London-listed Power Metal Resources is upping-the-ante on exploration at the highly prospective Garfield project in the US state of Nevada, following a discovery of anomalies consistent with previous high grades of copper and gold nearby.
The anomalies are located over one kilometre and 1.5 kilometres away from the main Garfield showings. Historic rock sampling proximal to these anomalies returned up to 2.6 per cent copper and 5.53pc, respectively.
The explorer, focused on scale metal discoveries around the world, has staked additional claims to cover the new target areas after detecting the anomalies from satellite imagery.
The company said the intercepts have the potential to significantly expand the company’s potential copper mineralisation footprint.
“Given the findings we have intensified our exploration activities at Garfield and look forward to further updating shareholders with the outcomes from this exploration work,” chief executive officer Paul Johnson said.
Power Metal Resources is a metals exploration company developing a global portfolio including precious, base, and strategic metal exploration in North America, Africa, and Australia.
The Walker Lane mineral belt already hosts several world-class mining projects. An initial sampling at the company’s Garfield project has returned 6.0 pc copper, 3.5 grammes per tonne of gold, and 124 grammes per tonne of silver.
Copper is trading at record highs in mid-October, and the two other precious metals are expected to continue recent rises well into 2022.
POW is now reviewing other strong anomalies near the newly expanded site identified by the analysis and lie on ground currently open for staking.
The company’s London Stock Exchange-listed price is 1.8 British pence (11:00 am GMT + 8 hours).