Power Metal Resources begins exploration at Silver Peak project

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Power Metal Resources PLC (LON:POW) said it has begun exploration at the Silver Peak project in British Columbia in Canada.

The AIM-listed explorer said the work programme at the site is centred on channel sampling at close intervals perpendicular to the existing known high-grade veins and grab samples from a main target area between the lower elevations and the Victoria Adit are of the site.

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The work will also include enhancement of road accessibility to the exploration area as well as in-field, geochemical analyses and confirmatory laboratory assay testing where appropriate.

The target outcome is to gather additional positive field exploration data and evidence to support a due diligence review of the project.

“We advised shareholders that accelerated due diligence would be undertaken at the Silver Peak Project and ordinarily we would have undertaken a site visit as we did with the Alamo gold project in Arizona. Given global travel restrictions, we are utilising a local team to undertake a short exploration programme gathering further information expeditiously, which we can add to the desk-based work we are undertaking”, Power Metal chief executive Paul Johnson said in a statement.

Shares in the company were up 2% at 1.3p in early trading on Tuesday.

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