72 72 Page 72 Power Metals Corp sees its futur e serving needs of lithium industry By Gregory Reynolds Power Metals Corp intends to meet the needs of the lithium industry Power which was formerly Aldrin Resource Corp has established a presence in Northeastern Ontario as part of its move into the lithium feld On Sept 22 2016 the company an nounced the signing of an agreement to acquire two prospective lithium projects Case Lake Ontario and Larder River Nova Scotia Case Lake the company can earn a 100 interest in the 2500acre Case Lake project which is located 130km NE of T immin s a major mining city in Northern Ontario as well as 80km east of the T own of Cochrane and adjacent to Batholithic and Subprov ince Boundarie s T o earn 100 inter est the company needed to make cash payments of 325000 and spend 200000 on exploration and devel opment over 36 months and issuing 1 1000000 mil lion shares The prop erty is subject to a 2 NSR Larder River the company can earn a 100 interest in the 3200acre Lar der River project which is located three kilometers west of the village of New Ross NS in the central por tion of the South Mountain Batholith 100km from Halifax right of of the highway and proximal to port T o earn 100 interest the company needed to make cash payments of 1335000 and spend 2425000 on develop ment of the project over 36 months and issuing 4000000 million shares The property is subject to a 2 NSR 1 of which can be purchased for 750000 and 1 for 1250000 President and CEO Johnathan More noted The forecasted demand for lithium is set to continue to expand as batte ries electric vehicles and en er gy storage play a greater and greater role globally The company intends to play a meaning ful role in mee ting the needs of the lithium market W e are extremely pleased to have been able to bring onboard assets that already have demonstrated lithium values of up to 2 Li2O through drilling over true widths similar to those seen at projects such as Ne maska s 273 million tonne W abuchi deposit in Quebec Both properties allow year round ac cess and are close to major infrastruc ture As well pegmatites outcrop at surface and appear to be formed in a stacked sequence which should allow the company to undertake an aggres sive drilling campaign with the goal of confrming an NI 43101 compliant resource in a rapid and cost efcient manner Case pegmatite swarm consists of fve dykes exposed on surface North Dyke 12 m thick and 100 m strike length Main Dyke also known as Central Dyke 35 m thick and 350 m strike length South Dyke 10 m thick and 250 m strike length East Dyke 19 m wide and 1200 m strike length Northeast Dyke 10 m wide and 75 m length All of the known Case pegmatite dykes are open along strike as the current strike length only represents surface exposure and doesn t repre sent the total length of the pegmatite dykes Thus there is potential to increase the strike length of each mineralized dyke In January the company raised in a private placement an aggregate 1000000 via two tranche closings through issuance of 7103334 units at a price of 0075 per unit in the frst tranche closing and issuance of Page 73 6229999 units in the second tranche closing The net proceeds of the fnancing will be used to undertake work on its vari ous mineral property interests and for general working capital Power Metals is one of Canada s new est premier mining companies with a mandate to explore develop and ac quire high quality mining projects for minerals contributing to power It is committed to building an arsenal of projects in both lithium and clean power fuels like uranium It sees an unprecedented opportunity to supply the staggering growth of the lithium battery industry The company is active in Alberta with an oilfeld lithium brine extrac tion project and has entered an option agreement to acquire an undivided 70 interest in the T riple M Uranium Property locat ed 12 km south and west of Patterson Lake in northwest Saskatchewan The property comprises 6 mineral exploration licenses in two separate contiguous blocks that cover an ag gregate total of 12001 hectares The property is located just outside the southwestern mar gin of the Athabas ca Basin which currently accounts for 20 of the world s total uranium production Power can imm ediately scaleup to a 505000 Acre Oilfeld Lithium Brine Project Base In Alberta extractive rights to lithium and other minerals accrue to the holder of a Metallic and Industrial Minerals Permit covering the location in question and not to the holder of any rights under oil or gas lic enses of the same location As such petroleum companies oper ating oil and gas activity in areas of lithiumrich formation water have no legal ownership of prospective lithium brines absent concurrently holding the Metallic and Industrial Minerals Permit Therein monopoly holders of lithi um right permi ts have a unique part nership opportunity within Alberta which does not always correspond to other lithium oilfeld brine prospects elsewhere P artnering with Gowest to build the next new gold mine in Timmins cementationcom 2016 Mine Development Construction Shaft Sinking R aise Boring Contract Mining P rocess Facilities Construction Material Handling Feasibility Design Engineering P roject Construction Management M inin g L if e E xp lo ra t io n N e ws C a n adi a n T radeE x M a r c h 2017 12 P a g e V er t ic a l 45 x 75 Power Metals active in clean fuel sector