Home » Posts tagged 'stock' (Page 2)
Tag Archives: stock
#GRX GreenX Metals – Notice of AGM
DATE OF ANNUAL GENERAL MEETING
GreenX Metals Limited (GreenX or the Company) advises that the Annual General Meeting (AGM) of the Company will be held at the Conference Room, Ground Floor, 28 The Esplanade, Perth, Western Australia on Wednesday, 16 November 2022 at 10.00am (AWST).
Further information relating to the AGM, including the resolutions proposed and explanatory information in respect of such resolutions, is set out in the Notice of AGM which is available for download on GreenX’s website at: https://greenxmetals.com/investors/announcements/.
A Form of Instruction will be sent to all depository interest holders allowing them the opportunity to vote via proxy at the AGM.
For further information please contact:
Dylan Browne
Company Secretary
+61 8 9322 6322
#ORPH Open Orphan plc – Positive in vitro results for FLU-v published
Open Orphan plc (AIM: ORPH), (to be renamed hVIVO plc (AIM: HVO) effective 26 October 2022), a rapidly growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that positive data from a peer-reviewed study evaluating the in vitro efficacy of FLU-v, Imutex Limited’s (“Imutex”) broad spectrum influenza
vaccine, has been published in the scientific journal Vaccines.1
Previous clinical studies have demonstrated that FLU-v induced increased antibody and cellular responses in vivo. This placebo-controlled study evaluated the ability of FLU-v to induce cellular effector functions and cross-reactivity (both measures of the immune response, with cross-reactivity being particularly important for protection against multiple viral strains) of immune cells extracted from participants, following exposure to five different influenza strains.
The study found that measurements of IFN-γ and granzyme B production in stimulated immune cells from participants that had been previously vaccinated with either FLU-v or placebo, were significantly higher in the FLU-v group both when stimulated with vaccine antigen and also with antigens from a panel of seasonal and pandemic inactivated influenza A and B strains. These results further support the continued development of FLU-v as a broad-spectrum influenza vaccine.
FLU-v is owned by Imutex, a joint venture between hVIVO and PepTcell Limited (the legal name of SEEK Group), to develop vaccines against influenza and mosquito borne diseases such as Zika virus, malaria and other flaviviruses.
Seasonal influenza causes significant morbidity and mortality each year and a pandemic influenza continues to pose a worldwide threat. Influenza is a serious global health threat with an estimated 1 billion cases per year, 3-5 million severe cases and 290,000 – 650,000 deaths per year.
Dr Andrew Catchpole, Chief Scientific Officer of hVIVO, said: “It is encouraging to see further positive data for FLU-v, supporting its continued development as a broad-spectrum influenza vaccine. There is a large unmet need for a broad-spectrum vaccine to help battle emerging seasonal and pandemic influenza A and B viruses. Although FLU-v had already produced successful Phase II clinical data, this in vitro study is particularly important as it showed the ability of the candidate to induce an immune response against a diverse variety of influenza A and B strains.”
1. Oftung, F.; Næss, L.M.; Laake, I.; Stoloff, G.; Pleguezuelos, O. FLU-v, a Broad-Spectrum Influenza Vaccine, Induces Cross-Reactive Cellular Immune Responses in Humans Measured by Dual IFN-γ and Granzyme B ELISpot Assay. Vaccines 2022, 10, 1528. https://doi.org/10.3390/vaccines10091528
For further information please contact:
|
Open Orphan plc |
+44 (0) 20 7756 1300 |
||
|
Yamin Khan, Chief Executive Officer |
|||
|
|
|||
|
Walbrook PR (Financial PR & IR) Stephanie Cuthbert / Phillip Marriage / |
+44 (0)20 7933 8780 or openorphan@walbrookpr.com +44 (0) 7796 794 663 / +44 (0) 7867 984 082 / |
||
#KAV KAVANGO RESOURCES PLC – KCB drill strategy finalised
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to report finalisation of its drill strategy for four of its prospecting licences (“PLs”) in the Kalahari Copper Belt (“KCB”) (the “Drill Strategy”).
Over the last 12 months, Kavango has focussed its field exploration in the KCB on PLs 082/2018, 036/2020, 049/2020 and 052/2020 (the “Four PLs”). The Drill Strategy is the culmination of these efforts.
