Power Metal Resources plc has completed a desktop study and survey ahead of negotiations for a drill contract at its gold-copper Wallal project in the Paterson Province, Western Australia.
LICENCES
The company’s portfolio is through First Development Resources Ltd (FDR) and includes the Wallal tenements, Braeside West and Ripon Hills projects.
Power Metal has a current effective interest of 96.15% in FDR.
The company has also started an in-depth review of all available geological, geophysical and geochemical data associated with Ripon Hills and Braeside West.
STUDY
A completed desktop study for Wallal estimated the thickness of Phanerozoic sedimentary cover sitting above the Proterozoic basement rocks hosting the magnetic anomalies.
Power Metal interpreted that the Proterozoic basement hosted the sources of the magnetic bullseye anomalies.
The company has also refined a 3D model of the Eastern magnetic bullseye anomaly, which suggests it consists of two lobes.
The desktop study estimated the depth of cover above the Eastern anomaly is 800m and 330m above the Border anomaly.
DRILLING
The Phase I diamond core drilling programme will target the Eastern and border magnetic bullseye anomalies.
Chief executive Paul Johnson added that the company now had clearer insight of the targets to allow more detailed discussion with potential drill contractors.
APPLICATIONS
Power Metal has submitted an application to the Western Australian Government for a programme of works ahead of starting the drilling programme.
It has also submitted a request for a Heritage Clearance Survey to the Yamatji Marlpa Aboriginal Corporation traditional owners to secure land access before work starts later in 2022.