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Power Metal Resources #POW – Drilling Commences at Botswana Molopo Farms Complex

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to provide an update on the Kalahari Key Mineral Exploration Pty Ltd (“Kalahari Key” or “KKME”) Molopo Farms Complex Project (the “Project” or “MFC Project”), which is targeting prospective massive nickel sulphide and  platinum-group metal (“PGM”) mineralisation in Botswana.

OWNERSHIP STRUCTURE – MOLOPO FARMS COMPLEX PROJECT

Power Metal has an 18.26% shareholding in Kalahari Key and has elected to earn in (“Earn-In”) to a 40% direct interest in the MFC Project by funding US$500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets. On completion of the Earn-In, Power Metal will have an effective economic interest of 50.96% in the MFC Project.

For clarity, the US$500,000 cost is fully funded and covered by Power Metal existing cash resources.

HIGHLIGHTS:

· Drilling has commenced for the first of four planned holes constituting the Phase 1 Drilling Programme at the Molopo Farms Complex Project in Botswana.

· The Phase 1 Drilling programme is for an initial planned 2,505m across four diamond core drill holes.  Planned target hole depths vary from 525m to 710m.

· Hole 1 has been designed to intersect the first of an initial four high priority targets prospective for massive nickel sulphide mineralisation, delineated by both Time Domain Electromagnetic (“EM”) and Natural Field Audio Magneto Telluric (“NF-AMT”) geophysics surveys.

· The drilling, logging and sampling is being overseen at site by an experienced independent geological consultancy in line with international best practice.

· Drilling and hole casing is commencing with a rotary tri-cone drill bit through the Kalahari sand cover before switching to a diamond core drill bit at HQ and NQ core diameters for drilling through the host lithologies.

· Core will undergo geological and geotechnical logging and photography ahead of appropriate core sampling and analysis by an accredited laboratory.

· Images from the drilling programme may be viewed through the following link: https://www.powermetalresources.com/gallery/7/molopo-farms-complex-botswana

Paul Johnson Chief Executive Officer of Power Metal Resources commented:

“We are very pleased to report the commencement of drilling at the Molopo Farms Complex where high-resolution geophysics has identified a series of exciting high conductivity bodies which could be related to massive sulphide mineralisation. 

The drilling is the culmination of a great deal of high quality technical work and studies undertaken by KKME including a helicopter magnetics and electromagnetics survey and targeted Time Domain Electromagnetic and Natural Field Audio Magneto Telluric (“NF-AMT”) ground geophysics surveys.

The technical work is being overseen by a respected independent geological consultancy who have good experience of working on this style of target mineralisation and within Botswana. 

We look forward to providing further updates as the drill programme progresses.”

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent 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.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

For further information please visit 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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Botswana Molopo Farms Complex – Gallery

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is  pleased to announce the launch of a website gallery providing images and videos of the Molopo Farms Complex project in south-west Botswana.

The launch of the gallery follows the announcement on 7th October 2020 when the Company provided a drilling update from the Molopo Farms Complex project.  This announcement may be viewed through the following link:

https://www.powermetalresources.com/n/n265/botswana-molopo-farms-complex-drilling-update

The gallery, which currently hosts images of the preparation of the site for drilling commencement, may be viewed through the following link:

https://www.powermetalresources.com/gallery/7/molopo-farms-complex-botswana

Further images and videos will be added to the gallery as the drill programme progresses.

For further information please visit  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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Further CEO share purchases, & Non Exec share purchase

12.30GMT

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that today Paul Johnson, Chief Executive Officer of the Company, purchased on market  1,000,000 ordinary shares of 0.1 pence each in the Company at a price of 1.301p per Ordinary Share through his Self-Invested Personal Pension (“SIPP”)(£13,010 invested).  

Following the above purchase Mr Johnson has a beneficial interest in a total of 59,000,000 Ordinary Shares, representing approximately 7.21% of the issued share capital of the Company.

13.30GMT

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that today Ed Shaw, Non-executive Director of the Company, purchased on market  1,000,000 ordinary shares of 0.1 pence each in the Company at a price of 1.2985p per Ordinary Share (£12,985 invested).  

Following the above purchase Mr Shaw has a beneficial interest in a total of 13,500,000 Ordinary Shares, representing approximately 1.65% of the issued share capital of the Company

12.30GMT PDMR Disclosure

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director’s share dealing.

