REG - Power Metal Res. - Block 8: Initial Ground Gravimetric Survey Results

Power Metal ResourcesAnnouncement

17/04/2025 07:00

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RNS Number : 3484F  Power Metal Resources PLC  17 April 2025

 

17 April 2025

Power Metal Resources PLC

("Power Metal" or the "Company")

Block 8 Oman: Initial Ground Gravimetric Survey Results

 

Power Metal Resources PLC (AIM: POW, OTCQB: POWMF), the London listed
exploration company with a global project portfolio, and its majority held
subsidiary Power Arabia Ltd ("Power Arabia"), is pleased to provide an update
on the gravimetry geophysical survey results and ongoing fieldwork at the
Block 8 exploration concession in Oman ("Block 8" or the "Project").

Highlights:

·    Gravimetry geophysics ("Gravity") survey conducted over Al Mansur
prospect area.

·    Gravity survey defined five named anomalies:

o  H1: The highest gravimetric anomaly with almost 0.7 milligal ("mGal") of
contrast and a north south orientation that may be associated with possible
massive sulphide mineralisation (the "H1 Target");

o  H2: May reflect lithological differences between L1 and L2;

o  I1: Elongated Bouguer anomaly identified with 150m of extension and 0.22
mGal of contrast;

o  L1: Amplitude of 0.7 mGal; and

o  L2: Amplitude of 0.4 mGal.

·    Extension of Gravity survey grid to the north commissioned to
delineate the full extent of the H1 Target.

·    A further 210 ionic leach samples taken over areas subject to
gravimetric survey work.

·    765 field locations have been visited for outcrop verification.

 

Block 8 is the subject of an Agreement for Power Metal to earn a 12.5% stake
in the Project held by ASX listed Alara Resources Limited ("Alara") and Awtad
Copper LLC ("Awtad Copper"). The exploration work, led and undertaken by the
Power Arabia technical team, commenced in October 2024 following the signing
of a formal and legally binding agreement on 25 October 2024.(1, 2)

The gravimetry geophysics method is used to measure gravitation field
variations which correspond to density changes and can be associated with
subsurface mineral deposits such as massive sulphide and geological structures
and intrusions.

Sean Wade, Chief Executive Officer of Power Metal Resources plc, commented:

"I am delighted to provide this exciting update from Power Arabia's flagship
project. These highly encouraging gravimetric survey results further
demonstrate the potential for Block 8 to deliver value to stakeholders and
shareholders.

"I look forward to providing further updates on the excellent progress being
made by the Power Arabia team across this licence area."

 

Gravity Survey

Power Arabia commissioned Oman based geological consultancy National Rocks to
conduct a Gravity survey over the Al Mansur prospect area as part of a larger
survey across the central zone of the Block 8 licence.  The survey, which
employed the use of a CG-5 Autograv Gravity Meter and a differential GPS at
214 survey stations on a NNE orientated 100 metres ("m") by 50m survey grid,
was conducted during February 2025 and was subsequently processed and outlined
in a report provided by National Rocks in late March 2025.

The survey was designed to follow up and aid target definition from copper
mineralisation identified by Alara historical rock chip sampling and Power
Arabia trenching work (assay sample results awaited). The survey was designed
to test the predicted location of mineralisation buried under transported
overburden along strike from the outcropping mineralisation located at surface
to the south.

The Gravity survey results have defined five named anomalies as depicted in
Figure 1 and Table 1. The H1 Target is a very strong north-south orientated
Residual Anomaly on the eastern side of the survey area, which may be
associated with potential volcanogenic massive sulphide ("VMS")
mineralisation.(4)

The H1 Target currently measures some 400m long and at least 10-15m wide and
is open along strike to the north. To the south it appears to be cut off by a
northwest southeast trending fault structure.

Figure 1: Residual Ground Gravimetric anomaly H1, Al Mansur Prospect, Block 8,
Oman

 

Table 1: Summary of Gravity Survey Anomalies (Shown in Figure 1), over Al
Mansur Prospect

 Anomaly  Summary                         Description                                                                      Next Steps
 H1       Highest Gravimetric Anomaly     Strongest anomaly in the survey area, with almost 0.7 mGal of contrast. The      Designated 'H1 Target', survey extended to north to delineate full extent
                                          north south orientation may be associated with possible massive sulphide
                                          mineralisation. The anomaly is cut-off to the south by an apparent geological
                                          fault structure, as indicated by the red dashed line in Figure 1.
 H2       Possible Lithological Contrast  This anomaly may reflect lithological differences between L1 and L2. In the      Ground truthing, field verification
                                          southern portion,

                                          there is a north south gravimetric feature; however, its amplitude is not high
                                          enough to be considered a massive ore body.
 I1       Intermediate Bouguer Anomaly    Values are close to the background, but an elongated Bouguer anomaly with 150m   Ground truthing, field verification
                                          of extension and 0.22 mGal of contrast is observed (as indicated by the narrow
                                          shape). Although the contrast value is low, it may indicate a disseminated
                                          mineralisation.
 L1       Low Gravity Anomaly             Amplitude of 0.7 mGal, interpreted to be associated with an intrusive suite.     Ground truthing, field verification
 L2       Low Gravity Anomaly             Amplitude of 0.4 mGal. Shape of anomaly indicates an intrusive or circular       Ground truthing, field verification
                                          geological feature. This anomaly does not correlate with any lithology on the
                                          current regional scale mapping.

