Power Metals Provides Exploration Update Across Ontario and Quebec
POWER METALS PROVIDES EXPLORATION
UPDATE ACROSS ONTARIO AND QUEBEC
VANCOUVER, BC
,
July 9, 2024
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the "
Company
")
(TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce an update on
exploration activities across its
Ontario
and
Quebec
properties. The Company engaged Pioneer
Exploration to conduct a low-level, high-resolution Magnetic Drone Survey at the southern portion of
the Case Lake property. The Company has also mobilized a geological team to conduct field work
at its Decelles and Mazerac properties in
Quebec
. In addition, Woodland Heritage Northeast has
commenced Phase II of an Archeological Survey at Case Lake. The Company has also been
developing key target areas at Case Lake with Southern Geoscisence Consultants who have
completed a structural and lithological interpretation identifying additional high-priority targets as
highlighted below:
STRUCTURAL WORK AT CASE LAKE
Southern Geosciences Consultants ("SGC") of
Perth, Australia
completed a geological review of
Power Metals' historical and recent exploration data that enabled the development of an updated
structural and lithological model for the property. In addition, SGC identified thirteen untested
Lithium-Cesium-Tantalum ("LCT") pegmatite prospective target areas, which the Company plans to
follow-up with field exploration and drilling during its summer 2024 field season (Figure 1).
Figure 1 – Priority One and Two Targets Identified at the Case Lake Property (CNW Group/Power
Metals Corp.)
QUEBEC
FIELD WORK
Power Metals has mobilized a team of geologists at its 100% owned Decelles and Mazerac
properties in northwestern
Quebec
and completed our maiden field exploration activities on the
properties. Historical and recent exploration work completed across the region, including within
Power Metals' claims, has defined LCT pegmatite prospective geology in Decelles and Mazerac
(Figure 2).
Figure 2 – Field Team on Access Track at Mazerac in Quebec (CNW Group/Power Metals Corp.)
Field exploration activities conducted over a 30-day period was based out of Winsome Resources
Val-d'Or office. The field program focused on field mapping, prospecting, and outcrop sampling
where more than 200 outcrops were examined across the two properties and samples collected for
assay and geochemical analysis (Figure 3). A secondary phase of field work is currently being
planned upon review of the analytical data.
Figure 3 – Sampling of a Pegmatite at Mazerac in Quebec (CNW Group/Power Metals Corp.)
QUEBEC
FIRST NATIONS
Our CEO, Haydn Daxter and VP of Exploration,
Amanuel Bien
visited the Lac Simon First Nation
community and met with Chief
Lucien Wabanonik
, Deputy Chief
Danny Pien
, and Liaison Gaetan
Lefebvre to provide information on the Company's early-stage exploration work at Decelles and
Mazerac (Figure 4).
Figure 4 – Administration Offices at Lac Simon First Nation Community, Quebec (CNW
Group/Power Metals Corp.)
MAGNETIC DRONE SURVEY
Pioneer Exploration Consultants of
Ottawa
completed the previously announced high-resolution
drone-based magnetic survey at Case Lake. A total of 944 km was completed with the low-level,
high-resolution magnetic data that was collected at 25-meter line spacing. The survey covered high-
priority target areas that occur on the main Case Lake mineralization corridor that extends from
Dome Nine in the east to West Joe in the West (Figure 5).
Figure 5 – Drone Survey being conducted at Case Lake (CNW Group/Power Metals Corp.)
ARCHEOLOGICAL SURVEY AND WATER SAMPLING PROGRAM AT CASE LAKE
The Company initiated archaeological studies and will shortly commence surface water sampling
programs at Case Lake in collaboration with Apitipi Anicinapek Nation in the region. The
archeological study is part of our ongoing commitment to working with the First Nation community to
identify any areas of significance prior to exploration or disturbance being conducted (Figure 6 - 7).
The Company has also engaged a
Timmins, ON
based environmental consultancy company to
facilitate a two-day training program with members of the Apitipi Anicinapek Nation who will conduct
bi-annual water sampling at Case Lake as part of baseline studies.
Haydn Daxter, Power Metals' CEO commented "I am extremely pleased to announce we are
working on a number of field programs in both
Ontario
and
Quebec
in conjunction with our local
First Nation communities. This work will greatly assist the Company as we move forward and at
the same time prepare for our Phase II drilling at Case Lake to commence later this year".
Figure 6 – Drone Image of the Archaeological Study Area at Case Lake (CNW Group/Power Metals
Corp.)
