Power Metals Intersects Significant Lithium Mineralization IN First Thousand Metres of Drill Program
POWER METALS INTERSECTS SIGNIFICANT LITHIUM MINERALIZATION IN FIRST
THOUSAND METRES OF DRILL PROGRAM
VANCOUVER, BRITISH COLUMBIA – (September 21st, 2017) - Power Metals Corp. ("Power
Metals Corp. " or the " Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) is pleased to
announce that ongoing drilling has successfully intersected significant lithium mineralization at
the Company’s Case Lake Property. Power Metals has an 80% interest with its 20% working
interest partner MGX Minerals Corp. (CSE:XMG). The Case Lake drill target area consists of a
pegmatite dyke swarm: North, Main and South Dykes as well as multiple unnamed pegmatite
dykes. Drill hole PWM -17-08 intersected 35.22 m of continuo us spodumene pegmatite as part
of the Main Dyke with very coarse -grained spodumene crystals up to 10 cm long. A total of 12
drill holes have been drilled to date. With the exception of hole 3, all drill holes intersected
spodumene bearing pegmatite (Table 1, Figure 7). Assays are pending. The drill program
targeted downdip extension of North, Main and South Dykes in an area of known
mineralization and the east and west along strike extension of the three Dykes in areas with no
previous drill holes. This drill program has also successfully drilled the first ever holes on the
South Dyke.
Johnathan More, Chairman of Power Metals stated, “We couldn’t be more pleased with our
progress on the drill program to date and eagerly await assay results to confirm our
interpretation of the potential tonnage and grade at Case Lake. With our drill program set for a
minimum of 5,000 metres, we expect the balance of the drill program to be completed by the
end of October, at which point we will quickly aim to deliver a 43-101 compliant resource
calculation to the market.”
Preliminary highlights include:
Drill holes PWM-17-08, 09 and 10 are the best drill holes of the program so far (Table 2). These
holes were designed to test the up and down dip extension of the Main Dyke.
• PWM-17-08 intersected continuous spodumene pegmatite from 18.86 to 54.08 m for an
interval of 35.22 m of the Main Dyke (Figures 1 and 2).
• PWM-17-09 intersected continuous spodumene pegmatite from 26.5 to 60.0 m for an
interval of 33.5 m of the Main Dyke. This intersection included a 42 cm long x 2 cm wide
pale green spodumene blade (Figures 3 to 6).
• PWM-17-10 intersected spodumene pegmatite from 33.83 to 62.05 m for an interval of
28.22 m of Main Dyke. This interval includes two sections of Case Batholith host rock: 2.99
m and 0.62 m long.
Drill holes PWM-17-01, 02 and 03 successfully intersected the Main and South Dykes as part of
the western extension of the strike length of both Dykes.
• These holes extended the Main Dyke Zone lithium mineralization 152 m to the west from
historic drilling. These were the first holes ever drilled on the South Dyke and were designed
to test for lithium mineralization at depth. Assays are pending.
• Pegmatite dykes were intersected within a few meters of our predicted intersections based
on our 3D model which gave us confidence in the 3D model.
• The Main Dyke Zone in PWM-17-02 was intersected from 53.10 to 88.84 m for an interval of
35.74 m. The Zone consisted of a 10.4 m long spodumene pegmatite dyke with up to 25
vol% very coarse -grained spodumene, a 2.99 m long aplite dyke, and multiple other thin
aplite dykes. Assays are pending. ( Visual estimates of spodumene vol% do not always
equate to Li2O % grade.)
Drill holes PWM-17-04 and 05 were designed to test the downdip extension of North and Main
Dykes downdip of historic hole DDH-5.
• Drill hole PWM-17-04 intersected 1.7 m of North Dyke. The Main Dyke Zone was intersected
from 75.2 to 107.55 m f or an interval of 32.35 m. The Main Dyke Zone consisted of 3
spodumene-bearing dykes up to 12.8 m long, one pegmatite dyke and one aplite dyke. One
dyke within of the Main Dyke Zone is a 1.85 m long spodumene dyke which contains 30 -40
vol% pale green coars e-grained spodumene. Assays are pending. ( Visual estimates of
spodumene vol% do not always equate to Li2O % grade.)
Drill holes PWM -17-06 and 07 were designed to test the downdip extension of the Main Dyke
downdip from historic hole DDH -2. Drill hole PWM -17-06 intersected 9 m of spodumene
pegmatite.
Drill holes PWM -17-11 and 12 were designed to test the eastern extension of the Main Dyke
along strike. These holes intersected multiple pegmatite dykes hosted by metasedimentary
rocks.
Summation of Significant intersections of spodumene pegmatite at the Main Dyke, Case Lake
Drill Hole From (m) To (m) Interval (m) Lithology
PWM-17-02 53.10 63.50 10.40 spodumene pegmatite
PWM-17-04 75.20 88.00 12.80 spodumene pegmatite
PWM-17-06 82.00 91.00 9.00 spodumene pegmatite
PWM-17-08 18.86 54.08 35.22 continuous spodumene pegmatite
PWM-17-09 26.50 60.00 33.50 continuous spodumene pegmatite
PWM-17-10 33.83 62.05 28.22 spodumene pegmatite including a
total of 3.61 m of tonalite
Figure 1 PWM-17-08 Main Dyke spodumene pegmatite, Box 5 to 8, 18.14 to 35.44 m.
Figure 2 PWM-17-08 Main Dyke pegmatite, Box 9 to 12, 35.44 to 53.08 m.
Figure 3 PWM-17-09 Main Dyke pegmatite, Box 5 to 8, 18.28 to 36.02 m
Figure 4 PWM-17-09 Main Dyke pegmatite, Box 9 to 12, 36.02 to 53.65 m
Figure 5 PWM-17-09 Main Dyke pegmatite, Box 13 to 16, 52.65 to 70.86 m.
Figure 6 PWM-17-09 Main Dyke 42 cm long spodumene blade near 32 m.
Table 1. Power Metals 2017 Case Lake drill hole collar location. UTM NAD83, Zone 17.
Drill hole
Easting
(m)
Northing
(m)
Elevation
(m)
Depth
(m)
Azimuth
(°) Dip (°)
PWM-17-01 578021.1 5431600.4 346.6 155 150 45
PWM-17-02 578002.1 5431633.2 346.8 183 150 45
PWM-17-03 577982.4 5431671.5 343.2 212 150 45
PWM-17-04 578118 5431734 347 140 150 45
PWM-17-05 578117.6 5431735 347 138 150 70
PWM-17-06 578167 5431769 347 140 150 45
PWM-17-07 578167 5431769 347 133 150 68
PWM-17-08 578208 5431702 350 70 150 45
PWM-17-09 578208 5431702 350 75 150 82
PWM-17-10 578152 5431675 350 100 150 45
PWM-17-11 578247 5431750 349 90 150 45
PWM-17-12 578254 5431798 349 120 150 45
True mineralization thickness is not yet known.
Figure 7 Case Lake drill plan and detailed outcrop map.