Power Metal Resources plc is completing preparations for drilling on its Perch River uranium joint venture property, containing the Rapids target, in the Athabasca Basin, Saskatchewan, Canada.
TARGETS
Following receipt of a permit last week for a seven to eight-hole diamond drill holes, the company will target the soil and in-situ radon anomalies of Rapids and a “large conductive anomaly”, previously identified.
An ambient noise tomography geophysical survey currently underway will further refine targets before drilling begins.
The drill rig is due to mobilise to the site during the third week of June ahead of the start of operations.
Further analysis of geophysical data continues while the company awaits results from gravity and magnetic geophysics survey.
The drilling permit, which expires on 30 November 2026, covers up to 30 drill holes and includes an aquatic habitat protection and forest product permits.
The joint venture, named Fermi Exploration Ltd, is with investor and 70% owner UCAM Ltd.