1  Details of the person discharging managerial responsibilities / person closely associated  
a)  Name    1.  Paul Johnson   
2  Reason for the notification  
a)  Position/status    1.  Chief Executive Officer 
b)  Initial notification /Amendment    Initial Notification 
3  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  
a)  Name    Power Metal Resources Plc  
b)  LEI     213800VNXOUPHTX53686
4  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted   
a)  Description of the financial instrument, type of instrument ordinary shares of 0.1p each
Identification code ISIN: GB00BYWJZ743
b)  Nature of the transaction    1.  Purchase of shares 
c)  Price(s) and volume(s) 
Price(s)Volume(s)
1.301 pence  1,000,000 
d)  Aggregated information 
– Aggregated volume1,000,000  
– Price1.301 pence
e)  Date of the transaction   09 October 2020
f)  Place of the transaction   XLON

13.30GMT PDMR Disclosure

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director’s share dealing.

1  Details of the person discharging managerial responsibilities / person closely associated  
a)  Name    1.  Edmund Shaw   
2  Reason for the notification  
a)  Position/status    1.  Non-executive Director 
b)  Initial notification /Amendment    Initial Notification 
3  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  
a)  Name    Power Metal Resources Plc  
b)  LEI     213800VNXOUPHTX53686
4  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted   
a)  Description of the financial instrument, type of instrument ordinary shares of 0.1p each
Identification code ISIN: GB00BYWJZ743
b)  Nature of the transaction    1.  Purchase of shares 
c)  Price(s) and volume(s) 
Price(s)Volume(s)
1.2985 pence  1,000,000 
d)  Aggregated information 
– Aggregated volume1,000,000  
– Price1.2985 pence
e)  Date of the transaction   09 October 2020
f)  Place of the transaction   XLON

**Ends**

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information please visit 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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metals exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Director dealings – CEO buys a further 1m shares at 1.15p

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that yesterday Value Generation Limited, a company beneficially owned by Paul Johnson, Chief Executive Officer of the Company, purchased on market 500,000 ordinary shares of 0.1 pence each in the Company (“Ordinary Shares”) at a price of 1.15p per Ordinary Share (£5,750 invested).  

In addition, yesterday Paul Johnson purchased 500,000 Ordinary Shares through his Self-Invested Personal Pension (“SIPP”) at a price of 1.15p per share (a further £5,750 invested).

Following the above purchases Mr Johnson has a beneficial interest in a total of 58,000,000 Ordinary Shares, representing approximately 7.09% of the issued share capital of the Company.

PDMR Disclosure

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director’s share dealing.

1  Details of the person discharging managerial responsibilities / person closely associated  
a)  Name    1.  Paul Johnson   
2  Reason for the notification  
a)  Position/status    1.  Chief Executive Officer 
b)  Initial notification /Amendment    Initial Notification 
3  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  
a)  Name    Power Metal Resources Plc  
b)  LEI     213800VNXOUPHTX53686
4  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted   
a)  Description of the financial instrument, type of instrument ordinary shares of 0.1p each
Identification code ISIN: GB00BYWJZ743
b)  Nature of the transaction    1.  Purchase of shares 
c)  Price(s) and volume(s) 
Price(s)Volume(s)
1.15 pence  500,000 
1.15 pence500,000
d)  Aggregated information 
– Aggregated volume1,000,000  
– Price1.15 pence
e)  Date of the transaction   08 October 2020
f)  Place of the transaction   XLON

**Ends**

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information please visit 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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metals exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Director dealings – CEO buys 1m shares at 1.064p

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that today Value Generation Limited, a company beneficially owned by Paul Johnson, Chief Executive Officer of the Company, purchased on market 1,000,000 ordinary shares of 0.1 pence each in the Company (“Ordinary Shares”) at a price of 1.064p per Ordinary Share (£10,640 invested).

Following the above purchase Mr Johnson has a beneficial interest in a total of 57,000,000 Ordinary Shares, representing approximately 6.97% of the issued share capital of the Company.

PDMR Disclosure

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director’s share dealing.

1  Details of the person discharging managerial responsibilities / person closely associated  
a)  Name    1.  Paul Johnson   
2  Reason for the notification  
a)  Position/status    1.  Chief Executive Officer 
b)  Initial notification /Amendment    Initial Notification 
3  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  
a)  Name    Power Metal Resources Plc  
b)  LEI     213800VNXOUPHTX53686
4  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted   
a)  Description of the financial instrument, type of instrument ordinary shares of 0.1p each
Identification code ISIN: GB00BYWJZ743
b)  Nature of the transaction    1.  Purchase of shares 
c)  Price(s) and volume(s) 
Price(s)Volume(s)
1.064 pence  1,000,000 
d)  Aggregated information 
– Aggregated volume1,000,000  
– Price1.064 pence
e)  Date of the transaction   08 October 2020
f)  Place of the transaction   XLON

Power Metal Resources #POW – Botswana Molopo Farms Complex – Drilling Update

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to provide an update on the Kalahari Key Mineral Exploration Pty Ltd (“Kalahari Key” or “KKME”) Molopo Farms Complex Project (the “Project” or “MFC Project”), which is targeting prospective massive nickel sulphide and  platinum-group metal (“PGM”) mineralisation in Botswana.

