RCS - Power Metal - Katoro Gold Update – Haneti Nickel Project

Power Metal ResourcesAnnouncement

08/11/2021 10:25

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211108:nRSH6504Ra&default-theme=true

RNS Number : 6504R  Power Metal Resources PLC  08 November 2021

8 November 2021

Power Metal Resources PLC

("Power Metal" or the "Company")

Katoro Gold Update - Haneti Nickel Project

 

Power Metal Resources PLC (LON:POW) the London listed exploration company
seeking large-scale metal discoveries across its global project
portfolio, draws investors' attention to the announcement issued today by
Katoro Gold plc (LON: KAT)("Katoro Gold")("Katoro").

The Katoro announcement may be viewed through the following link:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/wklg9dx
(https://polaris.brighterir.com/public/katoro_gold/news/rns/story/wklg9dx)

Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:

"Power Metal is eager to see drilling commence at the Haneti Project targeting
a large scale nickel and platinum group element (PGE) discovery.  The Company
is therefore pleased to see our partner Katoro Gold raise money for this
purpose.

We look forward to further announcements with regard to the planned drill
programme and are working with Katoro in this regard."

POWER METAL - HOLDING IN KATORO

Power Metal Resources currently holds 10,000,000 Katoro shares and 10,000,000
warrants in Katoro Gold exercisable at 1.25p  (2,500,000 warrants expiring
on 15 March 2022 and 7,500,000 warrants expiring on 15 May 2022).

POW also has a direct 35% interest in the Haneti Project in Tanzania.

 

For further information please visit https://www.powermetalresources.com/
(https://www.powermetalresources.com/) or contact:

 Power Metal Resources plc
 Paul Johnson (Chief Executive Officer)                                          +44 (0) 7766 465 617

 SP Angel Corporate Finance (Nomad and Joint Broker)
 Ewan Leggat/Charlie Bouverat                                                    +44 (0) 20 3470 0470

 SI Capital Limited (Joint Broker)
 Nick Emerson                                                                    +44 (0) 1483 413 500

 First Equity Limited (Joint Broker)
 David Cockbill/Jason Robertson                                                  +44 (0) 20 7330 1883

 

 

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration
company which finances and manages global resource projects and is seeking
large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale
potential across a global portfolio including precious, base and strategic
metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage
prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint
ventures until a project becomes ready for disposal through outright sale or
separate listing on a recognised stock exchange thereby crystallising the
value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the
Company's growth or may be returned to shareholders through share buy backs,
dividends or in-specie distributions of assets.

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal now has the following exploration completed with results awaited
or exploration underway:

-      Silver Peak Project (Canada) - diamond drill programme completed
targeting high-grade silver (laboratory assay results awaited)

 

-      Authier North Lithium Project (Canada) - soil & rock sampling
completed (laboratory assay results awaited)

 

-      Athabasca Uranium (Canada) - Phase I exploration completed and
field results positive, targeting uranium (laboratory assay testing of samples
collected awaited)

 

-      Tati Gold/Nickel Project (Botswana) - reverse circulation drilling
completed (field results, together laboratory assay results awaited)

 

-      Molopo Farms Complex (Botswana) - further samples being tested for
nickel sulphide and platinum group elements ("PGEs") from diamond drill
programme completed (laboratory assay results awaited)

 

-      Ditau Project (Botswana) - preparatory exploration work underway
on target I10 leading to planned accelerated drilling targeting rare earth
elements and base metals

 

-      Kalahari Copper Belt (Botswana) - results from ongoing exploration
across the South Ghanzi Project and further exploration at the more recently
acquired South Ghanzi Extension and Mamuno licence areas

 

-      Wallal Gold/Copper Project (Australia) - geophysics results from
2D seismic processing and passive seismic awaited

 

-      Victoria Goldfields (Australia) - results from ongoing exploration
across 848km(2) of granted exploration licences

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFSAFSAEFSEFF