Major Highlights
- High-grade concentrate produced from Phase I ore sorting,
confirming Cesium concentrate of 19.97% Cesium Oxide
(Cs₂O)
- Emerging as the highest-grade Cesium mine globally
(Sinclair* 17.2% and Tanco* 13.8%)
- Concentrate now undergoing conversion to Cesium
Formate
- Final Phase II drilling assays completed from our Case Lake
project with continued high-grade mineralization, results in
Cesium, Lithium and Tantalum
- Continued high-grade pollucite mineralization of 15.37%
Cesium Oxide (Cs₂O)
VANCOUVER, BC, Dec. 3, 2024
/CNW/ - Power Metals Corp ("Power Metals" or the "Company") (TSX
VENTURE: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to
announce a very high-grade concentrate from Phase I of X-ray
transmission (XRT) ore sorting at the 100%-owned Case Lake Project
(CLP) in northeastern Ontario. The
production of a high-grade cesium concentrate represents a
significant milestone for the business and potential partners. The
Company's 2024 Phase III drill program is currently underway.
Results received from SGS Lakefield from the three products
produced via XRT with Tomra Australia confirms a very high-grade
concentrate and further demonstrates the world-class potential of
the Case Lake Project to meet the increased demand for high-grade
cesium oxide including:
- Sample 24-036-01P: 23.50% Cs2O, 0.43%
Li2O, and 41 ppm Ta
- Sample 24-036-02P: 4.80% Cs2O, 2.11%
Li2O, and 589 ppm Ta
- Sample 24-036-03P: 15.20% Cs2O, 1.03%
Li2O, and 276 ppm Ta
The Company also received the final 2024 Phase II drilling assay
results that continue to highlight the consistent level of
high-grade mineralization in cesium, lithium, and tantalum, further
solidifying the project's robust resource potential. Targeted
drilling at the West Joe and Main Zone has confirmed additional
high-grade cesium oxide (Cs₂O), lithium and tantalum
mineralization, with exceptional shallow intercepts reaching
concentrations of up to 15.37% Cs₂O, including:
- Hole PWM-24-227: 3.00 meters averaging 10.61% Cs₂O in a
pollucite-rich zone (refer to Figure 1-2 for further
details)
The Case Lake Project strengthens its position as a world-class
asset that is advancing to meet the increasing demand for cesium
and global critical minerals strategies. The completion of Phase II
drilling at the West Joe and Main Zone has continued to deliver
significant results, highlighting exceptional high-grade
mineralization:
WEST JOE HIGHLIGHTS:
- PWM-24-227: 8.15m at 1.38%
Li2O, 4.21% Cs₂O and 340 ppm Ta from 13.85m
-
- Including 3.00m @ 1.75%
Li2O, 10.61% Cs₂O and 238 ppm Ta from 17.00m
- Including 1.00m @ 1.34% Li₂O,
15.37% Cs₂O and 110 ppm Ta from 18.00m
PHASE I XRT ORE SORTING
The Company received very positive assay results for three
pollucite concentrates that were produced at Tomra Australia using
XRT technology. The concentrates were produced from three
separation analysis runs, completed from a 60 kg bulk sample,
sourced from HQ drill holes PWM-24-203 to PWM-24-206. Mineralized
intervals were selected and produced 48 quarter core samples with
average grades of 3.72% Cs₂O, 1.04% Li₂O, and 412ppm Ta over
a 5.10-meter interval (Table 1).
