Power Metals to Commence Maiden Resource Estimate and Provides Summary of 2018 Exploration Activities at Case Lake
Power Metals to Commence Maiden Resource Estimate and Provides
Summary of 2018 Exploration Activities at Case Lake
VANCOUVER
,
Dec. 4, 2018
/CNW/ -
Power Metals Corp.
("
Power Metals Corp.
" or the "
Company
") (TSX VENTURE:PWM)(FRANKFURT:OAA1)
(OTC:PWRMF) is pleased to announce that we have completed our 2018 drill program and have received all assays for the drill core. We are excited and
confident that the drilling has delineated substantial high-grade Lithium mineralization suitable for a resource estimate. We are preparing the data for a resource
estimate which is scheduled to be completed in Q1 2019. We congratulate our exploration team on a successful year and we look forward to continued success in
2019.
Figure 1 PWM-18-84, boxes 1 to 6, 2-25.90 m, spodumene pegmatite with 1.42 % Li2O over 19.17 m (boxes 1 to 5) and quartz core (box 6), Main Dyke, Case
Lake. (CNW Group/POWER METALS CORP)
Dr.
Julie Selway
, VP of Exploration, stated "Having been on 90% of all lithium bearing pegmatites in the province of
Ontario
, I can safely say that Case Lake
pegmatites have the best economic potential in a publicly traded company that I have seen in all my years. I am grateful to Power Metals' exploration team and all
of their discoveries of new lithium mineralization, especially West Joe Dyke. I am looking forward to our maiden resource estimate at Case Lake and another
successful year in 2019."
Power Metals is pleased to provide a summary of our exploration activities for 2018 for our flagship Lithium (Li) and Tantalum (Ta) property Case Lake, Ontario.
Highlights for this calendar year include:
3020.0 m
, 33 drill holes on Northeast Dyke
4571 m
, 44 drill holes on Main, new dykes, East and West Joe Dykes
Discovery of West Joe Li-Ta-Cs spodumene pegmatite
1195.73 m
, 18 holes on West Joe Dyke
Discovery of spodumene on Dome 9
Assay highlights include:
1.09 % Li
2
O, 118 ppm Ta over
6.0 m
, from 25.0 to
31.0 m
, PWM-18-71, Northeast Dyke
1.42 % Li
2
O, 158 ppm Ta over
19.17 m
, from 2.00 to
21.17 m
, PWM-18-84, Main Dyke
1.17 % Li
2
O, 193 ppm Ta over
27.16 m
, from 54.84 to
82.00 m
, PWM-18-84, Main Dyke
1.92 % Li
2
O over
1.05 m
, from 68.62 to
69.67 m
, PWM-18-85, new dykes between Main and South Dykes
West
Joe Dyke
intersected exceptionally high-grade lithium intervals:
3.88 % Li
2
O, 925 ppm Ta over
1.0 m
, from 11.0 to
12.0 m
, PWM-18-111
3.43 % Li
2
O, 264 ppm Ta over
1.05 m
, from 7.63 to
8.07 m
, PWM-18-
111B
3.07 % Li
2
O, 611 ppm Ta, >10,000 ppm Cs over
1.0 m
, from 46.68 to
47.67m
, PWM-18-116
3.88 % Li
2
O, 232.0 ppm Ta over
0.82 m
, from 42.18 to
43.00 m
, PWM-18-124
3.20 % Li
2
O, 468.93 ppm Ta over
2.10 m
, from 26.60 to
28.70 m
, PWM-18-123
2.85 % Li
2
O, 207.0 ppm Ta over
0.30 m
, from 20.20 to
20.50 m
, PWM-18-123
Northeast Dyke Drilling
In January and February, 2018, Power Metals completed
3020.0 m
and 33 drill holes (PWM-18-51 to 83) on the Northeast Dyke, as a follow up on the discovery
of spodumene megacrysts in the north and south outcrops in the summer of 2017. North outcrop has a pale green spodumene megacryst 30 cm long and 8 to 10
cm wide. South outcrop has a quartz core of the pegmatite dyke which contains up to 40% spodumene megacrysts with cross sections up to 14 cm across. The
Northeast Dyke is located
900 m
northeast along strike of the North and Main Dykes and is within the same tonalite dome as the North and Main Dykes. Since the
Northeast, North and the Main Dykes are along the same strike and within the same dome, this indicates that they were emplaced along the same deep-seated
structure.
Northeast Dyke assay highlights:
PWM-18-71: 1.09 % Li
2
O, 118 ppm Ta over
6.0 m
, from 25.0 to
31.0 m
Including 1.51 % Li
2
O, 140 ppm Ta and 2.52 % Cs
2
O over
1.0 m
interval, from 25.0 to
26.0 m
In June to
September 2018
, Power Metals completed
4571 m
and 44 drill holes (PWM-18-84 to 127) on four drill targets:
Infill drilling on a couple of gaps on the Main Dyke, including longitudinal hole PWM-18-84.
