REG - Power Metal Res. - Uranium Joint Venture: Perch River Update
01/05/2026 07:01
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RNS Number : 6837C Power Metal Resources PLC 01 May 2026
1 May 2026
Power Metal Resources PLC
("Power Metal" or the "Company")
Uranium Joint Venture
Fermi Exploration: Fertile Structure for Uranium Mineralisation Delineated on
the Perch River Property
Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is pleased to announce
supplementary drill core sampling results from the Perch River Uranium
Property in the Athabasca Basin, Saskatchewan. The Perch River Uranium
Property ("Perch River" or the "Property") is held under Power Metal's
uranium-focused joint venture with Fermi Exploration Ltd ("Fermi").
Following a combined geochemical and mineralogical review of results, from
additional drill core samples collected from within the Rapids Fault Structure
at Perch River, the Company considers the Rapids Fault Structure to be
"fertile" with scope for significant uranium mineralisation at depth. This
technical release provides an overview of the rationale behind the
interpretation. The supplementary drill core samples, collected during
December 2025, were selected from holes drilled in Fermi's June-July 2025
Perch River programme.
HIGHLIGHTS:
· Supplementary sampling of drill core from the Rapids Fault Structure
at Perch River has confirmed a geochemically and mineralogically fertile
environment for unconformity-related uranium deposits, evidenced by the
presence of sudoite, hydrothermal tourmaline and dolomite within the Rapids
Fault Structure.
· Drillhole PR25-01 returned boron levels of 779 ppm (parts per
million), a critical pathfinder often associated with primary uranium
mineralisation within a 100-metre proximity.
· Geochemical analysis confirmed the previously anomalous lead isotope
results - such results serve as a direct proxy for significant uranium decay
and are spread along a strike of at least 400m along the Rapids Fault
Structure.
· The technical team concludes that the 2025 drilling intersected the
distal, upper extent of the system. The convergence of high-temperature
sudoite alteration, hydrothermal tourmaline and radiogenic lead suggests the
hydrothermal core, which may contain an uranium deposit, remains untested at
greater depths.
Sean Wade, Chief Executive Officer of Power Metal Resources PLC commented:
"These supplementary results fundamentally upgrade the prospectivity of the
Perch River property. While our 2025 drill programme did not intersect primary
uranium, the identification of classic near-miss indicators, confirms we have
successfully drilled into the upper halo of a potentially fertile hydrothermal
system. Crucially, the highly anomalous radiogenic lead acts as a direct
vector, giving our technical team clear justification for potentially
high-grade core at greater depths. This data transforms Perch River into our
highest priority target for follow up drilling"
OVERVIEW
The Rapids Fault Structure on the Perch River Uranium property was drilled in
2025, at the time of the drill programme's completion, despite promising
geology, no uranium was intersected and the programme was terminated. Routine
analysis of the collected samples indicated the presence of a highly anomalous
206/204 lead isotope ratio (²⁰⁶Pb/²⁰⁴Pb), a geochemical proxy for
uranium mineralisation, alongside positive mineralogical results. As such,
additional drill core sampling was completed to better understand the Rapid
Fault Structure's prospectivity and scope to host uranium mineralisation.
The results from the sampling indicate the Rapids Fault Structure to be
mineralogically and geochemically fertile for the generation and hosting of
unconformity-related uranium deposits, demonstrated by the presence of
sudoite, dolomite and tourmaline - with associated geochemical anomalies,
within the fault structure.
Fermi's Technical team considers that the 2025 drilling intersected the
distal, upper extent of the system, with the high-temperature hydrothermal
core, and potential uranium mineralisation inferred to exist at greater
depths.
FURTHER INFORMATION
Background
Between June and July 2025, a six-hole, 1,563m NQ diameter (47.6 mm core)
diamond core drilling programme (Table 1, Figure 1) centred on the Rapids
Fault Structure was completed at the Perch River Property. The Rapids Fault
Structure is a circa 650 m long, east-west trending, subvertical inferred
fault/alteration system. Soil sampling during 2024 had identified coincident
anomalous uranium, lead isotopes and other elements associated with
unconformity-related mineralisation, above the Rapids Fault Structure, as
detailed in the following release:
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/ryn9qkw
(https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/ryn9qkw)
Following the July 2025 drill programme, routine geochemical analysis
indicated the presence of a up to 242.8 (²⁰⁶Pb/²⁰⁴Pb) and 0.15
(²⁰⁷Pb/²⁰⁶Pb) from within the Rapids Fault Structure, this strong
radiometric lead signature was inferred to potentially be related to uranium
mineralisation at depth along the Rapids Fault Structure, as discussed in this
release:
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xpk13mr
(https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xpk13mr)
The routine sampling completed during the drill programme in June-July 2025
was coarse, composed of composite samples, and greater sampling resolution and
density, alongside additional testing was required to better establish the
Rapids Fault Structure's prospectivity. This sampling was completed in
December 2025, for which the results are presented herein.