Table 1 -
Summary of Assay Composites from HQ Metallurgical Holes (previously
reported)
|
Hole
|
From
|
To
|
Size Fraction
(mm)
|
Length
(m)
|
Li2O %
|
Length-X-Li2O
|
Ta
(ppm)
|
Length-X-Ta
|
Cs2O%
|
Length-X-Cs2O
|
PWM-24-203
|
10.33
|
17.79
|
6 to 12.5
|
7.46
|
0.92
|
6.84
|
326
|
2435
|
4.67
|
35
|
PWM-24-204
|
7
|
17.2
|
6 to 12.5
|
10.20
|
0.84
|
8.58
|
485
|
4943
|
0.84
|
9
|
PWM-24-205
|
29
|
33
|
6 to 12.5
|
4.00
|
1.28
|
5.12
|
252
|
1008
|
2.51
|
10
|
PWM-24-206
|
14.5
|
25.35
|
6 to 12.5
|
10.85
|
1.15
|
12.49
|
291
|
3162
|
3.08
|
33
|
PWM-24-203
|
12
|
16
|
8 to 32
|
4.00
|
1.06
|
4.23
|
332
|
1329
|
8.57
|
34
|
PWM-24-204
|
11
|
13
|
8 to 32
|
2.00
|
1.13
|
2.27
|
1752
|
3503
|
3.44
|
7
|
PWM-24-205
|
30
|
32
|
8 to 32
|
2.00
|
1.34
|
2.68
|
241
|
481
|
4.98
|
10
|
PWM-24-206
|
17
|
21
|
8 to 32
|
4.00
|
0.96
|
3.84
|
394
|
1575
|
7.71
|
31
|
PWM-24-206
|
23.96
|
25.35
|
8 to 32
|
1.39
|
1.14
|
1.59
|
326
|
453
|
1.50
|
2
|
Average Composite
for All Composites
|
5.10
|
1.04
|
412
|
3.72
|
The primary and secondary XRT analysis utilised 21.60 kg of
material from 14 drill core samples that were crushed, screened at
8 to 32 mm, and sorted with two stages of XRT testing. The feed
grade for the 14 samples based on assay composites for Phase I
metallurgical drill holes averaged 6.27% Cs₂O, 1.09% Li₂O, and
548ppm Ta across a 2.70 meter interval (Table 2).
Table 2 –
Summary of Assay Composites for 8-32mm Material from HQ
Metallurgical Holes
|
Hole
|
From
|
To
|
Length
|
Li2O %
|
Length-X-Li2O
|
Ta
(ppm)
|
Length-X-Ta
|
Cs2O%
|
Length-X-Cs2O
|
PWM-24-203
|
12
|
16
|
4.00
|
1.06
|
4.23
|
332
|
1329
|
8.57
|
34
|
PWM-24-204
|
11
|
13
|
2.00
|
1.13
|
2.27
|
1752
|
3503
|
3.44
|
7
|
PWM-24-205
|
30
|
32
|
2.00
|
1.34
|
2.68
|
241
|
481
|
4.98
|
10
|
PWM-24-206
|
17
|
21
|
4.00
|
0.96
|
3.84
|
394
|
1575
|
7.71
|
31
|
PWM-24-206
|
23.96
|
25.35
|
1.39
|
1.14
|
1.59
|
326
|
453
|
1.50
|
2
|
Average Composite
for All Composites
|
2.68
|
1.09
|
548
|
6.27
|
The primary XRT analysis produced a very high-density and
grade concentrate of 4.30 kg's (Sample 24-036-01P) with 23.50%
Cs₂O, 0.43% Li₂O, and 41 ppm Ta. The ejected 17.20 kg of
product from the primary analysis was resorted with XRT and
produced a secondary 5.50 kg concentrate (Sample 24-036-02P) with
4.80% Cs₂O, 2.11% Li₂O, and 589 ppm Ta. Assay results from
the waste material (Sample 24-036-02W) reported 0.29% Cs₂O, 1.66%
Li₂O, and 173 ppm Ta from 11.70 kg of material (Table 3).
Table 3 –
Summary of Assay Results from XRT Test Work, Primary and Secondary
Analysis
|
Sample
Number
|
Weight
(kg)
|
Li2O %
|
Weighted_Li2O
|
Ta
(ppm)
|
Weighted_Ta
|
Cs2O %
|
Weighted_Cs2O
|
24-036-01P
|
4.32
|
0.43
|
1.86
|
41
|
177
|
23.50
|
101.52
|
24-036-02P
|
5.54
|
2.11
|
11.69
|
589
|
3263
|
4.80
|
26.59
|
24-036-02W
|
11.7
|
1.66
|
19.39
|
173
|
2024
|
0.29
|
3.39
|
Weighted Average
Grade
|
21.56
|
1.53
|
253
|
6.10
|
The tertiary XRT analysis utilized 22.00 kg material from 34
drill core samples that were crushed at <12.5 mm and screened at
6 mm to produce 3.20 kg high-density concentrate (Sample
24-036-03P). The feed grade for the 34 samples averaged 2.67%
Cs₂O, 1.02% Li₂O, and 355ppm Ta across an interval of 8.13
meters (Table 4).
