Business
Expansion of Perch River Uranium Project
Expansion of Perch River Uranium Project.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n20 September 2023\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nExpansion of Perch River Uranium Project\nPower Metal Resources PLC (AIM:POW), the AIM listed metals exploration and development company, announces a progress update including project expansion through additional staking to cover further helium anomalies and prospective geology at its 100% owned Perch River Uranium Project (\"Perch River\" or the \"Project\") located within the Athabasca Basin, Saskatchewan, Canada.\nOn 08 September 2023 the Company announced the discovery of highly significant helium anomalies on Perch River which can be viewed at the link below:\nhttps://www.londonstockexchange.com/news-article/POW/helium-anomaly-discovered-on-perch-river/16115743\nHighlights\n· Hyperspectral data analysis using Sentinel-2 satellite data on mineral reflectance (\"Hyperspectral Analysis\") conducted at Perch River identified several helium anomalies on the Project, including the discovery of one extremely strong helium response in the centre of the Project as well as several strong anomalies that previously lay north and northeast of the Project boundary (see Figure 1).\n \n· Power Metal's technical team has been able to swifty act in to secure a further 1514.8-Ha at Perch River representing an approximately 38% increase in the Project's size to a total of 5,455-Ha.\n \n· The newly acquired ground covers several strong hyperspectral helium anomalies located along the same geological trend and which further overlie prospective geology.\n \n· As detailed in the Company's announcement of 08 September, Exploration teams were immediately repositioned to Perch River to complete high-resolution soil spacing over the strongest helium responses as well as a previously unsampled gravity low target to the northeast. They have successfully completed their planned field work within the current boundary of the Project with geochemical samples expected to be delivered to the Saskatchewan Research Council Environmental Analytical Laboratories for assay testing shortly.\n \n· An extensive exploration programme is underway across the Company's wider Athabasca properties and multiple further market updates covering the various ongoing work streams...