TIDMPOW
RNS Number : 1359B
Power Metal Resources PLC
05 October 2020
5 October 2020
Power Metal Resources PLC
("Power Metal" or the "Company")
Power Metal - Project Portfolio Update
Power Metal Resources plc (LON:POW) the AIM listed metals
exploration and development company is pleased to provide a project
portfolio update for shareholders.
Paul Johnson, Chief Executive Officer of Power Metal Resources
plc commented:
"Power Metal has built a diverse portfolio of interests and has
multiple projects in the active exploration phase. The latest
position for all our project interests is outlined below, together
with details of targeted near-term news flow across our
business.
To assist investors and shareholders keep track as we push ahead
with multiple exploration programmes we continue to enhance our
communications tools embracing both public and investor relations
disciplines. The Company's corporate website is being updated at
present and a new website is to be launched in the coming month. We
are also looking to launch or enhance project level websites where
appropriate.
We work hard to keep our corporate presentation fully up to date
with each Company announcement, so it should remain a primary tool
for shareholders wishing to learn more. Today we are also launching
a Project Dashboard for shareholders which will be held on our
website and contain an updated overview of each project, its status
and near-term plans.
Power Metal are seeking large scale metal discoveries through
active exploration, much of which is currently underway or about to
commence. Given the level of activity it's important we remain open
to feedback. Therefore, should shareholders have any questions, or
suggestions, please let us know via
info@powermetalresources.com."
Project Information Sources for Shareholders:
Further details in respect of Power Metal's nine project
interests can be found on the Company's website
https://www.powermetalresources.com/s/30/projects
The Company maintains a frequently updated Corporate
Presentation which provides an overview of each project and
additional corporate information and this may be viewed through the
following link:
https://www.powermetalresources.com/p/193/presentations
Recognising the breadth of the Company's projects, and the
ongoing active exploration across numerous projects, Power Metal
have today launched a Project Dashboard. This provides an updated
list of Company's projects, their current status and each project's
targeted near term newsflow.
The Dashboard is now embedded into the Company's website and a
pdf copy may be downloaded through the following link:
https://www.powermetalresources.com/Uploads/8668-POW_Project_Summary_Updated.pdf
The latest project status and targeted news flow is also
outlined below. Shareholders should note that the targeted outcomes
and plans may be impacted by a variety of factors, of which readers
will be aware the continuing Covid-19 pandemic remains a material
factor. Power Metal works with its in-country partners to mitigate
and manage all risks proactively and efficiently to ensure where
possible the safe continuation of ground operations.
Power Metal Project Status and Targeted News Flow:
PROJECT METAL POW CURRENT STATUS TARGETED KEY NEWS 2020
INTEREST
AUSTRALIA Gold 49.9% 12 applications Potential grant of exploration
Victoria Goldfields over (2,188 licences, starting with
Joint Venture km(2.) ) Completed first 3 priority applications,
historic project then launch of exploration
reports, exploration programmes.
planning and Progress updates for
NI 43-101. listing on North American
stock exchange.
-------- ---------- ----------------------- --------------------------------
BOTSWANA Rare 50% 2 licences Commence orientation
Ditau Camp Earths (1,386km(2) study to assist in the
Project ) Rare earths characterisation and
potential established exploration vectoring
from recent for the Ditau Project
exploration carbonatite ring-structures
work. potentially hosting
rare earths.
-------- ---------- ----------------------- --------------------------------
BOTSWANA Copper 50% 2 licences Exploration results
Kalahari Copper Silver (1,386km(2) from soil sampling,
Belt Project ) southwest then ground magnetic
of Sandfire surveying, and possibly
Resources' airborne electromagnetic
T3 and A4 Dome surveying, leading into
copper-silver drill target development.
discoveries.
-------- ---------- ----------------------- --------------------------------
BOTSWANA Nickel Up to 3 licences Planned launch of maiden
Molopo Farms Copper 50.96% (1,780km(2) drill programme and
Complex Project PGMs ) with multiple thereafter delivery
targets identified of results from drilling
from electromagnetic to the market including
survey and on-site findings and
ground geophysics. laboratory assays.
-------- ---------- ----------------------- --------------------------------
CAMEROON Cobalt 100% 4 licences Announce findings from
Cobalt Blue Nickel adjacent to, review of exploration
Project or within 50km strategies and potential
of the Nkamouna/Nada commercialisation options.
cobalt/nickel
deposit.
-------- ---------- ----------------------- --------------------------------
CANADA Silver 30% Mineral claims Planned launch of drill
Silver Peak over historical programme targeting
Project Eureka-Victoria high grade silver veins
Silver Mine and following channel
and high grade, sampling in September
intrusion related, 2020 which highlighted
polymetallic bonanza grade of up
Ag-Pb-Zn-Cu to 14,937g/t (482 oz/t).
veins.
-------- ---------- ----------------------- --------------------------------
DRC Copper 70% Exploration Copper/cobalt assay
Kisinka Project Cobalt licence of results pending from
41 carrés 2020 pitting programme.
miniers (each C onversion of the licence
84.95 ha) with to a Permis d'Exploitation
a 6.8km copper (production license)
anomaly identified. with a 25 year life.
-------- ---------- ----------------------- --------------------------------
TANZANIA Nickel 35% Large polymetallic Planned launch of maiden
Haneti Project Copper land package drill programme and
PGMs of c5,000 km(2) thereafter delivery
Gold including 80km of results from drilling
etc long ultramafic to the market including
complex with on-site findings and
drill ready laboratory assays
nickel sulphide/PGM
targets.
-------- ---------- ----------------------- --------------------------------
USA Gold Up to Package of Planned follow on exploration
Alamo Gold 75% mining claims programme after initial
Project covering c766 short reconnaissance
acres prospective survey conducted successfully
for gold following in August 2020.
the discovery
of native gold
nuggets near
surface.
-------- ---------- ----------------------- --------------------------------
REGULATORY STATEMENT
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No.596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
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 (LON:POW) is an AIM listed metals
exploration and development company seeking a large scale metal
discovery.
The Company has a global portfolio of project interests
including precious metal exploration in North America and Australia
together with base metal exploration in Africa. Project interests
range from early stage greenfield exploration to later stage drill
ready prospects.
The Board and its team of advisors have expertise in project
generation, exploration and development and have identified an
opportunity to utilise the Company's position to become a leader in
the London market for investors wishing to gain exposure to
proactive global metals exploration.
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