0 % Li2O, 15.1%
Cs
O
, & 137 ppm Ta
from 24.0m
SPRING SHUTDOWN
The Company completed drilling and completely demobilized from Case Lake as of the 17
th
of May
and in line with respecting the annual hunting period and practices conducted each spring by the
traditional landowners. The Company has commenced a review on the drilling data from Phase I as
we prepare to commence planning for Phase II drilling along with development of the current
geological model and our summer field activities.
Prior to the shutdown the Company has also completed a series of metallurgical drill holes at West
Joe in preparation for our next stages of exploration and project development across the Case Lake
property.
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 core diameter (48 mm), 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 Activation Laboratories Ltd. ("Actlabs") and 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 either Actlabs Timmins or SGS Cochrane, in
Ontario
. Samples submitted
to Actlabs were prepped, crushed and pulverized in
Timmins
and were subsequently sent to Actlabs
geochemistry laboratory in
Ancaster, Ontario
for multi element analysis using sodium peroxide fusion
ICP-OES/ICP-MS and borate fusion ICP-MS. 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.
Actlabs and SGS Canada are 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 7).
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 7 – Map of Power Metals current project in northeastern Ontario and northwestern Quebec,
Canada (CNW Group/Power Metals Corp.)
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 7).
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 7).
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 7).
Pollucite and Cesium
Pollucite is a rare mineral that hosts high grade cesium and is associated with highly fractionated,
compact, and 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. Exploration
data was collected and verified following the guidelines outlined in CIM's Mineral Exploration Best
Practice Guidelines.
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
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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