OWNERSHIP STRUCTURE – MOLOPO FARMS COMPLEX PROJECT

Power Metal has an 18.26% shareholding in Kalahari Key and has elected to earn in (“Earn-In”) to a 40% direct interest in the MFC Project by funding US$500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets. On completion of the Earn-In, Power Metal will have an effective economic interest of 50.96% in the MFC Project.

For clarity, the US$500,000 cost is fully funded and covered by Power Metal existing working capital.

HIGHLIGHTS:

·Drilling contract signed with experienced drilling company Discovery Drilling Contractors Africa (“Discovery”).   Discovery have a great deal of experience in Botswana including being instrumental in the drill out of the T3 Deposit now owned by Sandfire Resources.

· The Molopo Farms Complex is a major ultramafic-mafic layered intrusion straddling the southern border of Botswana with South Africa. It lies within the south-western part the large igneous province that includes the famous Bushveld Complex which contains the world’s largest reserves of PGMs.

· The Phase 1 Drilling programme is for an initial planned 2,505m across four diamond core drill holes.  Target hole depths vary from 525m to 710m and will test the first four of several high priority targets delineated as prospective for massive nickel sulphide mineralisation by airborne and ground geophysics survey data.

·Discovery have started mobilisation of equipment to site and the drilling is expected to commence shortly.

Paul Johnson Chief Executive Officer of Power Metal Resources commented:

“The build up to any one exploration drill programme is a monumental affair for any junior exploration company and at Power Metal we have multiple projects in the build up to exploration drilling.

The Power Metal approach is one of relentless drive in the search for potential new large-scale metal discoveries and we are driven by the desire to find multiple large-scale metal deposits. In part this is because we want to be proven right in our decision making, however we also seek the share price appreciation that comes with a major metal discovery. The Board of Power Metal and connected parties own 14% of Company stock and will benefit with all shareholders from successful exploration outcomes.

Maiden exploration drilling at the Molopo Farms Complex Project is a major event for Power Metal not least because our partners are targeting not just a possible large-scale metal discovery, but a district scale opportunity. Standing in our favour are the years of research of the Kalahari Key team backed by helicopter airborne electromagnetic surveys, ground geophysical surveys and Audio-Magnetotelluric (“AMT”) surveys that indicate particularly strongly that something of interest may lie beneath the sand cover of south-west Botswana and within the Kalahari Key licence area.

We will update the market with key developments as this exciting drill programme progresses.”

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent 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.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

For further information please visit 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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Project Portfolio Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to provide a project portfolio update for shareholders.

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

“Power Metal has built a diverse portfolio of interests and has multiple projects in the active exploration phase.  The latest position for all our project interests is outlined below, together with details of targeted near-term news flow across our business.

To assist investors and shareholders keep track as we push ahead with multiple exploration programmes we continue to enhance our communications tools embracing both public and investor relations disciplines.  The Company’s corporate website is being updated at present and a new website is to be launched in the coming month.  We are also looking to launch or enhance project level websites where appropriate.

We work hard to keep our corporate presentation fully up to date with each Company announcement, so it should remain a primary tool for shareholders wishing to learn more.  Today we are also launching  a Project Dashboard for shareholders which will be held on our website and contain an updated overview of each project, its status and near-term plans.

Power Metal are seeking large scale metal discoveries through active exploration, much of which is currently underway or about to commence.  Given the level of activity it’s important we remain open to feedback.  Therefore, should shareholders have any questions, or suggestions, please let us know via info@powermetalresources.com.”

Project Information Sources for Shareholders:

Further details in respect of Power Metal’s nine project interests can be found on the Company’s website https://www.powermetalresources.com/s/30/projects

The Company maintains a frequently updated Corporate Presentation which provides an overview of each project and additional corporate information and this may be viewed through the following link:

https://www.powermetalresources.com/p/193/presentations

Recognising the breadth of the Company’s projects, and the ongoing active exploration across numerous projects, Power Metal have today launched a Project Dashboard.  This provides an updated list of Company’s projects, their current status and each project’s targeted near term newsflow.