Rapids Fault System
The Rapids Fault Structure is an east-west-trending subvertical apparent shear
zone, located to the east, and likely related to the north-south-trending Font
du Lac Fault , which crosses the centre of the Perch River Property. The fault
structure introduces significant structural complexity to the Perch River
Property, and prior to 2025, it had never received tested.
The system was identified through an airborne magnetic survey as a structure
of interest following the anomalous soil and radon gas geochemical data
overlying it. The fault system itself, and its dip were delineated through an
Ambient Noise Tomography ("ANT") geophysical survey. The fault structure runs
eastward for an apparent 650 m from the Font du Lac Fault in the west, with a
secondary, unnamed, and wholly untested fault structure to the west of the
Font du Lac Fault extending for over 4km, with magnetic characteristics
similar to those of the Rapids Fault Structure. Based on ANT data, the
Rapids Fault System may extend below the unconformity down to 1km (1.2km below
ground level) or more.
The Rapids Fault Structure lacks the traditional graphite, which is spatially
related to the majority of large uranium deposits in the Athabasca Basin(1).
As inferred from the ANT data, the intersection of the Rapids Fault System
with the unconformity presents an area of complex palaeotopography. Such
structural and topographic features have been widely documented as favourable
sites for the generation of uranium deposits due to their capacity to focus
and control hydrothermal fluid circulation at the unconformity(2).
Notes: Drill collars & trace of the 2025 drilling shown with the location
of the highly anomalous (206)Pb/(204)Pb (207)Pb/(206)Pb ratio results. Major
local faulting, and the extent of the Rapids Zone, an area of highly anomalous
geochemistry in soils determined through fieldwork in 2024 is also marked. No
soil or radon sampling was carried out above the PR25-04A collar location; as
such, geochemical anomalies could exist in this area.
Figure 1: Drill Programme Hole Location and Downhole Traces with Surface
Expression of the Rapids Fault System
Sampling Programme
The supplementary drill core sampling was designed to increase sample density
and provide material for a detailed petrological review, thereby refining the
understanding of the Rapids Fault Structure in advance of future exploration
on the property. The sampled intervals included areas which had tested
elevated or anomalous readings for (206/204) Pb Ratio, Phosphorus and Uranium.
This sampling acts to supersede the composite sampling, which was performed
during the drilling on Perch River, and has increased the sampling density on
the interval of interest by over ten times.
A total of 91 samples were collected from PR25_04A, eight samples from PR25_01
and six samples from PR25_05. These 105 samples were analysed for a full
(partial and total leach) chemical suite by SRC GeoAnalytical labs, and Short
Wave Infrared ("SWIR") spectroscopy by Axiom Exploration Group, Saskatoon.
Petrographic analysis was carried out on ten samples, one from PR25_01, eight
from PR25_04A and one from PR25_05 at Saint Mary's University, Halifax.
Summary of Unconformity Related Uranium Deposits
Unconformity-associated uranium deposits form via a reduction-oxidation
(redox) reaction, where the mixing of oxidising, uranium-bearing fluids and
reducing fluids causes uranium to precipitate. These deposits represent the
final stage of prolonged hydrothermal activity, leaving a permanent
mineralogical and geochemical alteration signature in the surrounding host
rocks.
When highly reactive, metal-carrying brines move through a fault, they act to
"cook" the surrounding hard rock, eating away the original hard minerals (like
feldspar) and replacing them with soft clays. Through this process, results
the almost total destruction of the original rock into illite and kaolinite
clays. In both mineralised and unmineralised systems a mineral called sudoite
(Al-Mg di-trioctahedral chlorite) was formed. Sudoite only forms when highly
oxidising, magnesium-rich brines have been present in those rocks, as such,
seeing massive sudoite and illite replacement is a positive sign for the
fertility of an area(1 3).
