TIDMPOW
Power Metal Resources PLC
25 February 2022
25 February 2022
Power Metal Resources PLC
("Power Metal" or the "Company")
USGS Releases 2022 List of Critical Minerals
Power Metal Resources plc (LON:POW), the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio highlights the United States
Geological Survey's ("USGS") 2022 List of Critical Minerals which
was published on February 22, 2022. The full announcement can be
found at the following link:
U.S. Geological Survey Releases 2022 List of Critical Minerals |
U.S. Geological Survey (usgs.gov)
The Critical Minerals list is published every three years and is
determined using modern scientific methods to evaluate mineral
criticality. The new list that was recently published contains 50
non-fuel mineral or mineral material that that are considered
essential to the economic or national security of the United States
of America ("USA") and which has a supply chain vulnerable to
disruption. Additionally, critical minerals are characterized as
serving an essential function in the manufacturing various critical
products, the absence of which would have significant consequences
for the economy or national security of the USA.
The notable changes from the 2018 list include the additional of
nickel and zinc, as well as the removal of helium, potash, rhenium
and strontium. Tungsten, lithium, cobalt, rare earth elements and
platinum group metals all retained their inclusion in the 2022
Critical Minerals list.
Power Metal's Exposure
- Tungsten (W) was once again included on the USGS's Critical
Minerals list. The main uses can be viewed at the following link:
Tungsten Statistics and Information | U.S. Geological Survey
(usgs.gov). Power Metal, through its portfolio company Golden Metal
Resources ("Golden Metal") maintains significant exposure to the
critical mineral through its 100% holding of the Pilot Mountain
Project located in Nevada, USA. Pilot Mountain hosts a robust
Mineral Resource Estimate (MRE) of 12.53Mt at 0.27% WO(3) with
significant silver, copper and zinc credits. Golden Metal is
undertaking a planned listing on the London capital markets in
2022.
- Power Metal also maintains significant global exploration
exposure to several other metals on the Critical Minerals list
including:
o Lithium: Through its Authier North Property located in Quebec,
Canada, as well as its Haneti Project located in Tanzania.
o Rare Earth Elements (REEs): Through its Ditau Property located
in Botswana, as well as its Selta Project located in the Northern
Territory, Australia, held through its portfolio company, First
Development Resources Limited.
o Platinum Group Metals (PGMs): Through its Molopo Farms project
located in Botswana.
o Nickel: Through its Tati and Molopo Farms projects located in
Botswana, as well as its Haneti Project located in Tanzania.
For further information and to view the new corporate
presentation please visit the newly launched website at:
https://www.goldenmetalresources.com
For further information please visit
https://www.powermetalresources.com/ or contact:
Power Metal Resources plc
Paul Johnson (Chief Executive Officer) +44 (0) 7766 465 617
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson +44 (0) 1483 413 500
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson +44 (0) 20 7330 1883
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (LON:POW) is an AIM listed metals
exploration company which finances and manages global resource
projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering
district scale potential across a global portfolio including
precious, base and strategic metal exploration in North America,
Africa and Australia.
Project interests range from early-stage greenfield exploration
to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through
strategic joint ventures until a project becomes ready for disposal
through outright sale or separate listing on a recognised stock
exchange thereby crystallising the value generated from our
internal exploration and development work.
Value generated through disposals will be deployed internally to
drive the Company's growth or may be returned to shareholders
through share buy backs, dividends or in-specie distributions of
assets.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway,
with results awaited, as outlined below:
Project Location POW % Work Completed Results Awaited
or Underway
Alamo Gold USA Earn-in Excavation of multiple Field and assay
Project to 75% test pits and mapping results from on-site
& sampling. work programme.
---------- --------- ------------------------ ----------------------------
Athabasca Canada 100% Data compilation Interpretation
Uranium across uranium results from 5
properties of 7 properties.
---------- --------- ------------------------ ----------------------------
Authier North Canada Earn-in Soil & rock sampling Interpretation
Lithium to 100% completed of laboratory assay
results of samples
collected defining
next exploration
steps.
---------- --------- ------------------------ ----------------------------
Ditau Project Botswana 50% Preparatory exploration Field programme
work underway on findings and defined
target I10 leading drill targets for
to planned accelerated near term drilling.
drilling targeting
rare-earth elements
and base metals
---------- --------- ------------------------ ----------------------------
Kalahari Copper Botswana 50% Exploration programme Field programme
Belt underway across findings and defined
the South Ghanzi drill targets for
Project and further near term drilling.
exploration at
the more recently
acquired South
Ghanzi Extension
and Mamuno licence
areas
---------- --------- ------------------------ ----------------------------
Molopo Farms Botswana 53%(A) Kavango Option Results from various
to acquire an interest work activities
in local project underway as part
holding company. of the Kavango
Option fee payable Option.
through defined
work programme
---------- --------- ------------------------ ----------------------------
Tati Gold/Nickel Botswana 100% Reverse circulation Laboratory assay
drill programme results awaited.
completed
---------- --------- ------------------------ ----------------------------
Haneti Project Tanzania 35% Diamond drill programme Laboratory assay
completed results awaited.
---------- --------- ------------------------ ----------------------------
Selta Uranium Australia 83.33% Geological, geophysical Findings of review
Rare Earth and geochemical including confirmation
Element Project review across the of key targets
project. for next stage
exploration.
---------- --------- ------------------------ ----------------------------
Victoria Goldfields Australia 49.9% Diamond drill programme Field updates and
underway Laboratory assay
results awaited.
---------- --------- ------------------------ ----------------------------
Paterson Projects Australia 83.33% Wallal passive Findings from multiple
seismic and 2D work programmes
seismic processing including final
work programme approvals and preparations
completed. for planned deep
Review of historical diamond drilling.
data and target
generation for
Ripon Hills & Braeside
West projects
---------- --------- ------------------------ ----------------------------
(A) should Kavango exercise their option to acquire Kalahari
Key, Power Metal interest would reduce to 40% of the Molopo Farms
Complex project
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END
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