VANCOUVER, British Columbia, Jan. 26, 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 following summary of their recently held special investor call.
Highlights:
- POWR's Halo property sits between two documented lithium resources held by American Battery Technology and American Lithium.
- Results of POWR's Phase 1 drilling show a likely continuation of similar geology across all three properties.
- POWR targets demonstrating an inaugural resource with upcoming Phase 2 drill program, hopeful the results will make Halo an attractive acquisition target.
"POWR Lithium is centered 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." notes POWR CEO Matt Chatterton.
POWR's Halo Project, consisting of ninety-eight 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 fueled 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 December 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 neighbor's 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," advises POWR Lithium CEO Matt Chatterton.
POWR 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.
On Behalf of The Board of Directors,
Sincerely,
~Matt Chatterton~
Matt Chatterton
Chief Executive Officer & Director
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.sedarplus.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 developing the Halo property and contributing to the growth of the lithium supply chain.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company's ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's annual Management Discussion and Analysis dated December 18, 2023, under the heading "Risks Factors." Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
CONTACT INFORMATION
POWR Lithium Corp.
Investor Relations
Email: info@powrlithium.com
Phone: +1 (778) 383-7240
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb928dac-f3ad-4a1f-81d3-b8e1f3b6674e
