Canada Silver Cobalt Works Inc. has announced it has signed a non-binding LOI (Letter Of Intent) to purchase a 24-unit multicell greenfield lithium property in Case Township, in the Cochrane District, Ontario.
The Property is contiguous to Power Metal’s Case Lake Lithium Property. It is located approximately 5 kilometers north-west of their West Joe Dyke and Main Dyke areas. Some of the recent highlights from the West Joe Dyke and Main Dyke pegmatites are:
- 1.11 % Li2O (Lithium) over 6.84m in PWM-22-128 (See Power Metals Corp News Release August 19, 2022)
- 1.58 % Li2O (Lithium) over 15.00m in PWM-22-134 (See Power Metals Corp News Release September 8, 2022)
- 1.86 % Li2O (Lithium) over 19.00m in PWM-22-135 (See Power Metals Corp News Release September 8, 2022)
The Property is comprised of a single 24-unit multicell mining claim totalling 4.5 square kilometers or 450 hectares. The Property is sandwiched between several ‘domes’ identified and owned by Power Metals. These ‘domes’ are dome-shaped laccolith igneous intrusions that typically host the pegmatitic dykes that contain spodumene which is a lithium aluminium inosilicate, otherwise known as a lithium ore mineral. A collection of these domes appears to trend through the Property outlined in this LOI, and the Property has outcropping pegmatites on surface.
The non-binding letter of intent sets forth the terms and conditions which shall form the basis of the option agreement whereby Canada Silver Cobalt Works Inc. (the “Company”) may acquire up to a 100% interest in certain mining claims located in Case Township, The Cochrane District, Ontario (the “Property”).