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FDR pivots for scale find in the prolific Paterson province

13 September 2021
LON: POW
Rueben Hale

First Development Resources Australia, a subsidiary of London-listed Power Metal Resources, is moving forward with a focused exploration of deep laying gold-copper targets at the Wallal project in Western Australia’s Paterson province.

The company, which is moving to the next exploration phase near the massive Winu and Haverieron deposits, said its first passive seismic survey would play an essential step in determining the geological similarities of these large-scale discoveries.

“It is important to articulate clearly the work completed in the Paterson Region to date, and below we provide a summation of our overall exploration rationale, current findings, and future exploration plans,” chief executive Paul Johnson said.

“We have identified geological and geophysical features within our Wallal licence that bear similarities to two major and recently discovered deposits within the Paterson Region at Winu and Havieron, both of which are under development.

“Whilst awaiting licence grants at the Wallal Project, we have continued to advance our review of all available existing data.

“We now are moving to the next stage with our work programmes to generate new data and refine target information purposed specifically for a planned deep drilling programme.

“In our view, there is increasing the potential for a major metal discovery at the Wallal Project, and as one would expect, we are pushing ahead with some enthusiasm.”

Power Metal looks forward to providing timely updates on exploration and results.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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