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.
Figure 1 – Image of a Black Diamond drill rig, in operation, in northeastern Ontario, Canada (CNW Group/Power Metals Corp.)
Figure 2 – Power Metals and Apitipi Anicinapek Nation team conduct water sampling at Case Lake (CNW Group/Power Metals Corp.)
Figure 3 – Map of soil sampling locations conducted NNW of West Joe, along with test line through the West Joe Prospect (CNW Group/Power Metals Corp.)
Figure 4 – Power Metals Corp Project Locations Map in Ontario and Quebec Canada (CNW Group/Power Metals Corp.)
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.
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