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FDR Australia - Paterson Region Exploration Update
FDR Australia - Paterson Region Exploration Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5712L\n Power Metal Resources PLC\n 13 September 2021\n \n \n \n \n 13 September 2021\n \n \n Power Metal Resources plc \n \n \n (\"Power Metal\" or the \"Company\")\n \n \n FDR Australia - Paterson Region Exploration Update\n \n \n Important Phase I Work Programme Underway at Wallal Project\n \n \n Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces an exploration update from the Wallal Project (the \"Project\") located in the prolific Paterson Region of Western Australia.\n Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:\n \"It is important to articulate clearly the work completed in the Paterson Region to date and below we provide a summation of our overall exploration rationale, current findings, and future exploration plans. I would encourage shareholders to review this information which demonstrates the reasons for our building excitement.\n We have identified geological and geophysical features within our Wallal licence that bear similarities to two major and recently discovered deposits within the Paterson Region at Winu and Havieron, both of which are under development.\n Whilst awaiting licence grants at the Wallal Project we have continued to advance our review of all available existing data. We are now moving to the next stage with our own work programmes to generate new data and refine target information purposed specifically for a planned deep drilling programme.\n In our view there is increasing potential for a major metal discovery at the Wallal Project, and as one would expect we are pushing ahead with some enthusiasm.\"\n Exploration Rationale\n The Paterson Region is host to major gold-copper deposits including Winu (Rio Tinto) and Havieron (Newcrest Mining - Greatland Gold JV).\n To date, Power Metal has undertaken in-depth desktop analyses with the aim of comparing the geological and geophysical features of both Winu and Havieron to those found within the Wallal Project.\n Our hypothesis was that if we were able to identify geological and geophysical similarities of areas within the Wallal Project to established large-scale deposits elsewhere in the Paterson Region, it would increase the chance of a discovery and justify more deta...