Power Metals Intersects 1.86 % Li2O over 19.0 m at Case Lake
Power Metals Intersects 1.86 % Li2O over 19.0
m at Case Lake
VANCOUVER, BC
,
Sept. 8, 2022
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce that
two drill holes have intersected high-grade Li and Ta (Lithium and Tantalum) mineralization on the
Main Dyke at the Company's 100% owned Case Lake property in
Cochrane, Ontario
.
The lithium mineralization is spodumene on the Main Dyke. Coarse-grained green spodumene and
fine-grained white spodumene occur in the inner intermediate zone of the Main Dyke with quartz and
feldspars.
Johnathan More
, Chairman & CEO of Power Metals, commented "We continue to hit impressive
numbers on our ongoing drill program. This deposit is at surface and enjoys extremely favorable
logistics relating to accessibility and already in place infrastructure. Additionally, we are awaiting on
more assays from the lab and are excited to release them when they are available."
Assay highlights on Main Dyke include (Table 1):
1.58 % Li
2
O and 143.1 ppm Ta over
15.0 m
, PWM-22-134 (Figure 1)
3.08 % Li
2
O and 74.4 ppm Ta over
1.0 m
, PWM-22-134
1.86 % Li
2
O and 130.7 ppm Ta over
19.0 m
, PWM-22-135 (Figure 2)
3.68 % Li
2
O and 84.0 ppm Ta over
1.0 m
, PWM-22-135
3.01 % Li
2
O and 546.5 ppm Ta over
2.0 m
, PWM-22-135.
Drill hole
including
From (m)
To (m)
Length (m)
Li
2
O (%)
Ta (ppm)
PWM-22-134
19.00
34.00
15.00
1.58
143.1
PWM-22-134
including
20.00
21.00
1.00
3.08
74.4
PWM-22-134
including
22.00
23.00
1.00
2.19
356.0
PWM-22-134
including
30.00
34.00
4.00
2.16
180.3
PWM-22-134
38.62
39.78
1.16
0.49
74.0
PWM-22-134
40.76
44.00
3.24
2.06
60.6
PWM-22-135
including
42.00
43.00
1.00
3.68
84.0
PWM-22-135
7.00
31.00
19.00
1.86
130.7
PWM-22-135
including
8.00
17.00
9.00
2.35
240.2
PWM-22-135
including
13.00
15.00
2.00
3.01
546.5
PWM-22-135
including
20.00
21.00
1.00
2.24
19.7
PWM-22-135
including
29.00
31.00
2.00
2.39
49.9
PWM-22-135
47.14
47.81
0.67
0.76
92.1
PWM-22-136
83.54
83.71
0.17
0.005
215.0
PWM-22-136
115.70
115.93
0.23
0.011
193.0
Table 1 Assay highlights for Main Dyke, drill holes PWM-
22-134 and 135 and exploration hole PWM-22-136.
Drill holes are oriented perpendicular to the strike length of the pegmatite, so mineralization is close
to true width.
Figure 1 Spodumene pegmatite, 26.9-53.0 m, drill hole PWM-22-134, Main Dyke, Case Lake
Property. (CNW Group/POWER METALS CORP)
Figure 2 Spodumene pegmatite, 1.31 – 23.18 m, drill hole PWM-22-135, Main Dyke, Case Lake
Property. (CNW Group/POWER METALS CORP)
Exploration drill hole PWM-22-136 is located
514 m
east of the Li-Cs-Ta West Joe Dyke along
strike. This exploration hole intersected the outermost pegmatite zones with high grade Ta
mineralization (193 and 215 ppm Ta) (Table 1). Additional drill holes will be drilled around it to try to
find the lithium mineralization which should be associated with the Ta mineralization to expand the
lithium mineralization at West Joe.
Power Metals 2022 summer drill program is for
5000 m
and over
2700 m
has been completed to
date. This press release reports assays received to date from drill hole PWM-22-134 and 135 on
the Main Dyke and exploration drill hole PWM-22-136 514 km east of West Joe Dyke. The purpose
of each drill hole on the Main Dyke was to infill on known mineralization to aid in a future resource
estimate. The purpose of the exploration hole is to expand the lithium mineralization at West Joe.
Assays pending will be released once received.
Drill hole collar coordinates are given in Table 2.
Drill Hole
Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Length
(m)
PWM-22-134
578163.63
5431658.65
348.49
150
-45
84
PWM-22-135
578170.60
5431645.06
350.02
150
-45
63
PWM-22-136
576858.74
5431143.43
341.82
180
-45
125
Table 2 Main Dyke and exploration, Case Lake drill hole
collar coordinates. NAD 83, Zone 17. Trimble DGPS
survey with 2 cm accuracy in the horizontal.
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 SGS preparation lab in
Cochrane
by Power Metals' geologists. The core was prepared
at SGS Garson and analyzed at SGS
Burnaby, British Columbia
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 0.002 % Li
2
O. A QA/QC review of the standards and blanks for this drill
program indicate that they passed and the drill core assays are accurate and not contaminated.
Case Lake Property
Case Lake Property is located 80 km east of
Cochrane
, northeastern
Ontario
close to the
Ontario
-
Quebec
border. Case Lake Property consists of 585 cell claims in Steele, Case, Scapa,
Pliny,
Abbotsford
and Challies townships, Larder Lake Mining Division. The Property is 10 km x 9.5
km in size with 14 identified tonalite domes. The Case Lake pegmatite swarm consists of six
spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West
Joe Dyke on a new tonalite dome. 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
.
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.
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. 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 & CEO
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 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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For further information:
Power Metals Corp., Johnathan More, 515-401-7479,
CO: POWER METALS CORP
CNW 08:00e 08-SEP-22