Table 4 -
Summary of Assay Composites for 6mm Material from HQ Metallurgical
Holes
|
Hole
|
From
|
To
|
Length
|
Li2O %
|
Length-X-Li2O
|
Ta
(ppm)
|
Length-X-Ta
|
Cs2O %
|
Length-X-Cs2O
|
PWM-24-203
|
10.33
|
17.79
|
7.46
|
0.92
|
6.84
|
326
|
2435
|
4.67
|
35
|
PWM-24-204
|
7
|
17.2
|
10.20
|
0.84
|
8.58
|
485
|
4943
|
0.84
|
9
|
PWM-24-205
|
29
|
33
|
4.00
|
1.28
|
5.12
|
252
|
1008
|
2.51
|
10
|
PWM-24-206
|
14.5
|
25.35
|
10.85
|
1.15
|
12.49
|
291
|
3162
|
3.08
|
33
|
Average Composite
for All Composites
|
8.13
|
1.02
|
355
|
2.67
|
The tertiary XRT analysis produced a high-density and grade
concentrate (Sample 24-036-03P) that reported 15.20% Cs₂O, 1.03%
Li₂O, and 276 ppm Ta. Assay results for the final waste product
(sample 24-036-03W) from the tertiary analysis reported 0.46% Cs₂O,
1.16% Li₂O, and 204 ppm Ta from 18.80 kg of material (Table
5).
Table 5 -
Summary of Assay Results from XRT Test Work, Tertiary
Analysis
|
Sample
Number
|
Weight
(kg)
|
Li2O %
|
Weighted_Li2O
|
Ta
(ppm)
|
Weighted_Ta
|
Cs2O %
|
Weighted_Cs2O
|
24-036-03P
|
3.2
|
1.03
|
3.31
|
276
|
883
|
15.20
|
48.64
|
24-036-03W
|
18.78
|
1.16
|
21.83
|
204
|
3830
|
0.46
|
8.64
|
Weighted Average
Grade
|
21.98
|
1.14
|
214
|
2.61
|
The results of the Company Phase I XRT ore sorting study has
demonstrated a robust process with very achievable production of
high-grade pollucite concentrates, Samples 24-036-01P and
24-036-03P represented on average 19.97% Cs₂O, 0.69% Li₂O, and
141 ppm Ta. The analysis results from all three samples (Sample
24-036-01P, 24-036-02P, and 24-036-03P) produced a very high-grade,
multi element concentrate with 13.53% Cs₂O, 1.29% Li₂O, and 331
ppm Ta that would add additional economic value with lithium
and tantalum credits to the cesium oxide (Table 6-9).
The concentrate is currently undergoing chemical conversion with
SGS Lakefield to produce cesium formate, a high-value product in
the oil and gas drilling industry. Phase II ore sorting will
commence shortly at Tomra Germany with a 200kg sample from West
Joe, followed by conversion to cesium carbonate and cesium
hydroxide.
Johnathan More, Chairman
and Founder of Power Metals commented:
"The recent assay results from our Phase I ore sorting test
work confirm the production of a high-grade cesium concentrate for
our world-class Case Lake Project. The outlook for the Company over
the coming months is very exciting with the results of this
significant milestone to produce an economic cesium oxide at such a
high grade. The Case Lake Project is developing into potentially
the world's highest grade cesium mine."
"Final results from our Phase II drilling continues to add
confidence in the project's resource potential with work to
commence on our Maiden Resources Estimate (MRE). We look forward to
results from our 2024 Phase III drilling to strengthen the projects
world-class potential in meeting the demand for critical
minerals."
Haydn Daxter, CEO of Power Metals, added,
"The production of a high-grade cesium concentrate from our
recent test work is a major achievement in the viability of our
Flagship Case Lake project. These results will culminate with the
conversion of high-grade cesium oxide into cesium chemicals to meet
the global demand. The use of XRT has been integral in the
production of cesium oxide at both Sinclair and Tanco and has
performed exceptionally well at Case Lake as part of our Phase I
analysis. In addition, the production of high-grade lithium and
tantalum as part of the concentrate production adds further
economic value to the project in the production phase."
2024 PHASE II DRILLING
The results from hole PWM-24-227 displayed strong mineralization
with cesium rich pollucite, spodumene, and tantalum that contained
up to 4.21% Cs₂O, 1.38% Li₂O, and 340ppm Ta over 8.15
meters. The LCT mineralization in hole PWM-24-227 is a
continuation from the mineralized zone as previously reported in
hole PWM-24-177, with the core of cesium mineralization averaging
10.50% Cs₂O over 3.35 meters in both PWM-24-227 and
PWM-24-177 (Figure 2).
Exploration hole PWM-24-226 that tested a structural target to
east of West Joe intersecting an aplitic dyke with tonalite and
anomalous tantalum, confirmed the exploration potential between
West Joe and Main Zone.
Drill holes PWM-24-230 to PWM-24-235 tested cesium potential
south of Main Zone in an area where drilling in 2017 and 2024
(Phase I) identified sporadic Cesium-Lithium-Tantalum
mineralization, in 80-meter wide area that occurs between the North
and South dykes at Main Zone. Holes PWM-24-231 and PWM-24-235
intersected thick mineralization characterized by medium-grade
lithium and anomalous tantalum mineralization (0.68% Li₂O and 58
ppm Ta) hosted in over 13 meters of pegmatite. The core of the
mineralization in both holes contains strong Li₂O (1.44% on
average) and anomalous cesium over five meters. PWM-24-234 drilled
200 meters along strike to the southwest of the area where
PWM-24-231 and PWM-235 were drilled, intersecting a thick (11.35
meters) tantalum-only pegmatite, suggesting strong fractionation of
the mineralization in the target area (Table 10).
*Grades reported from Company announcements and technical
reports
Appendix
Table 6 – Summary of all samples analyzed via XRT for
Phase I
|
Sample Number
|
Size Fraction (mm)
|
Weight (kg)
|
Li2O %
|
Weighted_Li2O
|
Ta (ppm)
|
Weighted_Ta
|
Cs2O %
|
Weighted_Cs2O
|
24-036-01P - Run
1
|
8 to 32
|
4.32
|
0.43
|
1.86
|
41
|
177
|
23.50
|
101.52
|
24-036-02P - Run
2
|
8 to 32
|
5.54
|
2.11
|
11.69
|
589
|
3263
|
4.80
|
26.59
|
24-036-02W - Run
2
|
8 to 32
|
11.7
|
1.66
|
19.39
|
173
|
2024
|
0.29
|
3.39
|
24-036-03P - Run
3
|
6 to 12.5
|
3.2
|
1.03
|
3.31
|
276
|
883
|
