Power Metals' Exploration Drilling Intercepts Stacked Pegmatites and Pollucite at Main Zone and WEST Joe
POWER METALS' EXPLORATION DRILLING
INTERCEPTS STACKED PEGMATITES AND
POLLUCITE AT MAIN ZONE AND WEST JOE
VANCOUVER, BC
,
April 2, 2024
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the "
Company
")
(TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to provide an
exploration update on its ongoing winter 2024 drill program (the "Program") at its 100% owned Case
Lake property (the "Property"). The 2024 program at Case Lake with
Major Drilling
is progressing
well with the first 1,323 meters for twelve (12) diamond drill holes completed of the planned 4,000-
meter program. Drilling will continue throughout the month of April with the extended colder weather
in
NE Ontario
to complete the program with additional targets to be tested at the Main Zone and
West Joe deposits as the company is stepping out on the known mineralization across the Case
Lake property.
Haydn Daxter, Power Metals CEO commented "We are very pleased to see that drilling is
progressing well with the current program at Case Lake. The first round of drilling at the Main Zone
continues to add confidence with the current intercepts as we step outside of the known
spodumene mineralization zone. Likewise, at West Joe we have continued to see pollucite
mineralization in drilling which is the host for high grade cesium at this area of the property."
MAIN ZONE
Further to the Company's press release dated
March 19, 2024
, the continued drilling at Main Zone
has now completed seven (7) holes for 969 meters with spodumene mineralization present within
each hole to date. The continued presence of coarse spodumene mineralization displayed 2cm - 14
cm grain sizes with up to 25% spodumene mineralization in a series of stacked pegmatites systems
is very encouraging (Figure 1).
The Company plans to return to the Main Zone towards the second part of the program with planned
drilling to develop depth and strike extensions. Currently the Main Zone (Figure 3) strikes for over
400 meters in length, up to 35 meters thick with LCT (lithium-cesium-tantalum) mineralization.
Figure 1 – Photo of drill core from the Main Zone at the Company’s Case Lake Property, Ontario,
Canada (CNW Group/POWER METALS CORP)
WEST JOE
The Company commenced drilling at West Joe in the second half of March and has completed five
(5) diamond drill holes to date for 354 meters of drilling. West Joe (Figure 3) is an LCT pegmatite
system that has displayed known pollucite mineralization that is associated to high grade cesium.
Previous drilling completed between 2017 and 2022 identified high grade cesium mineralization that
contains up to 24% Cs
2
O (Press release reported in
October 2022
).
The completed drilling has displayed the presence of coarse to very coarse grained spodumene
between
2m
-
8m
in thickness and localized zones of up to 30% spodumene along with 5-15%
pollucite present within each hole completed to date (Figure 2).
Figure 2.1 – Photo of drill core displaying pollucite from West Joe at the Company’s Case Lake
Property, Ontario, Canada (CNW Group/POWER METALS CORP)
Figure 2.2 – Photo of drill core displaying pollucite from West Joe at the Company’s Case Lake
Property, Ontario, Canada (CNW Group/POWER METALS CORP)
Target areas at West Joe currently remain open at depth and along strike and will be tested over
the coming weeks to further develop the potential at West Joe. Samples from West Joe and the
Mian Zone have been submitted to Actlabs for analysis, these remain on track for results towards
the end of April.
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)
(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.
Figure 3 – Map of the Case Lake project in northeastern Ontario, Canada (CNW Group/POWER
METALS CORP)
CASE LAKE 2024
The Company is continuing to develop its advanced stage exploration project at Case Lake for 2024
and will conduct a second round of 4,000 meters drilling planned for this summer to add to the
currently completed 165 drill holes for 15,851 meters. Having eight (8) known drill targets on the
property along with regional targets that warrant further review from field mapping at Case Lake
provides the Company with a strong year of exploration to be conducted.
EXPLORATION STRATEGY FOR POWER METALS
The Company is currently reviewing its 2024 exploration strategy on progressing the advanced stage
Case Lake property, along with building a solid platform for each of the early-stage exploration
projects in Decelles, Mazerac, and Pelletier.
With this identifying the key structural controls that drive mineralization across each property is
paramount to building a geological model. The Company has engaged the services of Southern
Geosciences Consultants ("SGC") of
Perth, Australia
to provide a lithological and geological
assessment of Case Lake that will form part of the structural model of the property. Along with
engaging SGC the Company is reviewing targeted low level Drone magnetic surveys to be
performed across key areas of the property that currently hosts LCT mineralization at Case Lake.
The Company will also commence the development with SGC geological models across the early-
stage exploration properties in Decelles, Mazerac, and Pelletier, along with conducting summer field
programs with soil, outcrop sampling and mapping.
Johnathan More
, Chairman of Power Metals commented "We are very excited with the progress of
drilling at Case Lake and are looking forward to announcing the first round of assay results this
coming month. Being fully funded for exploration drilling through 2024 and having the highly-
credentialed team at Southern Geoscience Consultants working with Power Metals Corp to develop
our geological and structural interpretations across Case Lake and our early exploration stage
properties will add to the Company's new discoveries by our team."
Figure 4 – Drilling at Power Metals Corp West Joe Deposit (CNW Group/POWER METALS CORP)
About Southern Geoscience Consultants
Southern Geoscience Consultants (SGC) is a specialist group of geoscientists focused on providing
the highest quality integrated geophysical solutions, geological models, and interpretations to the
mining and exploration industry. Their technical team is one of the largest groups of geophysicists
globally with extensive experience throughout
Asia Pacific
,
Africa
, the Americas, and
Europe
, as well
as the
Middle East
and
Russia
. SGC is an independent consultancy group to the Company.
Figure 5 – Map of Power Metals current project in northeastern Ontario and northwestern Quebec,
Canada (CNW Group/POWER METALS CORP)
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.
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
.
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.
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.
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.
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, 646-661-0409,
CO: POWER METALS CORP
CNW 08:30e 02-APR-24