Also critical is the identification of an oxidation front, where the reducing
fluids meet the uraniferous oxidising fluids. Where these fluids meet, the
uranium is reduced from the oxidised fluids, which causes it to drop out of
solution. This process generates much of the world-class uranium
mineralisation found within the Athabasca Basin.
Although termed "unconformity-related uranium deposits", multiple deposits are
found at a variety of depths below the unconformity(1). World-class deposits
such as Arrow and Triple R are found at 100-800m and 50-300 m below the
unconformity, respectively(4). Furthermore, deposits outside the Athabasca
Basin, such as ACKIO(5), highlight the scope for deep, basement-hosted uranium
mineralisation.
Results: Mineralogical Review
The integration of SWIR analysis, thin-section petrography and geochemical
analysis has provided a comprehensive understanding of the fluid history, and
the potential fertility within the Rapids Fault Structure.
The dominant alteration mineral in the Rapids Fault Structure is white mica,
which SWIR data confirms is moderately to highly phengitic; the shift towards
a phengitic composition of the white mica infers a direct interaction with
magnesium-iron-rich basinal brines - those brines are a crucial part of the
generation of unconformity-related uranium deposits(1).
Sudoite (a magnesium-aluminium chlorite) was identified deep within the fault
structure in PR25-04A, between 375 m and 395 m downhole. This mineral
typically dominates the innermost alteration core of unconformity-related
uranium deposits(1 6), indicating high temperatures and extreme fluid-to-rock
ratios. Sudoite also correlates spatially with the highest radiogenic lead and
uranium values.
Drillhole PR25-001 returned significantly elevated boron levels, peaking at
779 ppm (Table 2). This concentration equates to approximately 2.2%
hydrothermal tourmaline by volume. In the context of Athabasca basement
geology, boron values exceeding 500 ppm are considered a high-priority
"near-miss" indicator, typically associated with uranium mineralisation in
very close proximity-often within 100 metres(7).
Hydrothermal tourmaline is a critical component of Athabascan uranium systems;
in the basement, it serves as a highly regarded pathfinder and an expansive
distal vector towards the primary fluid conduit. Of particular note is the
intense sodium Na(2)O depletion observed in the geochemical data. While not
yet confirmed via thin section, this chemical signature implies the tourmaline
may be alkali-deficient magnesiofoitite. This specific mineral species is
significant as it shares a direct temporal and genetic relationship with the
primary uranium mineralising event elsewhere in the Athabasca Basin (8,
9).
Alongside the sudoite, late-stage hydrothermal dolomite is observed as
fracture infill. This carbonate phase is inferred elsewhere in the basin to
represent the neutralisation of acidic, uraniferous basinal brines as they
migrate through structural conduits(10). The precipitation of carbonate is
thermodynamically linked to temperature shifts and fluid neutralisation that
drastically decrease the stability of uranium within the hydrothermal fluids,
driving primary uranium mineralisation(11). When coincident with pathfinder
elements such as nickel, arsenic, and uranium, these carbonates serve as a
diagnostic signal of a fertile hydrothermal conduit(1) (12).
Within the Rapids Fault Structure, specifically at a downhole depth of 327.8 m
(308 m True Depth "TD") in PR25-004A, this "diagnostic" lithogeochemical
relationship may be demonstrated; elevated calcium (7.01 wt %) is associated
with anomalous nickel (63.9 ppm), and elevated (85(th) percentile) arsenic
(0.67 ppm), indicating the potential fertility of the Rapids Fault
Structure.
Drillhole PR25-05, located 500 m to the east of PR25-01, and 760 m east of
PRE25-04A, also along the Rapids Fault Structure, was also sampled between
230-238.2 m downhole (201.2-208.3 m TD) and did not yield a fertile
mineralogical or geochemical signature.
Results: Lead Isotopes Review
The Rapid Fault Structure Lead isotopic signature remains highly indicative of
nearby uranium mineralisation, as demonstrated by:
· In drillhole PR25-04A, highly anomalous lead isotope ratios were
isolated at downhole depth intervals between 307.8 to 312.7 metres
(289.2-293.8 m TD) and 384 to 394.8 metres (360.8-370.2 m TD).
· The deeper intersection in PR25-04A (375 to 395 metres; 352-371 m TD)
yielded the highest radiogenic lead values (²⁰⁶Pb/²⁰⁴Pb > 100),
which coincide directly with both sudoite alteration and the highest recorded
uranium values of 130 ppm.
