Power Metal Signs an Agreement to Earn-in to a 100% Interest in
HIGHLIGHTS
Power Metal Canada may earn-in to a 100% interest in two lithium exploration properties, Authier North and
Authier North Property is adjacent to
Duval East Property is immediately adjacent and east of a northwest-southeast trending lithium pegmatite dyke which was drilled in 1955 with reported intersections equivalent to to 2m @ 1.38 Li2O1. The easternmost historical drill hole on this lithium bearing pegmatite dyke falls within the Duval East Property boundary and the dyke is postulated to extend into the claim.
We believe that lithium is an important strategic commodity to have within our portfolio. However, as an exploration and development company what matters most is the quality of opportunity, which we think we have with these two Earn-in properties.
One property is situated adjacent to a major lithium Reserve that offers significant exploration potential and the second property is interpreted to host the open eastward extension of a historical lithium deposit delineated in the 1950s, which holds potential subject to further drilling.'
FURTHER PROPERTY INFORMATION
The Earn-in Agreement announced today concerns two properties, Authier North and
Authier North Property
The Authier North Property consists of fifteen (15) mineral claims covering an area of approximately 560-hectares and is considered to be prospective for lithium-pegmatites and base metal mineralisation.
The Authier North Property shares an extended claim border with
Additionally, in
Sayona's Authier lithium project consists of a spodumene pegamatitic intrusion which dips to the north and it is postulated into the Authier North Property.
Very little historic exploration has been completed on the Authier North Property, with reports of five short boreholes (four of which returned elevated lithium and nickel assays) and only 4 rock samples which returned strongly anomalous chromium and nickel results (up to 0.42% Cr203 (Chromium (III) Oxide), and 0.21% nickel).
The Company's planned exploration will include geophysical surveys which aim to model the possible down dip extension of the lithium bearing pegmatite onto the Authier North Property.
Duval East Property
The Duval East Property consists of one (1) mineral claim covering an area of approximately 20-hectares and is located 3km east of the Authier North Property.
The pegmatite dyke trends in a northwest-southeast direction and remains open on its eastern end which falls within the Duval East Property boundary. The Company's planned exploration on the property may include diamond drilling testing for extensions of the lithium bearing pegmatite dyke within the Duval East Property.
Contact:
Tel: +44 (0) 7766 465 617
Notes to Editors
The Company has a global portfolio of project interests including precious, base and strategic metal exploration in
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company's position to become a leader in the
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