Major Highlights
- First Nation company, Black Diamond Drilling, engaged for
upcoming program at Case Lake
- Phase II water sampling completed at Case Lake
- Soil sampling completed on two potential cesium targets
north of West Joe
VANCOUVER, BC, Nov. 6, 2024
/CNW/ - Power Metals Corp ("Power Metals" or the "Company") (TSXV:
PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to confirm
Black Diamond Drilling has been engaged to complete its 2024 Phase
III drill program at the Company's 100%-owned Case Lake Project
("CLP") in northeastern Ontario.
The objective of the 2024 Phase III program is to target and
extend the known cesium zones at West Joe and Main Zone as part of
the CLP, with 2,000 meters of exploration drilling to be
completed.
Black Diamond Drilling is a First
Nation company 100%-owned by the community of Apitipi Anicinapek
Nation (AAN) in Ontario, Canada.
The company is operated by a highly-experienced team with a focus
on exploration projects in the Abitibi Greenstone Belt (see Figure
1).
Black Diamond is currently
operating drill rigs at McEwen Mining and Alamos Gold in
Ontario and has a partnership with
Major Drilling Group International Inc. Black Diamond is
independent from the Company.
Haydn Daxter, Power Metals CEO
commented:
"Power Metals is extremely pleased to have engaged the team
at Black Diamond Drilling, as part of Apitipi Anicinapek
Nation, as we explore our world-class critical minerals project at
Case Lake in Ontario."
"Delivering local work to the local communities we operate in
is a priority for our Company and we believe this is the beginning
of a strong partnership with this First Nation company."
"We look forward to fostering a strong partnership with AAN
as we continue our engagement across many areas of the Power Metals
business," said CEO of Power Metals, Haydn Daxter.
Lance Black, President,
Apitipi Resources Inc., parent company of Black Diamond Drilling
Inc., and Director of Negotiations and Contract Management, Apitipi
Anicinapek Nation commented:
"I am pleased to say that Power Metals has been engaging
extremely well with the implementation of our exploration
agreement. They consult with our team regularly and have site
visits with our Lands and Resources Department about activity on
our land and meet with our team in person to discuss the
exploration activities."
WATER SAMPLING
The Company recently completed its Phase II water sampling
program at Case Lake with members of Apitipi Anicinapek Nation over
a two-day period (see Figure 2). A total of eight points were
sampled as part of the Case Lake waterway system, including lake
and tributary locations.
This follows a recent training program on the collection and
analysis of water samples conducted by the Company during Phase I
sampling with members of Apitipi Anicinapek Nation and Blue Heron
Environmental Consultants in Timmins.
Power Metals has developed this initiative in conjunction with
traditional landowners to collaborate and share technical data on
waterways of the Case Lake region.
SOIL SAMPLING
The Company recently completed a targeted soil sampling program
to validate two cesium anomalies identified 500 meters to the
north-northwest of the West Joe Prospect during a structural and
geophysical assessment of the Case Lake Project. The two
high-priority targets represented similar magnetic signatures and
structural proximity to the current high-grade cesium
mineralization at the West Joe Prospect.
The program was conducted over four days in mid-October with 177
samples (see Figure 3) collected by the geology team on loan from
Winsome Resources (ASX: WR1) as part of our intercompany
development.
The soil sampling program in the West Joe area was designed to
validate two geophysical anomalies that show similarities to
magnetic signature of LCT mineralization at West Joe (Table
1).
The samples were taken from five soil lines oriented at an
oblique angle to geological strike of the regional fabric and
glacial flow direction.
Samples were taken at every 25 meters along each line with 15%
of the total samples being QAQC samples that were inserted into the
sample stream.
Samples were submitted to Activation Laboratories Ltd
("Actlabs") in Timmins and were
subsequently sent to Actlabs geochemical laboratory in Ancaster, Ontario for selective
digestion-based multielement geochemical analysis.
Table 1 – Summary
of Soil Sample Locations as discussed in the
announcement.
