Business
Power Metals Corp. Acquires MMJ Zeolite Project in Nova Scotia; Pursues Leading Zeolite Market Position
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 15, 2017) - Power Metals Corp. ("Power Metals Corp." or the "Company") (TSX VENTURE:PWM) (FRANKFURT:OAA1) is ve
About this update from Power Metals Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 15, 2017) - Power Metals Corp. (\"Power Metals Corp.\" or the \"Company\") (TSX VENTURE:PWM) (FRANKFURT:OAA1) is very pleased to announce that it has entered into an agreement (the \"Agreement\") to acquire the MMJ Zeolite Project, situated in Nova Scotia, Canada. The MMJ Zeolite Project represents the inauguration of the company's strategy to pursue a leading zeolite market position in Canada. \"We believe Power Metals can add significant shareholder value for investors in the fast-growing zeolite marketplace, which displays robust demand from new agricultural and clean-technology sectors. With today's announcement, Power Metals becomes one of Canada's premier zeolite project proponents as reflected by our capitalization and financial resources. This drill-ready zeolite asset fits nicely into our advanced project portfolio, which also includes lithium brines in Alberta and our hard-rock Case Lake lithium project in Ontario. Nova Scotia's zeolites are world-renowned and Power Metals is most pleased to have acquired an advanced-stage zeolite asset in such close proximity to the large population and manufacturing bases of North America's east-coast. Historic zeolite exploration in Nova Scotia pre-dates the emergence of new prospective agricultural markets which makes this zeolite asset acquisition extraordinarily exciting for our company. We have also been reviewing further zeolite projects and it is our intention to capitalize on additional zeolite opportunities in the near-future which should help position Power Metals as a premier publicly-traded company for zeolite assets. We look forward to scaling up our zeolite asset base, zeolite exploration plans and zeolite marketing efforts,\" stated Johnathan More, Director of Power Metals. About the MMJ Zeolite Project The MMJ Zeolite Project consists of five contiguous mineral claims comprising 437 ha of tenure, (or approximately 1,079 acres) and is located near road and powerline access. Importantly, and for the first-time, the MMJ Zeolite Project brings together the contiguous tenure of two historic zeolite projects from two different operators who independently identified highly-prospective zeolite projects. The southern-half of the MMJ Zeolite Project covers and expands on tenure previously diamond-drilled and advanced by C2C Minin...