Drilling on new dykes between Main and South Dykes
Extend the strike length of East Dyke on the west side of Case River
Discovery and drilling of West Joe Dyke
Main Dyke Drilling
PWM-18-84 successfully intersected
126.25 m
of pegmatite within the Main Dyke at Case Lake, east of
Cochrane
. The purpose of this longitudinal drill hole was
to test the continuity of the Main Dyke along strike and down dip. PWM-18-84 intersected continuous pegmatite from 2.0 -
128.25 m
. Assay highlights on for
PWM-18-84 include:
1.42 % Li
2
O and 158 ppm Ta over
19.17 m
, interval 2.00 –
21.17 m
(Figure 1)
1.17 % Li
2
O and 193 ppm Ta over
27.16 m
, interval 54.84 –
82.00 m
(Figure 2)
These two high-grade intervals are separated by a quartz core.
Figure 1 PWM-18-84, boxes 1 to 6, 2-
25.90 m
, spodumene pegmatite with 1.42 % Li
2
O over
19.17 m
(boxes 1 to 5) and quartz core (box 6), Main Dyke, Case Lake.
Figure 2 PWM-18-84, boxes 17 to 20, 60.56-
77.82 m
, spodumene granite (boxes 17 to 19) and spodumene pegmatite (boxes 19 and 20), Main Dyke, Case Lake.
Four separate spodumene pegmatite dykes were intersected in drill holes PWM-18-85, 86 and 87 in close proximity to the Main Dyke. Thus, they will add to a
future resource on the Main Dyke.
Assay highlights on the new dykes include:
1.92 % Li
2
O over
1.05 m
, from 68.62 to
69.67 m
, PWM-18-85
1.58 % Li
2
O over
0.67 m
, 63.63 to
64.30 m
, PWM-18-86
1.83 % Li
2
O over
0.97 m
, 30.43 to
31.40 m
, PWM-18-87
The new dykes between the Main and South Dykes are open along strike
East Dyke Drilling
In July/
August 2018
, Power Metals completed 10 drill holes,
987.63 m
(PWM-18-100 to 109) to extend the East Dyke by
320 m
westward from known outcrop.
The East Dyke now has a total strike length of 1.1 km. Power Metals geologists believed that the East Dyke extended on the west side of the Case River even
though it did not outcrop on surface. The East Dyke is only exposed on surface on the east side of the Case River. This was the first drill hole on the East Dyke,
as it was not drilled historically.
West
Joe Dyke Drilling
In
August 2018
, Power Metals geologist discovered West Joe spodumene pegmatite,
790 m
west of Little Joe Lake, 1.6 km southwest of the western edge of
the Main Dyke and 3.0 km southwest of the Northeast Dyke. Two days after the discovery, spodumene was intersected in drill hole PWM-18-111 at West Joe.
Power Metals drilled 18 holes,
1195.73 m
(PWM-18-111 to 127) on West Joe Dyke. Drilling on the West Joe Dyke intersected exceptionally high-grade lithium
intervals:
3.88 % Li
2
O, 925 ppm Ta over
1.0 m
, from 11.0 to
12.0 m
, PWM-18-111 (Figure 3)
3.43 % Li
2
O, 264 ppm Ta over
1.05 m
, from 7.63 to
8.07 m
, PWM-18-
111B
3.07 % Li
2
O, 611 ppm Ta, >10,000 ppm Cs over
1.0 m
, from 46.68 to
47.67m
, PWM-18-116
3.88 % Li
2
O, 232.0 ppm Ta over
0.82 m
, from 42.18 to
43.00 m
, PWM-18-124
3.20 % Li
2
O, 468.93 ppm Ta over
2.10 m
, from 26.60 to
28.70 m
, PWM-18-123
2.85 % Li
2
O, 207.0 ppm Ta over
0.30 m
, from 20.20 to
20.50 m
, PWM-18-123
Longitudinal drill hole PWM-18-123 intersected high-grade Lithium (Li) and Tantalum (Ta) mineralization:
0.72 % Li
2
O and 126.43 ppm Ta over
20.43 m
, from 0.07 to
20.50 m
1.75 % Li
2
O and 385.38 ppm Ta over
10.91 m
, from 23.42 to
34.33 m
These two high grade intervals were separated by
2.92 m
of tonalite. This is a total of
31.34 m
of high-grade Li and Ta mineralization in longitudinal drill hole
PWM-18-123.
