ePower Metals Completes Sampling Program for Sweet Repose Adit on Panther Creek Cobalt Project
March 29, 2018
Vancouver, British Columbia, March 29, 2018 – ePower Metals Inc. (the "Company" or "ePower") (TSX.V: EPWR) announces that the Company has completed a sampling and structural mapping program for the Sweet Repose Adit. Thirty-six samples have been submitted from the Sweet Repose Adit sampling program for assay. In addition, the Company has resubmitted 788 soil samples from the Panther Creek 2017 sampling program for gold assays in light of the high gold values found in outcrop in the same program; 19 g/t Au over 0.3 metres ("m") and 6 g/t Au over 1m announced January 22, 2018.
President Michael Collins comments, "We are pleased with the progress of the Panther Creek project since signing the option agreement in fall of 2017 and impressed with the high-grade gold we have identified in secondary vein/breccia outcrops. With only light snow on the ground right now we look forward to restarting the soils sampling program in a few weeks leading into structural surveys and geophysical studies with the aim of drilling for cobalt in the summer of 2018. It will be a busy year at Panther Creek."
ePower is currently working to see if it is viable to re-enter the Little Deer Creek Adit where historic sampling has returned values of 1% Co over 3m* as well as adits on the Long Dyke Patent claims. Additionally, permitting of road reactivation and several proposed drill sites is underway. Work planned for the spring and summer of 2018 will include expanded soil and outcrop sampling, geophysical work and drilling.
Further to the Company's press release of February 15, 2018, ePower has also retained the services of Nancy Curry, to provide Investor Relations services to the Company including communicating with investment dealers, advisers and shareholders - both current and prospective - to increase awareness of and interest in the Company. ePower has entered into a six month term contract with Nancy Curry as of February 15, 2018, which may be extended by mutual agreement or terminated by either party on 30 days notice. Ms Curry will be paid $5,000 per month and has been awarded 275,000 options with an exercise price of $0.68, which will vest over 12 months in four equal instalments.
Panther Creek Project
The Panther Creek Cobalt Property comprises 153 unpatented lode-mining claims (~3,060 acres, ~1,238 hectares) and two patented mining claims (41.3 acres, 16.7 hectares) located in the heart of the Idaho Cobalt Belt. ePower has earned a 50% interest in the property and has the right to earn up to a 100% interest. The Panther Creek Cobalt Project adjoins eCobalt Solutions Inc's Idaho Cobalt Project, an advanced stage, feasibility level, environmentally permitted, primary cobalt deposit. The property is road accessible and located 42 kilometres west of the Salmon, Idaho.
There are several historic mine workings on the property. Channel sampling by US Geological Survey at the Little Deer Creek Prospect returned 1.04% cobalt and 4.14% copper across 10 feet or 3.04 metres, and a dump grab sample from the historic workings at the Sweet Repose Adit assayed 0.46% cobalt and 0.27% copper (US Geol. Survey, Open File Report 98-478). The Long Dike Prospect, which is on the patented claims, has not been sampled but reportedly has several adits and at least 500 feet (152 metres) of underground workings. The cobalt-copper mineralization is hosted in the micaceous quartzites of the Apple Creek Formation, which is a similar geological setting as eCobalt's Ram deposit as well as the historic Blackbird Cobalt Copper Mine.
Aside from some limited surface rock and soil sampling on the property by Utah Mineral Resources LLC and most recently by ePower in late 2017, no reported exploration work has been done on the property since the 1950's. Utah Mineral Resources LLC sampled surface rocks with up to 0.91% cobalt and 3.63% copper in grab samples*. *The grades stated in the USGS reports and by Utah Mineral Resources LLC have not been verified by the Company, and readers are cautioned not to place undue weight on such results. The historical grades are considered relevant; however the reliability, assumptions, parameters and methods used in preparing the reports are unknown.
Brian Brewer, Certified Professional Geologist, is a consultant to the Company and is the Qualified Person for the Panther Creek Project.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
For further information, please contact:
VP Corporate Development
ePower Metals Inc.
1507 – 1030 West Georgia Street,
Vancouver BC, V6E 2Y3
Telephone: (604) 428-6128
Facsimile: (604) 428-6430
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