Power Metals Corp. ("Power Metals Corp." or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) is pleased to announce the engagement of Thibault and Associates Inc (“Thibault”), of Fredericton, New Brunswick, whereby Thibault will provide an independent review of processing options for development of both the Case Lake Project and the Company’s various Petro-Lithium projects both in Canada and the USA. Once a technology is formulated which is of specific benefit to each project, this technology will be developed for Power Metals as “sole rights” to the Company. This approach provides Power Metals with the best available technology relative to the feedstock and production strategy to comply with end user requirements.
Power Metals is in discussion on a development concept that would be based on a Central Lithium Chemical Refinery (CLCR) capable of processing feedstock from hard rock operations (like Case Lake and Larder River projects), intermediate product from petro-lithium brine (from various sources) and battery recycle (battery guts from a recycler not involved in processing in order to obtain added revenue from 5N grade cobalt and or 4N grade manganese for battery use).
Johnathan More, Chairman of Power Metals states, “After an exhaustive review of processing solutions and discussions with leading groups internationally, Power Metals is very pleased to have a one stop shop for our assets with the experts at Thibault delivering a bespoke solution at each of our projects. We look forward to combining this with our exploration strategies to maximize shareholder value.”
The Company is also please to announce the closing of the definitive agreement with American Potash (“AMP”) from the previously announced press release date March 1st 2017. Johnathan More continues, “We are pleased to partner with American Potash on this exciting petro-lithium project in the Paradox Basin. We benefit from their early mover advantage having been in the Paradox basin for nearly a decade. We now have a commanding land position – one of the largest in the Basin – and believe that the key ground that our partner secured years before the recent staking rush puts Power Metals in a prime position to target the potential highest concentration areas for lithium brines, given historical results within the land package and adjoining it.”