Power Metals Corp. ("Power " or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) is pleased to announce the results of the laboratory analysis of the 606 soil samples over the 1.6 KM grid from its previously announced press release date December 7th, 2016.
Lithium and Rubidium levels averaged higher than at the Brazil Lake deposit, in the same geological setting.
A core drilling program of 28 holes in 2011 at Brazil Lake encountered Li2O as high as 7.7 percent in spodumene with average deposit drill intersection grades of 1.08 per cent (north pegmatite dike) and 1.39 per cent (south pegmatite dike).
The company has attached pictures of the high-grade spodumene crystals at Brazil Lake on it's website at http://www.Powermetalscorp.com
Power Metals CEO Johnathan More noted "The spodumene crystals at Brazil Lake bear close resemblance to those at Kings Mountain, North Carolina. North Carolina's Gaston and Cleveland Counties at one point contained more than 80 percent of the known reserves in the United States and produced over 50 percent of the world's estimated output of lithium. Those properties were the beginning of what is now the massive FMC Lithium Corp (Albermale)."
The Company is highly encouraged with the results to date and is accelerating the commencement of the planned drill program to take place in early Q1, 2017.
At Case Lake, in preparation for its drill program also set for early Q1, 2017, the company has commenced a process of re-assay on approximately 500m of existing core from the 2010 drill program which includes highlights:
- 14.07 metres at 1.35 per cent Li2O;
- 9.2 metres at 1.98 per cent Li2O;
- 8.8 metres at 1.02 per cent Li2O;
- 4.4 metres at 1.49 per cent Li2O.
Case Lake is host to three main dikes currently with the potential to host many more, including the untested northeast dike that sampled 2 percent Li2O (lithium oxide). The local geology of pegmatite dike swarms gives Case Lake the potential for large tonnage.
Spodumene-rich pink pegmatites outcrop intermittently over at least 1,200m, representing 15 percent of the Main dike. Government geologic mapping indicates the presence of pegmatites over a strike length of in excess of 5km.
John F. Wightman, MSc. (Geology), P.Eng., FGAC, a qualified person, prepared the disclosure reports related to this project. National Instrument 43-101 reports have not been prepared on this property.