Strong cesium and lithium anomalies detected in soil sample assay analysis
Phase II Magnetic Drone Survey commences to establish drill targets at Case Lake
New Exploration Permit submitted to Mines Department for 2025
VANCOUVER, BC, Nov. 27, 2024 /CNW/ - Power Metals Corp ("Power Metals" or the "Company") (TSX VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce that it has identified a new prospective pegmatite zone from soil sampling conducted to the north-northwest of West Joe at its 100% owned Case Lake Property (CLP) in northeastern Ontario.
Figure 1 – Cesium Results from the recently conducted Soil Sampling Program at Case Lake (CNW Group/Power Metals Corp.)
Figure 2 – Lithium Results from the recently conducted Soil Sampling Program at Case Lake (CNW Group/Power Metals Corp.)
Figure 3 – Image of Phase II Drone Magnetic Survey area to be conducted at Case Lake, Ontario, Canada (CNW Group/Power Metals Corp.)
Figure 4 – Power Metals Corp Project Locations Map in Ontario and Quebec Canada (CNW Group/Power Metals Corp.)
The results from recent soil sampling conducted across two targets to the NNW of West Joe indicate anomalous levels of cesium, tantalum, lithium, and rubidium, which further affirms prospective drill targets for our upcoming winter program (Figure 1-2).
The Company has engaged Pioneer Exploration to commence its 2024 Phase II Drone Magnetic Survey program at the CLP and anticipates completing 1,329 line-km's of data collection to complete the low-level high-resolution drone magnetic survey as part of Phase II. The Company continues to develop a robust structural model of the critical mineral targets at West Joe and Main Zone (Figure 3) in preparation for exploration in 2025.
Power Metals has also submitted a new early exploration permit to the Ontario Mines Department which will supersede the current permit, due to expire in Q1 2025. This three-year permit is expected to be granted in January 2025 and will encompass all critical mineral exploration targets across the property, with the support of the Ontario Government and key stakeholders of the region.
Haydn Daxter, CEO of Power Metals commented: "I am very excited with the results from the soil sampling program that has defined a new prospective area on the property as we continue to target cesium and critical minerals at our Case Lake Project. The ongoing development of our geological model continues to define additional drill targets for cesium and critical minerals outside of West Joe. In addition, our Phase II drone magnetic survey data will further strengthen our geological understanding across the property and will set the stage for our 2025 exploration activities."
Johnathan More, Founder and Chairman of Power Metals, added: "The Company is pleased to receive confirmation from the soil sample assays that there is increased potential for additional cesium targets on the property. We look forward to drilling these areas in 2025 as we add additional confidence to our world-class critical minerals project in Ontario. The addition of increased confidence to our current geological model that will be gained from our Phase II Drone Survey will also greatly assist the team in exploration programs for next year at Case Lake."
SOIL SAMPLING PROGRAM
The Company has received positive results from a recent targeted soil survey program, testing two geophysical anomalies similar to the West Joe Prospect, located 500 meters north-northwest of West Joe.
The results of the survey show a very strong cesium anomaly characterized by a series of samples that extend 180 meters along the survey corridor into the structural footwall of the known cesium, lithium, and tantalum mineralization at West Joe. Strong anomalies for lithium and lithium, cesium, and tantalum (LCT) associated rubidium have also been observed in the results from West Joe.
A total of 177 samples were collected over five lines from the top 10 centimeters of glacial soil material at 25 meter spacing, along 600 meter to 800 meter survey lines. The program included a control line over known cesium, lithium, and tantalum mineralization at the West Joe prospect.
Approximately 15% of the total samples were run as QAQC samples that were inserted into the sample stream and include field duplicates, reference material, and blanks. 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.
The two target areas to the NNW of West Joe also reported strong lithium and LCT-associated beryllium anomalies that are 150 to 200 meters wide along survey lines on top of the targets. Elevated cesium signatures and LCT-associated rubidium anomalies were also identified in the target areas, which is positive given the mobile nature of cesium, whilst displaying a strong lithium and beryllium signature. The area is covered by a think cover of glacial till with low lying relief displaying consistent water-rich zones compared to West Joe which has a relatively thin layer of glacial cover and outcrops at surface.
