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Uranium JV: Drake Lake-Silas Property Update
Uranium JV: Drake Lake-Silas Property Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n31 March 2025\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nUranium Joint Venture: Drake Lake-Silas Property Update\nDrill Targets Established Targeting IOCG Mineralisation on Drake Lake Silas Property\nPower Metal Resources plc (AIM:POW, OTCQB:POWMF), the London-listed exploration company with a global project portfolio, is pleased to provide an exploration update for the Drake Lake Silas Uranium Property (\"Drake Lake-Silas\" or the \"Property\"). Drake Lake-Silas is located in the Central Mineral Belt of Newfoundland & Labrador, Canada.\nThe update concerns work undertaken by Power Metal and Fermi Exploration (\"Fermi\"). Fermi is the uranium-focused joint venture (the \"Joint Venture\" or \"JV\") comprising Power Metal's portfolio of uranium licences, of which Drake Lake-Silas is a constituent.\nHIGHLIGHTS:\n· Diamond drilling programme planned to test high-priority Iron Oxide Copper Gold (\"IOCG\") deposit style target.\n \no Planned 8 hole drilling programme, totalling a planned total 2,400m currently scheduled to commence during June 2025.\n \no IOCG target defined by magnetic and gravity geophysical modelling and coincident uranium, lead isotopic, and radon anomalies.\n \n· IOCG deposits are major sources of the world's uranium, alongside copper and gold.\n \n· Further magnetic and electromagnetic geophysical surveys and geochemical sampling commissioned to support drill targeting.\n \nSean Wade, Chief Executive Officer of Power Metal Resources PLC commented:\n\"Momentum is building now as we approach the start of the drill programme across our uranium portfolio.\n \nThere will be more updates to clarify the targets and likely start dates, so that shareholders will have a detailed picture of what will be a very exciting period in the Company's development.\n \nI very much looking forward to sharing more information as we continue to make progress\".\n \nOVERVIEW\nThe planned diamond drilling programme has been designed to test the high priority targets generated by a three-dimensional (\"3D\") inversion model of geophysical data in conjunction with surface geochemical and radiometric data.\nIOCG style deposits are major sources of copper, gold and uranium, of which the best known is the &n...