Power Metals Intersects 1.81% Li2O and 136.10 ppm Ta Over 17.0 m at Case Lake
Power Metals Intersects 1.81% Li2O and 136.10 ppm Ta Over
17.0 m at Case Lake
VANCOUVER
,
Jan. 5, 2018
/CNW/ -
Power Metals Corp.
("
Power Metals Corp.
" or the "
Company
") (TSX VENTURE:PWM)
(FRANKFURT:OAA1)(OTC:AOUFF) is pleased to announce that drill holes intersected, for assays received to date, more impressively wide
high-grade lithium (Li) and tantalum (Ta) mineralized intervals for the Main Dyke at Case Lake, east of
Cochrane, Ontario
.
PWM-17-33: 2.19 % Li
2
O and 195.27 ppm Ta over
6.0 m
(5.0 to
11.0 m
)
PWM-17-33: 2.11 % Li
2
O and 259.31 ppm Ta over
11.0 m
(22.0 to
33.0 m
)
PWM-17-34: 1.81 % Li
2
O and 136.10 ppm Ta over
17.0 m
Drill hole PWM-17-33 has impressive lithium and tantalum mineralization (Figures 1 and 2). Lithium grades are up to 3.02 % Li
2
O over
2.0 m
and
2.84 % Li
2
O over
4.0 m
in PWM-17-33. Tantalum grades are up to 554.0 ppm Ta over
2.0 m
in PWM-17-33. The high-grade coarse-grained
spodumene inner intermediate zone from 5.0 to
11.0 m
is followed by a very coarse-grained white K-feldspar and pure quartz core (11.0 to
22.0
m
) and by another high-grade coarse-grained spodumene inner intermediate zone from 22.0 to
33.0 m
. This indicates that the high-grade
spodumene pegmatite zone is concentrically zoned around the quartz core. The Main Dyke in this hole has a narrow low-grade outer pegmatite
zone and the total width of the Main Dyke in PWM-17-33 is
32.65 m
.
Drill hole PWM-17-34 also has an impressive width of
17.0 m
of continuous lithium and tantalum mineralization. Lithium grades are up to 2.59 %
Li
2
O over
1.0 m
and 2.42 % Li
2
O over
2.0 m
. Tantalum grades are up to 264.25 ppm Ta over
4.0 m
. The Main Dyke in this hole has a second
high grade lithium zone of 1.79 % Li
2
O over
3.0 m
. Including the narrow low-grade outer pegmatite zone and the total width of the Main Dyke in
PWM-17-34 is
27.5 m
.
The Main Dyke is consistently 30-
35 m
exposed on surface and in shallow drill holes. With depth, the Main Dyke becomes multiple spodumene
pegmatite dykes separated by tonalite, but still within the same 30-
35 m
envelop of mineralization. Additional high-grade lithium intervals include:
PWM-17-16: 1.12 % Li
2
O and 119.03 ppm Ta over
7.0 m
PWM-17-19: 2.56 % Li
2
O and 47.50 ppm Ta over
1.14 m
PWM-17-22: 2.95 % Li
2
O and 255 ppm Ta over
1.0 m
PWM-17-22: 2.40 % Li
2
O and 35.45 ppm Ta over
2.0 m
Assay highlights for assays > 0.5 % Li
2
O holes PWM-17-02 to 34 are given in Table 1. Assays for drill holes PWM-17-01, 04, 08, 09 and 10
are given in Power Metals press release dated
Nov. 2, 2017
. Drill hole collar locations are given in Table 2.
Figure 1
Main Dyke, PWM-17-33, boxes 1 to 4, 0.0 to
16.3 m
. Note high grade lithium zone in boxes 2 and 3.
Figure 2
Main Dyke, PWM-17-33, box 5 to 8, 16.3 to
33.3 m
. Note high grade lithium zone in boxes 6, 7 and 8.
Table 1 Assay highlights for PWM-17-02 to 34.
Drill Hole No.
