Power Metals' World-Class Cesium Results Continue to Grow at Case Lake
POWER METALS' WORLD-CLASS CESIUM
RESULTS CONTINUE TO GROW AT CASE
LAKE
VANCOUVER, BC
,
June 18, 2024
/CNW/ -
Power Metals Corp.
("
Power Metals
" or the
"
Company
") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to report high-
grade cesium and lithium results on the remainder of exploration drillhole assays from the winter
2024 drill program (the "Program") at its 100% owned Case Lake property (the "Property") in
northeastern
Ontario
. Exploration drilling at the world-class West Joe Prospect has continued to
intersect shallow high grade cesium mineralization up to
24.70%
(PWM24-198) hosted in pollucite.
This is the highest-grade cesium intercept reported to date at West Joe and continues to add
confidence to this unique prospect along with lithium intercepts of
2.00 m
at
3.55% Li
O
(PWM24-
188) and
32.44 m
at 1.40% Li
O
(PWM24-186). In addition, the assay results at the Main Zone
continues to deliver encouraging lithium intercepts with the following highlights:
HIGHLIGHTS
WEST JOE:
PWM-24-201:
7.13 m
at 1.21% Li
2
O, 6.27% Cs
O and 348 ppm Ta
from
14.15 m
Including
5.00 m
@ 1.31% Li
2
O, 8.81% Cs
O and 265 ppm Ta
from
15.00 m
Including
1.00 m
@ 1.02% Li
2
O, 19.40% Cs
O and 108 ppm Ta
from
17.00 m
PWM-24-198:
3.22 m
at 1.76% Li
2
O, 7.32% Cs
O and 140 ppm Ta
from
14.78 m
Including
2.45 m
@ 2.27% Li
2
O, 9.29% Cs
O and 156 ppm Ta
from
15.55 m
Including
0.80 m
@ 0.36% Li
2
O, 24.70% Cs
O and 9 ppm Ta
from
16.20 m
PWM-24-199:
8.11 m
at 1.42% Li
2
O, 4.50% Cs
O and 233 ppm Ta
from
7.12 m
Including
4.50 m
@ 1.42% Li
2
O, 8.03% Cs
O and 242 ppm Ta
from
9.00 m
Including
1.00 m
@ 1.25% Li
2
O, 15.90% Cs
O and 102 ppm Ta
from
11.00 m
PWM-24-189:
8.70 m
at 1.74% Li
2
O, 4.98% Cs
O and 782 ppm Ta
from
14.25 m
Including
5.00 m
@ 1.67% Li
2
O, 8.59% Cs
O and 1116 ppm Ta
from
16.00 m
Including
1.00 m
@ 2.20% Li
2
O, 20.14% Cs
O and 459 ppm Ta
from
18.00 m
PWM-24-202:
7.74 m
at 1.82% Li
2
O, 2.07% Cs
O and 534 ppm Ta
from
8.60 m
Including
5.00 m
@ 1.97% Li
2
O, 3.13% Cs
O and 670 ppm Ta
from
10.00 m
PWM-24-191:
5.32 m
at 1.01% Li
2
O, 2.39% Cs
O and 278 ppm Ta
from
41.00 m
Including
2.00 m
@ 0.61 % Li
2
O, 6.12% Cs
O and 367 ppm Ta
from
41.00 m
PWM-24-186:
32.44 m
at 1.40% Li
2
O, 0.58% Cs
O and 248 ppm Ta
from
10.41 m
Including
1.20 m
@ 0.62% Li
2
O, 8.13% Cs
O and 575 ppm Ta
from
39.80 m
PWM-24-188:
3.47 m
at 2.74% Li
2
O, 4.91% Cs
O and 250 ppm Ta
from
23.03 m
Including
2.00 m
@ 3.55% Li
2
O, 7.46% Cs
O and 196 ppm Ta
from
24.00 m
PWM-24-200:
3.00 m
at 1.68% Li
2
O, 3.83% Cs
O and 1002 ppm Ta
from
11.00 m
Including
1.35 m
@ 2.34% Li
2
O, 4.87% Cs
O and 1474 ppm Ta
from
12.65 m
Including
0.75 m
@ 1.44% Li
2
O, 6.55% Cs
O and 2201 ppm Ta
from
12.65 m
PWM-24-187:
6.32 m
at 1.24% Li
2
O, 0.07% Cs
O and 157 ppm Ta
from
13.28 m
PWM-24-193:
5.65 m
at 1.66% Li
2
O, 0.07% Cs
O and 143 ppm Ta
from
19.35 m
PWM-24-195:
3.53 m
at 1.79% Li
2
O, 0.03% Cs
O and 387ppm Ta
from
49.29 m
CASE LAKE MAIN:
PWM-24-169:
4.00 m
at 0.99% Li
2
O and 186 ppm Ta
from
54.0 m
Including
1.10 m
@ 1.10 % Li
2
O, 1.03% Cs
O and 213 ppm Ta
from
56.90 m
PWM-24-170:
1.60 m
at 1.17% Li
2
O and 97 ppm Ta
from
38.18 m
2024 EXPLORATION DRILL PROGRAM
Exploration results in this news release are the remainder of assays from the outstanding 29 drill
holes completed at West Joe and Main Zone from the Company's winter drill program at Case Lake.
