Australia

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The strategic move into Australian gold exploration is an important step for POW, complementing our African base metal interests and providing portfolio diversification by commodity and jurisdiction.

Australian gold exploration and development projects are attracting considerable interest, especially in the Victorian goldfields following the remarkable discoveries at depth at the Fosterville mine, where in Q1 2020 Kirkland Lake produced 159,864 oz Au at 42.4g/t.

Historic mining in the Victoria Goldfields has been alluvial or at shallow depths and they have been underexplored in modern times. Through a joint venture with Red Rock Australasia Pty Ltd (“RRAL”), we have lodged applications for the following exploration licences in Victoria.

License Application Number Project Name Area (sq km)
EL007271 Blue Whale 133
EL007281 Blue Chip 74
EL007282 Blue Sky 489
EL007285 Blue Ribbon 8
EL007294 Red Queen 130
EL007301 Mt Bute 85
EL007327 Blue Stocking 60
EL007328 Blue Yonder 168
EL007329 Evergreen 486
EL007330 Blue Angel 202
Total   1,835

All license application areas have extensive evidence of gold mineralisation and in many cases recorded production and historical drilling. Analysis of historical exploration and geophysical data continues, and further updates will be provided in due course.

Summary

Project: Red Rock Australasia

Target metals: Gold

Objective: Discovery

Status: Active | Licence applications covering 1,835 sq km submitted in Victoria Goldfields

 
 
 

Power Metal Resources plc
201 Temple Chambers
3-7 Temple Avenue
London EC4Y 0DT
United Kingdom

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