Including
From (m)
To (m)
Interval (m)
Li2O (%)
weighted
average
Ta (ppm)
weighted
average
PWM-17-02
60.60
63.50
2.90
0.82
86.48
PWM-17-02
78.00
79.00
1.00
0.60
26.20
PWM-17-03
98.47
98.80
0.33
1.08
162.00
PWM-17-14
30.55
31.05
0.50
0.93
72.70
PWM-17-14
32.50
33.00
0.50
0.63
59.80
PWM-17-15
20.20
21.20
1.00
0.57
108.00
PWM-17-15
30.10
32.30
2.20
0.65
56.70
PWM-17-16
2.00
9.00
7.00
1.12
119.03
PWM-17-16
including
7.00
9.00
2.00
2.09
115.80
PWM-17-16
27.00
29.00
2.00
0.74
36.55
PWM-17-16
36.80
38.13
1.33
0.72
61.08
PWM-17-17
7.15
12.00
4.85
1.54
53.16
PWM-17-17
10.00
11.00
1.00
2.05
33.00
PWM-17-17
28.05
30.00
1.95
2.39
92.59
PWM-17-18
36.00
41.00
5.00
0.93
58.96
PWM-17-18
including
36.00
37.00
1.00
2.18
51.90
PWM-17-18
54.21
55.12
0.91
1.47
95.10
PWM-17-19
61.67
62.81
1.14
2.56
47.50
PWM-17-20
18.00
19.00
1.00
1.27
93.70
PWM-17-21
38.00
39.00
1.00
0.63
69.60
PWM-17-21
45.00
46.00
1.00
1.30
98.70
PWM-17-22
58.00
62.00
4.00
1.54
35.85
PWM-17-22
including
59.00
61.00
2.00
2.40
35.45
PWM-17-22
71.00
72.85
1.85
2.08
187.92
PWM-17-22
including
71.00
72.00
1.00
2.95
255.00
PWM-17-23
29.90
32.00
2.10
0.88
59.51
PWM-17-24
57.50
61.50
4.00
0.74
57.85
PWM-17-33
5.00
11.00
6.00
2.19
195.27
PWM-17-33
including
5.00
7.00
2.00
3.02
93.30
PWM-17-33
22.00
33.00
11.00
2.11
259.31
PWM-17-33
including
27.00
29.00
2.00
2.48
554.00
PWM-17-33
including
28.00
32.00
4.00
2.84
213.75
PWM-17-34
8.00
25.00
17.00
1.81
136.10
PWM-17-34
including
15.00
17.00
2.00
2.42
113.55
PWM-17-34
including
18.00
22.00
4.00
1.93
264.25
PWM-17-34
including
22.00
23.00
1.00
2.59
37.50
PWM-17-34
29.00
32.00
3.00
1.79
61.30
PWM-17-34
including
30.00
32.00
2.00
2.16
78.00
PWM-17-34
48.05
48.83
0.78
0.52
14.70
PWM-17-34
53.98
55.00
1.02
1.20
29.80
Drill holes PWM-17-05, 06, 07, 11, 12, 13, 25, 26, 27, 28, 29, 30 have no significant lithium values. Assays for PWM-17-31 and 32 are still
pending. Drill holes intersected the pegmatite dykes at almost 90 degrees, so intervals are close to true widths.
Power Metals is setting up a 2,000 metre drill program on the Northeast Dyke and drilling should start within a week. Grab sample assays from
the surface sampling on the Northeast Dyke range from 6.04% to 7.14% Li
2
O (see press release dated
Dec. 4, 2017
).
Dr. Selway, VP of Exploration stated "We are impressed by the high-grade lithium and tantalum mineralization drill holes PWM-17-33 and 34.
We are expecting to receive more high-grade assays from the drill program on the Main Dyke in the next couple of weeks. We are looking
forward to seeing the drill core from the first drill hole from the Northeast Dyke after the recent discovery of abundant very coarse-grained
spodumene on surface."
Quality Control
The drill core was sampled so that
1 m
of the Case Batholith tonalite host rock was sampled followed by
1 m
long samples of the pegmatite dyke
and
1 m
of the Case Batholith. The sampling followed lithology boundaries so that only one lithology unit is within a sample, except for the < 20 cm
pegmatite veins in tonalite which were merged into one sample. The drill core samples were delivered to Actlabs preparation lab in
Timmins
by
Power Metals' geologists. The core was crushed and pulverized in
Timmins
and then shipped to Actlabs analytical lab in
Ancaster
which has ISO
17025 certification. Every 20 samples included one external quartz blank, one external lithium standard and one core duplicate. The ore grade
Li
2
O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.01 % Li
2
O.