A table of all collars, composites, and prospects is displayed in Table 1.
Haydn Daxter, Power Metals CEO commented "The results to date from West Joe are incredibly
exciting from our winter exploration drilling program that has delivered our highest cesium grades
on the property. This unique and complex prospect not only displays world class cesium with
24.70% and also displayed lithium grades up to 3.55% along with tantalum reported at 2201 ppm
from recent drilling. These results will continue to build on the potential at the property as we
continue our metallurgical test work and prepare for Phase II of drilling this summer".
WEST JOE
The West Joe deposit is a unique, highly fractionated lithium, cesium, tantalum (LCT) pegmatite
system that contains world-class high-grade cesium (Cs
2
O) mineralization hosted in pollucite, along
with high-grade lithium and tantalum (Figure 1). It is characterized by two stacked pegmatites that
are up to 9 meters thick and extend for 100 meters along strike and open down plunge.
Figure 1 – West Joe Collar Location from 2024 Drilling (CNW Group/Power Metals Corp.)
The 2024 winter drill program at West Joe intersected consistent high-grade cesium mineralization in
majority of the holes drilled to define and delineate LCT mineralization at West Joe. Several holes
that include PWM-24-189, 198, 199, and 201 intersected high-grade cesium in pollucite between
11.9% to 24.7%. The high-grade cesium is bound by consistent medium-grade cesium mineralization
between 2% to 9% (Figures 1-3, Table 1). In addition to the high-grade cesium and lithium
mineralization, high-grade tantalum mineralization was intercepted above 500 ppm tantalum in
multiple drillholes (Table 1). PWM-24-186 was drilled to test consistency of LCT mineralization down
dip and plunge of the main dyke at West Joe and confirmed continuity and the widest mineralization
at West Joe to date with 32.4 meters of 1.4% Li
O, 0.58% Cs
O, and 248 ppm Ta.
Exploration drill holes have expanded mineralization along-strike and down-dip at West Joe
intersecting high-grade cesium, lithium, and tantalum in holes PWM-24-175, 176, 185, 187, 191, and
197, indicating an open mineralization system down plunge of West Joe (Figures 1-3, Table 1).
Additional step-out exploration holes drilled to the east and west of West Joe did not intersect
significant mineralization, however, did intersect pegmatites that contain anomalous ore-grade
tantalum mineralization above 100 ppm. Two samples from drill holes PWM-24-179 and 180 drilled
600 meters along strike to the east of West Joe reported 494 and 207 ppm tantalum respectively.
Figure 2 – Cross section of PWM24-198 with results from West Joe drilling from the Company’s
2024 program, along with previously released results from 2022-2024 (CNW Group/Power Metals
Corp.)
Figure 3 – Cross section of PWM24-189 with results from West Joe drilling from the Company’s
2024 program, along with previously released results from 2018 (CNW Group/Power Metals Corp.)
MAIN ZONE
LCT pegmatite mineralization at Case Main is represented as a stacked pegmatite system that is
part of three main dykes, historically referred as South, Main, and North dykes (Figure 4). The high
grade LCT pegmatite system at Case Main is up to 35 meters thick and extends for more than 400
meters along strike. Mineralization continues to 100 meters vertical depth and remains open down
plunge to the west and along strike to the east.
PWM-24-169 and 170 were drilled to extend historic cesium and lithium mineralization from drill hole
PWM-17-49 that reported 3 meters of 1.61% Li
O, 1.35% Cs
O, and 144 ppm Ta. PWM-24-169,
drilled to the east at Main Zone intersected 4 meters of 0.99% Li2O, 0.4% Cs
O, and 186 ppm of
Ta, indicating open mineralization to the east of Main Zone (Figure 4, Table 1). The 3 meter
intercept of LCT mineralization in PWM-24-169 contains 1.1 meters of 1.1% Li
O, 1.03% Cs
O, and
213 ppm of Ta, indicating the potential for cesium mineralization on the south side of the Main dyke
at Case Main.
