Power Americas Acquires Additional Exploration Permits on the Spirit River Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2017) - Power Americas Minerals Corp. (TSXV: PAM) ("Power Americas" or the "Company") is pleased to announce that the Province of Alberta has approved Power America's application for 100% undivided interest in a further six metallic and industrial minerals exploration permits covering six townships northwest of the Fox Creek-Swan Hills district in the Peace River Arch-Spirit River area of northwestern Alberta.
These additional six exploration permits are contiguous to the previous four townships that were acquired by Power Americas in August 2016. Power America's collective northwestern Alberta land package now has a total of 10 adjoining exploration permits covering more than 90,000 hectares (222,395 acres) or 900 square kilometres. The newly acquired permits contain more than 1000 well sites including more than 200 new and deep-basin wells that were drilled since 2010. The Spirt River project now contains potential access to more than 1900 wells, some of which contain elevated lithium-brine values as documented historically in publicly available Government of Alberta reports. Power America's exploration focus will include test assaying brine samples from the new, deep-basin wells representing virgin ground that has never been tested for the lithium-in-brine content, signifying a new target of exploration for the Company and its shareholders.
Note: To date, the company and its Qualified Professionals have been unable to verify the historical lithium-brine results and whether the lithium-enriched brine occurs, or extends, into aquifers underlying the Spirit River property.
Power America's initial Exploration Program (see news release 01-11-17) is underway on the Spirit River Lithium Project. Local area petro-operators have granted access and brine sampling will be collected from approximately 20-30 separate producing wells. The brine samples will be tested for potentially elevated concentrations of lithium and other important elements in brine reservoirs/aquifers underlying Spirit River landholdings. Further results will be released as they become available.
The Company's consultant, APEX Geoscience Ltd. of Edmonton AB, is supervising and conducting the brine sampling program in conjunction with several oil and gas producers in the region. The brine samples collected will undergo geochemical analysis by Maxxam Analytics Inc. 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 Roy Eccles MSc, P Geol, of APEX Geoscience Ltd., an independent qualified person as defined by National Instrument 43-101.
On behalf of the Board of Directors:
"Jeffrey Cocks"
Jeffrey Cocks
President
For more information please contact:
Howard Milne V.P. Business Development
Tel: (604) 377-8994 Email: hdmcap@shaw.ca
Website: www.poweramericascorp.com
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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