Business
Drilling Begins at Historic Berringa Gold Mine
Drilling Begins at Historic Berringa Gold Mine.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n 13 December 2022\n \n \n \n Power Metal Resources PLC\n \n \n \n \n (\"Power Metal\" or the \"Company\")\n \n \n \n \n Drill Programme Begins at Historic Berringa Gold Mine\n \n \n \n Power Metal Resources PLC (LON:POW), \n the London listed exploration company seeking large-scale metal discoveries across its global project portfolio\n announces a diamond drill programme has commenced at the historic Berringa Gold Mine (\"Berringa\" or the \"Project\") held within the Company's Victoria Goldfields joint venture (\"JV\").\n \n \n \n HIGHLIGHTS:\n \n \n \n §\n Diamond drill rig has mobilised to site and drilling has commenced at the historic Berringa former high-grade producing gold mine in the Victoria Goldfields.\n \n \n \n \n \n §\n 1,000 metres of diamond drilling planned with an estimated 5 drill holes into 3 priority targets to test for the extensions of gold mineralisation in proximity of previously mined areas.\n \n \n \n \n \n §\n Expedited assay testing arrangements in place with batch sampling process expected to deliver first gold focused assay results in early 2023.\n \n \n \n \n \n §\n A video showing the planned drill programme may be viewed through the following link:\n \n \n \n https://www.youtube.com/watch?v=825WYdDVdyQ\n \n \n \n \n Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented: \n \n \n \n \"This is a notable moment for our joint venture focused on the Victoria Goldfields of Australia with diamond drilling to test three priority targets at the historic Berringa Gold Mine.\n \n \n At Berringa there has been 293,250 ounces of historical high grade gold production and we believe there may be a considerable remaining gold endowment which this drill programme is designed to partly investigate.\n \n \n It is common for exploration companies to start from ground up with grassroots exploration. In our Victoria Goldfields JV, we are far further up the progress and value curve and are now drilling to test for the along strike and down dip extensions of previously mined out high-grade mineralised gold lodes.\"\n \n \n \n BACKGROUND\n \n \n \n Acquisition of exploration licence (\"EL\") EL5535 (the \"Acquisition\"), covering the footprint of the Berringa was announced on 22 September 2022 and may be viewed through the following link:\n \n \n \n http...