Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Power Metal Resources has successfully completed its 2021 Phase I diamond drilling exploration programme on the Silver Peak Project located in British Columbia, Canada.
A total of 19 holes were completed as part of the Phase I programme and all cores are being logged, catalogued and split by independent geological consultants prior to being sent to ALS Canada Ltd in Vancouver, British Columbia, for accredited laboratory assay analysis.
Due to the steep terrain, the priority since the programme completion has been the safe removal of the team, equipment and drill cores from the Silver Peak Mountain; which were all completed successfully.
In addition, a new vehicle has been established "Silver Peak Resources Ltd" into which the Project claims are to be transferred in readiness for an anticipated public listing of the Project, or to enable the acquisition of the Project by a third party should there be interest in doing so.
Paul Johnson, CEO of Power Metal Resources plc, said: 'The Phase I drill programme, designed to test for frequency and extent of the high-grade silver mineralisation encountered in 2020, is a key step forward for the Silver Peak Project and we look forward to providing more technical information as well as assay results in respect of the drill programme in the coming weeks.
'Importantly the programme was conducted safely and the team have now moved equipment and drill cores off the mountain for catalogue, logging, and analysis. We are grateful to the field operational team for a well executed programme which was completed on-time, and on-budget.'