|
|
Sample
#
|
Easting
|
Northing
|
Elevation
(m)
|
921XXX
|
576156.8
|
5431898
|
333.61
|
921XXX
|
576151.4
|
5431888
|
333.61
|
921XXX
|
576146.1
|
5431878
|
334.4
|
921XXX
|
576145.1
|
5431863
|
335.99
|
921XXX
|
576138.4
|
5431855
|
335.99
|
921XXX
|
576138.4
|
5431840
|
336.96
|
921XXX
|
576130.9
|
5431829
|
337.15
|
921XXX
|
576126.4
|
5431816
|
337.15
|
921XXX
|
576120.7
|
5431801
|
337.16
|
921XXX
|
576078.4
|
5431836
|
343.61
|
921XXX
|
921646
|
5431843
|
343.61
|
921XXX
|
576086.7
|
5431857
|
343.61
|
921XXX
|
576092.8
|
5431870
|
343.8
|
921XXX
|
576099.9
|
5431893
|
336.81
|
921XXX
|
576108.6
|
5431917
|
336.43
|
921XXX
|
576121
|
5431937
|
343.29
|
921XXX
|
576123.6
|
5431963
|
342.65
|
921XXX
|
576134.4
|
5431980
|
360.06
|
921XXX
|
576142.4
|
5432009
|
360.77
|
921XXX
|
576148.3
|
5432036
|
359.12
|
921XXX
|
576157.9
|
5432058
|
358.58
|
921XXX
|
576165
|
5432082
|
358.67
|
921XXX
|
576174.8
|
5432105
|
358.46
|
921XXX
|
576151.8
|
5432112
|
338
|
921XXX
|
576142.1
|
5432090
|
356.58
|
921XXX
|
576134.4
|
5432068
|
338
|
921XXX
|
576126.8
|
5432041
|
356.16
|
921XXX
|
576117.7
|
5432012
|
337.12
|
921XXX
|
576109.7
|
5431996
|
356.83
|
921XXX
|
576103.8
|
5431973
|
355.78
|
921XXX
|
575969.1
|
5431514
|
340.64
|
921XXX
|
575977.2
|
5431540
|
340.86
|
921XXX
|
575986.9
|
5431565
|
341.19
|
921XXX
|
575992.1
|
5431588
|
341.26
|
921XXX
|
576003.8
|
5431608
|
340.77
|
921XXX
|
576010.8
|
5431632
|
341.76
|
921XXX
|
576018.6
|
5431657
|
341.76
|
921XXX
|
576026.8
|
5431679
|
340.11
|
921XXX
|
576036.1
|
5431704
|
340.16
|
921XXX
|
576039.9
|
5431732
|
341.38
|
921XXX
|
921919
|
5431752
|
340.27
|
921XXX
|
576059.9
|
5431775
|
340.36
|
921XXX
|
576063.1
|
5431791
|
340.52
|
921XXX
|
576067.9
|
5431800
|
340.05
|
921XXX
|
576070.3
|
5431809
|
339.42
|
921XXX
|
576078.1
|
5431822
|
338.49
|
921XXX
|
576114.9
|
5431781
|
337.39
|
921XXX
|
576106.9
|
5431758
|
337.44
|
921XXX
|
576098
|
5431737
|
339.22
|
921XXX
|
576088.7
|
5431712
|
338.16
|
921XXX
|
576081.6
|
5431690
|
338.34
|
921XXX
|
576075.5
|
5431667
|
337.34
|
921XXX
|
576066.3
|
5431643
|
336.68
|
921XXX
|
576055.5
|
5431618
|
337.08
|
921XXX
|
576051.6
|
5431593
|
337.44
|
921XXX
|
576040.4
|
5431568
|
336.51
|
921XXX
|
576035.4
|
5431546.5
|
334.09
|
921XXX
|
576164.4
|
5431925
|
343.19
|
921XXX
|
576172.6
|
5431946
|
342.72
|
921XXX
|
576181.9
|
5431972
|
342.34
|
921XXX
|
576186.4
|
5431994
|
341.9
|
921XXX
|
576198.6
|
5432018
|
341.18
|
921XXX
|
576203.9
|
5432041
|
341.85
|
921XXX
|
576212.8
|
5432066
|
341.31
|
921XXX
|
576221.3
|
5432091
|
341.47
|
921XXX
|
576230.4
|
5432113
|
342.32
|
921XXX
|
576238
|
5432137
|
343.26
|
921XXX
|
576265.8
|
5432130
|
342.21
|
921XXX
|
576250.6
|
5432105
|
341.48
|
921XXX
|
576244.4
|
5432081
|
340.57
|
921XXX
|
576237.3
|
5432056
|
341.05
|
921XXX
|
576233.4
|
5432034
|
341.76
|
921XXX
|
576219.8
|
5432012
|
341.9
|
921XXX
|
576211.1
|
5431989
|
342.51
|
921XXX
|
576206.8
|
5431960
|
342.01
|
921XXX
|
576198.7
|
5431941
|
341.9
|
921XXX
|
576184.5
|
5431917
|
341.92
|
921XXX
|
576181.9
|
5431894
|
341.25
|
921XXX
|
576096.8
|
5431946
|
346.28
|
921XXX
|
576086.4
|
5431928
|
344.69
|
921XXX
|
576078.3
|
5431908
|
344.83
|
921XXX
|
576066.4
|
