Exercise of Ontario Option - McKellar Property
Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce that following due diligence work the Company has exercised its option to acquire the McKellar Property ( McKellar ) located on the prospective Schreiber-Hemlo Greenstone Belt in north-western Ontario, Canada. McKellar is one of four gold exploration properties upon which the Company has an exclusive option to acquire a 100% interest (as announced 26 January 2021). Paul Johnson Chief Executive Officer of Power Metal Resources plc commented: Exercising the option over the McKellar Property strengthens Power Metals landholding over a part of Ontario which is currently seeing heightened junior exploration company activity.
Paul Johnson Chief Executive Officer of Power Metal Resources plc commented: The acquisition of three exploration projects covering a significant portion of prospective greenstone belt in mining and investment friendly Ontario is a significant development for Power Metals. The acquisition comes at a highly competitive time when this part of Canada is attracting a significant amount of investment from Canadian listed junior explorers. The Project has the potential for both gold and base metal discoveries in an under explored area which offers Power Metal, as a proactive exploration company, the potential to add significant value through early stage exploration success.
Botswana Strategic Joint Venture Update Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce an update with regard to the Strategic Joint Venture ( SJV ) with Kavango Resources plc ( Kavango )(LON:KAV) covering precious, base and strategic metal opportunities in Botswana.
Paul Johnson Chief Executive Officer of Power Metal Resources plc commented: The Strategic Joint Venture with Kavango is gathering considerable momentum with proactive exploration underway at the Ghanzi Project in the Kalahari Copper Belt and at the Ditau Project.
Power Metal and Kavango are to accelerate the SJV both from an exploration and corporate perspective, including the plans for a potential listing on a North American or UK stock exchange as soon as practicable.
Power Metal Resources plc (LON:POW) the AIM listed African focused metals exploration and development company is pleased to provide a further update on the recently completed second diamond drill hole (KKME 1-6) at the Kalahari Key Mineral Exploration Pty Ltd ( Kalahari Key or KKME ) Molopo Farms Complex Project (the Project or MFC Project ), which is targeting prospective massive nickel sulphide and platinum-group metal ( PGM ) mineralisation in Botswana.
Re-analysis has been undertaken of the airborne electromagnetic ( AEM ) conductivity depth sections on hole 1-6, and of the ground geophysics results interpreted by superconducting quantum interference device ( SQUID ), in the light of preliminary assessment of the drill core.
Kisinka Project - Geophysics Programme Commencement Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company announces an update in respect of its 70% owned Kisinka Copper-Cobalt Project ( Kisinka or the Project ). The Project is located some 30km East of the regional capital of Lubumbashi in the southern part of the Katangan Copperbelt in the Democratic Republic of the Congo. KEY POINTS · On 20 November 2020 the Company announced laboratory assay results confirming high cobalt and copper values in parts of the 6.8km+ anomalous zone identified by the Company s previous exploration work. · The local operating team are to mobilise this week to begin a programme of geophysics at the Project under the supervision of Minerals Exploration Associates SARL ( Minex Consulting SA ).