Business
First Development Resources - Company Update
First Development Resources - Company Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n 29 July 2022\n \n \n \n Power Metal Resources PLC\n \n \n \n \n (\"Power Metal\" or the \"Company\")\n \n \n \n \n First Development Resources - Company Update\n \n \n \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 provides an update to shareholders in respect of its project portfolio in Western Australia and the Northern Territory held through its 62.12% subsidiary First Development Resources Limited (\"First Development Resources\" or \"FDR\") which is seeking a planned listing in the London capital markets.\n \n \n \n HIGHLIGHTS:\n \n \n \n ·\n Wallal Heritage Clearance Survey dates confirmed by Yamatji Marlpa Aboriginal Corporation. The survey is scheduled to take place between 16 - 19 August 2022.\n \n \n \n \n \n ·\n A drilling contract has been signed with DDH1 Drilling Limited (\"DDH1 Drilling\") for the Wallal Phase I diamond drilling programme. DDH1 Drilling have extensive experience in the Paterson region and drilled the discovery holes for the Greatland Gold plc Havieron deposit.\n \n \n \n \n \n ·\n The in-depth desktop review for the Ripon Hills and Braeside West projects is now complete with multiple targets identified for gold and base-metals associated with deep-seated fault structures confirmed for further investigation.\n \n \n \n \n \n ·\n Selta Project reconnaissance confirms the presence of pegmatite geology and the litho-geochemical analysis of samples suggests the area is dominated by a zoned pegmatite system originating from nearby granites.\n \n \n \n \n \n ·\n FDR board and advisor group composition has been finalised. All key advisors have been engaged and are now working with FDR to secure its planned UK listing targeted for later this year.\n \n \n \n Tristan Pottas, Chief Executive Officer of First Development Resources Ltd, commented:\n \n \n \n \n \"In-depth analysis has now been completed for all projects within FDR's portfolio and we now have multiple targets identified for further investigation across all our assets. The excellent work completed by our in-house geological team and external consultants has resulted in the development of conceptual targets to a point where plans are now being made to simultaneously test multiple priority...