Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes the Business Update released by First Class Metals Limited (“First Class”) in which Power Metal has a 36.1% interest.
In September 2021 Power Metal sold its Schreiber-Hemlo interests in Ontario, Canada to First Class for a total consideration of £1million, satisfied through the issue of 333,334 First Class shares at a price of £3 per share, further details of which may be viewed through the following link:
Yesterday, First Class released a Business Update providing further information in respect of developments within their Schreiber-Hemlo project portfolio. The developments include the findings from a Versatile Time Domain Electromagnetic Survey within the Pickle Lake Project, the submission of an exploration permit (in respect of planned drilling) and the completion of a sampling programme.
The Business Update may be viewed on the First Class website through the following link:
https://www.firstclassmetalsplc.com/mining-news
About First Class Metals Limited. is a minerals exploration company focused on proving and developing the significant potential of their flagship property North Hemlo which includes the Pickle Lake Palladium One JV area as well as systematic exploration of the Esa, Sugar Cube, McKellar, Magical, Enable and Coco East properties, in total 176km² in the Hemlo – Harte gold mines region in the Western portion of the Wawa-Abitibi Gold Belt of Ontario, Canada.
Geologically the claim blocks are located within the Schreiber-Hemlo Greenstone Belt with target minerals gold, silver, base and battery metals in typical Archaean / Hemlo style mineralised settings. First Class is seeking a London Listing prior to year end 2021.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |