West Joe Dyke Drilling Intersects 1.87% Li2O and 518.19 ppm Ta Over 14.30 m
West Joe Dyke Drilling Intersects 1.87% Li2O and 518.19 ppm
Ta Over 14.30 m
VANCOUVER
,
Nov. 13, 2018
/CNW/ -
Power Metals Corp.
("
Power Metals Corp.
" or the "
Company
") (TSX VENTURE:PWM)
(FRANKFURT:OAA1)(OTC:PWRMF) is pleased to announce that drilling on the recently discovered West Joe Dyke has intersected
additional high-grade Lithium (Li) and Tantalum (Ta) mineralization (Table 1):
1.75 % Li
2
O and 385.38 ppm Ta over
10.91 m
, PWM-18-123
0.72 % Li
2
O and 126.43 ppm Ta over
20.43 m
, PWM-18-123
followed by
2.92 m
of tonalite
Figure 1 PWM-18-124, Boxes 1 to 3, 0.33 – 12.53 m. Note abundant green spodumene. Pink pollucite is above the 11 m wooden tag.
(CNW Group/POWER METALS CORP)
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 (Figure 1):
1.87 % Li
2
O and 518.19 ppm Ta over
14.30 m
1.45 % Li
2
O and 481.38 ppm Ta over
17.00 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.
These two holes intersected exceptionally high-grade lithium intervals:
3.88 % Li
2
O and 232.0 ppm Ta over
0.82 m
, PWM-18-124
3.20 % Li
2
O and 468.93 ppm Ta over
2.10 m
, PWM-18-123
2.85 % Li
2
O and 207.0 ppm Ta over
0.30 m
, PWM-18-123
These two holes also intersected exceptionally high-grade Ta intervals:
3783.0 ppm Ta and 2.53 % Li
2
O over
1.0 m
, PWM-18-124
902.26 ppm Ta and 2.59 % Li
2
O over
5.16 m
, PWM-18-124
651.0 ppm Ta and 2.17 % Li
2
O over
1.0 m
, PWM-18-123
Generally, 200 ppm Ta is considered to be ore grade for Tantalum mineralization.
In addition to Lithium and Tantalum mineralization, West Joe Dyke also contains Cesium (Cs) mineralization consistently in multiple
holes along strike as shown by the presence of pollucite in drill core (Figure 1) and exceptionally high grade Cs intervals (Table 2):
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
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. Pollucite indicates extreme fractionation of the pegmatitic melt
and suggests that the West Joe Dyke is more fractionated than the Main Dyke at Case Lake. 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 1). The presence of pollucite increases the potential to find more spodumene pegmatite dykes with Li, Ta and Cs
mineralization near the West Joe Dyke.
Dr. Selway, VP of Exploration, stated "The discovery of West Joe Dyke and the subsequent high-grade Li, Ta and Cs assays in drill
core has been the highlight of Power Metals 2018 summer drill program. West
Joe Dyke
is a three commodity pegmatite and there is
potential to find more high-grade Li spodumene pegmatite dykes near it. Also, the 3.0 km area between West Joe, Main and the
Northeast Dykes is a large exploration target for potentially more spodumene pegmatites."
Elevated Cs assays and pollucite has been previously identified in drill hole PWM-18-49 in the first new dyke below Main Dyke:
2.00 % Cs
2
O over
2.0 m
interval, from 32.45 to
34.45 m
Elevated Cs assays has also been identified in drill hole PWM-18-71 in the Northeast Dyke:
2.52 % Cs
2
O over
1.0 m
interval, from 25.0 to
26.0 m
Table 1. West
Joe Dyke
drill hole assays for drill holes PWM-18-118 to 127.
Drill hole No.
