ePower Metals Purchases Connel Creek Cobalt Project, Lillooet Mining District BC
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2018) - ePower Metals Inc. (TSXV: EPWR) (the "Company" or "ePower Metals") has purchased the 1,500 ha Connel Creek Cobalt Project in the Lillooet Mining District British Columbia from Paul D. Gray for a cash payment of $5,000 and 25,000 common shares.
The Connell Creek Cobalt Property
The Connel Creek property covers a historic 400m x 200m Co-Ni-As in soil anomaly detected in the late 1990s during regional gold exploration. The property lies near the headwaters of Connel Creek and the soil anomaly is supported by regional geochemical samples from the BC Geological Survey (GeoFile 2017-11). The property is underlain by rocks of the Cayoosh assemblage, which also hosts the Bralorne Au deposit. The property lies proximal to the Cadwallader Fault and serpentinized ultramafic rocks of the Bridge River Complex. The property is considered prospective for high grade Co-Au mineralization similar to the historic Little Gem deposit.
The Connel Creek project is bordered to the west and south by the Cobalt One Claim package which is now owned by Blackstone Minerals Limited, (Blackstone). Blackstone owns claims over distance 40km in close relation to the Caderwaller Fault including both the Little Gem and Jewel cobalt claims to the north west of the Bralorne Mine.
The property is located in the Lillooet Mining Division, 41 km west of the town of Lillooet, BC, and 47 km Northeast of Pemberton, BC. The property has no road access, but dry weather roads are as close as 8km east within Cadwallader Creek and the Bridge River Road along the north shore of Anderson Lake, 9 km to the south.
Michael Collins, President and CEO of ePower Metals comments, "ePower is pleased to have identified this excellent cobalt target in British Columbia and we look forward to releasing initial results this fall. Connel Creek is an inexpensive acquisition with the potential for high grade mineralization. The Company will continue to expand and develop its cobalt portfolio in this long term cobalt market."
Recent results from Blackstone Minerals Limited Little Gem project include assays from drilling including:
1.1 m @ 3.0% Co and 44 g/t Au;
within 4.3 m @ 1.0% Co and 15 g/t Au,
Historic Underground channel samples:
1.8 m @ 4.4% Co & 73 g/t Au;
and 2.0 m @ 3.1% Co & 76 g/t Au.
Historic Surface channel sampling:
0.4 m @ 5.7% Co & 1,574 g/t Au;
*The results obtained by Blackstone at the Little Gem project have not been verified by the Company and may not be reproducible by the Company on the Connel Creek project.
Connel Creek Claims
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ePower 2018 Work Program
The Company has contracted a team to immediately conduct a soil grid and grab sampling program. It is hoped that the results will be received in time to allow for a follow up program in October.
Bruce Kienlen, P.Geo., is Vice President of Exploration for the Company and is the Qualified Person for the Connel Creek Project.
The Company has granted incentive stock options under the Company's stock option plan to an officer of the Company to purchase up to an aggregate of 40,000 treasury shares. The options are exercisable at a price of $0.21 per share for a period of two years and are subject to the policies of the TSX Venture Exchange and the Company's stock option plan.
About ePower Metals
ePower Metals Inc. is committed to creating significant shareholder value by advancing a high-quality portfolio of metals for the future - cobalt, copper and manganese - that the company believes are undervalued, strategically positioned and have significant potential to provide future supply to the growing rechargeable battery industry. With core projects in British Columbia, Idaho and Suriname, ePower is well placed to develop significant cobalt resources in in the face of tightly constrained cobalt market supply.
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
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of ePower Metals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. ePower Metal's actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.