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Power Metals prepares for spring drill programme

2nd April 2018

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

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VANCOUVER (miningweekly.com) – Exploration junior Power Metals is preparing to undertake an 8 000 m spring drill campaign on its Case Lake spodumene project, in Ontario, advising that it could increase planned drilling to 7 000 m during the fall, for total planned drilling of 15 000 m this year.

The Vancouver-based company said previous drilling had intersected encouraging lithium grades, including 2.11% lithium oxide (Li2O) over 11 m; 1.81% Li2O over 17 m; and 1.94 Li2O over 26 m.

Power Metals advised that the diamond drill programme is fully funded and that it already has the required exploration permit for the drilling in hand. Power Metals is planning to meet with Aboriginal groups in the Cochrane area in April, it noted.

The proposed spring/early summer drill campaign will target the new spodumene pegmatite dykes located between the Main Dyke and the South Dyke. These new spodumene dykes were discovered at the end of the 2017 Main Dyke drill programme. One of the new dykes was intersected in drill hole PWM-17-49, with 1.61% Li2O and 143.8 ppm tantalum over 3 m.

The spring/early summer drill programme will also target the area between the Main Dyke and the Northeast Dykes. Coarse-grained spodumene pegmatite was intersected in the 5 400 m drill programme on the Main and North Dykes and in the 3 020 m drill programme on the Northeast Dyke.

The Northeast Dyke is located 900 m northeast along strike of the North and Main Dykes and is within the same tonalite dome as the North and Main Dykes. Since the Northeast, North and the Main Dykes are along the same strike and within the same dome, this indicates that they were emplaced along the same deep-seated structure. The drill programme between the Main and Northeast Dykes will test the presence of the spodumene mineralisation along strike.

A drill programme will test spodumene mineralisation identified during the mapping programme on granitic outcrops west of the Main Dyke, Power Metals said.

Further targets will be drilled in the fall of 2018, including the East Dyke, down dip extension of Main Dyke and dome targets identified during the spring mapping programme.

“The explorational upside is immense on the property and each drill target can substantially increase the overall resource size that we are building,” VP for exploration Dr Julie Selway commented in a news release.

MGX Minerals currently has a paid-up 20% working interest in Case Lake and four other lithium hard rock properties in Ontario controlled by Power Metals, as well as any additional properties acquired prior to August 2020. MGX has the right to acquire a further 15% working interest, for a total of 35%, in Case Lake and the other lithium properties by making a one-time payment of C$10-million before August 2020. MGX holds an option to acquire ten-million shares of Power Metals at C$0.65 apiece, and representing a little under 10% of Power's issued and outstanding shares.

Edited by Creamer Media Reporter

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