3rd Feb 2021 14:56
Power Metal Resources PLC - metal exploration and development company - Says exploration begins on Red Rock Australasia Pty Ltd's first three licenses. RRAL is a joint venture company - with Red Rock Resources PLC owning 50.1% and Power Metal 49.9% - and on Tuesday announced the grant of three of its exploration licence applications in Central Victoria, Australia - EL007271, EL7281 and EL7285. RRAL is beginning work "immediately" on evaluating previously identified areas of interest within all tenements.
"As promised with the grant of licenses as announced yesterday RRAL have moved quickly to launch ground exploration," says Power Metal Resources Chief Executive Paul Johnson. "Given over 12 million ounces of mined gold in the Ballarat West and Ballarat East mining camp, we are particularly eager to expedite exploration as RRAL targets a major gold discovery in the Victoria Goldfields, Australia."
Power Metal current stock price: 2.66 pence
Year-to-date change: down 3.3%
Red Rock current stock price: 1.12p
Year-to-date change: up 7.1%
By Lucy Heming;Â [email protected]
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