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Power Metals Corp, Power Metals Corp

POWER METALS IDENTIFIES NEW PROSPECTIVE PEGMATITE ZONE AT CASE LAKE

Major Highlights

  • 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.

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.

 

 

SOURCE Power Metals Corp.