The Company is pleased at the success of the surface exploration methods to validate geophysical anomalies in ground covered by thick glacial material within the LCT-prolific Case Lake Property. Based on the geochemical results from cesium, lithium and K/Rb, and K/Cs ratios (Table 1-2) the Company is able to utilize this data for further targeting and exploration drilling.
Cs_ppb
Li_ppb
Rb_ppb
Be_ppb
Mo_ppb
Ta_ppb
K/Rb
K/Cs
0.11
0.9
6.6
0.1
0.05
0.01
32.55
104.41
Min
86.2
43.9
93.1
5.7
138
0.24
958.90
54545.45
Max
4.33
15.61
25.66
1.94
8.02
0.09
151.05
2487.35
Average
3.09
14.40
22.45
1.80
1.30
0.09
119.05
833.37
Median
Table 1 – Statistical overview of pathfinder elements
These results further validate work to date on our geological targeting from structural and geophysical data at CLP as the Company continues to systematically test all prospective zones across the property.
MAGNETIC DRONE SURVEY
The Company has commenced its Phase II Drone Magnetic Survey with Pioneer Exploration across Case Lake to further add to the data collected during the recent Phase I program.
The Phase II survey will cover the majority of the high-priority targets across the southern portion of the project and will provide additional data to the current geophysical and structural review on CLP.
The low-level high-resolution magnetic survey consists of four survey grids totaling approximately 1,329 line-kilometers of airborne data, collected at 25-meter line spacing and 250 meters spaced perpendicular tie lines. The surveys will be carried out at an azimuth of 150° over a three-week period.
Once the data is added to the current geological model, the Company will commence targeting with soil sampling and exploration drilling programs throughout 2025 as part of our ongoing exploration focus on critical minerals across the property.
Sample
Easting
Northing
Elevation
Cs_ppb
Li_ppb
Rb_ppb
Be_ppb
Mo_ppb
Ta_ppb
K/Rb
K/Cs
921551
576303
5431074
348
86.2
12
77.4
0.3
1
0.08
116.3
104.4
921552
576289.6
5431062
349.3
12.2
14
23.8
0.4
0.6
0.01
105.0
204.9
921553
576279.4
5431040
349.3
9.56
8.3
40.5
0.9
0.1
0.01
246.9
1046.0
921554
576269.7
5431011
353.31
8.55
5.3
33.3
0.4
0.3
0.01
75.1
292.4
921556
576260.2
5430990
355.67
15.8
10.7
50.1
1.6
0.3
0.01
99.8
316.5
921557
576258.1
5430965
365.87
16.6
10.5
50.4
1.3
0.2
0.01
119.0
361.4
921558
576250.2
5430951
363.28
3.8
8.8
29.8
0.4
0.3
0.03
83.9
657.9
921559
576241.4
5430920
354.6
2.7
10.5
32.5
0.5
0.6
0.03
246.2
2963.0
921561
576226.7
5430901
361.5
2.14
6.3
47.2