· In drillhole PR25-01, a specific anomalous ²⁰⁶Pb/²⁰⁴Pb peak
was identified at 198.9 metres downhole (140.6 m TD), this indicates that the
highly anomalous lead isotopes are not localised within one drillhole, but are
spread along strike at least 400m .
· This peak value in PR25-01 at 198.9 metres downhole is spatially
coincident with elevated boron results (up to 779 ppm B) derived from
hydrothermal tourmaline. This relationship is critical, as boron is present in
tourmaline, which is inferred from elsewhere to be syn-U mineralisation.
Lead isotope data from the sampled intervals is summarised in Table 2.
Inferred Geological Model
The results from the 2025 sampling programme indicate that drillhole PR25-01
intersected the upper, illite and boron-rich (dravite) distal extent of the
hydrothermal alteration system. In contrast, PR25-04A reached a lower
structural level characterised by sudoite and illite dominance, which
typically signifies closer proximity to the high-temperature hydrothermal core
of the system.
The integration of lead isotope, geochemical, and mineralogical
data-specifically the pathfinder associations of boron, nickel, arsenic, and
copper-demonstrates that the Rapids Fault Structure has a high potential as a
fertile mineralising structure. Fermi's Technical Team infers that the 2025
drilling was completed at depths too shallow to intercept the primary
unconformity-style mineralisation. Consequently, significant potential for a
major uranium discovery remains at greater depths along the fault structure.
TECHNICAL DETAILS
Drillhole Locations
Table 1: Drillhole Details on the Perch River Property
Drillhole ID Longitude Latitude Elevation (m) Azimuth Dip Downhole Depth
(degrees) (degrees) (m)
PR25-001 508356 6552606 347 162 -45 377
PR25-002 508356 6552606 230 - -90 (vertical) 230
PR25-003 508377 6552566 203 141 -84 203
PR25-004 508830 6552760 389 317 -60 119
PR25-004A 508214 6552325 239 318 -70 395
PR25-005 508830 6552760 347 143 -61 239
Table Notes: Grid references stated in UTM Zone 13N NAD83 datum. NQ (47.6mm)
core diameter.
Technical Background - Lead Isotope Results
Lead 206 ("(206)Pb") is an isotope of lead that is derived from the
radioactive decay of uranium, while lead 204 ("(204)Pb") is the isotope of
lead that was derived from cosmogenic sources (i.e. supernova collapse).
Isotope (204)Pb remains a constant within geological systems. By comparing the
values of both isotopes in a sample, it is possible to determine what
proportion of lead was derived from uranium.
There are five stable isotopes of lead, and lead-207 is also relevant when
assessing the suitability of an area for Paleoproterozoic-Mesoproterozoic
unconformity-related uranium deposits(1)-the style of mineralisation targeted
by Fermi within the Athabasca Basin. Such mineralisation typically exhibits
low (207)Pb/(206)Pb ratios, reflecting both the initial ratio of the two
uranium parent isotopes (²³⁵U/²³⁸U) and the shorter half-life of
²³⁵U relative to ²³⁸U. This distinctive isotopic fingerprint, when
compared with the barren sandstones of the Athabasca and analogous basins, has
led to the use of (207)Pb/(206)Pb-alongside (206)Pb/(204)Pb-as a potential
geochemical vector toward unconformity-related uranium mineralisation.
Typically, the background (206)Pb/(204)Pb ratio is between 18 and 19; results
between 20 and 30 suggest an input from radiogenic decay, and results over 40
suggest strongly radiogenic decay with a direct association with uranium(13).
A (206)Pb/(204)Pb ratio of 100 or greater is comparatively rare, and has been
found associated with mineralisation in similar geological settings as the
Athabasca Basin(3). For (207)Pb/(206)Pb, a ratio of below 0.75 is considered
background, between 0.75 and 0.4 to be anomalous, 0.4 to 0.2 to be strongly
anomalous, and <0.2 to be highly anomalous, and previously located within
mineralised zones.
Lead and uranium display distinct geochemical behaviours under varying
geological conditions. Whereas uranium can be readily mobilised as soluble
uranyl complexes, lead typically remains fixed or undergoes limited
redistribution. Consequently, the distribution of lead-particularly radiogenic
Pb derived from uranium decay-can serve as a secondary vector to uranium
mineralisation.
Technical Background - Short Wave Infrared and Mineralogical Review
Short-Wave Infrared (SWIR) spectroscopy is a widely utilised analytical
technique in the exploration of unconformity-related uranium deposits. During
hydrothermal alteration-the process that forms these deposits-highly reactive,
high-temperature, magnesium-rich brines interact with the surrounding host
rocks. This interaction breaks down original hard minerals and replaces them
with complex, fine-grained clay minerals.
