Power Metals, MGX drill 7.72m of 20-30% spod. at Case

Sep 6, 2018

2018-09-06 06:37 ET – News Release

See News Release (C-PWM) Power Metals Corp

Mr. Johnathan More of Power Metals reports

POWER METALS INTERSECTS HIGH-GRADE SPODUMENE IN 35 M OF PEGMATITE AT CASE LAKE

Power Metals Corp. and MGX Minerals Inc.’s drill hole PWM-18-123 has intersected 35 metres of pegmatite including high-grade spodumene zones on the West Joe dike, Case Lake property, 80 kilometres east of Cochrane in Northeastern Ontario. Power Metals drilled holes PWM-18-123 and 124 parallel to the West Joe dike to test the downdip continuity.

Drill hole PWM-18-123 intersected the West Joe pegmatite dike from zero to 35 m which includes the following spodumene-rich pegmatite zones:

0.5 to 19 m (18.5 m interval) with 10 to 15 per cent spodumene;
20 to 20.5 m (0.5 m interval) with 20 to 30 per cent spodumene;
23.28 to 31.0 m (7.72 m interval) with 20 to 30 per cent spodumene;
32.1 to 34 m (1.9 m interval) with 10 to 15 per cent spodumene.

Drill hole PWM-18-124 intersected spodumene pegmatite from 1.5 to 18.9 m (17.4 m interval) with up to 10 per cent spodumene. Drill hole PWM-18-124 also intersected spodumene pegmatite from 36.3 to 57.5 m (21.2 m interval) which includes the following spodumene-rich pegmatite zones:

36.7 to 45.8 m (9.1 interval) with 7 per cent pink, pale green and grey spodumene;
45.8 to 51.5 m (5.7 m interval) with 25 per cent pale green spodumene in spodumene granite.

More drilling will be conducted to determine if the two spodumene pegmatite intersections are two separate dikes or one dike with a large tonalite xenolith.

Dr. Julie Selway, vice-president of exploration, stated: “We are impressed by the abundance of spodumene in the West Joe dike and will work on mapping the outcrops around it and the 3.0 km area between the West Joe, Main and Northeast dikes to explore the extent of the lithium mineralization.”

West Joe spodumene pegmatite is located 1.6 km southwest of the western edge of the main dike and 3.0 km southwest of the northeast dike. This new zone is a significant stepout from the main dike and has opened up huge potential for drilling.

West Joe dike has two pegmatite zones which host spodumene mineralization, similar to that in the main dike: (1) inner intermediate zone with very coarse-grained pale green to white spodumene, K-feldspar and quartz and (2) spodumene granite with abundant medium-grained spodumene, K-feldspar, albite and quartz. Spodumene granite is a medium-grained granite with spodumene as the accessory mineral and is unique to the Case Lake property.

West Joe, main and northeast dikes occur along a southwest-northeast trend. As the spodumene mineralization is the same in all three dikes and the dikes are along the same trend, the 3.0 km area between West Joe, main and the northeast dikes is a large exploration target for potentially more spodumene pegmatites.

Case Lake

Case Lake property is located in Steele and Case townships, 80 km east of Cochrane in Northeastern Ontario, close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of six spodumene dikes: north, main, south, east and northeast dikes on the Henry dome and the West Joe dike on a new tonalite dome. Power Metals has an 80-per-cent interest with its 20-per-cent working interest partner MGX Minerals.

Qualified person

Dr. Selway, PGeo, supervised the preparation of the scientific and technical disclosure in this news release. Dr. Selway is the vice-president 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 PhD on granitic pegmatites in 1999 and worked for three years as a pegmatite geoscientist for the Ontario Geological Survey. Dr. Selway also has 23 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 is a diversified Canadian mining company with a mandate to explore, develop and acquire high-quality mining projects. The company is committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. The company sees an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries.

We seek Safe Harbor.

https://www.mgxminerals.com/investors/news/2018.html