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Power Americas Minerals Corp (2)
Symbol PAM
Shares Issued 38,814,000
Close 2018-01-23 C$ 0.285
Market Cap C$ 11,061,990
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Power Americas starts drilling at Kittson-Cobalt

2018-01-23 08:22 ET - News Release

Mr. Jeffrey Cocks reports

POWER AMERICAS BEGINS DRILLING ON THE KITTSON-COBALT PROJECT

Power Americas Minerals Corp. has commenced drilling on its 100-per-cent-owned Kittson-Cobalt project located in the prolific Cobalt silver camp in Northeastern Ontario, Canada. A total of 18 holes for 2,000 metres are planned for following up on the results of the fall 2017 ultralight drill program (see news release dated Jan. 16, 2018).

Key highlights:

  • 2,000 m helicopter-supported diamond drill program now under way;
  • 16 holes planned at the historic Shakt-Davis mine;
  • Two holes planned on the northern extension of the historic Edison mine;
  • Drill holes lengths ranging from 75 to 250 metres to test mineralization both near surface and below historic workings.

Jeffrey Cocks, president and chief executive officer, said: "The Shakt-Davis mine will be the initial focus, this historic mine is hosted by a relatively wide laterally extensive fracture zone hosted in a diabase dike. This program which will test both the consistency and depth extent of cobalt mineralization within this structure."

The fracture zone with hosts the Shakt-Davis mine has returned grab samples up to 3.66 per cent cobalt (see news release Oct. 3, 2017) and 1.62 per cent Co over 0.3 metre in shallow drilling (see news release dated Jan. 16, 2018). The northern extension of the Edison mine hosts numerous historic trenches which have returned up to 0.49 per cent Co in grab samples (see news release dated Oct. 3, 2017).

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 about 15 kilometres east of the property, which produced 420 million ounces of silver with cobalt as a significant byproduct. 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 per cent Co over 1.37 metres and select grab samples returning up to 4 per cent Co and 93.3 grams per tonne 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 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, MSc, PGeo, vice-president of exploration and a director of the company, and a qualified person as defined by National Instrument 43-101.

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