Power Metal Resources plc has extended the due diligence period for the creation of a uranium-focused joint venture in Canada. PROGRESS The June agreement for the company’s entire Saskatchewan portfolio with ACAM LP includes a £2m subscription and a £10m non-binding term sheet. Power Metal holds 16 properties over a combined 92,407ha (924.07km2), surrounding and within […]
Tag: Power Metal Resource plc
Power Metal stakes additional claims at Garfield
Power Metal Resources plc has staked eight further claims after identifying new copper anomalies at the Garfield copper-gold property in the Walker Lane mineral belt in Nevada, USA. ANOMALIES The findings are from analysis of recent satellite imagery of Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) and European Space Agency Sentinel-2 datasets. The two “strong” […]
RRAL discovers historic mine workings in Victoria
Red Rock Resources Australasia Pty Ltd (RRAL) announced it had discovered 150-year-old workings and well-developed adits at its gold exploration licences in the Victoria gold fields in Australia. JOINT VENTURE The joint venture company, between Red Rock Resources plc (50.1%) and Power Metal Resources plc (49.9%) said it had started a re-entry programme at the […]
Power Metal enters uranium exploration
Power Metal Resources plc has staked claims for four 100% owned uranium exploration properties comprising seven licences surrounding the Athabasca Basin in Saskatchewan, Canada. BUSINESS Acquired through its local subsidiary, the properties include Clearwater, Tait Hill, Thibaut Lake and Soaring Bay which cover a combined 10,869 hectares (109km2). The area hosts some of the world’s “largest […]
Power Metal signs Pilot tungsten option
Power Metal Resources plc has signed a strategic option agreement to acquire a 100% interest in the tungsten-copper-silver-zinc Pilot Mountain project in Nevada. EXPLORATION The 5,908-acre project comprises four existing mineral deposits of Garnet, Good Hope, Gunmetal and Desert Scheelite which all hold “significant skarn-style tungsten-copper-silver-zinc mineralisation”. Pilot lies 200km southeast of Reno and hosts a […]
Power Metal intersects Victoria vein at Silver Peak
Power Metal Resources plc has intersected the high-grade Victoria vein in all 12 diamond drill holes out of a planned 25-hole programme at the Silver Peak project in British Columbia, Canada. Located on Silver Peak Mountain, the project includes the Eureka-Victoria silver mine which is covered by the first ever Crown-granted mineral claim within the province. Power […]