Power Americas Intersects Positive Drill Results on Its Kittson-Cobalt Project
May 23, 2018 (Source) — Power Americas Minerals Corporation (“Power Americas” or the “Company“) (TSX-V: “PAM”) is pleased to announce the first results of their winter diamond drilling program on their Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.
A total of 17 drill holes, totaling 1,750 metres, of BTW-size core were drilled, 15 targeting the Shakt-Davis mine area and 2 holes targeting the eastern extension of the Edison mine. The program successfully intersected the fracture zone that hosts the Shakt-Davis mineralization over a strike length of 125 metres and to a maximum depth of 170 metres. The fracture zone ranged from 5 to 30 metres wide (drilled core length) and hosted several 0.1 – 1.0 metre quartz-carbonate veins surrounded by intense carbonate alteration. Fracture- and vein-controlled cobalt mineralization in the form of smaltite occurred throughout this zone with values up to 0.05% Co over 29.24 metres. A full list of significant intersections is provided in Table 1 below. Drill Location maps and cross-sections can be found on the Company’s website by following: “Click here to view maps and cross sections.”
Commenting on the latest results, Jeffrey Cocks, President and CEO said: “We’re highly encouraged by these broad zones of cobalt mineralization at the historic Shakt-Davis mine area. Coupled with the discovery of Co mineralization in both drill holes further to the east near the Edison workings, these results suggest there may be open pit / bulk tonnage potential within the Kittson-Cobalt Project.” Further results from the drill program will be released as they become available.
Planning is currently underway for Power Americas’ summer exploration program, which will include follow-up drilling around the historic workings on the Property, as well as reconnaissance mapping, prospecting, geophysical surveys and soil sampling on the newly-acquired claims extending to the southwest (see PAM news release: 12-18-2017).
Sample Analysis and QA/QC
Get our daily investorintel update
Split core samples were analysed for base metals including Co, Cu, Ni, Pb, and Zn among others, along with Au and Ag at Activation Laboratories in Timmins, Ontario. The analytical codes used include 1A2-Au-50g (fire assay/AAS), 1E-Ag (aqua regia digest/ICP-OES), and 8-peroxide (Na2O2 digest/ICP-OES). Standards and blanks were inserted into the sample stream every 20 samples. The Co-bearing standards used in this program were sourced from CDN Resource Laboratories Ltd. of Langley, British Columbia, and Geostats Pty Ltd., of Western Australia.
About the Kittson-Cobalt Project
The Project is located near the town of Cobalt in northeast Ontario, Canada. The Project hosts the historic 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 Markets 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.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.