RCS - Power Metal - USGS Releases 2022 List of Critical Minerals

Power Metal ResourcesAnnouncement

25/02/2022 07:16

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RNS Number : 7827C  Power Metal Resources PLC  25 February 2022

25 February 2022

Power Metal Resources PLC

("Power Metal" or the "Company")

USGS Releases 2022 List of Critical Minerals

Power Metal Resources plc (LON:POW), the London listed exploration company
seeking large-scale metal discoveries across its global project portfolio
highlights the United States Geological Survey's ("USGS") 2022 List of
Critical Minerals which was published on February 22, 2022. The full
announcement can be found at the following link:

U.S. Geological Survey Releases 2022 List of Critical Minerals | U.S.
Geological Survey (usgs.gov)
(https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals)

 

The Critical Minerals list is published every three years and is determined
using modern scientific methods to evaluate mineral criticality. The new list
that was recently published contains 50 non-fuel mineral or mineral material
that that are considered essential to the economic or national security of the
United States of America ("USA") and which has a supply chain vulnerable to
disruption. Additionally, critical minerals are characterized as serving an
essential function in the manufacturing various critical products, the absence
of which would have significant consequences for the economy or national
security of the USA.

The notable changes from the 2018 list include the additional of nickel and
zinc, as well as the removal of helium, potash, rhenium and strontium.
Tungsten, lithium, cobalt, rare earth elements and platinum group metals all
retained their inclusion in the 2022 Critical Minerals list.

Power Metal's Exposure

-      Tungsten (W) was once again included on the USGS's Critical
Minerals list. The main uses can be viewed at the following link: Tungsten
Statistics and Information | U.S. Geological Survey (usgs.gov)
(https://www.usgs.gov/centers/national-minerals-information-center/tungsten-statistics-and-information)
. Power Metal, through its portfolio company Golden Metal Resources ("Golden
Metal") maintains significant exposure to the critical mineral through its
100% holding of the Pilot Mountain Project located in Nevada, USA. Pilot
Mountain hosts a robust Mineral Resource Estimate (MRE) of 12.53Mt at 0.27%
WO(3) with significant silver, copper and zinc credits. Golden Metal is
undertaking a planned listing on the London capital markets in 2022.

 

-      Power Metal also maintains significant global exploration exposure
to several other metals on the Critical Minerals list
including:

o  Lithium: Through its Authier North Property located in Quebec, Canada, as
well as its Haneti Project located in Tanzania.

o  Rare Earth Elements (REEs): Through its Ditau Property located in
Botswana, as well as its Selta Project located in the Northern Territory,
Australia, held through its portfolio company, First Development Resources
Limited.

o  Platinum Group Metals (PGMs): Through its Molopo Farms project located in
Botswana.

o  Nickel: Through its Tati and Molopo Farms projects located in Botswana, as
well as its Haneti Project located in Tanzania.

 

For further information and to view the new corporate presentation please
visit the newly launched website at: https://www.goldenmetalresources.com
(https://www.goldenmetalresources.com)

 

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 has exploration programmes completed or underway, with results
awaited, as outlined below:

 

 Project                                   Location   POW %            Work Completed or Underway                                                       Results Awaited

 Alamo Gold Project                        USA        Earn-in to 75%   Excavation of multiple test pits and mapping & sampling.                         Field and assay results from on-site work programme.
 Athabasca Uranium                         Canada     100%             Data compilation across uranium properties                                       Interpretation results from 5 of 7 properties.
 Authier North Lithium                     Canada     Earn-in to 100%  Soil & rock sampling completed                                                   Interpretation of laboratory assay results of samples collected defining next
                                                                                                                                                        exploration steps.
 Ditau Project                             Botswana   50%              Preparatory exploration work underway on target I10 leading to planned           Field programme findings and defined drill targets for near term drilling.
                                                                       accelerated drilling targeting rare-earth elements and base metals

 Kalahari Copper Belt                      Botswana   50%              Exploration programme underway across the South Ghanzi Project and further       Field programme findings and defined drill targets for near term drilling.
                                                                       exploration at the more recently acquired South Ghanzi Extension and Mamuno
                                                                       licence areas
 Molopo Farms                              Botswana   53%(A)           Kavango Option to acquire an interest in local project holding company.          Results from various work activities underway as part of the Kavango Option.
                                                                       Option fee payable through defined work programme
 Tati Gold/Nickel                          Botswana   100%             Reverse circulation drill programme completed                                    Laboratory assay results awaited.
 Haneti Project                            Tanzania   35%              Diamond drill programme completed                                                Laboratory assay results awaited.
 Selta Uranium Rare Earth Element Project  Australia  83.33%           Geological, geophysical and geochemical review across the project.               Findings of review including confirmation of key targets for next stage
                                                                                                                                                        exploration.
 Victoria Goldfields                       Australia  49.9%            Diamond drill programme underway                                                 Field updates and Laboratory assay results awaited.

 Paterson Projects                         Australia  83.33%           Wallal passive seismic and 2D seismic processing work programme completed.       Findings from multiple work programmes including final approvals and

                                                                                preparations for planned deep diamond drilling.
                                                                       Review of historical data and target generation for Ripon Hills & Braeside
                                                                       West projects

(A) should Kavango exercise their option to acquire Kalahari Key, Power Metal
interest would reduce to 40% of the Molopo Farms Complex project

 

 

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