Business
Australia Gold JV - Operational Progress Update
Australia Gold JV - Operational Progress Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 4331S\n Power Metal Resources PLC\n 08 July 2020\n \n \n \n \n 08 July 2020\n \n \n Power Metal Resources plc (\"POW\" or the \"Company\")\n \n \n Australia Gold JV - Operational Progress Update\n \n \n Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to\n announce an update from its Australian gold joint venture (\"JV\") company Red Rock Australasia Pty Ltd (\"RRAL\") in which POW has a 49.9% interest.\n \n \n Highlights:\n \n \n •\n OreTeck Mining Solutions of Melbourne, Victoria are currently finalising a \"Geological Review and Development of Exploration Strategy\" on the exploration license areas. \n \n \n ·\n Caracle Creek Chile SpA has been appointed to produce a National Instrument 43-101 Technical Report in respect of the gold tenements comprising eleven licence applications by RRAL covering 1,839 sq km in the Victoria Goldfields, Australia (the 'Project').\n \n \n •RRAL has applied for a further small 4 sq km gold exploration license, EL007385, to be named the Sardinia prospect, filling a gap adjacent to EL007282. \n \n \n ·\n RRAL has set up a Technical Advisory Board including Victoria-based geologists to advise and co-ordinate on technical matters in connection with a possible listing and has appointed initial members. \n \n Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:\n \"Our Australia gold JV is progressing at some pace and across multiple work streams all designed to enhance our understanding of the JV interests in the Victoria Goldfields.\n The appointment of specialists to complete the Geological Review and Development of Exploration Strategy, and also the 43-101 Technical Report, are important steps which will help drive the operational and strategic direction of the individual projects, overseen by our new Technical Advisory Board. In particular the NI 43-101 report is an essential precursor of any decision to list the RRAL assets.\n Production of the historic exploration database, seeking documented evidence of gold mineralisation, has been no mean feat, with over 100 files compiled to date, and a full report is expected shortly.\n There will be further updates in the near future.\"\n \n \n \n \n FURTHER INFORMATION:\n \n \n Sardinia Project\...