Vancouver, British Columbia–(Newsfile Corp. – May 31, 2017) – Power Americas Minerals Corp. (TSXV: PAM) (“Power Americas“ or the “Company“) is pleased to announce the exploration program has begun on its 100% owned Kittson Cobalt property, located approximately 8 km northwest of the town of Latchford, ON and 120 km by road north of North Bay, ON.
Phase I of the Kittson exploration program will consist of reconnaissance prospecting, geological mapping, and relocating historic workings. This reconnaissance program will provide accurate modern data to assist in the planning of the phase II drill program. The phase I program is set to begin next month and last for 3-4 weeks with phase II expected to begin later this summer.
The Kittson Cobalt Property is located within the prolific Cobalt mining camp, which has produced over 420 million ounces of silver. The Property includes two former mines, the Shakt Davies and Cobalt Kittson. These two mines saw limited production and differed from the typical Cobalt camp in that they possessed lower silver grades, but were enriched in cobalt and gold.
The Shakt Davies mine saw intermittent development from 1906 – 1964, with the bulk of the underground working completed between 1924 – 1926. No production records remain, however historic reports 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. More recent sampling (1987) of the mine waste pile by the Ontario Geological Survey personnel returned 0.25% cobalt, 0.75 % nickel, 0.05% copper and 3.4 g/t gold.
The Company would also like to provide an update on the Spirit River Lithium Project, located in the Peace River District of Alberta Canada (see news release 02-17-17). Brine samples were tested for potentially elevated concentrations of lithium and other important elements in reservoirs/aquifers underlying Spirit River landholdings. However, no significant results were returned. The Company and its consultants are reviewing the results to determine the next phase of exploration. The Company’s consultant, APEX Geoscience Ltd. of Edmonton AB, conducted the brine sampling program and the brine samples were sent to Maxxam Analytics Inc. for geochemical analysis at its Petroleum Technology Centre located in Edmonton, AB.
About Power Americas Mineral Corp
Power America’s acquisition strategy focuses on acquiring affordable, cost effective and highly regarded mineral properties in areas with proven geological potential. These areas include historical and currently producing mines with existing infrastructure. This strategy includes acquiring 100% interests in mineral properties, with no payment terms or work program commitments that would threaten a junior mining company’s financial stability. The Company believes it can create maximum shareholder value efficiently and cost effectively implementing this acquisition strategy.
Power Americas believes that the demand profile for Lithium, Cobalt and other essential power related materials will be fundamentally led by the growing adaptation of electric vehicles, renewable energy and increased production of super alloys. With a focus on identifying and developing ethically sourced materials within the Americas, the Company intends to address the growing demand for energy metals that are being driven by innovation and the introduction of new technologies.
Power Americas Minerals Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, copper and other energy metals in North and South America. The Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol “PAM” 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.
NOT FOR DISSEMINATION IN THE UNITED STATES
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