First Class Metals plc has started field work on the gold-base metal Coco East property, comprising 30 single cell claims, 25km north of Terrace Bay town in northwest Ontario. FUNDS The 6.3km2 block lies on the eastern sector of the Big Duck Lake Porphyry which contains “a number of historic showings” on the Schreiber-Hemlo greenstone […]
Tag: Power Metal Resources plc
Power Metal signs 75% option for Cherished Hope
Power Metal Resources plc has signed a 75% share option over its 100% owned licence, containing the Cherished Hope gold mine, on the Tati Greenstone Belt, Botswana. MINING The agreement is between its local subsidiary Tati Greenstone Resources Pty Ltd (TGR) and Tuscan Holding Pty Ltd which is held by Medici Mining Investment LLC registered in Delaware, USA. If […]
Red Rock takes 100% of Australia gold JV
Red Rock Resources plc now owns 100% of its Australian gold joint venture after completing the purchase of its partner’s share. The company bought Power Metal Resources plc’s 49.9% interest in subsidiary New Ballarat Gold Corporation plc, which wholly owns local operator Red Rock Australasia Pty Ltd. The transaction covers exploration licences in the Victoria […]
New Ballarat extends sale & purchase date
Power Metal Resources plc has agreed to extend the sale date of its 49.9% interest in its Australian gold joint venture to partner Red Rock Resources plc because of a national public holiday. EXPLORATION Red Rock owns 50.1% of New Ballarat Gold Corporation plc, which wholly owns Red Rock Australasia Pty Ltd (RRAL), the local operator with […]
Power Metal plans Canada uranium JV
Power Metal Resources plc has signed a binding £2 million subscription as loan notes with a possible further £10m initial investment for a proposed Canada uranium joint venture. DISCUSSIONS Through its local subsidiary, the company holds 16 properties over a combined 92,407ha (924.07km2), surrounding and within the Athabasca Basin in northern Saskatchewan. The investment follows Power […]
Power Metal completes Wilan merger
Power Metal Resources plc has agreed the merger, announced in December 2022, of its Wilan IOCG* project in South Australia with additional licences in Queensland, and the subsequent sale. INCUBATOR The expanded portfolio includes Wilan’s two exploration licences over a total 1,994km2 in the Olympic Dam precinct and the Fiery Creek and Bartola copper projects in […]