0.5
1.4
0.05
169.5
3738.3
921562
576222.5
5430866
358.29
1.13
25
38.3
0.8
0.4
0.04
391.6
13274.3
921563
576214.1
5430846
344.65
0.87
4.8
33
0.6
1.1
0.02
303.0
11494.3
921564
576200.3
5430819
343.29
0.11
3.1
9.4
0.4
1
0.04
638.3
54545.5
921565
576194.8
5430802
345.73
6.15
5.7
93.1
2.8
0.5
0.01
193.3
2926.8
921566
576190.1
5430777
350.05
0.3
7.1
22.2
0.5
1.3
0.04
315.3
23333.3
921567
576318.5
5431158
345.81
1.44
7
36.6
0.7
1.5
0.04
491.8
12500.0
921568
576313.7
5431184
339.07
2.15
3.2
21
0.8
4.1
0.05
238.1
2325.6
921569
576340.9
5431206
338
33.6
39.7
55.7
1.6
27.1
0.08
89.8
148.8
921571
576343.5
5431228
337.58
5.92
12.7
17.5
0.6
92
0.08
142.9
422.3
921572
576355.8
5431255
336.77
1.52
15.9
14.7
0.4
35.6
0.04
170.1
1644.7
921573
576360
5431275
336.25
0.78
35.6
14.8
0.5
138
0.06
168.9
3205.1
921574
576369.7
5431295
337.57
0.55
29.8
17.7
0.5
45.8
0.08
141.2
4545.5
921576
576377.1
5431321
337.39
0.68
24.7
21.7
0.3
29.4
0.16
115.2
3676.5
921577
576381.4
5431349
337.03
0.36
36.9
44
0.1
105
0.03
181.8
22222.2
921578
576379.2
5431364
336.13
0.77
20
21.1
0.3
47.6
0.11
118.5
3246.8
921579
576385.4
5431388
334.56
0.76
16.2
17.3
0.5
58.7
0.11
144.5
3289.5
921581
576404.9
5431416
337.01
5.72
26.2
38.2
1.7
8.9
0.17
65.4
437.1
921582
576423.9
5431443
339.9
1.14
3.8
21.8
1.2
0.7
0.03
114.7
2193.0
921583
576431.4
5431463
338.5
0.39
3.1
31.2
0.6
0.4
0.03
80.1
6410.3
921584
576431.8
5431488
338.39
2.25
4.5
30.2
3
0.05
0.01
165.6
2222.2
921585
576268.9
5431142
340.78
4.06
13.1
42.5
0.8
0.7
0.07
258.8
2709.4
921586
575947.8
5431518
335.54
0.45
0.9
20.3
0.6
0.7
0.03
123.2
5555.6
921587
575950.2
5431554
330.93
1.36
7.5
10.4
1.4
0.9
0.01
240.4
1838.2
921588
575959.2
5431575
330.27
2.18
21.5
12
1.1
1.7
0.04
208.3
1146.8
921589
575969.5
5431594
336.1
2.38
20.6
14.4
1.1
2.5
0.03
173.6
1050.4
921591
575977.7
5431615
333.16
1.81
24.2
11.3
1
0.8
0.01
221.2
1381.2
921592
575985
5431644
334.79
1.91
20.4
16
1.3
1.1
0.03
156.3
1308.9
921593
575995.1
5431665
334.79
1.77
6.6
12.3
0.4
1.7
0.01
203.3
1412.4
921594
575999.8
5431688
334.01
3.52
29.8
19.7
0.8
1.7
0.01
126.9
710.2
921596
576012.9
5431714
333.5
0.24
6.9
8.6
0.5
2.2
0.12
290.7
10416.7
921597
576018
5431734
337
2.45
15.1
15.1
1.2
1.2
0.16
165.6
1020.4
921598
576028.7
5431759
335.45
4.16
11.9
40.1
1.1
4.5
0.11
62.3
601.0
921599
576035.9
5431782
336.52
3.58
18.2
24.3
1.6
2.4
0.07
102.9
698.3
921601
576040.1
5431794
336.64
3.26
19.5
21.8
2.2
3.2
0.08
114.7
766.9
921602
576044.8
5431810
345.84
3.58
13.3
28.5
3.2
1.6
0.11
87.7
698.3
921603
576052.1
5431818
