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:
“After many months of background work and a recent acceleration of effort POW shareholders now have exposure to a strategic gold JV of substance, positioned in the heart of the Victoria Goldfields.
With the new license applications announced today the JV has achieved critical mass in Victoria with a broad spread of targets through which it is looking to bring brownfields projects back into production and the discovery of new mines.
I look forward to the coming weeks and months, when we will be providing further information to the market outlining the prospectivity of each project within the JV portfolio.”
|License Application Number||Project Name||Area (sq km)|
Readers wishing to view the current application footprint may do so through the following link to the POW website: www.powermetalresources.com/p/204/rrraustralasia-gold-project-footprint
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
19 May 2020