The Dashboard is now embedded into the Company’s website and a pdf copy may be downloaded through the following link:

https://www.powermetalresources.com/Uploads/8668-POW_Project_Summary_Updated.pdf

The latest project status and targeted news flow is also outlined below.  Shareholders should note that the targeted outcomes and plans may be impacted by a variety of factors, of which readers will be aware the continuing Covid-19 pandemic remains a material factor.  Power Metal works with its in-country partners to mitigate and manage all risks proactively and efficiently to ensure where possible the safe continuation of ground operations.

Power Metal Project Status and Targeted News Flow:

PROJECTMETALPOWINTERESTCURRENT STATUSTARGETED KEY NEWS 2020
     
AUSTRALIAVictoria Goldfields Joint Venture Gold49.9%12 applications over (2,188 km2.) Completed historic project reports, exploration planning and NI 43-101. Potential grant of exploration licences, starting with first 3 priority applications, then launch of exploration programmes.Progress updates for listing on North American stock exchange.
BOTSWANADitau Camp Project Rare Earths50%2 licences (1,386km2) Rare earths potential established from recent exploration work.Commence orientation study to assist in the characterisation and exploration vectoring for the Ditau Project carbonatite ring-structures potentially hosting rare earths.
BOTSWANAKalahari Copper Belt Project CopperSilver50%2 licences (1,386km2) southwest of Sandfire Resources’ T3 and A4 Dome copper-silver discoveries.Exploration results from soil sampling, then ground magnetic surveying, and possibly airborne electromagnetic surveying, leading into drill target development.
BOTSWANAMolopo Farms Complex Project NickelCopperPGMsUp to 50.96%3 licences (1,780km2) with multiple targets identified from electromagnetic survey and ground geophysics. Planned launch of maiden drill programme and thereafter delivery of results from drilling to the market including on-site findings and laboratory assays.
CAMEROONCobalt Blue Project CobaltNickel100%4 licences adjacent to, or within 50km of the Nkamouna/Nada cobalt/nickel deposit.  Announce findings from review of exploration strategies and potential commercialisation options.
CANADASilver Peak Project Silver 30%Mineral claims over historical Eureka-Victoria Silver Mine and high grade, intrusion related, polymetallic Ag-Pb-Zn-Cu veins.Planned launch of drill programme targeting high grade silver veins and following channel sampling in September 2020 which highlighted bonanza grade of up to 14,937g/t (482 oz/t).
DRCKisinka Project CopperCobalt70%Exploration licence of 41 carrés miniers (each 84.95 ha) with a 6.8km copper anomaly identified.Copper/cobalt assay results pending from 2020 pitting programme.C onversion of the licence to a Permis d’Exploitation (production license) with a 25 year life.
TANZANIAHaneti Project NickelCopperPGMsGold etc35%Large polymetallic land package of c5,000 km2  including 80km long ultramafic complex with drill ready nickel sulphide/PGM targets.Planned launch of maiden drill programme and thereafter delivery of results from drilling to the market including on-site findings and laboratory assays
USAAlamo Gold Project GoldUp to 75%Package of mining claims covering c766 acres prospective for gold following the discovery of native gold nuggets near surface.Planned follow on exploration programme after initial short reconnaissance survey conducted successfully in August 2020.

REGULATORY STATEMENT

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

For further information please visit  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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Haneti Project Nickel Drill Programme – Pre-Mobilisation

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to provide an update with respect to the planned drilling programme targeting the discovery of nickel and platinum group metals (“PGM”) at the Haneti Project (“Haneti”) in Tanzania.

Power Metal holds a 35% ownership interest in Haneti with 65% held by Katoro Gold plc (LON:KAT)(“Katoro”).

HIGHLIGHTS:

·   Pre-drill rig mobilisation now underway to finalise preparations for the maiden drilling programme targeting potential nickel sulphide and PGM mineralisation.

· Technical team mobilising to site shortly to liaise with the Tanzania Ministry of Minerals and regional/local government, prepare equipment for mobilisation and arrange ground operational staffing.

· The drill contractor availability has now been confirmed and the key objective is for mobilisation of the drilling rig and field team to site as soon as possible, subject to applicable Covid-19 related restrictions.”

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

“Reaching the pre-mobilisation phase at Haneti is a significant step forward, as the technical team prepares to arrive in-country and final site-based preparations are made for drill rig.

As previously stated Haneti is a considerable opportunity in terms of size and geological potential.  This significant drill programme will be focused principally on possible nickel sulphide and PGM targets within the 80km strike length of prospective ultramafic complex.

