Power Metal Resources, through its subsidiary Regent Resources Interests Corp. (“RRIC”) has entered into an agreement to earn into 70% of the Lizetta II chrome, nickel, cobalt exploration licence (“Lizetta-II”) in Ivory Coast by expending a total of USD 850,000 on the project over the period to June 2021.
Lizetta-II is located 77 km NW of Bouake, which is 342 km north of Abidjan, the commercial capital of Ivory Coast, and covers approximately 380 sq. km. Local infrastructure includes road access, the proximity of major river creeks and electric networks sufficient for any industrial operations on the property. Historical data shows anomalous concentrations of nickel, cobalt and chromite mineralisation in the ultramafic rocks of the Marabadiassa-Alekro area.
An independent assessment commissioned by RRIC confirmed the potential to host cobalt, nickel and chrome mineralisation of economic potential and proposed an initial field programme consisting of historical data compilation, geological mapping, geophysical surveys, trenching and RC drilling.
The proposed follow-up phase would be extensive drilling to allow the definition of a JORC/NI 43-101 code compliant resource.
Project: Lizetta II
Target metals: Nickel - Cobalt - Chrome
Status: Review | Project under review as part of POW strategic and operational review