Including
From
(m)
To
(m)
Length
(m)
Li
2
O (%)
Ta
(ppm)
PWM-18-118
59.24
61.00
1.76
0.84
101.32
PWM-18-120
34.97
36.23
1.26
0.66
724.00
PWM-18-120
45.84
46.17
0.33
0.75
378.00
PWM-18-121
19.36
21.46
2.10
1.43
236.50
PWM-18-121
24.12
27.12
3.00
1.30
212.54
PWM-18-122
9.02
9.96
0.94
0.78
456.00
PWM-18-123
0.07
20.50
20.43
0.72
126.43
PWM-18-123
including
6.00
7.00
1.00
1.46
147.00
PWM-18-123
including
17.00
18.00
1.00
1.54
220.00
PWM-18-123
including
19.00
19.69
0.69
1.42
106.00
PWM-18-123
including
20.20
20.50
0.30
2.85
207.00
PWM-18-123
23.42
34.33
10.91
1.75
385.38
PWM-18-123
including
23.42
29.70
6.28
2.55
438.31
PWM-18-123
including
26.60
28.70
2.10
3.20
468.93
PWM-18-123
including
28.70
29.70
1.00
2.17
651.00
PWM-18-124
1.00
18.00
17.00
1.45
481.38
PWM-18-124
including
2.00
4.00
2.00
2.61
205.00
PWM-18-124
including
8.00
11.00
3.00
1.99
1593.67
PWM-18-124
including
8.00
9.00
1.00
2.53
3783.00
PWM-18-124
including
15.00
17.00
2.00
2.01
417.50
PWM-18-124
37.50
51.80
14.30
1.87
518.19
PWM-18-124
including
37.50
38.57
1.07
2.46
430.00
PWM-18-124
including
42.18
43.00
0.82
3.88
232.00
PWM-18-124
including
45.84
47.00
1.16
2.55
1004.00
PWM-18-124
including
45.84
51.00
5.16
2.59
902.26
PWM-18-125
9.12
11.00
1.88
2.05
153.89
PWM-18-126
9.38
17.00
7.62
1.62
260.40
PWM-18-126
including
11.00
13.00
2.00
2.37
102.85
PWM-18-126
including
16.00
17.00
1.00
1.76
653.00
PWM-18-127
6.19
6.91
0.72
1.60
101.00
PWM-18-119 has no significant Li values.
Table 2 West Joe Dyke Cs
2
O % assays for drill holes PWM-18-111 to 127.
Drill Hole No.
Including
From
(m)
To
(m)
Length
(m)
Cs
2
O
(%)
PWM-18-111
12.00
13.20
1.20
2.36
PWM-18-112
10.00
11.00
1.00
12.40
PWM-18-116
43.68
44.68
1.00
1.43
PWM-18-116
46.68
47.68
1.00
2.31
PWM-18-116
48.64
50.10
1.46
2.61
PWM-18-123
15.00
18.00
3.00
1.49
PWM-18-123
27.66
29.70
2.04
4.54
PWM-18-123
including
27.66
28.70
1.04
5.86
PWM-18-124
9.00
11.00
2.00
3.92
PWM-18-124
including
9.00
10.00
1.00
5.74
PWM-18-124
12.00
14.00
2.00
4.88
PWM-18-124
38.57
39.15
0.58
1.18
PWM-18-124
41.50
42.18
0.68
5.14
PWM-18-126
11.00
16.00
5.00
6.74
PWM-18-126
including
13.00
14.00
1.00
14.70
Figure 1 PWM-18-124, Boxes 1 to 3, 0.33 –
12.53 m
. Note abundant green spodumene. Pink pollucite is above the
11 m
wooden tag.
Drill hole collar locations are given in Table 3 and are plotted in Figures 2 and 3. Drill holes intersect the pegmatite dyke at
approximately 90° except for longitudinal holes PWM-18-122, 123 and 124, thus intersected mineralized widths are close to true
widths for all holes except for these three.
West Joe spodumene pegmatite is located 1.6 km southwest of the western edge of the Main Dyke and 3.0 km southwest of the
Northeast Dyke (Figure 2). West Joe, Main and Northeast Dykes occur along a SW-NE trend (Figure 2). As the spodumene
mineralization is the same in all three 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 2
Case Lake Property showing the location of West Joe Dyke, Main Dyke, East and Northeast Dyke drilling.
Figure 3
Location of drill hole collars for West Joe Dyke drill program, Case Lake Property.
Table 3 Drill hole collar locations on West Joe Dyke, Case Lake Property. UTM NAD 83, Zone 17. DGPS survey.
Drill Hole No.
Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Length
(m)
PWM-18-118
576285.84
5431164.38
340.17
170
-45
86.49
PWM-18-119
576276.05
5431139.35
342.7
168
-45
79.47
PWM-18-120
576329.53
5431147.35
341.79
170
-45
80.34
PWM-18-121
576338.30
5431120.25
347.35
170
-45
89.18
PWM-18-122
576288.74
5431089.04
347.45
38
-60
91.34
PWM-18-123
576310.96
5431095.86
345.65
58
-45
95
PWM-18-124
576295.53
5431096.45
347.07
36
-60
95
PWM-18-125
576286.48
5431107.81
345.94
170
-45
32
PWM-18-126
576306.69
5431109.73
345.74
170
-45
32
PWM-18-127
576337.02
5431102.73
344.92
170
-45
20
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
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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
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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 Case Lake Property showing the location of West Joe Dyke, Main Dyke, East and Northeast Dyke drilling. (CNW
Group/POWER METALS CORP)
Figure 3 Location of drill hole collars for West Joe Dyke drill program, Case Lake Property. (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 13-NOV-18