In addition to the potential nickel and PGM sulphides being targeted by the forthcoming drilling programme the 5,000km2 Haneti Project area is also prospective for a range of other deposit / commodity types including nickel laterites, copper, gold, lithium and rare earth deposits.

There is a clear appetite for large-scale nickel sulphide projects amongst large and mid-tier organisations at present, and therefore it makes commercial sense for the joint venture to focus initially on the nickel sulphide exploration opportunity.  Later we expect to examine in further detail the other exploration opportunities, of which there are many, at the project.”

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

For further information please visit 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:

P ower Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metals exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Investor Conference

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is   pleased to announce that it will be participating in the UK Investor Magazine Virtual Investor Conference (‘Conference’) in which Paul Johnson, Chief Executive Officer, will be delivering a presentation and answering questions about the Company.

The presentation will focus on a number of active exploration programmes in respect of the Company’s precious and base metal project interests.

The Conference is to be held on Tuesday 20 October 2020 and investors wishing to view this may register through the following registration link:

https://ukinvestormagazine.lpages.co/uk-investor-magazine-virtual-conference-20th-october/

For further information please visit  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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Power Metal Resources #POW – Botswana Kalahari Copper Belt – Exploration Commences

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce the commencement of exploration at the Kalahari Copper Belt Joint Venture (“KCB JV”) with Kavango Resources plc (LON:KAV)( “Kavango”).

HIGHLIGHTS

·    The KCB JV includes two prospecting licenses prospective for copper and covering 1,294.2km2, situated in the Kalahari Copper Belt in central west Botswana located directly to the southwest of Sandfire Resources’ T3 and A4 Dome copper-silver discoveries.  Power Metal has a 50% interest in the KCB JV.

·    Exploration now underway in the KCB JV will initially focus on soil sampling and geophysics to identify dome structures that are known to host potential copper deposits.

·    Geology of the area is well known and the JV will work quickly towards test drilling of shallow targets, once it has been able to develop a geological model.

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

“Power Metal is seeing a number of its projects launch exploration programmes and it is particularly positive to see the expeditious launch of exploration at the KCB JV in Botswana which is targeting a large scale copper-silver discovery.

The KCB JV is following an efficient, disciplined and methodical approach designed to build a geological model that can be tested through drilling at the earliest opportunity.

I look forward to providing further updates on this exploration programme.”

FURTHER INFORMATION:

Prospecting licences on the KCB

The KCB JV Project is located within an area of newly discovered sediment-hosted copper deposits, such as Cupric Canyon’s Zone 5 deposit and MOD’s T3 deposit, both of which are now being developed as mining operations. The KCB extends 1,000km by 250km from NE Botswana to central Namibia.

The KCB JV covers 1,294km2 over two prospecting licences, PL036/2020 and PL037/2020.  These lie in a highly prospective area immediately south of the district capital of Ghanzi and are along strike to the west of Sandfire Resource’s T3 and A4 Dome copper-silver discoveries.

The position of the KCB JV prospecting licences can be viewed on the Company’s website through the following link:

https://www.powermetalresources.com/p/226/kalahari-copper-belt-project

The KCB soil-sampling programme

Exploration across the Company’s interests in the KCB will initially focus on soil sampling and ground based geophysics, using Controlled-source audio-frequency magnetotellurics (“CSAMT”) to identify dome structures that are known to host potential copper deposits.

For the initial orientation programme, soil samples are being taken at 100m intervals on lines 4km apart. The first sample lines are intended to map out the soil geochemistry across undeformed sequences of the late Proterozoic Ghanzi Formation sediments.

Samples are being collected and sieved in the field and transported back to Kavango’s base camp to be tested for metal elements with a portable Niton X-ray Fluorescence Analyser (“XRF”).

Sieved samples reserved for check analysis (or duplicates) and for comparison will be sent for laboratory assay analysis to an accredited laboratory in South Africa.

Initial results are expected in Q4 2020

Geophysical surveying

Kavango’s geophysical team have identified a number of deformation zones within the KCB licences, which will be followed up once the orientation sampling has been completed.

Ground magnetic surveying will be conducted at 25m intervals over the deformation zones to supplement the regional data. This will be supplemented by CSAMT surveying over structural/geochemical anomalies.

If results warrant, an Airborne Electromagnetic (“AEM”) survey will be considered.

Project Drilling

Geology of the area is well known and the JV partners will work quickly towards test drilling of shallow targets, once it has been able to develop a geological model.

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist and acts as the Competent 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.

REGULATORY STATEMENT

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

CONTACT INFORMATION

For further information please visit 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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metal exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

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