15.20
|
48.64
|
24-036-03W - Run
3
|
6 to 12.5
|
18.78
|
1.16
|
21.83
|
204
|
3830
|
0.46
|
8.64
|
Weighted Average Grade
|
43.54
|
1.33
|
234
|
4.34
|
Table 7 – Summary of sample results for XRT analysis
on samples 1-3
|
Sample Number
|
Size Fraction (mm)
|
Weight (kg)
|
Li2O %
|
Weighted_Li2O
|
Ta (ppm)
|
Weighted_Ta
|
Cs2O %
|
Weighted_Cs2O
|
24-036-01P - Run
1
|
8 to 32
|
4.32
|
0.43
|
1.86
|
41
|
177
|
23.50
|
101.52
|
24-036-02P - Run
2
|
8 to 32
|
5.54
|
2.11
|
11.69
|
589
|
3263
|
4.80
|
26.59
|
24-036-03P - Run
3
|
6 to 12.5
|
3.2
|
1.03
|
3.31
|
276
|
883
|
15.20
|
48.64
|
Weighted Average Grade
|
13.06
|
1.29
|
331
|
13.53
|
Table 8 - Summary of sample results for XRT analysis
on samples 1 and 3
|
Sample Number
|
Size Fraction (mm)
|
Weight (kg)
|
Li2O %
|
Weighted_Li2O
|
Ta (ppm)
|
Weighted_Ta
|
Cs2O %
|
Weighted_Cs2O
|
24-036-01P - Run
1
|
8 to 32
|
4.32
|
0.43
|
1.86
|
41
|
177
|
23.50
|
101.52
|
24-036-03P - Run
3
|
6 to 12.5
|
3.2
|
1.03
|
3.31
|
276
|
883
|
15.20
|
48.64
|
Weighted Average Grade
|
7.52
|
0.69
|
141
|
19.97
|
Table 9 - Summary of waste sample results for XRT
analysis on all samples
|
Sample Number
|
Size Fraction (mm)
|
Weight (kg)
|
Li2O %
|
Weighted_Li2O
|
Ta (ppm)
|
Weighted_Ta
|
Cs2O %
|
Weighted_Cs2O
|
24-036-02W - Run
2
|
8 to 32
|
11.7
|
1.66
|
19.39
|
173
|
2024
|
0.29
|
3.39
|
24-036-03W - Run
3
|
6 to 12.5
|
18.78
|
1.16
|
21.83
|
204
|
3830
|
0.46
|
8.64
|
Weighted Average Grade
|
30.48
|
1.35
|
192
|
0.39
|
Table 10 – Drill
Collar Table (Bold Hole ID's reported in the
announcement)
|
Hole
ID
|
Easting
|
Northing
|
Elevation
|
Hole
Depth
(m)
|
Dip
|
Azimuth
NAD83
|
From
(m)
|
To
(m)
|
Significant
Intersections
|
NAD83
|
NAD83
|
MASL
|
Interval
(m)
|
Cs2O (%)
|
Li2O %
|
Ta
(ppm)
|
West
Joe
|
PWM-24-
207
|
576312
|
5431119
|
344
|
71
|
-45
|
170
|
16.35
|
25.00
|
8.65
|
5.74
|
1.60
|
378
|
including 3.0m @ 15.86%
Cs2O, 1.67% Li2O, & 119ppm Ta from
18.35m
including 1.0m @ 22.58%
Cs2O, 1.72% Li2O, & 130ppm Ta from
18.35m
|
PWM-24-
208
|
576306
|
5431120
|
344
|
71
|
-45
|
170
|
16.38
|
23.40
|
7.02
|
1.77
|
1.25
|
355
|
including 3.0m @ 3.98 %
Cs2O, 0.7 % Li2O, & 457ppm Ta from
19.0m
|
PWM-24-
209
|
576308
|
5431125
|
344
|
71
|
-45
|
170
|
20.07
|
25.78
|
5.71
|
1.42
|
1.19
|
287
|
including 2.5m @ 3.18 %
Cs2O, 1.37 % Li2O, & 456ppm Ta from
22.5m
|
PWM-24-
210
|
576301
|
5431115
|
344
|
71
|
-45
|
170
|
11.78
|
20.87
|
9.09
|
2.25
|
0.98
|
367
|
including 3.2m @ 5.06%
Cs2O, 1.39% Li2O, & 634ppm Ta from
13.80m
including 1.0m @ 8.78%
Cs2O, 2.42% Li2O, & 426ppm Ta from
16.00m
|
PWM-24-
211
|
576319
|
5431122
|
350
|
74
|
-45
|
170
|
19.20
|
27.10
|
7.90
|
4.05
|
1.50
|
423
|
including 3.9m @ 7.83%
Cs₂O, 1.43% Li2O, and 410ppm Ta from 20.07m
including 1.0m @ 12.72%
Cs₂O, 0.59% Li2O, and 521ppm Ta from 22.00m