Figure 7 – Archaeological Team at Case Lake (CNW Group/Power Metals Corp.)
Johnathan More
, Chairman and Founder of Power Metals commented "We are very pleased by the
level of exploration progress at Case Lake and in
Quebec
with our summer programs. At the same
time the increased level of interest in Cesium was evident at Fast Markets in
Las Vegas
last month
for the Company. Power Metals is fully-funded to continue exploration and drilling activities
through the rest of 2024."
Case Lake Property
The Case Lake Property is located 80 km east of
Cochrane
, northeastern
Ontario
close to the
Ontario
-
Quebec
border. The Property consists of 585 cell claims in Steele, Case, Scapa, Pliny,
Abbotsford
and Challies townships, Larder Lake Mining Division. The Property is 10km by 9.5km in
size with 14 granitic domes. The Case Lake pegmatite swarm consists of six spodumene dykes
known as the North, Main, South, East and Northeast dykes on the Henry Dome, and the West Joe
dyke on a new dome, collectively forming mineralization trend that extends for approximately 10km
(Figure 8).
Power Metals have completed several exploration campaigns that have led to the discovery and
expansion of new and historic spodumene bearing LCT pegmatites at Case Lake. The Company has
drilled a total of 19,607 meters of core between 2017 and 2024 at the Property. 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
(Figure 8).
Pelletier Property
The Pelletier Property is located 50km south of
Hearst
, northeastern
Ontario
close to a network of
forestry roads. The Property consists of 337 mineral claims that account for a total of 7000 hectares
in Franz, Roche, Scholfield, and Talbot townships in the Porcupine mining division. The Pelletier
Project is characterized by LCT prospective S-type pegmatitic granites intruding into
metasedimentary and amphibolite of the Quetico at or near Archean terrane boundary between the
Quetico and
Wawa
sub-provinces (Figure 8).
Decelles Property
The Decelles Property contains 669 claims, covering 38,404 hectares of LCT prospective ground
near the mining centers of Val-dÓr and
Rouyn-Noranda
, approximately 600km from
Montreal
. Power
Metals acquired the Decelles and Mazerac properties from Winsome Resources in 2023 in a deal
that allowed Winsome to increase its stake to 19.59% (Refer to press release announced on
August 24, 2023
). The geology of Decelles property is part of the Archean Pontiac sub-province
where S-type LCT prospective, pegmatite bearing, granitic Decelles Batholith intrudes into
metasedimentary units of the Pontiac Group. Spodumene and Beryl bearing pegmatites have been
reported historically within the
Pontiac
sub-province in association with S-type garnet-muscovite
granite. The Decelles property is adjacent to Vision Lithium's Cadillac property where discovery of
high-grade lithium pegmatites was reported in 2022 (Figure 8).
Mazerac Property
The Mazerac Property is located approximately 30 km east of Power Metals' Decelles property near
well-established mining camps in the Abitibi region of
Canada
and is accessible by network of
mining-grade forestry roads. The Mazerac property contains 259 claims that cover 14,700 hectares
of LCT prospective ground near the mining center of Val-dÓr and
Rouyn-Noranda
. The regional
geology of Mazerac is similar to Decelles where S-type LCT prospective, pegmatite bearing,
granites of Decelles Batholith intrude into metasedimentary units of the Pontiac Group. Spodumene
and Beryl bearing pegmatites have been reported historically within the
Pontiac
sub-province in
association with S-type garnet-muscovite granite (Figure 8).
Figure 8 – Map of Power Metals current project in northeastern Ontario and northwestern Quebec,
Canada (CNW Group/Power Metals Corp.)
Pollucite and Cesium
Pollucite is a rare mineral that hosts high-grade cesium and is associated with highly fractionated,
rare element pegmatites. The main source of cesium known globally is pollucite
(Cs,Na)
(Al
Si
O
)•2H
O, (
https://www.gov.mb.ca/iem/geo/industrial/pollucite.html
). Currently the
Tanco mine in
Manitoba, Canada
is the only operating cesium deposit and holds over 60% of the
known reserves globally.
Scientific and Technical Disclosure
The scientific and technical disclosure included in this news release has been reviewed and
approved by
Amanuel Bein
, P.Geo., Vice President of Exploration for Power Metals, a Qualified
Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Exploration
data was collected and verified following the guidelines outlined in CIM's Mineral Exploration Best
Practice Guidelines.
Power Metals
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
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 onwww.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 08:30e 09-JUL-24