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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. ....