HIGHLIGHTS
– Kavango’s objective in the KCB is to make one or more discoveries of economically viable copper/silver deposits across its 12 PLs in the region
– The Drill Strategy is a flexible programme, designed to be delivered in staged phases and to a variety of depths
– Kavango expects to conduct ongoing optimisation as drill results are known
– Kavango has so far delineated 13 priority target areas (the “Priority Targets”) across the Four PLs:
– 188 drill collar locations identified
– Up to 37,600m of reverse circulation (“RC”) and diamond drilling proposed
– The Priority Targets are situated in underexplored areas of the KCB, which are in the vicinity of known high-grade copper/silver deposits
– Kavango identified the Priority Targets through:
– Geophysical surveying and data interpretation (airborne magnetics & airborne electromagnetics)
– Geological mapping, confirming favourable regional structures
– Intensive soil sampling, with recorded values of up to 119 parts per million (“ppm”) copper (pXRF values)
– Kavango will continue further field exploration across all 12 of its PLs in the KCB, in parallel to any drilling. The Company expects to add more target areas and drill collar locations to its inventory as this work progresses
Kavango has provided maps showing the Priority Targets on the Company’s website, via the link below:
https://www.kavangoresources.com/media-library/news-release-media/rns28september2022
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“I am extremely happy to provide an update on this major development in the Kavango story. With such a large, prospective land package in the Kalahari Copper Belt (KCB), it is vital that we are clear on the steps required on our road to discovery.
We have undertaken extensive geological, geochemical, and geophysical work to define our target areas precisely, with the aim of maximising our chances of success. If copper exists on our ground, I am confident that our highly experienced technical team will find it.
Through our flexible proposed drill programme, we have a total of 188 viable drill locations over 13 priority areas, each of which we believe gives us the chance of encountering copper mineralisation. In total our exploration drilling could total as much as 37,600m, which emphasises the scale of Kavango’s opportunity. Our ground could host multiple deposits, which is why we have been as thorough as we have in our approach.
With such large target areas to go for, we’ve worked diligently to rank our specific drill targets in order of priority. Our goal is to become a major player in the KCB and I look forward to updating shareholders in due course as we commence our maiden drill campaign in the KCB.“
Drilling strategy detail
Kavango has carefully designed a methodology for generating and ranking targets across its KCB licences, centred on combining multiple data sets. The Company’s approach brings together the combined geological, geochemical, and geophysical experience of its four senior technical team members, who together have more than 90 years of exploration experience. This approach includes:
I) Geological mapping
– This allows for the recording and measuring of licence geology, providing the bedrock for interpretation of geochemical and geophysical data
II) Soil sampling
– After identifying anomalous areas through soil sampling, Kavango’s team revisit each site to follow-up and ‘ground truth’, this allows Kavango to avoid false anomalies. It ensures that ongoing work focuses on the highest-priority targets – anomalies that are not just at elevated levels but also are continuous across multiple lines
III) Regional Airborne Magnetic (“AM”) surveying
– AM data is readily available in Botswana and provides a basis for validating geological mapping. Variations in magnetic mineral content allow for the identification of strata within geological sequences that can be used both within and across adjacent licence boundaries. This technique can significantly assist with the identification of large scale deposits, which are controlled by overall regional geological trends
IV) Licence specific Airborne ElectroMagnetic (“AEM”) surveying
– Kavango has flown AEM surveys across a number of its licences. This data is used to identify conductive bodies that could represent metal sulphides, and to assist detailed mapping of potential lithologies and structures
V) Target refinement
– Kavango carries out additional work, including infill lines of soil sampling and additional geophysics, such as Controlled-source Audio-frequency Magnetotellurics (“CSAMT”), to confirm and better define its highest priority drill targets
To date, geological mapping and soil sampling, supported by the ongoing integration of AM and AEM, have taken place across licences PL082/2018, PL036/2020, as well as the “Mamuno” licences (PL049/2020 and PL052/2020). These Four PLs sit within Kavango’s wider portfolio of 12 KCB licences covering 5,065km2.
The Company’s work has led to it defining and ranking 13 Priority Targets, which include values of up to 119ppm copper and are described in more detail in the table below. Because the Priority Targets are still being refined, it should be noted that the ranking of each may change as further data becomes available.
