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Power Metal Resources PLC - London-based exploration and development company - Announces that joint venture with Red Rock Resources PLC known as New Ballarat Gold Corp has been granted a new 489 square kilometre exploration licence known as EL007282, or Blue Sky in Victoria, Australia.
Meanwhile, the JV's first diamond drill programme has started at the O'Loughlin prospect.
In addition, Golden Metal Resources Ltd - in which Power Metal holds an 83% interest - has raised GBP750,000 in pre-IPO financing, as the Nevada, US-focused exploration firm targets a listing in London for April.
Current stock price: 1.33 pence
Year-to-date change: down 52%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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