Because these alteration clays are typically microscopic and visually
indistinguishable in drill core which contains a high proportion of silica,
making other methods (such as X-Ray Diffraction) ineffective, SWIR
spectroscopy is employed to accurately map them alongside traditional
petrographic work. The technology measures light reflected off a rock sample,
creating a unique spectral fingerprint based on molecular bonds at specific
wavelengths between 450 nm (visible light) to 3,500 nm. By analysing these
fingerprints, petrologists can track subtle chemical changes that act as
vectors toward a mineralised core.
As noted above, the dominant alteration mineral identified within the Rapids
Fault Structure is white mica, comprising up to 90% of the assemblage in
multiple intervals (e.g., 309.4 m, 325.2 m, 371.0 m). However, the composition
of this white mica is not uniform and provides crucial vectoring data. In the
Athabasca Basin, normal, potassium-rich "diagenetic" illite forms prior to any
mineralisation and typically exhibits an Al-OH absorption feature at roughly
2200 to 2205 nm.
When high-temperature basinal brines interact with this background illite,
magnesium and iron substitute for aluminium, altering the mineral into
phengitic illite. This substitution causes the SWIR absorption feature to
shift to longer wavelengths as the introduction of the larger magnesium ion
"stretches" the Al-OH bonds in the crystal lattice, causing them to absorb
slightly different wavelengths. In drillhole PR25-04A, the Al-OH wavelength
values in highly radiogenic zones (e.g., 384.4 m, 388.5 m) are consistently
between 2211 nm and 2221 nm, confirming that the white mica is moderately to
highly phengitic. This distinct shift acts as a footprint, confirming the
fault structure acted as a primary fluid conduit that received a significant
influx of the Mg-Fe rich basinal brines required for uranium deposition.
Closer to the core of the hydrothermal system, these magnesium-rich brines
convert illite into a critical species of chlorite known as sudoite. Sudoite
is temporally and spatially related to primary uranium mineralisation across
multiple Athabasca deposits, typically forming a diagnostic high-temperature
alteration "envelope" around orebodies.
Sudoite contains abundant aluminium and magnesium bonded to hydroxide groups,
exhibiting both a strong Mg-OH feature and a very strong Al-OH/Fe-OH feature
in SWIR analysis. In multiple intervals within PR25-04A (at 375.9 m, 393.1 m,
and 394.8 m), this spectral "fingerprint" falls precisely within the
diagnostic 2235-2253 nm range, paired with a secondary feature around
2330-2340 nm, representing iron-magnesium in the crystal structure.
Corroborated by thin-section reviews, these spectral signatures confirm the
presence of elevated sudoite. Together with the phengitic illite data, this
successfully maps the hydrothermal fluid pathways and directs future
exploration downward toward the high-temperature core of the mineralised
system.
Summarised Geochemical Results
Table 2: Geochemical Results from the supplementary sampling of the Rapids
Fault Structure for calcium, uranium, boron, and (206/204)Lead and
(207/206)Lead ratios from the PR25-01, PR25-04A and PR25-05 drillholes. Note,
table 1 for the locations and inclinations of the DDHs
