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Power Metal (POW)

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Wednesday 15 December, 2021

Power Metal

Golden Metal Resources - Communications Update

RNS Number : 7690V
Power Metal Resources PLC
15 December 2021
 

15 December 2021

Power Metal Resources PLC

("Power Metal" or the "Company")

Golden Metal Resources - Communications Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company provides a communications update for Golden Metal Resources Limited ("Golden Metal" or "GMT") in which the Company has an 83.13% interest.


Golden Metal is a Nevada, USA, focused exploration and development company and is undertaking a planned listing on the London capital markets targeting April 2022.

 

Golden Metal recently raised £750,000 in Pre-IPO financing and further information in respect of this is available through the following link:

 

https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-pre-ipo-financing/15244131

 

 

Launch of New Website and Corporate Presentation

With the progress made across the Golden Metal project portfolio in recent months, and the various commercial developments including the completion of the pre-IPO financing, Power Metal and Golden Metal have been working on marketing and communications materials as exemplified in the new website and corporate presentation launched today.

The Golden Metal website is now available through the following link:

https://www.goldenmetalresources.com

The Golden Metal corporate presentation may be accessed directly through the following link:

 

https://www.goldenmetalresources.com/golden-metal-resources-presentation/

 

 

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc


Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617



SP Angel Corporate Finance (Nomad and Joint Broker)


Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470



SI Capital Limited (Joint Broker)


Nick Emerson                                                                                                           

+44 (0) 1483 413 500



First Equity Limited (Joint Broker)


David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

 


NOTES TO EDITORS

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

 

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

 

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

 

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

 

Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

 

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

 

Project

Location

POW %

Work Completed or Underway

Results Awaited






Alamo Gold Project

USA

Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field results from on-site work programme.

Athabasca Uranium

Canada

100%

Phase I field exploration completed

Laboratory assay results of samples collected for uranium and REEs

Authier North Lithium

Canada

Earn-in to 100%

Soil & rock sampling completed

Laboratory assay results of samples collected

Ditau Project

Botswana

50%

Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals

 

Field programme findings and defined drill targets for near term drilling.

Kalahari Copper Belt

Botswana

50%

Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling

Molopo Farms

Botswana

53%

Kavango Option to acquire an interest in local project holding company.  Option fee payable through defined work programme

Results from various work activities underway as part of the Kavango Option

Tati Gold/Nickel

Botswana

100%

Reverse circulation drill programme completed

Laboratory assay results awaited

Victoria Goldfields

Australia

49.9%

Ongoing exploration across 848km2 of granted exploration licences

 

Results from field programme including drill programme underway

Wallal Gold/Copper Project

Australia

83.33%1

Passive seismic and 2D seismic processing work programme completed

Results awaited

1   assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company's announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors.

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