Power Metal Resources plc has increased its uranium and rare earth elements portfolio by acquiring 100% of the Selta project in the Northern Territory, Australia. SELTA The deal is through the company’s subsidiary, First Development Resources Ltd (FDR), in an all-FDR share transaction to acquire Australian company URE Metals Pty Ltd which owns the project. FDR will start exploration […]
Tag: Power Metal Resources plc
Power Metal raises £1.05 million through placing
Power Metal Resources plc has raised £1.05 million through the issue of 60,000,000 new ordinary shares of 0.1p each. The funds were raised at the closing market mid-price of 1.75p on 12 November, increasing the company’s working capital comprising solely cash and listed investments to circa £3m. The new shares issued represent a dilution of 4.5% of current issued share […]
Power Metal reports bonanza grades from diamond drilling at Silver Peak
Power Metal Resources plc announced bonanza grades from its 2021 diamond drilling exploration programme on the Silver Peak project in British Columbia, Canada. PHASE I The company completed 19 short-cored drill holes using Shaw or Hilti portable drills, producing 34mm diameter core samples. INTERCEPTS Power Metal said that assay analysis showed that 10 out of the 19 […]
Power Metal steps up uranium campaign
Power Metal Resources plc has further increased its uranium portfolio by 54% at its 100% owned interests surrounding the Athabasca Basin in northern Saskatchewan, Canada. DATA The company has added 144.84 km2 and now holds 411.96 km2 (41,196 ha) with the additional ground (54.2%) staked around Thibaut Lake, Clearwater and Reitenbach properties. Power Metal said it was compiling historic data from […]
Power Metal starts campaign to increase uranium interests
Power Metal Resources plc said it had started a campaign to increase significantly its uranium portfolio as it staked additional claims around the Athabasca Basin in northern Saskatchewan, Canada. EXPANSION Power Metal has three times increased its 100% owned uranium portfolio in Canada since staking its first four claims in mid-September. The company today announced it had […]
Power Metal investee identifies VTEM anomaly at Pickle Lake
Power Metal Resources plc’s investee has identified a significant multi-line electro-magnetic (EM) anomaly at the nickel-copper Pickle Lake project in the Schreiber-Hemlo belt, Ontario, Canada. JOINT VENTURE The project, formerly known as Pezim II, is a joint venture (JV) between First Class Metals Ltd and Palladium One. In September 2021, Power Metal sold its Schreiber-Hemlo […]