Power Metal Resources plc has progressed its tungsten-gold-copper-silver projects in Nevada, USA.
PRIORITY
Through its majority-owned subsidiary Golden Metal Resources Ltd, the company owns the Pilot Mountain, Golconda, Garfield and Stonewall projects.
Golden Metal aims to be independently listed on the London markets during Q2 2022.
Desktop analysis at Pilot Mountain has identified several high-priority tier 1 and tier 2 targets with “the potential to host significant new discoveries of tungsten-copper-silver skarn type mineralisation”.
Golden Metal said it had received a competitive proposal for a high-resolution ground 3D induced polarisation (IP) and magnetic geophysics survey.
The company expects to choose its contractor for the planned 2022 drilling campaign and has appointed a drill management services company.
An ex-Newmont senior geologist will manage exploration on Golconda Summit and is currently undertaking a detailed historic data analysis.
Preliminary on-site investigations have identified “multiple geological similarities” with the nearby Pinson and Preble gold mines.
Golden Metal has received a competitive proposal for a soil geochemical sampling survey across Garfield and nearby high-priority expansion targets.
Desktop analysis has also identified two high-priority zones along the Stonewall vein which have never been drill tested, with two priority zones for future work programmes.
The company added it was in the process of staking an additional 11 lode mining claims to allow better coverage of the zones, multiple historic mine adits and shafts southwest of the Stonewall vein.