Drillhole Depth (m) Assay Result Lead Isotope Ratios
CaO wt % (total) U ppm (partial) B ppm (fusion) (206/204)Pb ratio (partial) (207/206)Pb ratio (partial)
PR25-001 190 0.16 9.67 131 38.00 0.43
PR25-001 191.4 0.25 3.93 115 26.14 0.61
PR25-001 193.2 0.36 6.68 228 82.50 0.30
PR25-001 196.15 0.38 2.10 453 17.08 0.85
PR25-001 197 2.21 3.71 681 19.08 0.77
PR25-001 198 0.32 2.79 721 26.00 0.59
PR25-001 198.9 0.37 8.48 779 185.00 0.20
PR25-001 199.9 0.18 2.11 489 18.08 0.83
PR25-004A 297.7 1.74 0.91 76 23.60 0.62
PR25-004A 298.5 2.26 1.43 77 38.00 0.51
PR25-004A 299.5 5.63 3.15 103 25.67 0.64
PR25-004A 301 1.23 5.23 63 35.50 0.48
PR25-004A 302 0.41 3.74 49 25.67 0.66
PR25-004A 302.8 0.56 5.05 73 29.88 0.55
PR25-004A 303.8 0.68 4.68 72 25.78 0.63
PR25-004A 304.8 0.15 2.86 98 17.88 0.86
PR25-004A 306.8 0.07 1.91 14 36.00 0.50
PR25-004A 306.9 0.22 2.53 68 27.20 0.63
PR25-004A 307.8 0.43 1.56 15 107.50 0.33
PR25-004A 308.8 2.48 7.10 45 43.40 0.41
PR25-004A 309.4 1.84 3.81 48 48.33 0.34
PR25-004A 310.9 0.16 4.17 22 114.00 0.26
PR25-004A 311.9 0.24 2.02 43 32.00 0.47
PR25-004A 312.7 0.29 10.00 57 112.50 0.27
PR25-004A 313.6 0.40 5.18 66 42.75 0.44
PR25-004A 314.4 0.19 3.10 45 54.00 0.44
PR25-004A 315.3 3.91 4.39 116 41.33 0.44
PR25-004A 315.5 1.08 5.23 132 30.50 0.52
PR25-004A 316.7 1.72 6.10 64 40.60 0.42
PR25-004A 317.5 0.52 5.81 58 37.00 0.44
PR25-004A 320.65 0.25 10.00 61 81.50 0.25
PR25-004A 321.6 0.62 5.08 58 51.67 0.41
PR25-004A 322.5 0.40 3.11 100 55.00 0.41
PR25-004A 324.3 0.44 4.38 97 44.50 0.38
PR25-004A 325.2 1.12 12.4 138 83.17 0.24
PR25-004A 326.3 7.00 2.5 38 48.20 0.37
PR25-004A 327.8 7.01 3.03 43 25.38 0.59
PR25-004A 330.8 2.65 2.18 63 21.33 0.77
PR25-004A 331.9 3.62 1.28 45 16.64 0.86
PR25-004A 333 0.77 0.66 57 15.59 0.94
PR25-004A 333.6 0.64 2.70 72 23.13 0.70
PR25-004A 334.5 1.14 2.28 32 50.00 0.42
PR25-004A 335.6 0.37 5.54 51 68.00 0.32
PR25-004A 336.8 2.50 7.17 36 15.82 0.94
PR25-004A 338.1 0.72 2.89 75 22.00 0.71
PR25-004A 339 2.71 2.94 43 17.95 0.85
PR25-004A 340.6 2.82 1.84 70 20.80 0.74
PR25-004A 341.3 1.59 1.08 65 17.11 0.88
PR25-004A 341.8 1.01 1.75 80 15.50 0.91
PR25-004A 342.8 0.32 1.85 55 17.88 0.88
PR25-004A 343.7 0.85 1.24 46 16.56 0.91
PR25-004A 344.4 0.95 2.04 57 22.50 0.67
PR25-004A 345.3 0.52 1.81 59 30.00 0.55
PR25-004A 346.55 0.75 2.27 59 38.00 0.39
PR25-004A 347.3 0.56 2.27 79 25.50 0.64
PR25-004A 348 0.84 1.63 41 36.50 0.55
PR25-004A 349.1 0.27 15.00 62 50.00 0.39
PR25-004A 350.5 0.24 2.07 49 21.00 0.71
PR25-004A 351.5 2.81 12.2 60 31.50 0.52
PR25-004A 353 1.24 8.63 53 72.50 0.28
PR25-004A 354.6 0.83 1.50 32 27.67 0.58
PR25-004A 355.1 0.48 1.09 32 17.44 0.87
PR25-004A 356.2 1.42 1.54 24 21.67 0.72
PR25-004A 357 7.46 0.77 29 27.00 0.65
PR25-004A 358.05 0.77 19.7 43 38.00 0.43
PR25-004A 359.2 1.56 2.50 40 26.14 0.61
PR25-004A 359.4 1.00 2.32 35 82.50 0.30
PR25-004A 361 2.00 6.12 23 17.08 0.85
PR25-004A 362.2 1.71 7.74 39 19.08 0.77
PR25-004A 363 1.15 2.81 84 26.00 0.59
PR25-004A 364.3 1.38 2.05 69 185.00 0.20
PR25-004A 365.2 0.59 4.87 27 18.08 0.83
PR25-004A 365.3 0.37 4.06 33 23.60 0.62
PR25-004A 366.3 0.38 18.8 41 38.00 0.51
PR25-004A 367.3 0.40 12.5 27 25.67 0.64
PR25-004A 371 0.20 2.02 35 35.50 0.48
PR25-004A 371 0.67 30.4 52 25.67 0.66
PR25-004A 371.7 1.26 2.65 25 29.88 0.55
PR25-004A 373.5 3.69 4.27 30 25.78 0.63
