Power Metals Intersects Spodumene in First 8 Holes at Case Lake
Power Metals Intersects Spodumene in First 8
Holes at Case Lake
VANCOUVER, BC
,
July 12, 2022
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
") (TSXV: PWM) (FSE: OAA1) (OTCQB: PWRMF) is pleased to provide an update on
our recently commenced drill program at the Company's 100% owned Case Lake Property. The
Company has completed an initial 8 drill holes on the Case Lake lithium property and has intersected
substantial spodumene (lithium ore mineral) mineralization in every hole. A total of 4 drill holes
(PWM-22-128 to 131) were completed for a total of
256 m
on the West Joe Dyke. A total of 4 drill
holes (PWM-22-132 to 135) were completed for a total of
435 m
on the Main Dyke. The purpose of
each drill hole was to infill on known mineralization to aid in a future resource estimate. These holes
are part of Power Metals' fully-funded 5,000 meter 2022 summer drill program at Case Lake.
Johnathan More
, Chairman & CEO of Power Metals, commented "Drilling continues at our Case
Lake property as we eagerly await assay results for the initial 8 drill holes of the 2022 program.
Our visual interpretations of the drill core look spectacular and we will immediately release the assay
results as soon as they are received. We are extremely excited with the drilling to date as we will
continue to expand our world-class lithium, cesium and tantalum discoveries on the West Joe and
Main Dykes. Additionally, we are continuing our geological mapping program of the additional 12
tonalite domes identified on the property."
West
Joe Dyke
drill holes PWM-22-128 to 131 are along section following the West Joe Dyke down
dip. These holes intersected spodumene (Li) and lepidolite (Li):
17.56-
24.40 m
, interval
6.84 m
, spodumene and lepidolite, PWM-22-128, spodumene is up to 9
x 3 cm in size (Figure 1)
23.88-
25.84 m
, interval
1.96 m
, spodumene, PWM-22-129, spodumene is up to 5 x 2 cm in size
36.51-
43.02 m
, interval
6.51m
, spodumene, PWM-22-129, including
0.7 m
with about 20 volume
% spodumene
54.21-
57.18 m
, interval
2.97 m
, spodumene, PWM-22-130, including
0.29 m
with about 25
volume % spodumene (Figure 2)
61.83-
64.09 m
, interval
2.26 m
, spodumene, PWM-22-131, including
1.3 m
with about 10-15
volume% spodumene
Purple lepidolite (Li) vein at 19.9 m, PWM-22-128, West Joe Dyke (CNW Group/POWER METALS
CORP)
Figure 1 Purple lepidolite (Li) vein at
19.9 m
, PWM-22-128, West Joe Dyke
White spodumene at 55 m in the top row and white coarse-grained cleavelandite in the second row,
PWM-22-130, West Joe Dyke (CNW Group/POWER METALS CORP)
Figure 2 White spodumene at
55 m
in the top row and white coarse-grained cleavelandite in the
second row, PWM-22-130, West Joe Dyke
Main Dyke drill holes PWM-22-132 to135 intersected wide zones of spodumene pegmatite on the
Main Dyke:
2.05-
27.64 m
, interval
25.59 m
, PWM-22-132, including
9.5 m
of 10 volume % spodumene
37.42-
65.41 m
, interval
27.99 m
, PWM-22-133, including
6.6 m
of 15 volume % spodumene
19.65-
25.5 m
, interval
5.85 m
, PWM-22-134 with 15 volume % spodumene (Figure 3)
25.5-
28.1 m
, interval
2.6 m
, PWM-22-134, quartz core with coarse-grained white spodumene
(Figure 3)
28.1-
36.2 m
, interval
8.1 m
, PWM-22-134, including
5.75 m
of 25 volume % spodumene
40.76-
48.37 m
, interval
7.61 m
, PWM-22-134, including
2.74 m
of 25 volume % spodumene
6.33-
32.53 m
, interval
26.2 m
, PWM-22-135, including
13.45 m
of < 15 volume % spodumene
Visual mineral estimates of spodumene content does not necessarily indicate Li
2
O % grade in
assays. Drill core samples from PWM-22-132 have been cut and submitted to SGS Cochrane lab
for preparation and assay. Assays are pending and will be disclosed once received.
Abundant green spodumene in top core box and white and green spodumene in bottom box, last row
is quartz core with coarse-grained spodumene, boxes 5 and 6, 20-29 m, PWM-22-134, Main Dyke.
(CNW Group/POWER METALS CORP)
Figure 3 Abundant green spodumene in top core box and white and green spodumene in bottom box,
last row is quartz core with coarse-grained spodumene, boxes 5 and 6, 20-
29 m
, PWM-22-134,
Main Dyke.
Drill holes PWM-22-132 to 135 also intersected the new spodumene dyke below the Main Dyke:
56.02-
57.95 m
, interval
1.93 m
, PWM-22-132
85.07-
85.8 m
, interval
0.73 m
, PWM-22-133
47.14-
47.81 m
, interval
0.67 m
, PWM-22-135
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 will be
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.
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 12-JUL-22