Figure 4 – Main Zone plan View Map Displaying Collar Location from the 2024 Drilling Program
(CNW Group/Power Metals Corp.)
Johnathan More
, Chairman of Power Metals commented "We are extremely pleased to see drill
assays have added additional high-grade cesium, lithium, and tantalum mineralization at West Joe
to this world-class prospect along with producing consistent lithium results from Main Zone. We
look forward to our ongoing field activities and commencing our fully funded Phase II drill program
in summer at Case Lake."
Table 1 – Summary of Assay Results in Drillholes Reported in this Press Release
Hole ID
Easting
NAD83
Northing
NAD83
Elevation
MASL
Depth
(m)
Dip
Azimuth
NAD83
From
(m)
To
(m)
Significant Intersections
Interval
(m)
Li
2
O
%
Ta
(ppm)
Cs
2
O
(%)
Main Zone
PWM-24-169
578310
5431684
345
201
-45
147
54
58
4
0.99
186
0.39
including
1.10m @ 1.1 % Li
2
O, 1.03% Cs
2
O, & 213 ppm Ta
from 56.9m
146.7
148.8
2.1
0.36
195
0.03
PWM-24-170
578312
5431649
347
141
-45
153
38.18
39.78
1.6
1.17
97
0.04
West Joe
PWM-24-175
576343
5431133
344
72
-45
170
32
36
4
0.08
103
0.02
PWM-24-176
576343
5431133
344
100
-54
152
27.77
30.75
2.98
0.22
14
0.18
PWM-24-178
576435
5431269
337
252
-47
170
no significant mineralization
PWM-24-179
577016
5431116
347
171
-45
170
no significant mineralization
PWM-24-180
576958
5431182
343
171
-45
170
no significant mineralization
PWM-24-181
576810
5431024
346
147
-45
170
no significant mineralization
PWM-24-182
576180
5431131
345
152
-50
170
no significant mineralization
PWM-24-183
576315
5431141
344
72
-45
170
31.37
34.4
3.03
0.85
722
0.03
43.9
50.27
6.37
0.11
117
0.06
PWM-24-184
576318
5431127
344
75
-45
170
23.79
30.04
6.25
0.85
736
0.68
including
3.35m @ 0.6 % Li
2
O, 1.2% Cs
2
O, & 706 ppm Ta
from 26.2m
PWM-24-185
576329
5431149
342
81
-45
150
52.56
60.1
7.54
0.04
144
0.18
including
1.0m @ 0.02 % Li
2
O, 1.1% Cs
2
O, & 277 ppm Ta
from 58.5m
PWM-24-186
576313
5431096
347
102
-45
55
10.41
42.85
32.44
1.40
248
0.58
including
1.2m @ 1.01 % Li
2
O, 3.03% Cs
2
O, & 232 ppm Ta
from 25.8m
0.8m @ 0.42 % Li
2
O, 3.02% Cs
2
O, & 167 ppm Ta
from 33.6m
1.2m @ 0.62 % Li
2
O, 8.13% Cs
2
O, & 575 ppm Ta
from 39.8m
PWM-24-187
576332
5431110
345
60
-45
170
13.28
19.6
6.32
1.24
157
0.07
PWM-24-188
576323
5431125
344
72
-45
170
23.03
26.5
3.47
2.74
250
4.91
including
2.0m @ 3.55 % Li
2
O, 7.46% Cs
2
O, & 196 ppm Ta
from 24.0m
PWM-24-189
576307
5431115
346
72
-45
170
14.25
22.95
8.7
1.74
782
4.98
including
5.0m @ 1.67 % Li
2
O, 8.6% Cs
2
O, & 1116 ppm Ta
from 16.0m
with
1.0m @ 2.2 % Li
2
O, 20.14% Cs
2
O, & 459 ppm Ta
from 18.0m
PWM-24-190
576288
5431120
346
72
-45
170
16.38
19.28
2.9
1.04
348
0.06
PWM-24-191
576294
5431139
344
70
-45
170
41
46.32
5.32
1.01
278
2.39
including
2.0m @ 0.61 % Li
2
O, 6.12% Cs
2
O, & 367 ppm Ta
from 41.0m
PWM-24-192
576311
5431137
344
72
-45
170
28.1
31.19
3.09
0.95
572
0.03
PWM-24-193
576330
5431117
344
60
-45
170
19.35
25
5.65
1.66
143
0.07
PWM-24-194
576335
5431171
340
81
-45
170
no significant mineralization
PWM-24-195
576293
5431152
343
81
-45
170
49.29
52.82
3.53
1.79
387
0.03
PWM-24-196
576287
5431147
343
81
-45
170
43
48.48
5.48
0.41
951
0.03
PWM-24-197
576284
5431144
344
81
-45
170
41.88
45
3.12
0.75
935
0.05
PWM-24-198
576316
5431113
346
150
-45
170
14.78
18
3.22
1.76
140
7.32
including
2.45m @ 2.27 % Li
2
O, 9.29% Cs
2
O, & 156 ppm Ta
from 15.6m
with
0.8m @ 0.36 % Li
2
O, 24.7% Cs
2
O, & 9 ppm Ta
from 16.2m
PWM-24-199
576312
5431106
347
60
-55
170
7.12
15.23
8.11
1.42
233
4.50
including
4.5m @ 1.42 % Li
2
O, 8.03% Cs
2
O, & 242 ppm Ta
