VANCOUVER, BC,
July 12, 2022 /CNW/ -
Power Metals Corp. ("Power Metals" or the
"Company") (TSXV: PWM) (FSE: OAA1) (OTCQB: PWRMF) is pleased
to provide an update on our recently commenced drill program at the
Company's 100% owned Case Lake Property. The Company has
completed an initial 8 drill holes on the Case Lake lithium
property and has intersected substantial spodumene (lithium ore
mineral) mineralization in every hole. A total of 4 drill holes
(PWM-22-128 to 131) were completed for a total of 256 m on the West Joe Dyke. A total of 4 drill
holes (PWM-22-132 to 135) were completed for a total of
435 m on the Main Dyke. The purpose
of each drill hole was to infill on known mineralization to aid in
a future resource estimate. These holes are part of Power Metals'
fully-funded 5,000 meter 2022 summer drill program at Case
Lake.
Johnathan More, Chairman &
CEO of Power Metals, commented "Drilling continues at our Case Lake
property as we eagerly await assay results for the initial 8 drill
holes of the 2022 program. Our visual interpretations of the
drill core look spectacular and we will immediately release the
assay results as soon as they are received. We are extremely
excited with the drilling to date as we will continue to expand our
world-class lithium, cesium and tantalum discoveries on the West
Joe and Main Dykes. Additionally, we are continuing our
geological mapping program of the additional 12 tonalite domes
identified on the property."
West Joe Dyke drill holes
PWM-22-128 to 131 are along section following the West Joe Dyke
down dip. These holes intersected spodumene (Li) and lepidolite
(Li):
- 17.56-24.40 m, interval
6.84 m, spodumene and lepidolite,
PWM-22-128, spodumene is up to 9 x 3 cm in size (Figure 1)
- 23.88-25.84 m, interval
1.96 m, spodumene, PWM-22-129,
spodumene is up to 5 x 2 cm in size
- 36.51-43.02 m, interval
6.51m, spodumene, PWM-22-129,
including 0.7 m with about 20 volume
% spodumene
- 54.21-57.18 m, interval
2.97 m, spodumene, PWM-22-130,
including 0.29 m with about 25 volume
% spodumene (Figure 2)
- 61.83-64.09 m, interval
2.26 m, spodumene, PWM-22-131,
including 1.3 m with about 10-15
volume% spodumene
Figure 1 Purple lepidolite (Li) vein at 19.9 m, PWM-22-128, West Joe Dyke
Figure 2 White spodumene at 55 m
in the top row and white coarse-grained cleavelandite in the second
row, PWM-22-130, West Joe Dyke
Main Dyke drill holes PWM-22-132 to135 intersected wide zones of
spodumene pegmatite on the Main Dyke:
- 2.05-27.64 m, interval
25.59 m, PWM-22-132, including
9.5 m of 10 volume % spodumene
- 37.42-65.41 m, interval
27.99 m, PWM-22-133, including
6.6 m of 15 volume % spodumene
- 19.65-25.5 m, interval
5.85 m, PWM-22-134 with 15 volume %
spodumene (Figure 3)
- 25.5-28.1 m, interval
2.6 m, PWM-22-134, quartz core with
coarse-grained white spodumene (Figure 3)
- 28.1-36.2 m, interval
8.1 m, PWM-22-134, including
5.75 m of 25 volume % spodumene
- 40.76-48.37 m, interval
7.61 m, PWM-22-134, including
2.74 m of 25 volume % spodumene
- 6.33-32.53 m, interval
26.2 m, PWM-22-135, including
13.45 m of < 15 volume %
spodumene
Visual mineral estimates of spodumene content does not
necessarily indicate Li2O % grade in assays. Drill
core samples from PWM-22-132 have been cut and submitted to SGS
Cochrane lab for preparation and assay. Assays are pending and will
be disclosed once received.
Figure 3 Abundant green spodumene in top core box and white and
green spodumene in bottom box, last row is quartz core with
coarse-grained spodumene, boxes 5 and 6, 20-29 m, PWM-22-134, Main Dyke.
Drill holes PWM-22-132 to 135 also intersected the new spodumene
dyke below the Main Dyke:
- 56.02-57.95 m, interval
1.93 m, PWM-22-132
- 85.07-85.8 m, interval
0.73 m, PWM-22-133
- 47.14-47.81 m, interval
0.67 m, PWM-22-135
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 will be prepared at SGS Garson and analyzed at
SGS Burnaby, British Columbia
which has ISO 17025 certification. Every 20 samples included one
external quartz blank, one external lithium standard and one core
duplicate. The ore grade Li2O% was prepared by sodium
peroxide fusion with analysis by ICP-OES with a detection limit of
0.002 % Li2O.
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
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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