FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Power Metal sets sights on drilling post strong results

23 June 2021
LON: POW
Rueben Hale
Spoon raking copper ore

Power Metal Resources has confirmed promising results across its South Ghanzi project in Botswana, with the company keenly awaiting the commencement of drilling.

The London-listed explorer said this week soil sampling results had confirmed that the Morula copper-zinc target extends for at least 12 kilometres, delivering “very strong drill targets” for the project in Botswana’s Kalahari copper belt.

The news follows Power Metal closing a copper-gold deal with busy Australian explorer First Development Resources, picking-up a handy portfolio of exploration interests in the Paterson Province in Western Australia.

The company, which is developing South Ghanzi through a 50-50 joint venture with miner Kavango Resources, said the progress to date has been better than expected.

“Once again, I am reminded of the substantial opportunity the Kalahari Copper Belt offers for major base metal discoveries,” chief executive Paul Johnson said.

“In 2016, whilst CEO of Metal Tiger, we followed a similar exploration methodology which led to the discovery of the T3 Deposit, a discovery which was to be transformational for that company and its shareholders.

“I am very much looking forward to the commencement of a programme of drill testing at the Project.”

Founded in London in 2011, Power Metal is listed on the Alternative Investment Market in London and focuses on the exploration and development of commodities for making batteries for electric vehicles such as nickel, copper and cobalt.

In recent years, it has broadened its exposure to include gold projects, giving the company a global portfolio that spans precious and base metal exploration in North America, Africa and Australia.

Power Metal is making an assessment of optimal drill locations and will kick-off drilling planned as soon as the South Ghanzi environmental management plan is awarded.

COMPANY OVERVIEW

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 gold 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.

COMPANY INFORMATION

LON: POW

Website

https://www.powermetalresources.com/
https://www.londonstockexchange.com/stock/POW/power-metal-resources-plc/company-page

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!