14th Jan 2022 09:42
(Alliance News) - Power Metal Resources announced on Friday that it had completed data compilation across its uranium portfolio around the Athabasca basin in Saskatchewan, Canada.
The London-based metals exploration company with projects focused in Africa, Australia and North America said that, following the compilation, it now possesses a "robust" fully digitised database covering all historic work programmes completed across the various properties.
Power Metal added that the data, combined with the results obtained from the recently completed phase one work programme, will allow it to begin planning various 2022 exploration initiatives across its portfolio.
At its Tait Hill property, also in the Athabasca basin, several zones of uranium-rich mineralisation were identified in the historic results, including uranium in soil samples up to 14,358 parts per million.
Chief Executive Paul Johnson said: "Our move into uranium exploration has been planned for some time and commenced with the September 2021 staking surrounding the Athabasca basin. The staking undertaken was highly selective, focusing on areas where historical recorded work had demonstrated uranium mineralisation or where other geological features suggested that ground would be prospective."
Shares Power Metal were up 1.6% at 1.60 pence on Friday morning in London.
By Heather Rydings; [email protected]
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