POWER METALS COMMNECES FIELD EXPLORATION PROGRAM AT CASE LAKE

Power Metals Corp. (" Power Metals " or the " Company ") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce that the company is commencing its 2023 field exploration program on its 100% owned Case Lake Property ("The Property") in northeastern Ontario . The program includes high-resolution airborne magnetic and LiDAR surveys, which will be followed by field-based prospecting and mapping programs.

Johnathan More , Chairman of Power Metals commented, "We are excited to start our exploration program at Case Lake. Our contractors are engaged, and the magnetic and LiDAR surveys will greatly enhance our ability to complete an effective field exploration program later in the Spring. We expect to follow-up the field exploration work with a drill program later in the summer."

2023 FIELD EXPLORATION HIGHLIGHTS
  • High-resolution airborne magnetic survey with focus on identification of structural corridors that host Lithium-Cesium-Tantalum (LCT) pegmatites will be completed by Precision GeoSurveys Inc. by the third week of this month.

  • 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.

In addition to initiation of the field exploration programs, Power Metals is actively working on desktop compilation of historical and recent exploration data to generate quality prospects and targets at the Case Lake Property. The company is also developing an exploration strategy in collaboration with a highly experienced team that the company is able to access through its relationship with Winsome Resources.

Case Lake Property

The Case Lake Property is located 80 km east of Cochrane , northeastern Ontario close to the Ontario - Quebec border. The Property consists of 579 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Property is 10 km by 9.5 km in size with 14 tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dikes known as the North, Main, South, East and Northeast dikes on the Henry Dome, and the West Joe dike on a new tonalite dome, collectively forming mineralization trend that extends for about 10 km.

Power Metals have completed several exploration campaigns that have led to the discovery and expansion of new and historic spodumene bearing LCT pegmatites at Case Lake. The Company has drilled a total of 15,700 meters of core between 2017 and 2022 at The Property.

The Case Lake Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017 .

Figure 1. Case Lake property with Spodumene bearing LCT pegmatites on a 10 km mineralization trend. (CNW Group/POWER METALS CORP)

Scientific and Technical Disclosure

The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein , P.Geo., Vice President of Exploration for Power Metals, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects.

The Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com .

ON BEHALF OF THE BOARD,

Johnathan More , Chairman & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States , or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.

POWER METALS CORP Logo (CNW Group/POWER METALS CORP)

SOURCE Power Metals CORP

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2023/15/c2729.html

News Provided by Canada Newswire via QuoteMedia

PWM:CC
The Conversation (0)

POWER METALS COMPLETES AIRBORNE GEOPHYSICAL SURVEYS AT CASE LAKE

Power Metals Corp. (" Power Metals " or the " Company ") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce the completion of high-resolution airborne magnetic and LiDAR surveys on its 100% owned Case Lake Property ("The Property") in northeastern Ontario . 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.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
POWER METALS SELLS ROYALTY INTEREST ON CASE LAKE PROJECT TO LITHIUM ROYALTY CORP

POWER METALS SELLS ROYALTY INTEREST ON CASE LAKE PROJECT TO LITHIUM ROYALTY CORP

Power Metals Corp. (" Power Metals " or the " Company ") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce that the Company has entered into an agreement to sell the 2% Gross Overriding Revenue royalty on the Case Lake Lithium Project to Lithium Royalty Corp. ("LRC") for $1,500,000 .

POWER METALS CORP Logo (CNW Group/POWER METALS CORP)

Ernie Ortiz , President and CEO of Lithium Royalty Corp. commented: "This transaction adds the 32nd royalty to the LRC portfolio, our third since our March 15th, 2023 IPO transaction, and our sixth royalty in Ontario . We are pleased to partner with Power Metals Corp at its prospective Case Lake Project in an established and supportive mining jurisdiction."

Johnathan More , Chairman of Power Metals Corp., commented "The funds from this transaction will be added to a very strong treasury with a current cash position in excess of $10 million .  We are fully funded for our upcoming summer exploration and drill program at Case Lake.  We welcome Lithium Royalty Corp.'s involvement and developing our discovery at Case Lake."

Currently, the Company is planning a large-scale drill program for summer 2023 with plans to drill upwards of 15,000 meters.  Upon completion of the program, the Company intends to conduct a mineral resource calculation in the next six to nine months.

About Power Metals Corp.
Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects.  We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com

ON BEHALF OF THE BOARD,

Johnathan More , Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States , or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering.  These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on   www.sedar.com   .

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.

SOURCE Power Metals CORP

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2023/04/c0315.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
SAGA Metals Reports Significant Final Drill Holes from the 2025 Winter Program at Radar Ti-V-Fe Property in Labrador

SAGA Metals Reports Significant Final Drill Holes from the 2025 Winter Program at Radar Ti-V-Fe Property in Labrador

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the final drill results from its 2025 maiden drill program at the Radar Ti-V-Fe Property, located near the port of Cartwright in Labrador, Canada. The Property comprises 24,175-hectares and entirely encloses the Dykes River mafic layered intrusive complex.

Saga Metals Confirms Technical Success with the Drill:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  DNV Comparison Study on CERENERGY Technology

Altech Batteries Ltd DNV Comparison Study on CERENERGY Technology

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce that as part of its funding strategy and due diligence plan, an independent study has been conducted on the CERENERGY(R) technology versus alternative technologies such as lithium-ion, sodium-sulphur and vanadium flow batteries. DNV was engaged to produce an independent, high-level comparison report evaluating CERENERGY(R) technology against these alternative technologies. DNV is one of the leading energy storage technical advisors and specialises in the identification, evaluation, testing, and certification of battery energy storage systems worldwide.

Highlights

- As part of funding due diligence plan

- Independent comparison study of CERENERGY(R) technology

- DNV was engaged by Altech

- DNV is one of the leading energy storage technical advisors

- CERENERGY(R) - Promising emerging battery technology

The complete comparison report has been prepared specifically for Altech Batteries GmbH and is confidential. Nevertheless, Altech is pleased to publish the Executive Summary of the technology comparison at cell level in the following qualitative overview. Table 1 gives a high-level overview of the advantages and disadvantages for the listed characteristics in comparison to the most widely used technologies on the market against CERENERGY(R) sodium chloride solid state (SCSS) technology.

The DNV primary conclusion states "CERENERGY(R) is one of the promising emerging technologies. Further improvements in terms of the achievable energy density, performance, and cost efficiency can be expected in the coming years" (DNV, May 2025).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/66D7P180



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
SAGA Metals Announces First Tranche Closing

SAGA Metals Announces First Tranche Closing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Saga Metals Corp. (the "Company" or "SAGA") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce that it has closed a first tranche (the " First Tranche ") of its non-brokered private placement announced on May 2, 2025 (the " Offering ") for gross proceeds of $1,239,700.10. The Company has also received a 30-day extension to close the Offering from the TSX Venture Exchange, and accordingly expects to close the final tranche of the Offering on or before June 25, 2025.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
SAGA Metals Reports Significant New Drilling Results from Radar Ti-V-Fe Project in Labrador

SAGA Metals Reports Significant New Drilling Results from Radar Ti-V-Fe Project in Labrador

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce additional drill results from its 2025 maiden drill program at the Radar Ti-V-Fe Project, located near the port of Cartwright in Labrador, Canada. These results further validate the presence of a strong, arcuate magnetic-high anomaly identified in regional magnetic surveys within the central zone of the Dykes River layered mafic intrusive complex.

Saga Metals Confirms Additional Geological Success with the Drill:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×