Vancouver, British Columbia–(Newsfile Corp. – January 16, 2018) – Power Americas Minerals Corporation (TSXV: PAM) (FSE: VV0) (“Power Americas“ or the “Company“) is pleased to announce the results of their ultralight diamond drilling program on their Kittson-Cobalt Project, located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.
A total of seven shallow drill holes, totaling 161m, of BTW-size core were drilled beneath overburden-filled historic workings in the Shakt-Davis mine area. The program successfully intersected the fracture zone that hosts the Shakt-Davis mineralization over a strike length of 55 metres and to a maximum depth of 30 metres. The fracture zone ranged from 5 to 13 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 and erythrite (“cobalt bloom”) occurred throughout this zone with values as high as 1.62% Co over 0.3 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.”
Table 1. Diamond Drilling Highlights.
|KIT-17-004||Hole abandoned before target depth|
|KIT-17-005||No Significant Results|
*All reported widths are drilled core lengths.
Commenting on the latest results, Jeffrey Cocks, President and CEO said: “We’re highly encouraged by this initial drill program. These results represent the first drilling since the 1940’s at the Shakt-Davis mine and confirms the cobalt-rich nature of this extensive fracture zone. The fracture zone which hosts the Shakt-Davis mine is related to those which also host the Kittson and Edison mines to the north and east, respectively, cumulatively representing over 3km of strike length.“
Mobilization and final planning of a follow up 2000 metre diamond drill program with a larger drill rig is currently underway, with drilling expected to begin by the end of January. The purpose of the winter drill program is to further test this mineralization at greater depths at Shakt-Davis and to test the northern extension of the Edison Mine. Further results will be released as they become available.
Sample Analysis and QA/QC
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 Thunder Bay, Timmins, and Ancaster, depending on the analytical package. 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 standard used in this program was sourced from CDN Resource Laboratories Ltd. of Langley, British Columbia.
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.