345.84
4.73
17.3
31.8
2.6
0.6
0.07
78.6
528.5
921604
576053.1
5431831
344.13
5.02
11.7
35.4
2
1.3
0.17
70.6
498.0
921605
576054.9
5431843
336.82
5.88
31.2
41.6
1.7
1.1
0.18
60.1
425.2
921606
576062.4
5431854
343.33
5.6
28.9
32.2
2.2
1.2
0.12
77.6
446.4
921607
576065
5431866
344.09
4.19
22.5
26
2.3
0.9
0.12
96.2
596.7
921608
576066.4
5431879
343.31
5.48
25.4
21.5
2.3
1
0.13
116.3
456.2
921609
576078.3
5431908
344.83
4.71
28.3
26.1
2.3
1.2
0.11
95.8
530.8
921611
576086.4
5431928
344.69
7
28.8
32.9
1.8
1.5
0.14
76.0
357.1
921612
576096.8
5431946
346.28
3.79
23.9
16
3.5
1.2
0.12
156.3
659.6
921613
576103.8
5431973
355.78
6.01
16.4
28.9
2.1
1.1
0.12
86.5
416.0
921614
576109.7
5431996
356.83
2.43
12.8
25.6
2.1
0.8
0.09
97.7
1028.8
921616
576117.7
5432012
337.12
3.47
17
23
2.2
1.5
0.09
108.7
720.5
921617
576126.8
5432041
356.16
2.56
13.9
23
2.3
1.5
0.07
108.7
976.6
921618
576134.4
5432068
338
3.03
14.5
21.7
2.3
1.2
0.08
115.2
825.1
921619
576142.1
5432090
356.58
2.86
11.4
21.6
2.3
2.3
0.07
115.7
874.1
921621
576151.8
5432112
338
3.84
8.3
16.1
2.6
2.4
0.11
155.3
651.0
921622
576174.8
5432105
358.46
2.48
11.6
19
2.2
4.1
0.11
131.6
1008.1
921623
576165
5432082
358.67
2.11
7.8
12.9
1.8
1.9
0.07
193.8
1184.8
921624
576157.9
5432058
358.58
1.29
11.1
18
1.4
1.5
0.06
138.9
1938.0
921625
576148.3
5432036
359.12
1.43
12.1
23.5
1.9
1.2
0.07
106.4
1748.3
921626
576142.4
5432009
360.77
2.48
8.5
18.7
1.6
1.2
0.06
133.7
1008.1
921627
576134.4
5431980
360.06
4.16
19.1
47.5
2.3
1.2
0.12
52.6
601.0
921628
576120.7
5431801
337.16
3.05
11.6
17.3
3.3
0.8
0.08
144.5
819.7
921629
576126.4
5431816
337.15
2.98
11.9
24.9
5.1
2.2
0.14
100.4
838.9
921631
576130.9
5431829
337.15
6.27
13.5
31.6
3
1.1
0.12
79.1
398.7
921632
576138.4
5431840
336.96
5.22
15.1
38.8
3.8
0.8
0.12
64.4
478.9
921633
576138.4
5431855
335.99
5
17.6
23.6
2.6
1
0.11
105.9
500.0
921634
576145.1
5431863
335.99
4.29
17.1
17.1
2.1
1
0.1
146.2
582.8
921636
576146.1
5431878
334.4
4.74
17.5
24.6
2.1
1.9
0.16
101.6
527.4
921637
576151.4
5431888
333.61
3.02
15.6
18.2
2
1.2
0.12
137.4
827.8
921638
576156.8
5431898
333.61
2.18
13.5
21
1
0.7
0.07
119.0
1146.8
921639
576123.6
5431963
342.65
5.42
24.1
37.4
3.7
1.5
0.19
66.8
461.3
921641
576121
5431937
343.29
4.7
21.9
26.5
2.4
1.2
0.12
94.3
531.9
921642
576108.6
5431917
336.43
3.93
29.5
24.6
2.4
1.3
0.14
101.6
636.1
921643
576099.9
5431893
336.81
4.28
18.5
22.1
1.8
0.8
0.14
113.1
584.1
921644
576092.8
5431870
343.8
2.69
16.2
13.3
1.6
0.8
0.1
188.0
929.4
921645
576086.7
5431857
343.61
4.19
12.4
22.5
1.5
