Power Americas Begins Drilling on Kittson-cobalt Project
August 14, 2018 (Source) — Power Americas Minerals Corporation (“Power Americas” or the “Company“) (TSX-V: “PAM”) is pleased to announce it has commenced the summer drill program on their Kittson-Cobalt Project located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada. A total of 20 holes for 2,000 metres are planned on the newly acquired Thomas Edison Mine (see news release May 30, 2018).
- 2,000-meter helicopter supported drill program now underway
- 20 holes planned at the historic Thomas Edison mine
- Drill holes lengths ranging from 50 to 200 metres will test mineralization both near surface and below historic workings
Jeffrey Cocks, President and CEO said: “The Thomas Edison mine, originally developed by the famous inventor and entrepreneur as a source of cobalt for his groundbreaking iron-cobalt batteries was a landmark acquisition for Power Americas. The Thomas Edison mine has not seen any exploration since 1907, we are very excited to see the first cobalt results from this historic property in over 100 years.”
The drilling program was delayed by severe forest fires in northeast Ontario this summer, one of which burned small portion of the Kittson-Cobalt Project’s western claim group. These fires caused a prohibition by the Ministry of Natural Resources and Forestry of Ontario, on the use of machinery in the woods which was only recently lifted.
The fracture zone which hosts the Thomas Edison mine is interpreted to be the same that hosts the Shakt-Davis mine located 1 km to the east. The Shakt-Davis mine has returned grab samples up to 3.66% cobalt (see news release October 3 2017) and 0.46% Co over 1.50 meters in shallow drilling (see news release January 16 2018).
Concurrent with the diamond drill program an extensive regional mapping and prospecting program is underway on the Larger Kittson Cobalt project. This program will trace the full extent of the fracture system which hosts Thomas Edison, Shakt-Davis, and Kittson mines as well as follow up on initial prospecting on the western claim group acquired in late 2017 (see new release November 22, 2017).
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About the Kittson-Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic Thomas Edison, Shakt-Davis and Cobalt-Kittson mines, as well as numerous historic workings, the deepest extending down to 628 feet, and over 2,500 feet of lateral workings. Cobalt mineralization occurs in Proterozoic-aged quartz-carbonate veins hosted in brittle shears in Nipissing diabase. This style of mineralization is similar to that of the famous Cobalt Silver Camp Located ~15 km east of the Property, which produced 420 million ounces of silver with cobalt as a significant by-product. Veins hosting the mineralization at the Kittson-Cobalt Project differ from the typical Cobalt Silver Camp veins in that they are lower in silver but richer in cobalt, and are associated with significant gold. Historic reports from the Shakt-Davis mine indicate values of 1.5% Co over 1.37 metres and select grab samples returning up to 4% Co and 93.3 g/t Au. Locally significant nickel, copper and to a lesser extend lead, zinc and bismuth also occur within the quartz-carbonate veins.
About Power Americas Mineral Corp.
Power Americas Minerals Corporation is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals in North and South America. Power Americas’ acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential. The Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol “PAM”, the OTC Pinks under the symbol “PWMRF”, and on the Frankfurt Exchange under the symbol “VV0”.
The technical content of this news release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a director of the Company, and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws). Such information is identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”,”outlook”, “foresee” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information includes, but is not limited to, statements or information related to the use of the net proceeds of the Offering. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information except as required by law.
Neither 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 this release.
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