Business
Power Metals Provides Corporate and Drilling Update
Power Metals Provides Corporate and Drilling Update Canada NewsWire VANCOUVER, J...
About this update from Power Metals Corp.
[{"type":"text","content":"\n\n\n\nPower Metals Provides Corporate and Drilling Update\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, June 28, 2018\n\n\n\nVANCOUVER, June 28, 2018 /CNW/ - Power Metals Corp. (\"Power Metals Corp.\" or the \"Company\") (TSX VENTURE:PWM)(FRANKFURT:OAA1)(OTC:PWRMF) is pleased to provide an update to shareholders. Yesterday, the Company closed a $2,000,000 flow-through financing at $0.58, a substantial premium to the current market price. The Company is fully-funded for all drilling and exploration activities for 2018 which comprises of a 15,000 m drill program at Case Lake and drill programs at both our Gullwing-Tot and Paterson Lake properties.\n\n\n \n \n\n \nThe summer 2018 drill program at Case Lake commenced on June 21st, 2018 (see press release dated June 21, 2018). The Company will be providing results from the first drill hole in the next few days.\n\nJohnathan More, Chairman & Director, stated \"The overall market over the last month has proven to be difficult to say the least. Power Metals is very well funded and we are excited to be undertaking such a large drill program at Case Lake. We will be updating shareholders in the coming week on preliminary results from the first holes of drilling. We are puzzled by our recent drop in share price having just closed a large funding at a substantial premium to market and having just recently commenced drilling. We are all excited and confident on what is to come.\"\n\nDr. Selway, VP of Exploration, stated \"We are thrilled to commence drilling again at Case Lake for this extremely large drill program. We anticipate drilling in excess of 15,000 metres over several targets that we have identified through previous drilling and our successful mapping programs.\"\n\nHighlights from the 2017 fall/winter drilling on the Main Dyke includes:\n\n\nPWM-17-08: 1.94 % Li2O and 323.75 ppm Ta over 26.0 m\nPWM-17-09: 1.23 % Li2O and 148.0 ppm Ta over 16.0 m\nPWM-17-10: 1.74 % Li2O and 245.96 ppm Ta over 15.06 m\n\nLithium grades are up to 3.29 % Li2O over 1.0 m in PWM-17-08 in the quartz core...