VANCOUVER, BRITISH COLUMBIA – (July 9th, 2018) -Power Metals Corp. (“Power Metals Corp.” or the “Company”) (TSX VENTURE:PWM)(FRANKFURT:OAA1)(OTC:PWRMF) is pleased to announce that the first hole of the summer drill program, PWM-18-84, has successfully intersected 126.25 m of pegmatite within the Main Dyke at Case Lake, east of Cochrane. The purpose of this longitudinal drill hole was to test the continuity of the Main Dyke along strike and down dip. PWM-18-84 intersected continuous pegmatite from 2.0 - 128.25 m.
Drill hole PWM-18-84 has significant intervals which contain spodumene within the Main Dyke:
- 19.17 m interval, 2-21.17 m, of spodumene pegmatite with 5-10% spodumene (Figure 1)
- 16.81 m interval, 54.54-71.35 m, of spodumene granite with locally up to 15% spodumene (Figure 2)
- 8.07 m interval, 71.35-79.42 m, of spodumene pegmatite with locally up to 30% spodumene. The green spodumene is coarse-grained with crystals up to 5 cm across and > 10 cm long.
The drill core samples have been submitted to the lab and assays are pending. Power Metals is drilling in excess of 15,000 m in this summer/fall drill program.
Figure 1 PWM-18-84, boxes 1 to 6, spodumene pegmatite with up to 10% spodumene (boxes 1 to 5) and quartz core (box 6), Main Dyke, Case Lake.
Figure 2 PWM-18-84, boxes 17 to 20, spodumene granite with up to 15% spodumene (boxes 17 to 19) and spodumene pegmatite with coarse-grained spodumene and up to 30% spodumene (boxes 19 and 20), Main Dyke, Case Lake.
Dr. Selway, VP of Exploration, stated “Power Metals started off the summer drill program with a bang. The longitudinal hole PWM-18-84 with 126.25 m of pegmatite confirmed the continuity of the Main Dyke along strike and down dip for a future resource estimate. The abundance of spodumene seen in the core should result in exciting lithium assays.”
Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of five spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome. Power Metals has an 80% interest with its 20% working interest partner MGX Minerals Inc.
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. A National Instrument 43-101 report has been prepared on Case Lake Property and filed on July 18, 2017.
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 & Director
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Power Metals Corp.
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