Drill hole PWM-18-124 had similar excellent results:
1.45 % Li
2
O and 481.38 ppm Ta over
17.00 m
, 1.00 to
18.00 m
1.87 % Li
2
O and 518.19 ppm Ta over
14.30 m
, 37.50 to
51.80 m
Also, for a total of 31.30 of high-grade Li and Ta mineralization in this longitudinal hole. Power Metals drilled holes PWM-18-123 and 124 parallel to the West Joe
Dyke to confirm the down dip continuity.
In addition to Lithium and Tantalum mineralization, West Joe Dyke also contains Cesium (Cs) mineralization as shown by the presence of pollucite in drill core
(Figure 4) and exceptionally high-grade Cs intervals:
14.70 % Cs
2
O over
1.0 m
, 13.0 to
14.0 m
, PWM-18-126
12.40 % Cs
2
O over
1.0 m
, 10.0 to
11.0 m
, PWM-18-112
6.74 % Cs
2
O over
5.0 m
, 11.0 to
16.0 m
, PWM-18-126
Pollucite is rare in pegmatites in
Ontario
, as it has only been identified in five pegmatite localities in the province: Power Metals owned Case Lake, Tot Lake and
Marko's pegmatites and two other localities. The presence of pollucite in drill core is spatially associated with high-grade Lithium and Tantalum mineralization and
should indicate very low iron contents in the spodumene.
Figure 3 Coarse-grained spodumene at
12 m
, PWM-18-111, West Joe Dyke. Note spodumene crystal with pink rim and green core.
Figure 4 Pale pink to grey pollucite with white veining next to pale green spodumene at
49.5 m
, PWM-18-116, West Joe Dyke.
Exploration Target
West Joe, North, Main and Northeast Dykes occur along a SW-NE trend (Figure 5). As the spodumene mineralization is the same in all four dykes and the dykes
are along the same trend, the 3.0 km area between West Joe, Main and the Northeast Dykes is a large exploration target for potentially more spodumene
pegmatites.
Figure 5 Case Lake Property showing the location of West Joe Dyke, Main Dyke, East and Northeast Dyke drilling.
Mapping
In May to September, 2018, Power Metals also completed a mapping program on 8 of the 9 tonalite domes in search of spodumene pegmatites similar to the
Main Dyke on the Henry Dome. Exploration mapping highlights include:
Identified spodumene in pegmatite on Dome 9.
Discovery of West Joe Dyke on a new dome, not previously identified
Completed DGPS survey to ± 20 cm accuracy of all 127 Power Metals drill holes on the Property
Three new spodumene occurrences were identified along the South Dyke. This is the first time that spodumene has been found on the
320 m
long South
Dyke.
Dome 9 occurs 2.7 km northeast of the Main Dyke and 1.6 km northeast of the Northwest Dyke. A beryl pegmatite
3 m
wide with pale green beryl crystals 7 x 11
cm long was found in the central part of the dome. A
10 m
wide pegmatite dyke with lepidolite, blocky K-feldspar and yellow muscovite was discovered near the
beryl dyke. Seven other pegmatite dykes were also found on Dome 9. All of the pegmatite dykes found to date on Dome 9 have a strike similar to that of the Main
Dyke in the Henry Dome.
Exploration Target
Since all of the pegmatite dykes in Henry Dome and Dome 9, and West Joe Dyke have the same strike and the domes are aligned along the same corridor, this
entire 5.0 km long corridor is an exploration target for addition spodumene pegmatites. The exploration potential for additional spodumene pegmatite dykes to be
found within Dome 9 is high. Exploration plans for Dome 9 are stripping and drilling in the future.
Figure 6 Case Lake geology map showing the location of 9 domes and spodumene discovery on Dome 9.
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
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 six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite
dome. Power Metals has an 80% interest with its 20% working interest partner MGX Minerals Inc.
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 National 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 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
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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
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.
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.
Figure 2 PWM-18-84, boxes 17 to 20, 60.56-77.82 m, spodumene granite (boxes 17 to 19) and spodumene pegmatite (boxes 19 and 20), Main Dyke, Case
Lake. (CNW Group/POWER METALS CORP)
Figure 3 Coarse-grained spodumene at 12 m, PWM-18-111, West Joe Dyke. Note spodumene crystal with pink rim and green core. (CNW Group/POWER
METALS CORP)
Figure 4 Pale pink to grey pollucite with white veining next to pale green spodumene at 49.5 m, PWM-18-116, West Joe Dyke (CNW Group/POWER METALS
CORP)
Figure 5 Case Lake Property showing the location of West Joe Dyke, Main Dyke, East and Northeast Dyke drilling. (CNW Group/POWER METALS CORP)
Figure 6 Case Lake geology map showing the location of 9 domes and spodumene discovery on Dome 9. (CNW Group/POWER METALS CORP)
SOURCE
POWER METALS CORP
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For further information:
Power Metals Corp.: Johnathan More, 646-661-0409, [email protected]
CO: POWER METALS CORP
CNW 03:05e 04-DEC-18