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Power Metals makes a big impression in the KCB

2 August 2021
LON: POW
Rueben Hale
truck loading minerals copper, silver, gold, and other at mining quarry.

Power Metal Resources has postured at scale, planting a colossal footprint in Botswana’s rich Kalahari Copper Belt.

Acquiring eight new prospecting licences, the London-listed company will explore more than 4250 square kilometres of ground prospective for silver, copper and rare earth, making its South Ghanzi project one of the largest licence areas in the region.

 The news comes amid skyrocketing nickel and copper prices and within days of taking full interest in two gold-nickel exploration licences to explore Botswana’s Tati Greenstone belt.

Power Metal said the acquisition, completed by joint venture partner Kanye Resources Pty Ltd, is a testament to the exploration success achieved to date between the project partners.

 “Without question, the KCB joint venture with Kavango is currently one of Power Metal’s highest priorities, and we have got to this point in short order through the exceptional work undertaken by the Kavango operational team,” chief executive Paul Johnson said.

“The progress achieved in the KCB demonstrates the value we can generate for our shareholders when we focus our financial and managerial resources on projects that deliver high-impact exploration results efficiently and effectively.

“We eagerly look forward to the planned drill programme at South Ghanzi, as well as inaugural and ongoing exploration results at our newly expanded land package within the KCB.”

The acquisition was initially announced to the market on 29 March 2021 and was subject to due diligence and licence transfer which has now been completed successfully. 

 The company’s London Stock Exchange-listed shares had lifted 8 per cent today, trading at 2.6 British Pounds (10:12 pm GMT+ 8 hours).

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

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