Business
Power Americas Closes Property Acquisition at Kittson
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2018) - Power Americas Minerals Co...
About this update from Edison Lithium Corp.
[{"type":"text","content":"Power Americas Closes Property Acquisition at KittsonVancouver, British Columbia--(Newsfile Corp. - February 8, 2018) - Power Americas Minerals Corp. (TSXV: PAM) (\"Power Americas\" or the \"Company\") is pleased to announce it has closed its previously announced (see news release 11-22-2017) acquisition of an additional 100% interest in 10 unpatented mining claims totaling 140 units having a combined area of approximately 2,240 hectares. Power America's 100% owned Kittson Project now consists of 15 unpatented mining claims totaling 208 units having a combined area of approximately 3330 hectares.Eight of the new claims are contiguous to Power America's Kittson property located approximately 8 km northwest of the town of Latchford and 120 km by road north of North Bay in the Coleman, Kittson and Brigstocke Townships of the Larder Lake Mining Division, in Northeastern Ontario. Two of the new claims are approximately 5 km south of the Kittson properties southern boundary.This newly acquired ground has prospective geology covering Nipissing diabase and is interpreted to host the western extension of the Shakt-Davis and Edison mine structures. Due diligence sampling this past fall by the company on these structures returned up to 0.97% Co (see news release 12-19-2017). Two separate claims ~5 kilometres south of the Kittson property cover a cobalt showing which has returned up to 0.14% Cobalt and 0.68 g/t gold listed in the Ontario Geological Surveys Mineral Deposit Inventory (MDI31M05SW00020) and previously held by Tri-Origin Exploration. Further field work is planned for this spring to in order to generate drill targets on this new ground. Drilling continues on the Shakt-Davis mine structure (see news release 01-23-2018), with 5 holes totaling ~800m completed thus far.Power Americas acquired 100% interest in the properties for a purchase price of $1,511,250 paid by the issuance of 13,000,000 common shares of the Company at a deemed price of $0.11625 per share. About the Kittson-Cobalt Project The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Shakt-Davis and Cobalt-Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over 2,500 feet of lateral workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted i...