Hole No. Halo-003-23 intersects broad Li-bearing claystone interval with 204 feet (62.2 m) of 994.4 ppm Li
Figure 1
Map of the POWR Lithium land package showing drill holes and neighboring land positions
Figure 2.
Photo of Box #78 of Hole No. Halo-004-23 showing finely laminated claystone which contains in excess of 1,600 ppm lithium
VANCOUVER, British Columbia, Jan. 12, 2024 (GLOBE NEWSWIRE) -- POWR Lithium Corp. (CSE: POWR) (FRA: 6JX / WKN: A3D6BS) (OTCQB: PWRLF) (“POWR” or the “Company”), a mineral exploration and development company focused on American lithium deposits to support domestic demand, is pleased to provide the complete results from the four-hole, 2,899 feet (883.9-metre) maiden drilling program. The Halo project is located less than 3 kilometres northwest of Tonopah, NV and surrounded by several lithium-exploration companies with published resources or, at least, discoveries (see Figure 1).
Highlights:
Four HQ core holes have been completed and show comparable results to neighboring properties in what is likely the same geologic unit.
Hole No. Halo-003-23 intersected a true thickness of 62.2 meters (204 feet) at 994 ppm lithium.
Hole No. Halo-004-23 intersected 19.8 meters (65 feet) of 1,368 ppm lithium where the hole was lost due to bad drilling conditions. The bottom 7 meters of the holes contained 1,698 ppm Li.
CEO Matt Chatterton states, “With these very positive results, we are well positioned to prepare for a Phase 2 drilling program in 2024 once the conditions permit. With the drill permit in hand and logging facilities established in Tonopah, the task at hand is to strategically locate the next holes to initiate resource modeling.”
Hole No.
From (m)
To (m)
Width (m)
Width (feet)
Li (ppm)
Notes
Halo-001-23
57.05
95.25
38.23
125.4
938
Reported on Dec. 22, 2023*
Halo-002-23
212.09
232.34
20.25
66.44
1,026
Halo-003-23
179.81
242.01
62.2
204.1
994
Halo-004-23
224.33
244.14
19.81
65.0
1,368
Last sample = 1.67m @ 1,610 ppm Li
Table 1. Summary of POWR Lithium’s Phase 1 Drilling Campaign.
The inaugural work program on the Halo property consisted of four drill holes, ranging from 503.8 to 804.9 feet (153.6 - 245.4m) in depth. The results for Phase 1 are shown above in Table 1 and the hole locations are given Figure 1. The Siebert Formation, which hosts the claystone sequence, thickens to the west toward the center of the Montezuma valley. Drill Hole No. Halo-001-23, shown in Figure 1, was positioned closest to the basin’s current margin and bottomed in lithic tuff with Li values <100ppm Li. Hole Nos. Halo-002 thru -004 are located further west revealing greater sediment thickness and, hence, hole depths, i.e. to 770.8 feet (235m).
Hole No. Halo-004-23, the furthest west hole, was lost in broken ground with the bottom 7 meters containing nearly 1,700 ppm Li. This hole is located about 1.8 km east of the American Battery Technology claim block and 0.9 km south of the American Lithium claim block. Since the hole was unable to enter the lower tuff unit and exit the lithium-bearing claystone, it will need to be re-drilled in 2024.
Map of the POWR Lithium land package showing drill holes and neighboring land positions
Figure 1. Map of the POWR Lithium land package showing drill holes and neighboring land positions
Photo of Box #78 of Hole No. Halo-004-23 showing finely laminated claystone which contains in excess of 1,600 ppm lithium
Figure 2. Photo of Box #78 of Hole No. Halo-004-23 showing finely laminated claystone which contains in excess of 1,600 ppm lithium
Reclamation was completed on the four drill sites prior to the arrival of winter conditions.
The technical data in this news release have been reviewed by Robert Johansing, M.Sc., P. Geol. (MMSA #01520QP), a qualified person under the terms of NI 43-101.
In November, the QP was on-site and became familiar with the drill sites and drilling procedures for the Halo Project and witnessed all components of the core logging and sampling procedures conducted at their core storage facility in Tonopah, NV.
All samples were retrieved by representatives of American Assay Labs (AAL) and transported to their facility in Sparks, Nev., for the 28 element, 4 acid ICP-OES (inductively coupled plasma optical emission spectroscopy) analytical package. Both the Company and AAL have inserted standards, blanks and duplicates into the sample sequence for the reported results.
Review of the logging, sampling and security procedures, along with the QA/QC data for sample preparation and chemical analyses has not identified any issues that would impact these results.
On Behalf of The Board of Directors,
Sincerely,
~Matt Chatterton~
Matt Chatterton Chief Executive Officer POWR Lithium Corp. www.powrlithium.com
About POWR Lithium Corp. (CSE: POWR) (FRA: 6JX / WKN: A3D6BS) (OTCQB: PWRLF) 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. To find out more visit www.powrlithium.com and watch our video.
POWR Lithium advises the public that as part of its disclosure obligations as a public issuer, all material and regulatory filings can be found on www.sedar.com. We also invite the public to visit our website at www.powrlithium.com and to sign up to our “news alerts” to be advised of future news releases and related company information. Please also ensure you watch our video which is now available on the website.
Forward Looking Information Disclaimer This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s plans for a Phase 2 drilling program at the Halo property.
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