|
PWM-24-
212
|
576325
|
5431128
|
349
|
71
|
-45
|
170
|
25.50
|
33.13
|
7.63
|
4.09
|
0.75
|
249
|
including 4.0m @ 7.70%
Cs₂O, 1.01% Li2O, and 321ppm Ta from 28.00m
including 2.0m @ 10.88%
Cs₂O, 1.08% Li2O, and 372ppm Ta from 29.00m
|
PWM-24-
213
|
576329
|
5431124
|
348
|
90
|
-45
|
170
|
24.30
|
31.75
|
7.45
|
0.14
|
1.60
|
360
|
including 5.9m @ 0.17%
Cs₂O, 2.00% Li2O and 392ppm Ta from 24.30m
|
PWM-24-
214
|
576285
|
5431136
|
348
|
90
|
-45
|
170
|
34.85
|
41.75
|
6.90
|
0.11
|
0.12
|
283
|
PWM-24-
215
|
576277
|
5431130
|
349
|
81
|
-45
|
170
|
No Significant
Results
|
PWM-24-
216
|
576273
|
5431160
|
345
|
72
|
-45
|
170
|
No Significant
Results
|
PWM-24-
217
|
576316
|
5431115
|
350
|
71
|
-45
|
170
|
13.40
|
21.50
|
8.10
|
1.77
|
2.22
|
962
|
including 5.5m @ 2.56%
Cs₂O, 2.26% Li₂O, and 1237ppm Ta from 14.50m
including 2.5m @ 4.67%
Cs₂O, 2.09% Li2O, and 1430ppm Ta from 17.50m
|
PWM-24-
218
|
576316
|
5431143
|
345
|
83
|
-51
|
170
|
31.00
|
35.05
|
4.05
|
0.12
|
0.62
|
257
|
including 2.8m @ 0.16%
Cs₂O, 0.89% Li2O, and 235ppm Ta from 31.00m
|
46.95
|
52.3
|
5.35
|
0.26
|
1.35
|
350
|
including 1.7m @ 0.68%
Cs₂O, 1.70% Li2O, and 401ppm Ta from 31.00m
|
PWM-24-
219
|
576339
|
5431161
|
339
|
81
|
-45
|
170
|
No Significant
Results
|
PWM-24-
220
|
576337
|
5431124
|
344
|
62
|
-45
|
170
|
23.65
|
26.75
|
3.10
|
0.05
|
1.15
|
226
|
PWM-24-
221
|
576321
|
5431116
|
349
|
71
|
-45
|
170
|
14.55
|
23.40
|
8.85
|
0.45
|
1.31
|
245
|
including 2.0m @ 1.28%
Cs₂O, 1.02% Li₂O, and 347ppm Ta from 21.40m
|
PWM-24-
222*
|
576302
|
5431120
|
345
|
30
|
-45
|
170
|
15.65
|
22.10
|
6.45
|
2.96
|
1.69
|
623
|
including 3.8m @ 4.96%
Cs₂O, 1.81% Li₂O and 843ppm Ta from 18.00m
|
PWM-24-
223*
|
576316
|
5431114
|
346
|
30
|
-45
|
170
|
11.75
|
20.20
|
8.45
|
4.55
|
1.96
|
681
|
including 4.3m @ 8.38%
Cs₂O, 2.09% Li₂O and 1102ppm Ta from 15.20m
including 0.95m @
17.71% Cs₂O, 1.83% Li₂O and 117ppm Ta from 16.75m
|
PWM-24-
224*
|
576309
|
5431125
|
344
|
30
|
-45
|
170
|
19.6
|
25.80
|
6.20
|
3.67
|
1.07
|
339
|
including 2.0m @ 10.52%
Cs₂O, 1.74% Li₂O and 306ppm Ta from 22.40m
including 0.6m @ 20.67%
Cs₂O, 1.45% Li₂O and 7ppm Ta from 22.40m
|
PWM-24-
225*
|
576311
|
5431106
|
34
|
30
|
-56
|
170
|
6.5
|
14.75
|
8.25
|
4.18
|
0.77
|
344
|
including 4.0m @ 8.33%
Cs₂O, 1.02% Li₂O and 499ppm Ta from 10.00m
including 1.0m @ 20.04%
Cs₂O, 0.54% Li₂O and 481ppm Ta from 10.00m
|
PWM-24-
226
|
576440
|
5431204
|
338
|
199
|
-45
|
170
|
No Significant
Results
|
PWM-24-
227*
|
576317
|
5431115
|
345
|
30
|
-45
|
170
|
13.85
|
22.00
|
8.15
|
4.21
|
1.38
|
340
|
including 3.0m
@ 10.61% Cs₂O, 1.75% Li2O and 238ppm Ta from 17.00m
including 1.0m @ 15.37% Cs₂O, 1.34% Li2O and
110ppm Ta from 18.00m
|
PWM-24-
228
|
576502
|
5431365
|
342
|
252
|
-45
|
170
|
No Significant
