Power Metal Resources has exercised its option to earn-in to the Silver Peak project in southern British Columbia, Canada.
Following positive due diligence at the Eureka-Victoria silver mine, the company will now be able to earn-in to a 30% interest in the project, with an additional C$225,000 committed for ground exploration.
A technical review is currently focusing on next stage exploration including preparation for a drilling programme subject to approvals.
The earn-in offers Power Metal an interest in a high-grade silver exploration property in Canada, including a former working silver mine.
Chief executive Paul Johnson said that the project was a material addition to the company’s portfolio.
“Power Metal, alongside the vendors, intend to push ahead expeditiously with exploration on the ground.”
Silver Peak comprises mineral claims over a system of intrusion-related, silver-lead-zinc-copper veins, part of the historical Eureka-Victoria silver mine.