ePower Metals Inc. Completes Fall Exploration Program at Panther Creek
December 18, 2017
Vancouver, British Columbia, December 18, 2017 – ePower Metals Inc. (the “Company” or “ePower”) (TSX.V:EPWR) announces that the Company has completed it’s fall exploration program at Panther Creek Project located in the Idaho Cobalt Belt in Lemhi County, Idaho. As part of the Company’s preparations for a 2018 drill program on the Panther Creek Project, 797 soil samples and 14 rock samples have been sent for assay with results anticipated early in the New Year.
The Panther Creek claims are contiguous with eCobalt Solution Inc.’s Ram deposit where a recently completed feasibility study outlined a Measured and Indicated Resource of 3.44 million tonnes grading 0.59% cobalt and 0.73% copper, (http://www.ecobalt.com/project/technical-reports).
Michael Collins, President & CEO stated “ ePower is committed to creating significant shareholder value by putting together a high-quality property portfolio of cobalt projects that the Company believes are undervalued, strategically positioned and have the potential to provide future supply to the growing rechargeable battery sector. I believe the Panther Creek Cobalt Project meets all these criteria and our fall exploration program results will be instrumental in our preparation to drill Panther Creek in 2018”
Fall Exploration Program Highlights:
- 797 soil samples were collected covering an area of approximately 5.1 square kilometres,
- Soil sampling covered two areas that contain known cobalt and copper mineralization and extended along projected mineralized and structural trends,
- Samples were taken on a 50 metre by 100 metre grid in areas of known mineralization and on a 100 metre by 100 metre grid in the projected mineral and structural trends,
- Reconnaissance mapping confirmed the presence of widespread cobalt - copper mineralization including erythrite in stratiform and vein-type occurrences and,
- 14 rock chip-channel samples were collected at mineralized surface outcrops.
- The information from these sample and mapping programs will be used to outline the trend of geologic units that host and control cobalt deposits within the Idaho Cobalt Belt. and provide a focus for exploration in 2018.
The Panther Creek Cobalt Property
ePower has earned a 50% interest in the Panther Creek Cobalt Property and has the right to earn up to a 100% interest. The property comprises 156-lode mining claims totaling 3,060 acres and a 41.297-acre mining lease located in the heart of the Idaho Cobalt Belt. For full details on the property transaction please see the Company’s news release dated October 24, 2017 or ePower’s website at www.epowermetals.com.
The Property is well located and adjoins to the northeast, the Blackbird Copper-Cobalt Mine in the Blackbird District. The Panther Creek claims are contiguous with the claims of eCobalt Solution’s (“eCobalt”) claims and the Ram cobalt-copper-gold Mine. There are several historic mine workings both on the Long Dike patent claims as well as at the Sweet Repose Mine which form a linear trend that ends at the historic Blackbird Mine. A historic mine adit on the property was channel sampled by US Geological Survey and returned 1.04% cobalt and 4.14% copper across 10 feet or 3.04 metres (Re: US Geol. Survey, Open File Report 98-478).
Surface sampling on the property by Utah Mineral resources LLC has returned values from trace to 0.91% cobalt and 3.63% copper (GS-5), and 0.74% cobalt and 0.27% copper. The cobalt-copper mineralization is hosted in the micaceous quartzites of the Apple Creek Formation which is a similar geological setting as the historic Blackbird Mine as well as eCobalt’s Ram Mine.
Idaho Cobalt Belt
The Idaho Cobalt Belt trends northwest-southeast for nearly 37 miles in east-central Idaho. Included within this belt are numerous historic mines and prospects of the centrally located Blackbird district, and deposits of the Iron Creek area at the southeast end (U.S. Geological Survey, 2010). The Idaho Cobalt Belt is important for the United States because it contains the largest known cobalt resources in the United States (Slack et al., 2012). eCobalt is developing the Idaho Cobalt Project, located to the west of the Panther Creek Cobalt Project in the Blackbird district. eCobalt has just completed a Feasibility Study with a Measured and Indicated Resource of 3.44 million tonnes grading 0.59% cobalt and 0.73% copper, (http://www.ecobalt.com/project/technical-reports).
The Company’s fall exploration program was conducted under contract by Brewer Exploration and Geological Services, Inc. of Salmon, Idaho and was conducted by, or under the direct supervision of Brian Brewer, Certified Professional Geologist and a Qualified Person, as defined by NI 43-101. The soil and rock samples have been delivered under chain of custody to the ALS Laboratory in Reno Nevada. Samples will be processed and analyzed for cobalt, copper and 46 other elements using the 4-acid digestion and ICP analytical procedure.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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For further information, please contact:
ePower Metals Inc.
Suite 501 - 525 Seymour Street
Vancouver, BC, Canada V6B 3H7
Telephone: (604) 764-7094