Power Metal Resources CEO says extensive exploration planned over 2021


Power Metal Resources PLC (LON:POW) said it has “extensive exploration planned in 2021” across its portfolio as the firm updated investors on the status of its operations.

The AIM-listed firm’s chief executive Paul Johnson said that many of the projects in the company’s portfolio are “targeting the discovery of large metal deposits with follow-on district scale potential”.

READ: Power Metal Resources initiates work programme on the Tati projects in Botswana

“The key drivers for our project acquisitions have been positioning and timing, taking strategic footholds before regional popularity strikes. As we have seen recently with our interests in the Kalahari Copper Belt Botswana, the Victoria Goldfields Australia and the Hemlo-Schreiber Greenstone Belt Canada, early positioning places the Power Metal business in an incredibly strong position”, he said.

“We have in the last year undertaken extensive exploration with some notable results including significant nickel sulphide intersections from drilling at Molopo Farms Complex Botswana and bonanza grade silver (up to 14,937 g/t silver) from channel sampling at Silver Peak Canada”, the CEO added.

“We have extensive exploration planned in 2021 including drilling across much of our portfolio. It is worth noting that many of our projects now sit on the cusp of potential discoveries. An exciting time for any junior resources company. Alongside exploration our corporate work continues at pace focused on the spin-out and IPO activities for certain project interests”, Johnson continued.

“In summation we are, in my view, bursting at the seams with discovery potential and crystallisable value and the balance of 2021 is the proving ground for this opinion”, he concluded.

Shares in Power Metal were 4% lower at 2.1p in late afternoon trading on Wednesday.


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