Power Metals Discovers New Pegmatites Containing Spodumene North of Case Lake
POWER METALS DISCOVERS NEW
PEGMATITES CONTAINING SPODUMENE
NORTH OF CASE LAKE
VANCOUVER, BC
,
Sept. 13, 2023
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
") (TSXV: PWM) (FRANKFURT: OAA1) (OTC: PWRMF) is pleased to announce
discovery of new pegmatites north of known pegmatite deposits at its 100% owned Case Lake
Property ("The Property") in northeastern
Ontario
. The new pegmatites were identified during the
company's ongoing 2023 field exploration program that started in summer of 2023. The 2023 field
exploration program is focusing on prospecting, sampling and geological mapping of existing and
new pegmatite prospective areas that were identified using compilation and interpretation of
geological maps, drilling, and recently acquired high resolution magnetic and LiDAR surveys.
Johnathan More
, Chairman of Power Metals commented, "We are excited with the discovery of new
pegmatites at Case Lake after we were able to mobilize a field exploration crew during a challenging
forest fire season in northeastern
Ontario
. We are very happy with the progress of the field
exploration program and look forward to further enhance the quality of targets we are generating for
an upcoming drill program."
KEY EXPLORATION HIGHLIGHTS
The new pegmatite dikes occur about 1.5 km north of the Northeast dike in close proximity to
Dome Nine. Field observations and assay results of samples collected in 2023 confirm presence
of 10-to-15-meter wide spodumene bearing pegmatites with Lithium content as high as 1.12%
Li
2
O (Figures 1 to 4).
The 2023 field program confirmed presence of spodumene about 300 meters southeast of the
Main Zone in the western part of the East dike (Figures 2 to 4).
A new pegmatitic tonalite was identified approximately 1.3 km southwest of the West Joe Zone
in metavolcanic units in an area where historical geological maps reported trenches with
pegmatites and quartz veins that contain molybdenum (Figures 2 to 4).
In addition to previously identified tonalitic domes that are prospective for Lithium-Cesium-
Tantalum (LCT) pegmatites on the property, compilation of historical & recently acquired LiDAR
& magnetic data identified nine pegmatite prospective new areas (Figure 5).
These areas were identified based on presence of pegmatitic tonalites, lineaments , and their
similar magnetic and LiDAR signatures compared to the signature of areas that host LCT
mineralization at Case Lake.
The company is progressing well with the 2023 field exploration program and is prioritizing the
highlighted results to generate drill ready targets. Power Metals is fully budgeted for 15,000-
meter drill program that is expected to start later in the fall.
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 579 cell claims in Steele, Case, Scapa, Pliny,
Abbotsford
and Challies townships, Larder Lake Mining Division. The Property is 10 km by 9.5 km in
size with 14 tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dikes
known as the North, Main, South, East and Northeast dikes on the Henry Dome, and the West Joe
dike on a new tonalite dome, collectively forming mineralization trend that extends for about 10 km.
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 15,700 meters of core between 2017 and 2022 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 1 - Case Lake property map showing spodumene bearing LCT pegmatite dikes & regional
distribution of pegmatite bearing tonalitic domes. (CNW Group/POWER METALS CORP)
Figure 2 - Case Lake property map showing Li2O (%) in samples collected between 2017-2022 and
2023. (CNW Group/POWER METALS CORP)
Figure 3 - Case Lake property map showing Rb (ppm) in samples collected between 2017-2022 and
2023. (CNW Group/POWER METALS CORP)
Figure 4 – Outcrop photos taken during the 2023 field exploration program at Case Lake. Figure 4A
to 4C show photos taken from spodumene bearing new pegmatite in Dome Nine. Figure 4D show
spodumene in the western part of the East Dike. Figures 4E was taken from new pegmatitic tonalite
hosted in mafic metavolcanics in the southern part of the property. Figure 4F was taken from a new
pegmatite that occurs about 500 meters north of the Northeast Dike. (CNW Group/POWER
METALS CORP)
Figure 5. Map showing distribution of tonalitic domes and newly identified pegmatite prospective
areas at Case Lake
property. (CNW Group/POWER METALS CORP)
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 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
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For further information:
Power Metals Corp., Johnathan More, 515-401-7479,
CO: POWER METALS CORP
CNW 08:00e 13-SEP-23