29th Dec 2020 20:34
Power Metal Resources PLC- metal exploration and development company - Successfully delineates very high grade silver at its Silver Peak project in British Columbia, Canada despite a drill campaign curtailed by "severely challenging weather conditions". Drill hole SP2020-01 intersects a rubbly vein zone between 1.52 metres to 1.83 metres which assayed 0.31 metres at 5,270 grams of silver per tonne of ore, or 169.5 troy ounces per tonne. Power Metal says this is "very encouraging given it confirms high silver grades occur in the Victoria Vein system over at least 150 metres of vertical extent."
Chief Executive Paul Johnson: "We are working with our partners to finalise the next stage ground operations, including the above diamond drilling, which we expect will commence following the Spring thaw around March/April. We will communicate the updated exploration plan early in the new year."
Current stock price: 2.72 pence; up 8.8% on Tuesday
Year-to-date change: up sharply from 0.38p
By Anna Farley; [email protected]
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