SEDAR's website has been 'unique' lately so I stepped away from it for a good while; but, it seems things are back in order and there was some management discussion and analysis filings from PWM on July 31. Nothing newsy, but it's a really good summary of the project so far- for the longs keenly waiting on news, it's probably well tread territory, but
there was something in there that really piqued my interest when combined with the new magnetic surveys. I'm not sure how SEDAR's site reacts to search result links, but here they are! You may have to go there manually however. Analysis below!
https://www.sedarplus.ca/csa-party/viewInstance/view.html?id=0c11f8b7998bcd96081d1d50df0e47082a9a3c8eed679645&_timestamp=5351427140305830.
https://www.sedarplus.ca/csa-party/viewInstance/view.html?id=0c11f8b7998bcd96081d1d50df0e47082a9a3c8eed679645&_timestamp=5351427140305830
Having everything all in one place is nice because it shows some of the good and the bad all in one place which makes a meta analysis much easier. I'll start with the bad, because I believe the facts are the facts and I understand why the company wouldn't want to/ why it wouldn't be worth the time/cost to broadcast it, but people should be aware!
The last update for the 2022 program dated October 22, 2022 notes, "Power Metals 2022 summer drill program is for 5000 m and over 2700 m has been completed to date." (p20/36) The next update however is May 15, 2023 and solely concerns the 2023 exploration program. This suggests 2300m of drilling in 2022 either wasn't completed, or had no results worth publishing. I think that's important to note, because it shows that there is always the chance for a swing and a miss. The hits were great hits undoubtedly, but it seems there were a couple strikes mixed in (baseball strikes, not mining strikes, my metaphor game is really confusing). If someone has some clarifying information regarding this I would love to know more! It's not a deal breaker, but show's the nature of exploratory mining if indeed the results just weren't stellar.
Moving on to what is really exciting once it's all together in one place though! Although the 2022 program has those missing meters listed above, what they did publish included that chunky, shallow, Cesium pod in West Joe. The 24% reading at 15m depth is literally world class; however, what really makes things interesting is the conclusions on page 6/36:
"Elevated Cs assays and pollucite has been previously identified in drill hole
PWM-18-49 in the first new dyke
below Main Dyke:
• 2.00 % Cs2O over 2.0 m interval, from 32.45 to 34.45 m Elevated Cs assays has also been identified in drill hole
PWM-18-71 in the
Northeast Dyke:
•
2.52 % Cs2O over 1.0 m interval, from 25.0 to 26.0 m The presence of Cesium mineralization in West Joe, Main and Northeast Dykes along the same strike suggests a common origin for these dykes and the possibility of more Li-Cs-Ta mineralization to be found." (Page 6/36)
When this info is combined with the magnetic map, which shows some very large shallow geological structures running along that particular strike length, it really suggests the possibility of additonal Cesium minierlization between Main and West Joe. Given the depth at Main and Northeast, this wouldnt have been readily apparently based on surface surveying alone. If you compare the 2018 to the 2022 map you can really see how much more detail they have to work with.
I go on and on about the Cesium play here because if you look at any other LTC play right now, even the 2% at 2m is signficantly higher than pretty much any results being published.
Finally, going over the company's exploration strategy I noticed something that makes me question if there's a step in between the magnetic maps and the drilling- some of the verbiage on this subject is a little unclear to someone not in the field. Page 21/36 notes:
"On June 8th, 2023, Power Metals completed high-resolution airborne magnetic and LiDAR surveys on its 100% owned Case Lake Property.
The two surveys were completed in May 2023 and will be followed by field-based prospecting and mapping programs that are expected to start later this month. The Company has drilled a total of 15,700 meters of core between 2017 and 2022 and is fully-funded for an upcoming 15,000-meter drill program. The Company has in excess of $10 million in the treasury."
"-Detailed remote sensing survey that include acquisition of high-resolution aerial imagery and LiDAR data will be completed by KBM Resources Group later this month.
-Power Metals will mobilize field exploration crew that will focus on prospecting and geological mapping in June.
-The company is fully budgeted for 15,000-meter drill program that is expected to start late in the summer."
Does field prospecting suggest grab sampling and channel anlysis/cartographic endeavours and then drilling? Or is that just jargon for, many things drilling included? The way I read it, it sounds like there's a whole step in between the magnetic maps and the drilling based on their seperation as different bullets, but I'm not quite clear on that. Would love to get a more informed opinion on this!
I'm not overly worried, because as I've noted before, this is a pretty established mining jurisdiction, albeit for gold, with almost year-round access if necessary. Results will come when they come!
If you made it all the down here, I hope you have a really great day! I'm going to be trying to geolocate those holes and cross reference/overlay them onto the mag maps if I can, but that's for another day. Take care of yourself! <3