TIDMPOW
Power Metal Resources PLC
08 November 2021
8 November 2021
Power Metal Resources PLC
("Power Metal" or the "Company")
Katoro Gold Update - Haneti Nickel Project
Power Metal Resources PLC (LON:POW) the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio, draws investors' attention to the
announcement issued today by Katoro Gold plc (LON: KAT)("Katoro
Gold")("Katoro").
The Katoro announcement may be viewed through the following
link:
https://polaris.brighterir.com/public/katoro_gold/news/rns/story/wklg9dx
Paul Johnson, Chief Executive Officer of Power Metal Resources
plc commented:
"Power Metal is eager to see drilling commence at the Haneti
Project targeting a large scale nickel and platinum group element
(PGE) discovery. The Company is therefore pleased to see our
partner Katoro Gold raise money for this purpose.
We look forward to further announcements with regard to the
planned drill programme and are working with Katoro in this
regard."
POWER METAL - HOLDING IN KATORO
Power Metal Resources currently holds 10,000,000 Katoro shares
and 10,000,000 warrants in Katoro Gold exercisable at 1.25p
(2,500,000 warrants expiring on 15 March 2022 and 7,500,000
warrants expiring on 15 May 2022).
POW also has a direct 35% interest in the Haneti Project in
Tanzania.
For further information please visit
https://www.powermetalresources.com/ or contact:
Power Metal Resources plc
Paul Johnson (Chief Executive Officer) +44 (0) 7766 465 617
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson +44 (0) 1483 413 500
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson +44 (0) 20 7330 1883
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (LON:POW) is an AIM listed metals
exploration company which finances and manages global resource
projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering
district scale potential across a global portfolio including
precious, base and strategic metal exploration in North America,
Africa and Australia.
Project interests range from early-stage greenfield exploration
to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through
strategic joint ventures until a project becomes ready for disposal
through outright sale or separate listing on a recognised stock
exchange thereby crystallising the value generated from our
internal exploration and development work.
Value generated through disposals will be deployed internally to
drive the Company's growth or may be returned to shareholders
through share buy backs, dividends or in-specie distributions of
assets.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal now has the following exploration completed with
results awaited or exploration underway:
- Silver Peak Project (Canada) - diamond drill programme
completed targeting high-grade silver (laboratory assay results
awaited)
- Authier North Lithium Project (Canada) - soil & rock
sampling completed (laboratory assay results awaited)
- Athabasca Uranium (Canada) - Phase I exploration completed and
field results positive, targeting uranium (laboratory assay testing
of samples collected awaited)
- Tati Gold/Nickel Project (Botswana) - reverse circulation
drilling completed (field results, together laboratory assay
results awaited)
- Molopo Farms Complex (Botswana) - further samples being tested
for nickel sulphide and platinum group elements ("PGEs") from
diamond drill programme completed (laboratory assay results
awaited)
- Ditau Project (Botswana) - preparatory exploration work
underway on target I10 leading to planned accelerated drilling
targeting rare earth elements and base metals
- Kalahari Copper Belt (Botswana) - results from ongoing
exploration across the South Ghanzi Project and further exploration
at the more recently acquired South Ghanzi Extension and Mamuno
licence areas
- Wallal Gold/Copper Project (Australia) - geophysics results
from 2D seismic processing and passive seismic awaited
- Victoria Goldfields (Australia) - results from ongoing
exploration across 848km(2) of granted exploration licences
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END
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