Kavango has currently identified a total of 188 drill collar locations over the Priority Targets for a total of up to 37,600m of test drilling. The Company’s goal is to make multiple significant copper/silver discoveries across its PLs. Kavango’s confidence is based on the quality of its work, which has highlighted the Priority Targets’ favourable geology, structural setting, and position relative to known KCB deposits.
In this way, Kavango plans to use the results from its initial drilling to inform deeper drilling and, potentially in future, resource drilling. The Company expects to add additional targets over time to its inventory, as it continues with further field exploration across its eight other KCB licences and unexplored areas within the Four PLs.
|
SCOPING FOR REVERSE CIRCULATION AND DIAMOND DRILLING PROGRAMME IN THE KCB |
||||
|
Licence/ Prospect |
Target name |
No. of proposed holes / metres |
Description |
Supporting data |
|
PL036/2020 (Infill soils underway, waiting analysis. Tromino surveys in progress. Regional aeromagnetic interpretation in progress.) |
Acacia |
30 drill collar locations / 6,000m |
Wide anomaly around the central part of the fold nose of the ‘Acacia fold’, measuring 2km x 2km. Possible source of this anomaly could be radial axial fold fractures, tapping into the Ngwako Pan/D’kar contact along the axis of a SW plunging anticline. |
Max value 56ppm Cu, 5 values above 20ppm Cu. Coincident Zn (+20ppm Zn) identified |
|
Morula |
30 drill collar locations / 6,000m |
Wide anomaly just south of the Acacia fold nose. Measuring 3km x 3km with a general NE-SW trend parallel to the regional stratigraphy. |
Max value is 38ppm Cu. (previous orientation survey associated this anomaly with calcrete/drainage) |
|
|
Happy |
10 drill collar locations / 2,000m |
Low-tenor teardrop shaped anomaly to the south. 9km long and 1km at its widest. Located in the centre of an interpreted anticline. No exposure in the area. |
Defined by +15ppm Cu values. Maximum value is 25ppm Cu. Supporting anomalous Zn values (+20ppm Zn) |
|
|
Kudu
|
4 drill collar locations / 800m |
Newly identified NE-SW trending zone of anomalous Cu values. 18km long (non-continuous) target zone, within which are possible multiple targets including Lines 69 & 83. This trend is distinct, sub-parallel to stratigraphy and tight. Narrow focus suggests this could be a steeply dipping feature, and/or a sharp structural feature such as a fault. It is also immediately adjacent to what Kavango’s geologists have mapped as a structural repetition of the key Ngwako Pan-D’kar contact. |
Line 39. Defined by 8 values in excess of 30ppm Cu; max value 110ppm Cu. Line 69 Geochemical high 46ppm Cu value Line 83 Geochemical high 51ppm Cu value
|
|
|
PL082/2018
(Infill soils completed, analysis in progress. Tromino surveys in progress. Regional aeromagnetic interpretation in progress.) |
Central Zone |
45 drill collar locations / 9,000m |
Follows the geological trend of a possible sub cropping anticline. This anticline forms the dome that hosts the Zeta and Plutus copper deposits identified by Discovery Metals, to the NE. The elevated copper values are postulated to represent a possible leakage zone from a redox contact underneath.
|
Defined by Cu >30ppm, max 119ppm, plus anomalous zinc. Extends over some 27km and is also characterised by a zone of elevated magnetic response. Peak values along trend, in particular where supported by favourable structure will form initial focus. Quartz veining observed in field. Drilling will target intersection of structure and favourable stratigraphy at depth. |
|
Northern Zone |
15 drill collar locations / 3,000m |
Robust anomaly extending over 8 km of geological strike length and 400m at its widest, no outcrop. Local drainage base level. Anomaly is located on the edge of a magnetic high, which bears similarities to the Ourea and Quirinus copper deposits identified by Discovery Metals in 2009. These deposits are interpreted to be on the limbs of tight anticlines. |
Cu: >30ppm, max 39.7ppm. Anomalous zinc. Previous work by Kavango identified a coincident elevated AEM response in this area. Target is an extensive one, with elevated metal values and high magnetic response – initial drilling could verify whether this relates to possible Karoo volcanics, or the targeted sediment hosted strata bound mineralisation. |
|
|
South conductor |
12 drill collar locations / 2,400m |
High conductivity area identified by Kavango. Faulted. Further field follow up planned. |
||
|
SW high |
3 drill collar locations / 600m |
Single point high geochemical value. Further field follow up planned. |
||
|
Mamuno (PL049/2020, PL052/2020) Targeted AEM completed. Interpretation in progress. Tromino to continue soon. Infill soils planned. Regional aeromagnetic interpretation in progress. |
Main Zone (L6, L7, L10) |
33 drill collar locations / 6,600m |
Single large target 5km x 3.5km Trending NNE-SSW, the geochemical anomaly straddles the mapped prospective redox horizon on the limbs of a possible regional anticline. Thicker sand cover here may attenuate the geochemical signal, while the very flat terrain could cause dispersion of the anomaly by sheet wash. No obvious drainage that could have caused contamination or a false anomaly. |
Wide area of anomalous values >30ppm Cu. Peak value of 73ppm Cu. KAV has recently flown an AEM survey over this anomaly; interpretation is pending. |
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
dri
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status. Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.
#POW Power Metal Resources PLC – Molopo Farms Complex Project Update
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update in relation to the Molopo Farms Complex Project (“Molopo Farms” or the “Project”) targeting a large-scale nickel-copper-platinum group element (“PGE”) discovery in southwestern Botswana.
On 21 September 2022 the Company announced an update regarding the commencement of drilling at priority target area T1-6, as well as the ongoing geophysics programme. The link to this announcement is below:
KEY HIGHLIGHTS
T2-3 Major Drill Target
– Data from ground-based electromagnetic (“EM”) as well as magnetic geophysical surveys covering target areas T1-14, T1-3 and T2-3 has now been compiled and analysed.
– Final results have highlighted a large, significant geophysical conductor at target area T2-3. This conductor remains open in all directions and is strongly coincident with a magnetic body identified here by the ground and airborne magnetic surveys. No drilling has ever been completed over this target area.
– The historical airborne magnetic results at T2-3 have been further analysed and the magnetic body coincident with this newly identified moving loop electromagnetic (“MLEM”) geophysical conductor is shown to extend for approximately 12km in an east-west direction.
– This conductor has been given a high-priority (A+) ranking by the Company, the same priority ranking granted to the conductor at T1-6 (where drilling is ongoing).
– A planned 600m diamond core drillhole, DDH2-3A, has been designed to intersect the T2-3 conductor at approximately 300-350m downhole depth. The Company is planning on drilling this hole following the completion of diamond drillholes DDH1-6B (drilling currently in progress) and DDH1-6C.
Additional Airborne Electromagnetic Conductors
– Power Metal in conjunction with its geophysical contractor, completed an in-depth review of all airborne electromatic (“AEM”) geophysics conductors identified by the previous operator. Five of these AEM conductors (1-2, 1-4, 1-5, 1-10 and 1-11) have been upgraded and are now designated as priority airborne conductors, where follow up work is being considered.
Paul Johnson, Chief Executive Officer of Power Metal Resources commented:
“Drilling is successfully underway at the priority target area T1-6 where a very large geophysical conductor was identified from recently completed geophysical surveys, the initial results of which we announced on 16 August 2022. In that announcement I noted that the exploration findings were potentially among the most significant the Company had delivered.
Today’s news potentially has even greater significance with the confirmation of a major conductor at T2-3 which adds another high-priority target to the list for drill testing during the ongoing campaign. Significantly, airborne magnetic survey results over this new conductor suggest that it could be very sizeable.
Our focus is the continuation of drilling at T1-6 which is still in its early stages and where the diamond drill is progressing down to the target zone.
The findings from T1-6 in terms of potential mineralisation are keenly awaited and, given the results of the latest geophysical review, we will be looking to also drill T2-3 at the earliest opportunity.
Further to T1-6 and now T2-3, we have confirmed numerous additional targets for further investigation where there is the potential for multiple additional drill targets to be identified.”
GEOPHYSICAL SURVEY – OVERVIEW
– Spectral Geophysics have completed the 2022 Phase II exploration programme which included three MLEM and three magnetic geophysics surveys over targets T1-14 and T2-3 and T1-3. The MLEM and magnetic survey results will assist the company in refining further drill collar locations for the ongoing 2022 diamond drilling campaign.
