Power Metal Resources plc said it had completed geophysics surveys ahead of selecting target areas for drilling at its precious and base metal projects in Nevada, USA.
PROJECTS
The company’s subsidiary (83.13%) Golden Metal Resources plc, holds 100% of the Pilot Mountain, Garfield and Stonewall projects, and a right to earn-in to a 100% interest in the Golconda project.
PILOT MOUNTAIN
Power Metal said it had completed the field-based component of the 3D induced polarisation (IP) geophysics survey over the flagship Pilot Mountain project.
The results, once received, will enable a more detailed assessment of high priority targets, with follow-up drilling planned to start after Golden Metal’s planned listing later in 2022.
The company is targeting additional resources of tungsten (W), copper (Cu), silver (Ag) and zinc (Zn).
GARFIELD
Golden Metal collected 453 soil samples in a high-resolution soil geochemical survey over the Garfield project.
The results will help the company target additional copper-gold-silver mineralisation, building on the significant evidence of skarn-type mineralisation established to date.
SAND COVER
Golden Metal chief executive Oliver Friesen said that the Pilot Mountain project hosted one of the largest undeveloped tungsten resources in the USA.
“This important survey could be the key to unlocking additional W-Cu-Ag and Zn prospective targets.
“Between the four main deposit areas on the property, despite several historical reports highlighting the areas’ prospectivity, very little historical work has been carried out.
“This is mainly because of the thin post-mineral sedimentary sand cover that blankets this area.
“With the geophysics work now completed, we will be the first company to image under this sand cover, looking for additional targets to explore during our planned 2022 drilling programme.”