Vancouver, British Columbia–(Newsfile Corp. – January 23, 2018) – Power Americas Minerals Corporation (TSXV: PAM) (“Power Americas“ or the “Company“) is pleased to announce it has commenced drilling on their 100% owned Kittson-Cobalt Project located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada. A total of 18 holes for 2,000 metres are planned for following up on the results of the fall 2017 ultralight drill program (see news release January 16, 2018).
- 2,000 m helicopter supported diamond drill program now underway
- 16 holes planned at the historic Shakt-Davis mine
- 2 holes planned on the northern extension of the historic Edison mine
- Drill holes lengths ranging from 75 to 250 metres will test mineralization both near surface and below historic workings
Jeffrey Cocks, President and CEO said: “The Shakt-Davis mine will be the initial focus, this historic mine is hosted by a relatively wide laterally extensive fracture zone hosted in a diabase dyke. This program which will test both the consistency and depth extent of cobalt mineralization within this structure.“
The fracture zone with hosts the Shakt-Davis mine has returned grab samples up to 3.66% cobalt (see news release October 3, 2017) and 1.62% Co over 0.3 meters in shallow drilling (See news release January 16, 2018). The northern extension of the Edison mine hosts numerous historic trenches which have returned up to 0.49% Co in grab samples (see new release October 3, 2017).
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 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:
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.