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Share Price: 19.00
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TRADING UPDATES: Amaroq strikes gold; Power Metal completes drilling

Tue, 07th Feb 2023 14:45

((Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Uru Metals Ltd - Toronto-based investor and mine project developer - Announces identification of higher-grade nickel mineralised zone at Zeb project, South Africa, by 75% held Zeb Nickel Corp. Says deeper holes revealed higher grade nickel at the base of its historical resource estimate, an area historical drilling stopped short of testing. Notes further drilling may lead to higher grade nickel intersections and an overall grade increase.

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Amaroq Minerals Ltd - Greenland-focused mine development company - Says it has intersected gold in all completed drill holes, including 1.9 metres at 1.58 grammes of gold per tonne and 2 metres at 0.84 grammes of gold. Says drill holes indicate an intrusion related gold mineralisation system associated with a large tonnage target. Notes surface sampling results at East Ridge, 2 kilometres southwest, include visible gold observed in quartz veins. "The results are a positive step towards realising the potential of Vagar Ridge, a target with a broad-spanning surface footprint, which we believe holds significant resource. We plan to deploy the same exploration strategy of carefully targeted scout drilling and geological modelling that we have successfully implemented at our cornerstone Nalunaq project, which will improve confidence ahead of more intensive resource drilling," Chief Executive Officer Eldur Olafsson comments.

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Berkeley Energia Ltd - Clean energy company focused on bringing wholly owned Salamanca project in Spain into production - Receives notification from Spanish Ministry for Ecological Transition and the Demographic Challenge that it has rejected Berkeley's administrative appeal against MITECO's rejection of Authorisation for Construction for the uranium concentrate plant as a radioactive facility at the Salamanca project. MITECO rejected the Authorisation for Construction in 2021, which Berkeley says was done without following legally established procedure.

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Power Metal Resources PLC - London-based exploration company focusing on global metal discoveries -

Completes 2,404 metre diamond drilling programme at Molopo Farms project. Says inaugural drillhole was drilled to a depth of 483 metres, while deepest was 650 metres. Notes total drilling programme was made up of five drillholes. Says it is completing detailed logging of its remaining cores, and is processing and shipping remaining samples for assay testing. Chief Executive Officer Paul Johnson says: "Completion of this drill programme represents an important step forward for Power Metal and my thanks go out to the operational teams for a job well done. This exercise required some flexibility, with teams mobilising to multiple locations, requiring rapid adaptation to the changing technical demands on an iterative basis."

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By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
18 May 2022 15:05

Power Metal upbeat on latest work at Ditau Camp

(Sharecast News) - Metals exploration company Power Metal Resources updated the market on the Ditau Camp Project in southwest Botswana on Wednesday, which is prospective for carbonatite-hosted rare-earth element, base-metal and possible precious-metal mineralisation.

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16 May 2022 20:30

IN BRIEF: Power Metal investee First Class lands Pickle Lane permit

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Investee First Class Metals PLC receives exploration permit for the Pickle Lake area in Ontario, Canada. Confirms arn-in joint venture partner Palladium One will launch drill programme at Pickle Lane. Power Metal has just over 36% stake in First Class.

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11 May 2022 20:22

IN BRIEF: Power Metal Resources to buy Pardoo Resources in Australia

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Says it has agreed to acquire Pardoo Resources Pty Ltd through its subsidiary FDR UK.

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5 May 2022 17:46

IN BRIEF: Kavango to expand exploration on Ditau JV with Power Metal

Kavango Resources PLC - mining company focused in Botswana - Expands exploration programme at its Ditau project in south west Botswana following the completion of hole DITDD003. Ditau is a 50-50 joint venture with Power Metal Resources PLC. Kavango and Power Metal say they are exploring for rare earth elements and base metal mineralisation. Exploration programme will include an additional 16.1 kilometres of audio-magnetotelluric surveys over the drill target area.

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29 Apr 2022 21:39

TRADING UPDATES: Rotala buys buses; Aukett Swanke sells John R Harris

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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22 Apr 2022 15:51

IN BRIEF: Power Metal granted additional prospecting licence at Tati

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Says prospecting licence PL049/2022, covering the historical Cherished Hope gold mine as well as a large gold-in-soil anomaly coincident with a prominent northeast-southwest oriented regional structure, has been granted. "The grant of this additional prospecting licence is a significant achievement for the Tati Project, covering a number of major gold anomalies identified by our team during a in-depth desktop analysis completed following the receipt of our 2021 drilling programme assay results," says Chief Executive Paul Johnson. Company is undergoing an in-depth review of all historical results covering the newly granted licence.

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19 Apr 2022 12:56

Kavango and Power Metal Resources begin drilling at Ditau Camp project

(Alliance News) - Mining company Kavango Resources PLC and metals exploration company Power Metal Resources PLC announced on Tuesday they started drilling at the i10 target at the Ditau Camp project in Botswana.

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12 Apr 2022 21:51

TRADING UPDATES: Gore Street fundraise; Pathfinder mulls disposal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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8 Apr 2022 16:08

IN BRIEF: Power Metal sees positive data for two properties in Canada

Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Provides an update on its Clearwater and Thibault Lake uranium properties in Saskatchewan, Canada. Says government data indicates the presence of multiple occurrences of strong vein-hosted uranium mineralisation on both properties.

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4 Apr 2022 21:53

TRADING UPDATES: Conroy wins licences; Likewise first quarter strong

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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31 Mar 2022 14:08

Power Metal stakes more ground at Soaring Bay uranium project

(Sharecast News) - Power Metal Resources updated the market on its Soaring Bay uranium property on Thursday, with its footprint increasing 71% to 79.07 square kilometres after the staking of more uranium-prospective ground.

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29 Mar 2022 20:08

IN BRIEF: Kavango Resources to start drilling at Ditau Camp project

Kavango Resources PLC - mining company focused in Botswana - Identifies 12 geophysical structures at the Ditau Camp project in Botswana, which the company believes could host carbonatites. Nine of these structure are particularly well defined, and Kavango is now starting a diamond drill campaign to test three of the targets, by drilling up to 2 holes in each targets.

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22 Mar 2022 21:00

TRADING UPDATES: Marlowe makes acquisition; Kavango backs out of deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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21 Mar 2022 19:11

TRADING UPDATES: Kavango eyes acquisition; PYX ups zicron price

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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16 Mar 2022 20:55

TRADING UPDATES: Ascent expects growth; Bradda gets drilling licence

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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