Power Metals Signs Drill Contract FOR Case Lake
POWER METALS SIGNS DRILL CONTRACT
FOR CASE LAKE
VANCOUVER, BC
,
May 31, 2022
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
")
(TSX:
PWM
) (FRANKFURT: OAA1) (OTC: PWRMF)
is pleased to announce that it has
a signed a drill contract with Missinaibi Drilling Services Ltd,
Timmins, Ontario
("Missinaibi") for
Power Metals' 100% owned Case Lake Property,
Cochrane
, northeastern
Ontario
. Missinaibi is
100% Aboriginal owned and operated with a highly-experienced field team and excellent safety and
environmental standards. Drilling is scheduled to commence
mid-June 2022
.
Power Metals is currently fully-funded for 20,000 meters of drilling. Phase one of the program will
consist of 5,000 meters and comprise of approximately 50 shallow drill holes on the Case Lake
Property focusing on the Li-Cs-Ta West Joe Dyke (Figure 1). The objective of the drill program will
be to expand the lithium-cesium-tantalum (Li-Cs-Ta) mineralization previously discovered at West
Joe during the 2018 drill program. The West Joe Dyke will be tested along strike and down dip, as it
is currently open in all directions. Spodumene (Li ore) and Ta-oxide minerals occur in outcrop on the
surface of the West Joe Dyke and pollucite (Cs ore) was intersected in drill core. Li-Cs-Ta are all on
Canada's
and
Ontario's
Critical Minerals list.
Johnathan More
, Chairman and CEO of Power Metals commented, "We are thrilled to begin drilling
again at our 100% owned Case Lake property. Dr.
Julie Selway
, along with our partners Sinomine
Resource Group, have been eagerly waiting to get back in the field to continue expanding our world-
class lithium, cesium and tantalum discovery."
Previous drilling on the West Joe Dyke intersected exceptionally high-grade Li and Ta intervals:
3.88 % Li
2
O, 925 ppm Ta over
1.0 m
, PWM-18-111
3.43 % Li
2
O, 264 ppm Ta over
1.05 m
, PWM-18-
111B
3.07 % Li
2
O, 611 ppm Ta over
1.0 m
, PWM-18-116
3.88 % Li
2
O, 232.0 ppm Ta over
0.82 m
, PWM-18-124
3.20 % Li
2
O, 468.93 ppm Ta over
2.10 m
, PWM-18-123
Cesium (Cs) mineralization was intersected in 6 drill holes on West Joe Dyke: PWM-18-111, 112,
116, 123, 124 and 126. Cesium (Cs) mineralization was also intersected in exceptionally high-grade
Cs intervals:
14.70 % Cs
2
O over
1.0 m
, PWM-18-126
12.40 % Cs
2
O over
1.0 m
, PWM-18-112
6.74 % Cs
2
O over
5.0 m
, PWM-18-126.
Power Metals has received an exploration permit (PR-22-000035) for drilling on its Case Lake
Property from Ministry of Northern Development, Mines, Natural Resources and Forestry. The
exploration permit is valid for three years.
Power Metals has drilled approximately 13,000 meters on the spodumene-rich pegmatite dykes to
date at Case Lake with
5,400 m
and 50 drill holes on Main, North, new dykes and South Dyke in
summer 2017.
3,020 m
and 33 drill holes on Northeast Dyke in the winter 2018.
4,571 m
and 44 drill
holes on Main, South, East Dyke Extension and West Joe Dyke in summer 2018.
In addition to drilling, Power Metals will also complete geological mapping along the 10 km
mineralization trend from West Joe Dyke to Main Dyke to Northeast Dyke to Dome 9 and to
Abbotsford Dome (Figure 1). Dome 9 was discovered 2.7 km northeast of the Main Dyke by
mapping in the summer of 2018 and has not yet been drilled. Dome 9 has three lithium pegmatite
dykes: two of which contain spodumene and one contains lepidolite (Li ore minerals). Drilling on the
North and Main Dykes indicated that the spodumene pegmatites are hosted by dome-shaped
laccoliths. Power Metals is eager to explore their
Abbotsford
,
Joe Creek
, Kenning and Circle Lake
domes acquired in
May 2020
in search of additional spodumene pegmatites.
Figure 1.
Case Lake domes and mineralization trend (CNW Group/POWER METALS CORP)
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 then
shipped to SGS analytical lab in
Lakefield, Ontario
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, 646-661-0409,
CO: POWER METALS CORP
CNW 08:00e 31-MAY-22