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Powr Lithium Corp
Symbol POWR
Shares Issued 48,706,719
Close 2024-01-26 C$ 0.22
Market Cap C$ 10,715,478
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Powr Lithium notes Halo sits between two Li resources

2024-01-26 18:45 ET - News Release

Mr. Matt Chatterton reports

SPECIAL ANNOUNCEMENT: POWR LITHIUM IS BORDERED ON TWO SIDES BY DOCUMENTED LITHIUM RESOURCES

Powr Lithium Corp. has provided the following summary of its recently held special investor call.

Highlights:

  • Powr Lithium's Halo property sits between two documented lithium resources held by American Battery Technology and American Lithium.
  • Results of Powr Lithium's phase 1 drilling show a likely continuation of similar geology across all three properties.
  • Powr Lithium targets demonstrating an inaugural resource with a coming phase 2 drill program, hopeful the results will make Halo an attractive acquisition target.

"Powr Lithium is centred between two well-established companies, American Battery Technology and American Lithium, both of which have documented resources that extend up to our property line. Our previously announced discovery shows a likely continuation of similar geology across all three properties," noted Powr Lithium chief executive officer Matt Chatterton.

Powr Lithium's Halo project, consisting of 98 mineral claims located in Nevada's Esmeralda and Nye counties, is considered prospective for claystone-hosted lithium mineralization. Optimistic announcements regarding exploration and development on adjacent properties to the north (American Lithium) and west (American Battery Technology) of the Halo project have fuelled enthusiasm for regional lithium exploration activities in the area, and may encourage further opportunities for consolidation and further development in the region.

As previously reported in a Dec. 22, 2023, news release, specifically regarding results from the company's inaugural drill campaign, the preliminary basis for a regional mineralization trend was noted as "these greater sediment thicknesses are consistent with results reported by both American Lithium and American Battery Technology located to the north and west, respectively."

"We view the neighbours' resource announcements for the Tonopah Flats projects with interest and enthusiasm for the entire region. It underscores the strategic significance for all the key players actively working to strengthen their position in the area. Powr is in an appealing position, with our recent discovery extending the lithium trend," advised Mr. Chatterton.

Powr Lithium looks forward to continuing to advance the Halo project with a further phase of exploratory drilling, with a view to establishing an inaugural resource on the project. Once a resource is established on the property, the company is hopeful that it will contribute to additional value for shareholders and ultimately encourage long-term development or make us an attractive acquisition target.

Management cautions that while discoveries and observations on properties adjacent to the Halo project are encouraging, there can be no certainty that similar mineralization or geology will be encountered on the Halo project.

Qualified person

The technical data in this news release have been reviewed by Robert Johansing, MSc, PGeol (MMSA No. 01520QP), a qualified person for the purposes of National Instrument 43-101.

About Powr Lithium Corp.

Powr Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The company holds interests on the Halo and Eli properties in Nevada. The company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner.

We seek Safe Harbor.

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