Exploration & Mining News

Power Metal applies for 1,994km2 licences in Australia

Posted on Author editorial Comments Off on Power Metal applies for 1,994km2 licences in Australia

Power Metal Resources plc has applied for two licences covering 1,994km2 and targeting Olympic Dam-style copper-gold mineralisation in the Gawler Craton, South Australia.

Exploration: Power Metal said it was looking to rebuild its Australia portfolio with licences in South Australia (Pixabay)

SUBSIDIARY

The company’s new wholly owned Australian subsidiary, Power Metal Resources Australia Pty Ltd (Power Australia) will be the host vehicle for new Australian exploration interests of Power Metal.

These are being acquired to replace current interests in Australia planned as spin-out / disposals including First Development Resources (Paterson Region) and New Ballarat Gold Corporation (Victoria gold fields).

LICENCES

The two licence applications (ELA 2021-00162 and EL 2021-00163) in the Gawler Craton lie due south and west of Copper Search Ltd’s Ruby Hill project.

Power Australia is reviewing the site to refine geological understanding and prepare detailed exploration plans for ground operations once the licences are granted.

Chief executive Paul Johnson said that with plans underway for the spin-out/disposals of Power Metal’s two existing interests, the company was looking to rebuild its Australia portfolio.

Related Articles
Exploration & Mining Legal News

Corcel sells Wowo Gap and disputes Mambare buyout

Posted on Author editorial

Corcel plc has sold 100% of its Wowo Gap nickel-cobalt asset and will dispute the buyout of its 41% share in the Mambare nickel-cobalt project, both in Papua New Guinea. MAMBARE In March, Corcel restructured its PNG assets by signing a 50-50 joint venture (JV) deal with Integrated Energy Metals (IEM) to create a new carried vehicle […]
ESG Exploration & Mining News

Hummingbird focuses on water supply for Mali villages

Posted on Author editorial

Hummingbird Resources plc made progress during the first quarter of 2021 with its environment, social and governance (ESG) initiatives in Mali. In its production, operational and trading report for the Q1 2021, the miner said it had made particular advances in water infrastructure for several locally supported villages. Ongoing water rehabilitation at the locally supported […]
Exploration & Mining News

Red Rock-Power Metal to apply for Canada IPO and new gold licence

Posted on Author editorial

Red Rock Resources plc and Power Metal Resources plc have appointed legal counsel to begin the IPO process in Canada for the joint venture partners’ gold interests in Australia. LICENCES Red Rock Resources Australasia plc (RRAL), split 50.1%-49.9%, has also submitted an application for another licence in the Ballarat region in the Victoria gold fields. […]