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)	[phone]
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat	[phone]
SI Capital Limited (Joint Broker)
Nick Emerson	[phone]
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson	[phone]

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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