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Alamo Gold Project - USA - Exploration Update
Alamo Gold Project - USA - Exploration Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1956T\n Power Metal Resources PLC\n 23 November 2021\n \n \n \n \n 23 November 2021\n \n \n Power Metal Resources plc (\"Power Metal\" or the \"Company\")\n \n \n Alamo Gold Project - USA - Exploration Update\n \n \n Test Pitting Programme Commences at the Alamo Gold Project in Arizona USA, Targeting Coarse Gold Mineralisation \n \n \n Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to\n provide an exploration update for the Alamo Gold Project (the \"Project\"), located in west-central Arizona, USA. \n \n \n Power Metal has the right to earn-in up to a 75% interest in the Project and full earn-in details were published in the Company's announcement on 22 July 2020. \n \n Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:\n \"The Alamo Gold Project has a history of gold nugget discoveries, and coarse gold palaeoplacer mineralisation is what we are targeting in this next phase of work.\n With the necessary exploration permits now in place the much-anticipated test pitting programme at Alamo is finally commencing. This work is fully-funded, having been paid for by Power Metal in advance as part of the year 1 earn-in requirements ending July 2021.\n We are pleased to have our project partners carrying out the work, and we will look forward to updates from the field and the receipt of results as the programme progresses.\"\n \n PROGRAMME HIGHLIGHTS:\n \n - The 2021 test pitting programme on the Alamo Project has now commenced with the geological team, excavator, metal detectorist, and various geological support staff on site as of Monday, 22 November 2021.\n \n - Permits allowing for the excavation of up to 6 test pits (3 at Breccia Hill and 3 at Big Boulder Wash), as well as 5 percussion drill holes have been received from the United States Bureau of Land Management (\"BLM\"). The bond for the proposed work programme has been lodged with the BLM allowing the outlined work to be undertaken on the Project.\n \n - The US$40,000 deposit for this phase of work was prepaid by Power Metal in June 2021, bringing the total spend for the year to July 2021 over the US$100,000 minimum as outlined in the earn-in agreement signed with Frisco Gold Corp (\"Frisco Gold\").\n \n - The focu...