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Power Metal finds silver potential in Canada

5 August 2021
LON: POW
Rueben Hale
silver, silver mining

London-listed Power Metal Resources has hit continuous high-grade silver mineralisation at its Silver Peak project nestled in the mountains of Canada’s British Columbia province.

Efficient and vigorous first phase diamond drilling completed on 13 of 25 planned holes has observed a significantly oxidised vein consistent with a previous sample that showed almost 15,000 grams per tonne of silver,  just over three per cent copper and nearly 12pc lead over half a metre from the site.

The news comes just days after the scale metals explorer announced it had attained eight new prospecting licences enabling the exploration of more than 4250 square kilometres of ground prospective for silver, copper and rare earth in Botswana.

The company said the exploration, which includes the Eureka-Victoria Silver Mine, will provide critical data necessary for the planned deep drilling at the end of the year.

“Excellent progress has been made thus far in the 2021 diamond drilling at Silver Peak with 12 holes now completed, high core recovery and evidence that the drill core is extremely oxidised.,” chief executive Paul Johnson said.

“Heavily oxidised core was the characteristic of samples previously tested which delivered the bonanza grade silver results from the due diligence channel sampling undertaken last summer.”

Power Metal expects the current phase of drilling to be completed by mid-August.

The company’s London Stock Exchange-listed shares have risen .24pc, trading at 2.10 British Pounds (3:44 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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