Plateau Energy Metals – Mapping expands Falchani footprint an additional 1 km west of current resource drilling. Thick high-grade lithium intersections in latest holes, including 127 m of 0.75% Li2O

TORONTO, June 11, 2018 (GLOBE NEWSWIRE) — Plateau Energy Metals Inc. (“Plateau” “PLU” or the “Company“) (TSX VENTURE:PLU) (FRANKFURT:QG1) (OTCQB:PLUUF), a lithium and uranium exploration and development company, is pleased to announce recent mapping/sampling efforts have expanded the Falchani lithium-rich mineralization an additional 1 km west of previously announced sampling, and continued strong results from three recently completed inclined diamond drill holes from Platform 3 and Platform 9 at the Falchani project, located in the Chaccaconiza area of the Company’s Macusani Plateau Project in southeastern Peru.


Platform 9 NW Inclined Hole drilled to 325° Azimuth @ -55° inclination – 309 m total length

  • 127 m of Lithium-rich tuff unit intersected at 3,500 ppm Li (0.75% Li2O) from 129-256 m (104 m true thickness estimate)
  • 190 m of 2,751 ppm Li (0.59% Li2O) in broader interval that includes 8 m of Li-rich breccias located above the tuff unit and 53 m of Li-rich breccias below the tuff unit from 119-309 m (End of Hole) (155.6 m true thickness estimate)
  • Weak surface uranium mineralization intersected 1 m of 331 ppm U3O8 from 0-1.0 m

Platform 3 E Inclined Hole drilled to 090° Azimuth @ -60° inclination – 148.5 m total length

  • High-grade lithium-rich tuff unit intersected 50 m of 3,727 ppm Li (0.80% Li2O) from 81-131 m (43.3 m true thickness estimate)
  • 66 m of 3,213 ppm Li (0.69% Li2O) in broader interval that includes Li-rich breccias located above and below the tuff unit from 77-143 m (57.2 m true thickness estimate)

Platform 3 SW Inclined Hole drilled to 230° Azimuth @ -55° inclination – 157.5 m total length

  • High-grade lithium-rich tuff unit with minor breccias above and below intersected 75 m of 3,503 ppm Li (0.75% Li2O) from 68-143 m (61.4 m true thickness estimate)
  • Weak surface uranium mineralization intersected 4.5 m of 218 ppm U3O8 from 0-4.5 m (3.7 m true thickness estimate)

Ted O’Connor, CEO of Plateau Energy Metals, commented: “These delineation drill hole results from Platforms 3 and 9 are confirming and growing our understanding of the geometry and geology of the unique Falchani lithium deposit.

The massive mapped and sampled footprint and thick intersections of lithium-rich tuff at Falchani all have remarkably consistent grades, most in excess of 0.7% Li2O and continue to build our confidence that Falchani will eventually grow into one of the largest near surface lithium deposits known. These, along with the Peruvian government and local community support we are receiving and the simple processing option routes we are working on with ANSTO are helping our efforts to make future Peruvian lithium production a reality.

Drilling continues with three Company-owned rigs at Falchani, and we believe we remain on track to complete a maiden NI 43-101 lithium resource estimate around the end of the month.”

Falchani Platform 9 and 3 Details
Analytical results from three drill holes collared from Platform 9 and 3 testing the Falchani discovery are presented below. These inclined holes were drilled using large diameter HQ core, reducing to NQ when drill advance is compromised.

Table 1 – Latest Falchani Drill Hole Results – Uranium and Lithium Intersections

PCHAC-09-TNW 309.0 m depth

-55° inclination @ 325° Azimuth

From To Thickness (m) Grade

U3O8 (ppm)

Grade U3O8 (lbs/ton) From To Thickness (m) Grade Li (ppm) Grade Li2O (ppm)
  0.0 1.0 1.0 331 0.662
            119.0 309.0


190.0 2,751 5,923


including           129.0 256.0 127.0 3,500 7,536


PCHAC-03-TE 148.5 m depth

-60° inclination @ 090° Azimuth

From To Thickness (m) Grade

U3O8 (ppm)

Grade U3O8 (lbs/ton) From To Thickness (m) Grade Li (ppm) Grade Li2O (ppm)
            77.0 143.0 66.0 3,213 6,918


including 81.0 131.0 50.0 3,727 8,024


PCHAC-03-TSW 157.5 m depth

-55° inclination @ 230° Azimuth

From To Thickness (m) Grade

U3O8 (ppm)

Grade U3O8 (lbs/ton) From To Thickness (m) Grade Li (ppm) Grade Li2O (ppm)
  0.0 4.5 4.5 218 0.436
  68.0 143.0 75.0 3,503 7,542


* The widths above are drill intercepts and not true widths. True widths have been estimated, but have not been determined.

Falchani Lithium Deposit Highlights

  • Delineation drilling confirms 50-140 m thick Lithium-rich tuff unit = Large Scale
  • Mapping and sampling expands surface footprint of Li-rich tuff unit beyond the original radiometric anomaly. Current footprint now 2.2 km wide (East-West) and 1.7 km long (North-South).
  • Continued consistent high average Li grades >3,250 ppm Li (0.70% Li2O) over the entire unit
  • Unique and straightforward geology, geometry, grade consistency and overall thickness leads to simple interpretation, mineral deposit modeling and resource estimation
  • Shallow, open pit mining potential from surface to ~250 m depth points to <1:1 strip ratio
  • Consistent 80-90% Li leaching with simple warm acid leaching from this uncomplicated deposit should result in a cost-effective future operation

The Company is currently continuing to drill the Falchani discovery with additional diamond drill holes planned to expand the mineralized footprint and establish an initial mineral resource estimate by June 30, 2018.

Quality Assurance, Quality Control and Data Verification
Drill core samples are cut longitudinally with a diamond saw with one-half of the core placed in sealed bags and shipped to Certimin’s sample analytical laboratory in Lima for sample preparation, processing and ICP-MS/OES multi-element analysis. Certimin is an ISO 9000 certified assay laboratory. The Company’s Qualified Person for the drill programme, Mr. Ted O’Connor, has verified the data disclosed, including drill core, sampling and analytical data in the field and lab. The program is designed to include a comprehensive analytical quality assurance and control routine comprising the systematic use of Company inserted standards, blanks and field duplicate samples, internal laboratory standards and has also included check analyses at other accredited laboratories.

Qualified Persons
Mr. Ted O’Connor, P.Geo., CEO and a Director of Plateau Energy Metals, and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

For further information, please contact:
Plateau Energy Metals Inc.
Ted O’Connor, CEO

About Plateau Energy Metals
Plateau Energy Metals Inc. is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km2) situated near significant infrastructure. Plateau Energy Metals is listed on the TSX Venture Exchange under the symbol ‘PLU’, quoted on the OTCQB under the symbol “PLUUF” and the Frankfurt Exchange under the symbol ‘QG1′. The Company has 69,796,004 shares issued and outstanding.