 

Based on these initial results, Power Arabia has now commissioned Northern
Rocks to extend the Gravity Survey grid to the north in order to delineate the
full extent of the H1 Target. Power Arabia will also investigate the potential
for the H1 Target body to continue to the southeast due to fault structure
displacement.

A review of historic drilling data shows that previous holes, which did not
intercept any mineralisation, were located to the east of H1 Target and Power
Arabia are highly encouraged by this untested anomaly.

With the copper mineralisation identified in the trenches, combined with this
significant geophysical anomaly, Power Arabia is in the process of planning an
initial short diamond drilling programme over this target on formal renewal of
the Block 8 licence by the Ministry of Mines, Oman, hoped to be within the
coming weeks.

Power Arabia will provide further updates on receipt of a series of results
for stream sediment, ionic leach, trench and rock chip samples, and continues
to expand knowledge and target identification on Block 8.

Geological Fieldwork

The exploration fieldwork programme as outlined in the announcement of the 30
January 2025 continues at a pace with a further 210 ionic leach samples taken
over the areas currently subject to the gravimetric survey work, as well as
over interpreted structures and lithological contacts which are consistent
with mineralisation observed in other parts of the belt in Oman. Assay results
from the sampling are pending.

To date a total of 765 field locations within Block 8 have been visited for
outcrop verification by the team (see Figure 2 and Figure 3). All field data
is digitally captured using QField and QGIS mapping software. A total of 40
additional rock samples of both in-situ and float material, including three
QA/QC samples, two blanks and one laboratory accredited Certified Reference
Material sample, have been submitted to ALS for standard analysis.

Figure 2: Summary of Block 8 Exploration Work as of March 2025

 

Figure 3. Overview of Block 8 Geology, Structures and Initial Rock Chip
Results

Figure Note: See Company announcement: Block 8 Oman: Exploration Update, dated
30 January 2025(3) for rock chip assay results.

 

Figure 4. Block 8 Al Mansur Prospect Gravimetric Survey Plan over Historical
Magnetic RTP Geophysics Image

Power Arabia is currently awaiting further laboratory assay results and looks
forward to providing further updates on the next stage of planned work once
results become available.

 

REFERENCES

1:            Company announcement, Non-binding Heads of Terms
signed with Alara Resources & Awtad Copper, dated 25 October 2024

                (
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xpd67mx
(https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xpd67mx)
).

2:            Company announcement, Agreement with Alara Resources
& Awtad Copper, dated 25 October 2024

(
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/rd8z59w
(https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/rd8z59w)
).

3:            Company announcement, Block 8 Oman: Exploration
Update, dated 30 January 2025

(
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xl4lmpr
(https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xl4lmpr)
).

4:            Volcanic-associated or VMS deposits range from lens
shaped to sheet-like bodies of sulphide-mineral-rich rock spatially associated
with volcanic rocks ranging in composition from basalt to rhyolite. VMS
deposits can be divided into three general categories: Cyprus-type; Kuroko
type; and Besshi-type. Cyprus-type deposits tend to be small, medium-grade
deposits rich in copper and zinc. They are generally lens or mound shaped
accumulations of massive pyrite developed in ophiolite-related, extrusive
basalt sequences. They are typically underlain by copper-rich "stringer-zones"
composed of anastomosing quartz-sulphide mineral veins in extensively
chloritised basalt.

( https://pubs.usgs.gov/of/1995/ofr-95-0831/CHAP16.pdf
(https://pubs.usgs.gov/of/1995/ofr-95-0831/CHAP16.pdf) )

 

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been read and
approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a
qualified geologist and acts as the Qualified Person under the AIM Rules -
Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal
consultant working for Mining Analyst Consulting Ltd which has been retained
by Power Metal Resources PLC to provide technical support.

 

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

 Power Metal Resources plc
 Sean Wade (Chief Executive Officer)                                             +44 (0) 20 3778 1396

 SP Angel Corporate Finance LLP (Nomad and Joint Broker)
 Ewan Leggat/Jen Clarke                                                          +44 (0) 20 3470 0470

 Tamesis Partners LLP (Joint Broker)
 Richard Greenfield/Charlie Bendon                                               +44 (0) 20 3882 2868

 BlytheRay (PR Advisors)

 Tim Blythe/Megan Ray/Alastair Roberts                                           +44 (0) 20 7138 3204

 

NOTES TO EDITORS

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-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, Saudi Arabia 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.

 

 

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