Power Metal Resources PLC First Class Metals Update
16 Maio 2022 - 12:12PM
RNS Non-Regulatory
TIDMPOW
Power Metal Resources PLC
16 May 2022
16 May 2022
Power Metal Resources PLC ("Power Metal" or the "Company")
First Class Metals Update
Power Metal Resources PLC (LON:POW) the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio notes the update (the "Update")
released by First Class Metals PLC ("First Class") in which Power
Metal has a circa 36.3% interest.
The Update outlines the receipt of an exploration permit for the
Pickle Lake area and confirmation that earn-in joint venture
partner Palladium One (TSXV:PDM) is to launch a drill programme at
Pickle Lake.
The Update may be viewed through the following link:
https://www.firstclassmetalsplc.com/mining-news
First Class Metals PLC is a minerals exploration company focused
on proving and developing the significant potential of their
flagship property North Hemlo which includes the Pickle Lake
Palladium One JV area as well as systematic exploration of the Esa,
Sugar Cube, McKellar, Magical, Enable and Coco East projects, in
total 180km(2) in the Hemlo - Harte gold mines region in the
Western portion of the Wawa-Abitibi Gold Belt of Ontario,
Canada.
Geologically the claim blocks are located within the
Schreiber-Hemlo Greenstone Belt with target minerals gold, silver,
base and battery metals in typical Archaean / Hemlo style
mineralised settings. First Class is seeking a London Listing prior
to end Q2 2022.
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 Field and assay results
Project to multiple test from on-site work programme.
75% pits and mapping
& sampling.
---------- -------- ----------------------- ----------------------------------
Athabasca Canada 100% Data compilation Interpretation results
Uranium across uranium from all Properties complete.
properties Next steps upcoming.
---------- -------- ----------------------- ----------------------------------
Authier Canada Earn-in Soil & rock sampling Technical Review of exploration
North Lithium to completed results & define next
100% exploration steps.
---------- -------- ----------------------- ----------------------------------
Ditau Project Botswana 50% Drill programme Field updates and receipt
focused on key & review of laboratory
targets notably assay results.
drilling of potential
carbonatites and
targeting rare-earth
elements.
---------- -------- ----------------------- ----------------------------------
Kalahari Botswana 50% Exploration programme Field programme findings
Copper underway across and defined drill targets
Belt the South Ghanzi for near term drilling.
Project and further
exploration at
the more recently
acquired South
Ghanzi Extension
and Mamuno licence
areas
---------- -------- ----------------------- ----------------------------------
Molopo Botswana 53% Review of recent Determine next exploration
Farms exploration findings. steps and action plan.
---------- -------- ----------------------- ----------------------------------
Haneti Tanzania 35% Diamond drill Receipt & review of laboratory
Project programme completed assay results.
---------- -------- ----------------------- ----------------------------------
Victoria Australia 49.9% Diamond drill Field updates and receipt
Goldfields programme underway & review of laboratory
assay results.
---------- -------- ----------------------- ----------------------------------
Paterson Australia 83.33% Wallal passive Findings from multiple
Projects seismic and 2D work programmes including
seismic processing final approvals and preparations
work programme for planned deep diamond
completed. drilling.
Review of historical
data and target
generation for
Ripon Hills &
Braeside West
projects.
---------- -------- ----------------------- ----------------------------------
Selta Project Australia 83.33% Field reconnaissance Finalising data review
work complete, from field programmes.
which included
mapping and sampling.
---------- -------- ----------------------- ----------------------------------
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May 16, 2022 11:12 ET (15:12 GMT)
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