0.6
0.11
111.1
596.7
921646
576085
5431843
343.61
4.06
12.8
27.1
1.6
0.8
0.08
92.3
615.8
921647
576078.4
5431836
343.61
5.45
14.7
24.1
2.1
0.7
0.14
103.7
458.7
921851
576282.2
5431110
346.65
12.9
14.3
75.5
0.3
1.3
0.03
211.9
1240.3
921852
576085.6
5431538
333.58
0.49
2.6
10.6
0.8
1
0.01
235.8
5102.0
921854
576064.9
5431561
335.14
0.37
4
7.3
0.4
1.2
0.03
958.9
18918.9
921856
576073.4
5431584
335.32
2.83
15.9
16.3
1.6
0.7
0.05
153.4
883.4
921857
576081.4
5431610
336.47
3.24
14.4
28.8
1.4
0.9
0.05
86.8
771.6
921858
576091.4
5431634
336.64
3.13
11.6
16.6
1.2
1.1
0.07
150.6
798.7
921859
576098.9
5431655
336.69
2.09
15.3
10.9
1.4
0.9
0.12
229.4
1196.2
921861
576106.1
5431679
338.06
4.72
24
23.9
2.7
1.1
0.08
104.6
529.7
921862
576113.4
5431704
338.07
2.69
24.1
17.8
2.3
1.6
0.1
140.4
929.4
921863
576122.3
5431727
337.49
3.12
11.5
30
5.7
1.4
0.13
83.3
801.3
921864
576129.8
5431750
338.62
4.87
12.5
28
1.9
0.8
0.19
89.3
513.3
921865
576140.1
5431773
340.47
4.35
13
25
1.5
0.5
0.07
100.0
574.7
921866
576147.9
5431797
338.96
4.44
20.4
47.2
2.2
0.6
0.13
53.0
563.1
921867
576150.9
5431810
338.96
3.93
14.1
35
3.6
1
0.15
71.4
636.1
921868
576155.2
5431823
339.02
4.61
15.9
32.1
3.3
1.3
0.14
77.9
542.3
921869
576160.6
5431834
338.53
3.7
13.2
23.4
2.3
0.8
0.11
106.8
675.7
921871
576161.1
5431846
339.2
3.98
5.7
34.3
3.2
1.6
0.08
72.9
628.1
921872
576168.3
5431857
339.2
2.95
9.6
38
3.6
1.3
0.09
65.8
847.5
921873
576171.3
5431867
339.31
3.81
12.4
39.1
3.8
1.2
0.1
63.9
656.2
921874
576176
5431882
340.32
3.61
14.4
33.6
3.1
2.1
0.13
74.4
692.5
921876
576181.9
5431894
341.25
1.85
15.9
37.6
2.1
1.1
0.11
66.5
1351.4
921877
576184.5
5431917
341.92
3.04
17.4
46.7
3
3.1
0.14
53.5
822.4
921878
576198.7
5431941
341.9
2.58
14.5
37.3
1.9
1.1
0.11
67.0
969.0
921879
576206.8
5431960
342.01
1.62
15
45.2
3.5
10.3
0.1
55.3
1543.2
921881
576211.1
5431989
342.51
0.86
5.3
16.1
1.7
5.4
0.06
155.3
2907.0
921882
576219.8
5432012
341.9
1.18
3.1
15.6
2.6
5.5
0.07
160.3
2118.6
921883
576233.4
5432034
341.76
1.01
5.8
15.5
2.1
8.2
0.08
161.3
2475.2
921884
576237.3
5432056
341.05
0.98
5.6
14.8
1.6
10
0.08
168.9
2551.0
921885
576244.4
5432081
340.57
0.92
6
17.8
1.5
10.8
0.05
140.4
2717.4
921886
576250.6
5432105
341.48
1.01
5.8
12
1.9
7.6
0.07
208.3
2475.2
921887
576265.8
5432130
342.21
0.93
5.1
16.8
1.5
15.1
0.07
148.8
2688.2
921888
576238
5432137
343.26
1.69
8.6
26
2.2
19.2
0.12
96.2
1479.3
921889
576230.4
5432113
342.32
1.35
9.4
22.4
1.3
11.3
0.06
111.6
1851.9
921891
576221.3
5432091
341.47
1.17
5.5
10.4
1.3
8.4
0.03
240.4
