Business
Power Metals Announces Completion of Option Agreement at Case Lake
Power Metals Announces Completion of Option Agreement at Case Lake Canada NewsWire...
About this update from Power Metals Corp.
[{"type":"text","content":"\n\n\n\nPower Metals Announces Completion of Option Agreement at Case Lake\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, July 30, 2019\n\n\n\nVANCOUVER, July 30, 2019 /CNW/ - Power Metals Corp. (\"Power Metals Corp.\" or the \"Company\") (TSX VENTURE:PWM)(FRANKFURT:OAA1)(OTC:PWRMF) is pleased to announce that we have acquired 100% ownership of Case Lake lithium property located 80 km east of Cochrane, Ontario. Power Metals completed the option agreement with a third party in June 2019. As a result, Case Lake cell claims involved in the option agreement have been transferred to 100% Power Metals in Ontario's government Mining Lands Administration System (MLAS). \n\n \n \n\n \nCase Lake is Power Metals priority property and the completion of the option agreement shows our strong commitment to the property and the belief in its Li-Cs-Ta potential. Power Metals has conducted three drill programs on the Case Lake property: \n2017 summer drill program consisting of 5405.08 m, 50 drill holes on North, Main, South and new Dykes 2018 winter drill program consisting of 3020.0 m, 33 drill holes on Northeast Dyke 2018 summer drill program consisting of 4571 m, 44 drill holes on Main, new dykes between Main and South, East and West Joe Dykes.The highlight of the 2018 summer drill program was the discovery of the West Joe spodumene pegmatite with high grade Li, Cs and Ta mineralization. \nCase Lake\nCase Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East, Northeast and West Joe Dykes. As per the option agreement dated June 16, 2018, the Net Smelter Royalty (NSR) is calculated as 35% of 2% of the Net Smelter Return for products mined on the property. The Net Profit Royalty (NPR) is calculated as 35% of 3% of the Net Profits for products mined on the property.\nQualified Person\nJulie Selway, Ph.D., P.Geo. supervised the preparation of the scientific and technical disclosure in this ne...