Business
Ion Battery Resources-Lithium Exploration Underway
Ion Battery Resources-Lithium Exploration Underway.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n10 August 2023\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nIon Battery Resources - Lithium Exploration Underway\n \nPower Metal Resources PLC (AIM:POW), the AIM listed metals exploration and development company, announces the launch of lithium exploration at the North Wind Lithium Project in the Province of Ontario, Canada (\"North Wind\" or the \"Project\").\nNorth Wind is 100% owned by Ion Battery Resources Limited (\"Ion\") a wholly owned subsidiary of the Company which is targeting transition metals including lithium and graphite in mining friendly Ontario, Saskatchewan and Quebec, in Canada.\nPower Metal is now the 100% owner of North Wind (lithium), as well as the Authier North (lithium) and Doerksen Bay (graphite) projects, which together represent a compelling and prospective group of battery metals assets focused in some of Canada's top mining jurisdictions.\nOn 12 July 2023, POW successfully expediated the earn-in on Ion's Authier North Lithium Project, and the associated claim transfer into Ion's 100% owned Canadian subsidiary is now nearing completion.1\nSeparate updates detailing next corporate steps for Ion and exploration updates for the Authier North lithium and Doerksen Bay graphite projects, will be provided in due course.\n \nSean Wade, Chief Executive Officer of Power Metal Resources plc, commented: \n\"Power Metal has a number of interests providing potential exposure to lithium and we see an opportunity with Ion to create considerable value through a material investment in active lithium exploration.\nBased on studies conducted by the Ontario Geological Survey, and highly anomalous lake sediment sampling results, the North Winds Project area is considered highly prospective for lithium pegmatite exploration, and the significant opportunity means we are moving ahead at pace with this programme. As is the case across our portfolio, we aim to undertake methodical and cost-effective exploration, and we look forward to updating shareholders on the results in due course.\nIon currently represents a small part of the Power Metal global project portfolio. However, it is shaping up well and we expect to confirm Ion's planned crystallisation pathway in the coming months.\"\n \nHighlights:\n- The North Wind Project area is considered pros...