PR25-004A 374.4 1.38 9.22 21 17.88 0.86
PR25-004A 375.9 4.43 0.58 22 36.00 0.50
PR25-004A 376.6 0.26 1.09 121 27.20 0.63
PR25-004A 377 0.15 3.99 36 107.50 0.33
PR25-004A 378.1 0.28 2.60 110 43.40 0.41
PR25-004A 378.9 0.33 3.80 83 48.33 0.34
PR25-004A 384 1.28 130 92 114.00 0.26
PR25-004A 384.4 0.22 2.96 47 32.00 0.47
PR25-004A 385 1.12 23.8 49 112.50 0.27
PR25-004A 386 0.70 9.91 30 42.75 0.44
PR25-004A 387.5 2.48 9.08 44 54.00 0.44
PR25-004A 388.5 0.56 0.51 41 41.33 0.44
PR25-004A 389.4 0.20 1.74 40 30.50 0.52
PR25-004A 391 1.17 13.5 24 40.60 0.42
PR25-004A 391.9 5.41 1.99 42 37.00 0.44
PR25-004A 393.1 0.27 4.48 36 81.50 0.25
PR25-004A 394 0.58 1.78 46 51.67 0.41
PR25-004A 394.2 3.84 6.76 46 55.00 0.41
PR25-004A 394.8 0.48 2.19 32 44.50 0.38
PR25-005 230.6 0.43 5.05 4 83.17 0.24
PR25-005 232 3.08 1.32 2 48.20 0.37
PR25-005 234.4 2.31 0.68 2 25.38 0.59
PR25-005 234.9 2.32 0.45 2 21.33 0.77
PR25-005 237.3 3.00a 0.78 2 16.64 0.86
PR25-005 238.2 2.02 2.78 2 15.59 0.94
GLOSSARY
²⁰⁶Pb/²⁰⁴Pb Lead Isotopes A measure of the ratio of uranium-derived lead (known as "radiogenic lead"
²⁰⁶Pb) to non-radiogenic "primordial" lead (²⁰⁴Pb). High ratios may
suggest uranium mineralisation.
²⁰⁷Pb/²⁰⁶Pb Lead Isotopes Lower ²⁰⁷Pb/²⁰⁶Pb ratios (typically around 0.15-0.20 in
Athabasca-style systems) are diagnostic of radiogenic lead derived from
uranium minerals.
Alteration A change in the mineral composition and texture of a rock due to hydrothermal
fluids, heat, pressure, or other geological processes. It often occurs near
ore deposits and can serve as an exploration guide.
Airborne Magnetic Survey A geophysical technique conducted from an aircraft to measure variations in
the Earth's magnetic field, which was used to initially identify the Rapids
Fault System as a structure of interest.
Basement Rocks Older crystalline rocks (granite, gneiss, etc.) that lie beneath younger
sedimentary layers. In the Athabasca Basin, uranium mineralisation often forms
at or just below this contact.
Chlorite Alteration A type of chemical alteration in which chlorite (a green, iron-rich mineral)
forms in response to hydrothermal fluids. Often found near uranium deposits as
part of the alteration halo.
Composite Sample: A representative sample created by physically combining multiple discrete rock
or drill core samples collected over a specified length or area. This method
provides a general, average geochemical signature for a broader interval,
though it sacrifices the fine-scale resolution required to isolate narrow,
specific mineralogical or geochemical samples .Such samples are routinely
collected during drilling campaigns.
Diamond Drilling A method that uses a diamond-encrusted drill bit to extract cylindrical rock
samples (core) from beneath the surface. The exploration programme utilised
NQ-sized core, which has a diameter of 75.7 millimetres.
Geochemical Analysis The comprehensive laboratory testing of rock samples for a full chemical suite
to ascertain the concentration of various elements. This analysis evaluates
the presence of elements like calcium, uranium, and boron to gauge the
mineralogical fertility of the rock.
Subvertical Describes a geological feature (e.g., fault, vein, or rock layer) that is
steeply inclined, close to vertical-typically with a dip angle between about
70° and 90°.
