Power Metals to Conduct Field Program This Summer at Decelles and Mazerac IN Collabiration with Winsome Resources
POWER METALS TO CONDUCT FIELD
PROGRAM THIS SUMMER AT DECELLES AND
MAZERAC IN COLLABIRATION WITH
WINSOME RESOURCES
VANCOUVER, BC
,
April 9, 2024
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the "
Company
")
(TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTC: PWRMF) is pleased to provide an exploration
update on our planned 2024 summer field program in collaboration with Winsome Resources at our
Decelles and Mazerac properties in
Quebec
. Along with an exploration update on drilling at the
Company's Case Lake property, which is over halfway completed for the
4,000m
winter program.
Haydn Daxter, Power Metals CEO commented "We are extremely excited to be working in
collaboration with such a highly skilled team at Winsome Resources as we conduct our summer
field program in
Quebec
at our Decelles and Mazerac properties. Having visited the Winsome
offices, met with the team, and conducted a site visit earlier this year highlighted the professional
standards and caliber of the Winsome team. Power Metals will target a field mapping program to
include out crop sampling and a series of soil samples across each as we look to unlock the
potential in both properties."
QUEBEC
SUMMER PROGRAM
The Company has developed its 2024 exploration strategy for its early-stage properties in
Quebec
with Decelles and Mazerac with an expected commencement in June of this year. Following on from
the executive management team's site visit to the
Val-d'Or
with Winsome Resources (Figure 1) both
companies plan to collaborate in executing the Company's exploration strategy in
Quebec
which will
include utilization of part of Winsome's exploration team to conduct field exploration programs in the
coming months. The Company is also conducting a review at each property with historical
geophysical data, geological data, and LiDAR data in developing its geological model and target
areas for the summer program.
Figure 1 – Power Metals CEO, Haydn Daxter with Winsome VP Exploration Antoine Fourier, and
Power Metals VP Exploration Amanuel Bein (R-L) (CNW Group/POWER METALS CORP)
CASE LAKE DRILLING
The Company has completed 2,088 meters for seventeen (17) drill holes of the planned 4,000-meter
drill program at West Joe and Main Zone. Drilling has continued at the West Joe deposit with
continued coarse to very coarse spodumene present along with pollucite mineralization that is
associated to high grade cesium mineralization (Figure 2). West Joe appears as a highly
fractionated pegmatite anomaly that is conducive to pollucite and high grade cesium (Press release
reported on
April 2, 2024
). The continued visual presence of coarse grained spodumene
mineralization and pollucite at West Joe from our current drill program is very encouraging for the
Company as we continue to grow the known spodumene and cesium mineralized anomaly.
Figure 2 – West Joe drill core with coarse grained spodumene and pollucite mineralization, (images
1-2) Drill hole PWM24-172, (images 3-4) Drill hole PWM24-177 (CNW Group/POWER METALS
CORP)
The Company will commence a series of regional step out exploration holes at West Joe with 200-
meter centers from the current mineralized zone on the property, these exploration holes will run
east and west of the West Joe deposit along the same structural trend that has been identified by
the Company.
Once the drilling has been completed at West Joe the Company will conduct a series of regional
exploration holes to the west of the Main Zone, these will target a region that to date remains
untested between the Main Zone and West Joe on the Case Lake property (Figure 3). Drilling will
remain ongoing at Case Lake throughout April and the Company expects to complete the planned
4,000 meters by the end of the month.
Figure 3 – Map of the Case Lake project in northeastern Ontario, Canada (CNW Group/POWER
METALS CORP)
Johnathan More
, Chairman of Power Metals commented "We are extremely pleased with the
progress of drilling to date along with the visual intercepts of spodumene and pollucite
mineralization from our Case Lake drilling program. Along with our collaboration planned with the
highly skilled team at Winsome Resources, this will add further value to our Decelles and Mazerac
properties as part of our early-stage exploration work commences. Assays remain on track for
later this month and the Company is well positioned to fund further exploration throughout the
year."
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 4).
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 15,700 meters of core between 2017 and 2022 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 4 – Map of Power Metals current project in northeastern Ontario and northwestern Quebec,
Canada (CNW Group/POWER METALS CORP)
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.
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.
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.
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.
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, 646-661-0409,
CO: POWER METALS CORP
CNW 08:30e 09-APR-24