Power Metal Resources plc’s joint venture has defined a new target area at the Perch River uranium project within the Athabasca Basin in Saskatchewan. SURVEYS The company and partner UCAM Ltd completed helium, hydrogen, radon and soil geochemistry surveys to delineate the Rapids target. The new area consists of “multiple overlapping geochemical and radon anomalies” within a […]
Tag: Power Metal Resources plc
Power Metal formalises Oman copper earn-in
Power Metal Resources plc has finalised the formal binding earn-in on the Block 8 copper concession in the Hazm area of northwestern Oman. SAMPLING Agreed with Alara Resources Ltd and Awtad Copper LLC, the company’s subsidiary Power Metal Arabia will spend up to US$740,000 for a 12.5% stake. The company’s four main workstreams comprise stream and Wadi sampling with initial […]
Power Metal completes uranium JV
Power Metal Resources plc has completed the formation of a uranium-focused joint venture involving all its uranium licences, with UCAM Ltd. MODEL The company’s Saskatchewan portfolio includes Perch River; Tait Hill; Cook Lake; Reitenbach; Thibault Lake; Clearwater; Soaring Bay; E12; and the most recently acquired Drake Lake – Silas in Newfoundland and Labrador. Airborne electromagnetic surveys are pending for […]
Power Metal acquires new uranium project
Power Metal Resources plc has acquired the Drake Lake-Silas uranium project in Newfoundland and Labrador, Canada. OCCURRENCES The property will be sold into the company’s planned joint venture involving its entire portfolio of uranium licences with UCAM Ltd. Power Metal said it would not further extend the JV’s exclusivity date, “given the advanced state of the transaction” and expects to […]
Power Metal further extends date for uranium JV
Power Metal Resources plc has further extended the exclusivity period to form a Canada uranium-focused joint venture involving its entire portfolio of uranium licences. INVESTOR The company signed a binding agreement in June which was extended in August and is now moved to 27 September. The parties have completed due diligence and preparation for the […]
Power Metal targets Oman copper earn-in
Power Metal Resources plc has signed a non-binding heads of terms to earn 12.5% in the Block 8 copper concession in the Hazm area of northwestern Oman. EXPLORATION The company and its majority owned subsidiary Power Arabia Ltd reached the deal with Australia-based Alara Resources Ltd and Awtad Copper LLC. Alara’s flagship mining project is the Al Wash-hi […]