Power Metal Resources plc has completed its 2021 Phase I diamond drill exploration programme and established a new vehicle ahead of a possible public listing for the Silver Peak project in British Columbia, Canada.
NEW VEHICLE
A total of 19 holes were drilled and all cores are now being logged, catalogued and split by independent geological consultants prior to being sent for assay analysis to Vancouver.
The team, equipment and drill cores have been removed form the Silver Peak Mountain.
Power Metal said that a new vehicle, Silver Peak Resources Ltd, had been established into which the project claims will be transferred in readiness for public listing or acquisition by a potential third party.
SAMPLES
Chief executive Paul Johnson added that the Phase I drill programme was designed to test for frequency and extent of the high-grade silver mineralisation encountered in 2020.
“On visual inspection the extremely oxidised core appears very similar to that seen in samples collected during the summer 2020 channel sampling, which returned 0.50m of 14,937g/t silver (480 troy Ag oz/tonne), 3.05% copper and 11.95% lead.
“We have been successful in intersecting the targeted Victoria vein and clearly, look forward to receipt, analysis and publication of the assay results.”