Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce an update from its Australian gold joint venture (“JV”) company Red Rock Australasia Pty Ltd (“RRAL”) in which POW has a 49.9% interest.
Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:
“Our strategic move into Australian gold exploration is building momentum very rapidly and with the focus on the Victoria Goldfields we are targeting one of the gold districts most sought after by exploration companies.
The announcement today of further license applications increasing the JV’s application footprint to over 700 sq km is a major step forward and we continue to apply considerable effort to develop this JV opportunity.
The historic data we have examined so far clearly demonstrates extensive evidence of gold mineralisation across the license applications and presents POW, through RRAL the JV company, a unique and exciting opportunity to undertake proactive and targeted exploration.”
Readers wishing to view the current application footprint may do so through the following link to the POW website: https://www.powermetalresources.com/s/52/australia
4 May 2020