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
Case Lake pegmatite swarm consists of five dykes: North, Main, South, East and Northeast Dykes. The Northeast Dyke contains very coarse-
grained spodumene. Power Metals has an 80% interest with its 20% working interest partner MGX Minerals 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
.
Table 2 North, Main and South Dyke 2017 drill program collar locations. UTM NAD 83, Zone 17. NQ core.
Drill Hole No.
Easting
Northing
Elevation (m)
Dip (°)
Azimuth (°)
Length (m)
PWM-17-01
578022.0
5431602.0
346.00
-45
150
155
PWM-17-02
578002.1
5431633.2
346.00
-45
150
185
PWM-17-03
578207.4
5431700.5
347.00
-45
150
209
PWM-17-04
578118.3
5431734.7
342.50
-45
150
140.09
PWM-17-05
578118.3
5431734.4
342.50
-70
150
140.92
PWM-17-06
578167.3
5431768.2
341.54
-45
150
140
PWM-17-07
578167.4
5431768.5
341.54
-67
150
140
PWM-17-08
578207.4
5431700.0
347.00
-45
150
80
PWM-17-09
578207.3
5431700.5
347.00
-82
150
95
PWM-17-10
578150.7
5431677.0
345.00
-45
150
101
PWM-17-11
578248.0
5431749.8
342.00
-45
150
92
PWM-17-12
578252.5
5431797.9
342.60
-45
150
242
PWM-17-13
578277.5
5431761.1
345.34
-45
150
65
PWM-17-14
578079.0
5431620.0
342.00
-45
150
161
PWM-17-15
578087.5
5431611.5
347.00
-45
150
122
PWM-17-16
578033.4
5431579.9
348.94
-45
150
131
PWM-17-17
577996.9
5431567.4
350.44
-45
150
137
PWM-17-18
577984.5
5431595.9
349.34
-45
150
77
PWM-17-19
577967.9
5431623.5
346.74
-45
150
110
PWM-17-20
577971.9
5431548.5
347.04
-45
150
86
PWM-17-21
577948.6
5431579.3
346.74
-45
150
77
PWM-17-22
577926.8
5431606.7
348.34
-45
150
107.5
PWM-17-23
577925.7
5431565.4
344.00
-45
150
170
PWM-17-24
577903.0
5431589.0
345.60
-45
150
150
PWM-17-25
577890.0
5431618.0
347.00
-45
150
134
PWM-17-26
577941.0
5431543.5
344.90
-45
150
62
PWM-17-27
577919.1
5431526.7
344.60
-45
150
68
PWM-17-28
577905.4
5431553.4
345.80
-45
150
160
PWM-17-29
577876.2
5431538.3
345.44
-45
150
170
PWM-17-30
577854.2
5431591.7
344.34
-45
150
110
PWM-17-31
577892.4
5431685.1
345.84
-45
150
153
PWM-17-32
577846.7
5431667.4
343.34
-45
150
155
PWM-17-33
578198.2
5431660.9
354.54
-45
150
71
PWM-17-34
578169.8
5431647.9
351.64
-45
150
65
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, including zeolites. 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 the policies of the TSX Venture
Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties
and are not guarantees of future performance of Power Metals. There are numerous risks and uncertainties that could cause actual results and
Power Metals' plans and objectives to differ materially from those expressed in the forward-looking information, including other factors beyond
Power Metals' control. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent
written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by law, Power Metals assumes no obligation to update forward-looking information
should circumstances or management's estimates or opinions change.
SOURCE
POWER METALS CORP
View original content: http://www.newswire.ca/en/releases/archive/January2018/05/c2586.html
%SEDAR: 00024408E
For further information:
Power Metals Corp., Johnathan More, 646-661-0409, [email protected]
CO: POWER METALS CORP
CNW 00:30e 05-JAN-18