2136.8
921892
576212.8
5432066
341.31
1.68
10.1
27.6
1.5
4.8
0.14
90.6
1488.1
921893
576203.9
5432041
341.85
0.85
6.7
11.2
1.6
2.6
0.06
223.2
2941.2
921894
576198.6
5432018
341.18
1.24
6.5
25.7
2.7
4.6
0.08
97.3
2016.1
921896
576186.4
5431994
341.9
1.21
7
17.5
1.6
1.9
0.06
142.9
2066.1
921897
576181.9
5431972
342.34
1.47
8.5
23.1
2.1
2
0.1
108.2
1700.7
921898
576172.6
5431946
342.72
2.5
16.8
27.2
4.7
2
0.14
91.9
1000.0
921899
576164.4
5431925
343.19
3.25
15.1
28.9
2.2
1.1
0.14
86.5
769.2
921901
576035.4
5431547
334.09
3.02
10.9
19.8
1.4
0.9
0.01
126.3
827.8
921902
576040.4
5431568
336.51
2.02
21.5
9.1
2.2
0.9
0.06
274.7
1237.6
921903
576051.6
5431593
337.44
2.95
38.2
13.2
1.5
1.6
0.09
189.4
847.5
921904
576055.5
5431618
337.08
3.21
20.9
27.3
1.3
2.5
0.06
91.6
778.8
921905
576066.3
5431643
336.68
3.27
32.4
15.5
1.7
0.9
0.08
161.3
764.5
921906
576075.5
5431667
337.34
1.86
3.1
17.3
0.5
3.7
0.24
144.5
1344.1
921907
576081.6
5431690
338.34
4.36
15.5
17
1.5
0.8
0.1
147.1
573.4
921908
576088.7
5431712
338.16
4.35
20
15.6
2.6
2.2
0.12
160.3
574.7
921909
576098
5431737
339.22
5.91
11.2
17
2.5
0.6
0.11
147.1
423.0
921911
576106.9
5431758
337.44
5.73
16.2
24.4
1.8
0.6
0.16
102.5
436.3
921912
576114.9
5431781
337.39
5.31
15.3
26.5
2.2
0.5
0.11
94.3
470.8
921913
576078.1
5431822
338.49
4.33
13.3
24.7
1.2
0.5
0.1
101.2
577.4
921914
576070.3
5431809
339.42
5.84
19
23.3
1.9
0.6
0.13
107.3
428.1
921916
576067.9
5431800
340.05
5.32
16.9
27.6
1.8
0.9
0.16
90.6
469.9
921917
576063.1
5431791
340.52
3.99
17.6
21
5.3
1.2
0.1
119.0
626.6
921918
576059.9
5431775
340.36
4.59
27.3
20.4
2.8
1.4
0.11
122.5
544.7
921919
576052
5431752
340.27
3.57
43.9
18.5
1.7
1.6
0.23
135.1
700.3
921921
576039.9
5431732
341.38
1.59
4
16.6
0.6
1.4
0.14
150.6
1572.3
921922
576036.1
5431704
340.16
2.76
8.4
16.3
1
2.1
0.04
153.4
905.8
921923
576026.8
5431679
340.11
3.28
12.3
13.2
1.3
1.9
0.04
189.4
762.2
921924
576018.6
5431657
341.76
3.06
12.7
19.5
0.7
1.7
0.03
128.2
817.0
921925
576010.8
5431632
341.76
1.69
8.2
6.6
0.8
0.2
0.01
378.8
1479.3
921926
576003.8
5431608
340.77
4.12
17.4
17.9
2.3
0.5
0.02
139.7
606.8
921927
575992.1
5431588
341.26
3.54
12.2
16.5
1.3
0.2
0.01
151.5
706.2
921928
575986.9
5431565
341.19
3.47
18.2
76.8
1.6
0.3
0.01
32.6
720.5
921929
575977.2
5431540
340.86
3.36
10.8
11.2
1.3
0.4
0.01
223.2
744.0
921931
575969.1
5431514
340.64
2.55
10
28.2
1.4
0.6
0.01
88.7
980.4
Table 2 – Soil Sampling Results
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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