5431878.5
|
343.31
|
921XXX
|
576065
|
5431866
|
344.09
|
921XXX
|
576062.4
|
5431854
|
343.33
|
921XXX
|
576054.9
|
5431843
|
336.82
|
921XXX
|
576053.1
|
5431831
|
344.13
|
921XXX
|
576052.1
|
5431818
|
345.84
|
921XXX
|
576044.8
|
5431810
|
345.84
|
921XXX
|
576040.1
|
5431794
|
336.64
|
921XXX
|
576035.9
|
5431782
|
336.52
|
921XXX
|
576028.7
|
5431759
|
335.45
|
921XXX
|
921597
|
336.64
|
336.64
|
921XXX
|
576012.9
|
5431714
|
333.5
|
921XXX
|
575999.8
|
5431688
|
334.01
|
921XXX
|
575995.1
|
5431665
|
334.79
|
921XXX
|
575985
|
5431644
|
334.79
|
921XXX
|
575977.7
|
5431615
|
333.16
|
921XXX
|
575969.5
|
5431594
|
336.1
|
921XXX
|
575959.2
|
5431575
|
330.27
|
921XXX
|
575950.2
|
5431554
|
330.93
|
921XXX
|
575947.8
|
5431518
|
335.54
|
921XXX
|
576268.9
|
5431142
|
340.78
|
921XXX
|
576176
|
5431882
|
340.32
|
921XXX
|
576171.3
|
5431867
|
339.31
|
921XXX
|
576168.3
|
5431857
|
339.2
|
921XXX
|
576161.1
|
5431846
|
339.2
|
921XXX
|
576160.6
|
5431834
|
338.53
|
921XXX
|
576155.2
|
5431823
|
339.02
|
921XXX
|
576150.9
|
5431810
|
338.96
|
921XXX
|
576147.9
|
5431797
|
338.96
|
921XXX
|
576140.1
|
5431773
|
340.47
|
921XXX
|
576129.8
|
5431750
|
338.62
|
921XXX
|
576122.3
|
5431727
|
337.49
|
921XXX
|
576113.4
|
5431703.5
|
338.07
|
921XXX
|
576106.06
|
5431678.5
|
338.06
|
921XXX
|
576098.94
|
5431655
|
336.69
|
921XXX
|
576091.4
|
5431633.5
|
336.64
|
921XXX
|
576081.4
|
5431610
|
336.47
|
921XXX
|
576073.44
|
5431583.5
|
335.32
|
921XXX
|
576064.88
|
5431560.5
|
335.14
|
921XXX
|
576085.63
|
5431537.5
|
333.58
|
921XXX
|
576282.19
|
5431110
|
346.65
|
921XXX
|
576431.75
|
5431488
|
338.39
|
921XXX
|
576431.4
|
5431462.5
|
338.5
|
921XXX
|
576423.9
|
5431443
|
339.9
|
921XXX
|
576404.9
|
5431416
|
337.01
|
921XXX
|
576385.4
|
5431388
|
334.56
|
921XXX
|
576379.2
|
5431364
|
336.13
|
921XXX
|
576381.4
|
5431349
|
337.03
|
921XXX
|
576377.1
|
5431321
|
337.39
|
921XXX
|
576369.7
|
5431295
|
337.57
|
921XXX
|
576360
|
5431275
|
336.25
|
921XXX
|
576355.8
|
5431255
|
336.77
|
921XXX
|
576343.5
|
5431227.5
|
337.58
|
921XXX
|
576340.94
|
5431205.5
|
338
|
921XXX
|
576313.69
|
5431183.5
|
339.07
|
921XXX
|
576318.5
|
5431158
|
345.81
|
921XXX
|
576190.13
|
5430776.5
|
350.05
|
921XXX
|
576194.75
|
5430802
|
345.73
|
921XXX
|
576200.31
|
5430819
|
343.29
|
921XXX
|
576214.13
|
5430846
|
344.65
|
921XXX
|
576222.5
|
5430866
|
358.29
|
921XXX
|
576226.69
|
5430901
|
361.5
|
921XXX
|
576241.44
|
5430920
|
354.6
|
921XXX
|
576250.19
|
5430951
|
363.28
|
921XXX
|
576258.13
|
5430965
|
365.87
|
921XXX
|
576260.19
|
5430990
|
355.67
|
921XXX
|
576269.69
|
5431011
|
353.31
|
921XXX
|
576279.38
|
5431039.5
|
349.3
|
921XXX
|
576289.63
|
5431062
|
349.3
|
921XXX
|
576303
|
5431074
|
348
|
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 22,231 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 (Figure 4).
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 4).
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 4).
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 4).
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)₂(Al₂Si₄O₁₂)•2H₂O,
(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 on www.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.