Power Metals Intersects Two New High Grade Spodumene Dykes Near Surface
Power Metals Intersects Two New High Grade Spodumene Dykes Near Surface
VANCOUVER, BRITISH COLUMBIA – (November 27 th, 2017) - Power Metals Corp. ("Power
Metals Corp. " or the " Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) (OTC:AOUFF) is
pleased to announce the completion of a successful drill prog ram for a total of 5400.08 m etres
comprising of 50 drill holes at its’ Case Lake Property, east of Cochrane, Ontario (Figure 3). The
Company increased the overall meterage of the drill program by 400 m to target newly
discovered spodumene dykes. Assays are pending.
Power Metals’ exploration team discovered two new spodumene pegmatite dykes located
between the Main Dyke and the South Dyke. The first new dyke was intersected in hole #42 and
#43 ( PWM-17-42 and PWM -17-43) with locally up to 30% spodumene. The exploration team
then targeted the new dyke to intersect it again in hole #44 and #49 (PWM-17-44 and PWM-17-
49) (Figure 1). A review of the 3D model indicates that we also intersected it at the bottom of
hole #40 and #41 ( PWM-17-40 and PWM-17-41). This new dyke is located 20 -40 m down hole
from the Main Dyke and 35 -40 m vertical depth from the surface. This dyke has similar
mineralogy to the Main Dyke with aplite border zone, spodumene granite and quartz +
spodumene core zone. The second new spodumene pegmatite dyke was intersected in hole
#42 and #49 ( PWM-17-42 and PWM -17-49). It is located 50 m down hole from the Main Dyke
and 50-80 m ve rtical depth from surface. Both new dykes are o pen in all directions. Drilling in
the winter will be performed to define these new dykes.
Dr. Julie Selway, VP of Exploration stated “The discovery of two new dykes between Main and
South Dyke suggests that there is more lithium mineralization to be found near the Main Dyke.
We now have several drill holes on the Main Dyke confirming the wide intersections of
continuous pegmatite close to surface. This recent discovery can substantially increase the size
of our total resource.”
The final drill hole of the program, hole #50 (PWM-17-50), was a shallow hole on the Main Dyke
and it intersected 32.02 m of continuous pegmatite (11.18 to 43.2 m) (Figure 2). The pegmatite
was zoned with 20 -25% coarse-grained spodumene over 13.74 m followed by 3.39 m of quartz
core and followed by 11.75 m of 20-25% coarse-grained spodumene.
“The Company is eagerly a waiting results from a large number of assays. The assays were
shipped to Actlabs in Timmins, Ontario. Actlabs h as been delayed for all companies due to high
volume and mechanical setbacks. Nevertheless, we will announce these pending assays ,
including these new high grade holes , as soon as they are readily available” stated Power
Metals CEO Brent Butler, P.Geo..
The Main Dyke Zone is consistently 30 -35 m wide and is composed of either one continuous
pegmatite dyke close to surface or multiple pegmatite dykes at depth. The Main Dyke is actually
two dykes along the same strike: east part and west part. The high- grade lithium zones within
the Main Dyke pegmatite are the intermediate zone (muscovite -quartz-albite-K-feldspar), the
fine-grained spodumene granite zone (quartz- albite-K-feldspar) and the quartz core (± K -
feldspar). The spodumene granite seems to be more common in the west part than the east
part. The intermediate zone and quartz core occurs in both east and west parts.
The Company is excited to announce a 2000 m drill program on the Northeastern Dyke
commencing the first week of January 2018. This drill program is fully funded and will drill the
newly found structure located 900 m northeast and along strike of the recently completed drill
program (See news release dated Nov. 13 th, 2017). Power Metals discovered up to 40%
spodumene on surface open in all directions at this new location.
Figure 1 PWM-17-44, Boxes 12 to 17, photo of new spodumene pegmatite dyke below the Main Dyke. Note abundant pale green
spodumene in quartz core in boxes 13 and 14.
Figure 2 PWM-17-50 Main Dyke continuous pegmatite from 11.18 to 43.2 m. Note abundance of spodumene in boxes 3 and 4
and 7 to 9. Quartz core is in boxes 5 and 6.
Figure 3 Case Lake drill plan map.
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. (CSE:XMG).
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 Na tional Instrument
43-101 report has been prepared on Case Lake Property and filed on July 18, 2017.
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 & 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.
Power Metals Corp.
Johnathan More
646-661-0409
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