Vancouver, British Columbia–(Newsfile Corp. – December 19, 2017) – Power Americas Minerals Corp. (TSXV: “PAM“) (“Power Americas“ or the “Company“) is pleased to announce the results of sampling and mapping which formed part of the Company’s due diligence on newly acquired claims to the southwest of the core Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.
The due diligence work consisted of reconnaissance geological mapping and prospecting with a total of 106 samples collected from historic workings, waste rock piles and bedrock. This work encountered anomalous cobalt mineralization in numerous undocumented workings (pits, shafts and trenches) over approximately three-kilometer strike length located in Nipissing diabase, similar to the mineralization at the Shakt-Davis mine. Significant samples collected are listed below in Table 1. and the locations of all samples are shown in Figure 1.
Table 1. Due Diligence Sampling Highlights.
|Sample Number||Co wt. %||Au g/t||Ag g/t||Cu wt.%||Ni wt. %||Pb wt. %|
Figure 1. Sample locations.
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The Company recently announced (see PAM news release 11-22-17) the acquisition of an additional 100% interest in 10 unpatented mining claims totaling 140 units having a combined area of approximately 2,240 hectares. Eight of the new claims are contiguous to Power America’s Kittson property located in the Coleman, Kittson and Brigstocke Townships of the Larder Lake Mining Division, in Northeastern Ontario. Two of the new claims are approximately 5 km south of the Kittson properties southern boundary. Closing of the above transaction is subject to receipt of all required documentation and final approval of the TSX Venture Exchange.
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, 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% cobalt over 1.37 meters and select grab samples returning up to 4% cobalt and 93.3 g/t gold. 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 Corp. 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 America’s 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., 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.