Structurally Complex Describes a rock or geological area that has undergone multiple phases of
deformation, resulting in a mix of folds, faults, shears, and fractures. Such
areas can host mineralisation due to enhanced fluid flow pathways.
Short-Wave Infrared (SWIR) Spectroscopy A mineral identification method based on the infrared absorption spectra of
minerals. Useful for detecting clays and alteration minerals associated with
hydrothermal system
Petrographic Analysis (Thin-Section Petrography) The microscopic evaluation of rock samples to comprehend their fluid history
and mineralogical composition
REFERENCES
1 Jefferson, C.W., Thomas, D.J., Gandhi, S.S., Ramaekers, P., Delaney, G.,
Brisbin, D., Cutts, C., Portella, P. and Olson, R.A. (2007)
'Unconformity-associated uranium deposits of the Athabasca Basin, Saskatchewan
and Alberta', Geological Survey of Canada Bulletin, 588, pp. 23-67.
2 Li, P., Chi, G., Bethune, K.M., Thomas, D. and Zaluski, G. (2015)
'Topographic features of the sub-Athabasca Group unconformity surface in the
southeastern Athabasca Basin and their relationship to uranium ore deposits',
Canadian Journal of Earth Sciences, 52(10), pp. 904-913.
3 Kister, P., Beaufort, D., Lantenois, S., Quirt, D. and Cuney, M. (2006)
'Mineralogy and geochemistry of the host-rock alterations associated with the
Shea Creek unconformity-type uranium deposits (Athabasca Basin, Saskatchewan,
Canada)', Clays and Clay Minerals, 54(4), pp. 483-494.
4 Mount, S., Potter, E.G., Yang, Z., Fayek, M., Powell, J.W., Chi, G. and
Rizo, H. (2022) 'Formation of the high-grade Triple R uranium deposit revealed
by Fe and S isotopes in pyrite', Geochemistry: Exploration, Environment,
Analysis, 22(1), p. 23.
5 https://baselode.com/projects/hook-project/
6 Alexandre, P., Kyser, K., Thomas, D., Polito, P. and Marcano, M.C. (2005)
'Alteration mineralogy and stable isotope geochemistry of Paleoproterozoic
basement-hosted unconformity-type uranium deposits in the Athabasca Basin,
Canada', Economic Geology, 100(8), pp. 1547-1563.
7 Sopuck, V. J., de Carle, A. L., Wray, E. M., and Cooper, B. (1983). "The use
of lithogeochemistry in the search for unknown uranium deposits in the
Athabasca Basin, Saskatchewan." In: Geology of Uranium Deposits, CIM Special
Volume 33, pages 341-362.
8 Rosenberg, P.E. and Foit, F.F. (2006) 'Magnesiofoitite from the uranium
deposits of the Athabasca Basin, Saskatchewan, Canada', The Canadian
Mineralogist, 44(4), pp. 959-965.
9 Adlakha, E.E., Hattori, K., Davis, W.J. and Boucher, B. (2017)
'Characterizing fluids associated with the McArthur River U deposit, Canada,
based on tourmaline trace element and stable (B, H) isotope compositions',
Chemical Geology, 466, pp. 417-435.
10 Chi, G., Bosman, S. and Card, C. (2013) 'Numerical modeling of fluid
pressure regime in the Athabasca basin and implications for fluid flow models
related to the unconformity-type uranium mineralization', Journal of
Geochemical Exploration, 125, pp. 8-19.
11 Kalintsev, A., Migdisov, A., Alcorn, C., Baker, D.R. and Brugger, J. (2021)
'Uranium carbonate complexes demonstrate drastic decrease in stability at
elevated temperatures', Communications Chemistry, 4(1), p. 119.
12 Sopuck, V.J., de Carle, A.L., Wray, E.M. and Cooper, B. (1983) 'The use of
lithogeochemistry in the search for unknown uranium deposits in the Athabasca
Basin, Saskatchewan', in Parslow, G.R. (ed.) Geology of Uranium Deposits.
Montreal: Canadian Institute of Mining and Metallurgy (CIM Special Volume 33),
pp. 341-362.
13 Quirt, D. and Benedicto, A. (2020) 'Lead isotopes in exploration for
basement-hosted structurally controlled unconformity-related uranium deposits:
Kiggavik Project (Nunavut, Canada)', Minerals, 10(6), p. 512.
QUALIFIED PERSON STATEMENT
The technical information contained in this announcement 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.
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
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 - Background
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, Oman 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
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