Vancouver, British Columbia--(Newsfile Corp. - October 3, 2017) - Power Americas Minerals Corp. ("Power Americas" or the "Company") (TSXV: PAM) is pleased to announce the results of an initial prospecting program on their Kittson Cobalt Project Located in the prolific Cobalt Silver Camp in Northeast Ontario, Canada.
The Program consisted of reconnaissance prospecting and geological mapping. The primary focus of the program was to outline the historic showings with enough accuracy to develop drill targets for future programs. While it is known that numerous historic trenches, pits, shafts and adits from the early 1900's are located on the property, the historic data does not include detailed descriptions sufficient to develop a detailed geological map or the size and location of many of these pits and trenches. The prospecting program successfully located numerous shafts, pits and trenches and the bulk of the sampling was completed on waste rock piles from these historic workings. A total of 45 samples were collected, of which thirteen samples returned greater than 1% cobalt and six samples returned greater than 3% cobalt. A complete list of all samples collected are listed below in Table 1, and the locations of samples are shown in Figure 1.
Table 1. Reconnaissance Prospecting Highlights
|Number||Co wt. %||Au g/t||Ag g/t||Cu wt.%||Ni wt. %|
|469036||< 0.01||<0.01||< 0.2||<0.01||<0.01|
|469050||< 0.01||<0.01||< 0.2||0.03||<0.01|
|469052||< 0.01||<0.01||< 0.2||0.08||<0.01|
An extensive literature research was also undertaken to gather more information on the historic small-scale mines on the property. The Literature review provided enough information to generate rough underground workings for both the Shakt Davis and Kittson mines. In total the Property hosts four shafts, the deepest extending down to 628 feet, one adit and over 2,500 feet of lateral workings, as shown in (Figure 1).
Figure 1. Inclined 3D view of mine workings
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The Mineralization at Kittson Cobalt occurs in Proterozoic aged quartz-calcite veins hosted in brittle shears in diabase dykes and sills. 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. The mineralization at the Kittson Cobalt project differs from the typical Cobalt Silver Camp veins in that they are lower in silver content but richer in cobalt and are associated with significant gold. Historic reports from the Shakt Davis mine on the Kittson Cobalt project 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. The recent prospecting program supports these historic reports with grab samples from waste rock piles returning up to 1.58 % cobalt with 3.85 g/t gold and 2.9 g/t silver. Locally significant nickel, copper and to a lesser extend lead, zinc and bismuth also occur within the quartz-carbonate veins.
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.
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, 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".
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.
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.
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