Results
|
PWM-24-
229
|
576617
|
5431200
|
341
|
252
|
-45
|
170
|
No Significant
Results
|
Main
Zone
|
PWM-24-
230
|
578217
|
5431598
|
353
|
122
|
-45
|
147
|
No Significant
Results
|
PWM-24-
231
|
578283
|
5431651
|
350
|
111
|
-45
|
147
|
51.65
|
65.50
|
13.85
|
0.02
|
0.73
|
63
|
including 5.15m
@ 0.03% Cs₂O, 1.59% Li2O and 91ppm Ta from
51.65m
|
PWM-24-
232
|
578305
|
5431659
|
347
|
71
|
-50
|
147
|
56.50
|
59.50
|
3.00
|
0.02
|
0.56
|
71
|
PWM-24-
233
|
578329
|
5431716
|
344
|
150
|
-45
|
150
|
No Significant
Results
|
PWM-24-
234
|
578145
|
5431515
|
352
|
111
|
-45
|
150
|
27.65
|
39.00
|
11.35
|
0.01
|
0.06
|
89
|
including 2.35m
@ 0.01% Cs₂O, 0.09% Li2O and 193ppm Ta from
27.65m
|
PWM-24-
235
|
578273
|
5431638
|
355
|
72
|
-45
|
147
|
37.70
|
51.45
|
13.75
|
0.03
|
0.63
|
53
|
including 5.30m
@ 0.04% Cs₂O, 1.29% Li2O and 80ppm Ta from
38.70m
|
* 2024 Phase II HQ holes for metallurgical testing
Sampling and QAQC Procedures
Samples were taken across every pegmatite and 1.5 meter into the
barren host rock on either side of dykes. Sample lengths were
around 1-metre NQ (48 mm) and HQ (64 mm) core diameter, though
individual sample length was determined based on internal zoning of
the dykes and the locations of their contacts. The sampled core was
cut in half with one half being sent for analysis and the other
half remaining in the box for reference. All core is stored at
Power Metals core storage facility in Cochrane, Ontario. Each sample was put into
its own plastic sample bag with a sample tag and closed with zip
ties. About 15% of the samples submitted SGS Canada ("SGS") for
analysis were QAQC samples that were inserted into the sample
stream and consist of a high- and low-grade lithium, Tantalum, and
Cesium standards, blank material, and duplicates. Samples were
dropped at SGS Cochrane, in Ontario. Samples submitted to SGS were
prepped, crushed, and pulverized in Sudbury and were subsequently sent to SGS
Burnaby and SGS Lakefield for multi element analysis using sodium
peroxide fusion ICP-AES/ICP-MS and borate fusion XRF. All cesium
results above 1% were analyzed using 4-Acid digest AAS at SGS
Lakefield. Assay results for products of ore sorting samples were
analyzed at SGS Lakefield using sodium peroxide fusion ICP-OES for
Lithium and borate fusion XRF for Tantalum and Cesium.
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 Corp (TSX-V: PWM)
PWM 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 cesium, lithium,
and high-growth specialty metals and minerals. We see an
unprecedented opportunity to supply the tremendous growth of the
lithium battery and critical mineral industries across North America. 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 onwww.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.