Nice step out drilling Power Metals Intercepts High Grade Spodumene on New Northeast Dyke and Increases Drill Program to 3,000 metres
00:05 EST Monday, January 22, 2018
VANCOUVER, Jan. 22, 2018 /CNW/ - Power Metals Corp. ("Power Metals Corp." or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1)(OTC:AOUFF) is pleased to announce that ongoing drilling has successfully intersected significant high-grade lithium mineralization on the Northeast Dyke at the Company's Case Lake Property in Ontario (see figure 1). The drill program is in its early stages and the presence of up to 30% coarse grained spodumene in drill core has been found in several of the first few holes. The Company is busy logging and cutting core and the first batch of samples have recently been shipped to SGS preparation lab in Cochrane, Ontario. Due to this successful occurrence the Company has increased its current drill program from 2000m to 3000m.
Dr. Julie Selway, VP of Exploration stated, "This is over a 900 meter step out from our previously drilled mineralized Main Dyke and the presence of high grade spodumene in the drill core is spectacular. Because of this early success, we will be increasing the drill program from 2000m to 3000m."
Power Metals is drilling the first drill holes on the Northeast Dyke and the first drill holes on the claim. We started the drill program with drilling shallow holes below the spodumene-rich outcrop of assays up to 7.14% Li2O (see press release dated December 4 th 2017) and then stepped out to drill down dip and along strike. These early drill holes are helping Power Metals' exploration team to determine the orientation of the pegmatite dyke. A preliminary 3D model has been started to help with drill targeting.
The Northeast Dyke is located 900 m northeast along strike of the recently completed 5400 m drill program on 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. 50 drill holes were completed on the Main Dyke in December 2017 which encountered multiple wide intercepts of very high grade Li20.
Johnathan More, Chairman of Power Metals stated, "This is significant event as this major step out on the Northeast Dyke has hit spodumene grades consistent with our previously drilled Main Dyke. This will no doubt substantially increase our numbers when we undertake a resource estimate as drilling continues. I would like to congratulate Julie and our exploration team on this incredible success.