from 9.0m
with
1.0m @ 1.25 % Li
2
O, 15.9% Cs
2
O, & 102 ppm Ta
from 11.0m
0.6m @ 1.29 % Li
2
O, 13.8% Cs
2
O, & 164 ppm Ta
from 12.9m
PWM-24-200
576303
5431109
346
60
-45
170
11
14
3
1.68
1002
3.83
including
1.35m @ 2.34 % Li
2
O, 4.87% Cs
2
O, & 1474 ppm Ta
from 12.65m
PWM-24-201
576319
5431115
346
60
-45
170
14.15
21.28
7.13
1.21
348
6.27
including
5.0m @ 1.31 % Li
2
O, 8.81% Cs
2
O, & 265 ppm Ta
from 15.0m
with
1.0m @ 1.84 % Li
2
O, 11.9% Cs
2
O, & 240 ppm Ta
from 15.0m
1
.0m @ 1.02 % Li
2
O, 19.4% Cs
2
O, & 108 ppm Ta
from 17.0m
PWM-24-202
576312
5431111
347
60
-45
170
8.6
16.34
7.74
1.82
534
2.07
including
5.0m @ 1.97 % Li
2
O, 3.13% Cs
2
O, & 670 ppm Ta
from 10.0m
Sampling and QAQC Procedures
Samples were taken across every pegmatite and 1.5 meter into the barren host rock on either side
of dykes. Sample lengths were around 1-metre NQ core diameter (48 mm), though individual sample
length was determined based on internal zoning of the dykes and the locations of their contacts. The
sampled core was cut in half with one half being sent for analysis and the other half remaining in the
box for reference. All core is stored at Power Metals core storage facility in
Cochrane, Ontario
.
Each sample was put into its own plastic sample bag with a sample tag and closed with zip ties.
About 15% of the samples submitted to Activation Laboratories Ltd. ("Actlabs") and SGS Canada
("SGS") for analysis were QAQC samples that were inserted into the sample stream and consist of
a high- and low-grade lithium, Tantalum, and Cesium standards, blank material, and duplicates.
Samples were dropped at either Actlabs Timmins or SGS Cochrane, in
Ontario
. Samples submitted
to Actlabs were prepped, crushed and pulverized in
Timmins
and were subsequently sent to Actlabs
geochemistry laboratory in
Ancaster, Ontario
for multi element analysis using sodium peroxide fusion
ICP-OES/ICP-MS and borate fusion ICP-MS. Samples submitted to SGS were prepped, crushed,
and pulverized in
Sudbury
and were subsequently sent to SGS Burnaby and SGS Lakefield for multi
element analysis using sodium peroxide fusion ICP-AES/ICP-MS and borate fusion XRF. All cesium
results above 1% were analyzed using 4-Acid digest AAS at SGS Lakefield.
Actlabs and SGS Canada are independent of the Company.
Figure 5 – Map of Power Metals current project in northeastern Ontario and northwestern Quebec,
Canada (CNW Group/Power Metals Corp.)
Further to the Company's news release dated
March 28, 2024
, the Company announces that the
stock options granted to Outside-The-Box will have an expiry date of
March 27
, 2026. Otherwise,
subject to TSX Venture Exchange approval, all other terms of the options as announced on
March
28, 2024
, remain in full force and effect.
Pursuant to the press release dated
August 24, 2023
, the Company is continuing to prepare the
necessary documents to receive final TSXV approval for the acquisition of the properties, including
the preparation of a technical report.
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 5).
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
.
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 5).
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 5).
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 5).
Pollucite and Cesium
Pollucite is a rare mineral that hosts high grade cesium and is associated with highly fractionated,
compact, and 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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Power Metals Corp., Johnathan More, 646-661-0409,