Power Metal Resources PLC (AIM:POW) told investors that the Phase 1 work programme in the Athabasca Basin, northern Saskatchewan, Canada, is now complete.
A sampling programme obtained rocks for analysis at a lab, in Saskatoon, which will subject the material to a uranium-exploration analytical package which includes uranium, various base/trace-metals, as well as a suite of rare-earth elements.
The initial phase of exploration also involved the use of a handheld gamma-ray survey device which assessed outcrops and took on-site readings. Additional areas of interest were meanwhile staked to provide coverage over several uranium-rich lakes surrounding the Company’s Tait Hill uranium property.
“Power Metal has embarked on a campaign to build significant uranium portfolio exposure for our investors,” said chief executive Paul Johnson. “We started this campaign several months ago with the initial staking of our land package surrounding the prolific Athabasca Basin located in Northern Saskatchewan, and continue to build our uranium exploration project portfolio there, as you will see with the new ground secured today.
“Field observations from Phase I exploration are encouraging and we look forward to the receipt of assay results which are being expedited as rush assays, as we are eager to get the results back quickly. More work is being done to review additional uranium opportunities and we are optimistic of success in this regard.”