– MLEM survey results over T2-3 have highlighted a large flat-lying, slightly concave (downward), strong conductor which remains open in all directions. The magnetic survey over this target also identified a large magnetic body that is spatially coincident with the conductor, which is interpreted to be an indication that the conductor is associated with or found within mafic to ultramafic rocks of the Molopo Farms Complex.
– MLEM results over the T1-14 target have highlighted the presence of a strong conductor located south of the 2021 drillhole (KKME1-14) that targeted this zone. It is estimated that a circa 650m drillhole would be needed to test the top of this conductor. While there are conductive Transvaal carbonaceous mudstones in the area of the survey, the centre of this anomaly is strongly coincident with a magnetic high interpreted to be caused by the ultramafic rocks in the area – suggesting that the magnetic conductor detected by this survey may be located within the ultramafic intrusive rocks. The Company is considering next steps at target area T1-14.
– Further geophysical data analysis and processing inversions are ongoing at T1-3, where a large AEM conductor was originally identified by the previous operators. The results of the completed MLEM and magnetic surveys over this target will be released following the completion of these further analyses.
– The Company also has completed an in-depth review of a previously completed AEM report covering the majority of the Molopo Farms Complex Project. Considering priority areas T1-6 and now T2-3 were originally identified by the airborne EM survey, it was decided that further investigation of the targets identified by this report was warranted. Significantly, five of the strong AEM conductors, including T1-2, T1-4, T1-5, T1-10 and T1-11 have been upgraded and are now classified as priority airborne targets by the Company. At T1-11, a 2020/2021 drillhole (KKME1-11) completed by the previous operator was determined to not have adequately targeted this conductor. Further work at these targets, which may include MLEM surveys, as well as the possibility of downhole EM at T1-11 is being contemplated and next steps will be outlined by the Company in due course.
FURTHER INFORMATION
Figure 1 – Molopo Farms Complex Project Plan Map: A plan map of the Project area, including the location of various elements mentioned above is outlined in Figure 1 below.
Figure 2 – Molopo Farms Complex Project T2-3 Plan Map: A plan map of the priority area T2-3, including the location of the MLEM survey, airborne magnetic results (first vertical derivative) and location of planned drillhole DDH2-3A.
Figure 3 – Priority Target Area T2-3 Cross-Section: A cross section showing the location of the planned drillhole DDH2-3A and the MLEM results (new conductor in blue).
The diagrams and image presented above may also be viewed on the Company’s website through the following link:
https://www.powermetalresources.com/molopo-farms-complex-project-major-drill-target-t2-3/
Further photographs and videos from the drill programme are and will be available on the Company’s website gallery section, through the following link:
https://www.powermetalresources.com/investors/gallery/molopo-farms-complex-botswana/
PROJECT BACKGROUND AND OWNERSHIP
Power Metal currently has a current circa 53% effective economic interest in Molopo, held through a direct project interest and a shareholding in partner Kalahari Key Mineral Exploration (Pty) Ltd (“KKME”). On 18 May 2022 Power Metal announced a conditional transaction that would see its interest in Molopo Farms increasing to 87.71% (the “Transaction”). The announcement may be viewed through the following link:
https://www.londonstockexchange.com/news-article/POW/kalahari-key-botswana-acquisition/15458701
As part of the Transaction, Power Metal will become the Project operator and in advance of completion the Company is working with the team at KKME to maintain momentum with regard to Project exploration.
Work streams are also in process to secure Botswana regulatory approvals enabling the Transaction to complete.
QUALIFIED PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
REFERENCES
1: Power Metal PLC announcement, Botswana Molopo Farms Complex – Drilling Progress Update, 14 December 2020
( https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/rmq269w )
2: Power Metal PLC announcement, Significant Nickel Intersections Confirmed by Drill Sample Assay Results, 8 April 2021
( https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/rmq7mnw )
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.finance
For further information please visit https://www.powermetalresources.com/ or contact:
|
Power Metal Resources plc |
|
|
Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
|
SP Angel Corporate Finance (Nomad and Joint Broker) |
|
|
Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
|
SI Capital Limited (Joint Broker) |
|
|
Nick Emerson |
+44 (0) 1483 413 500 |
|
First Equity Limited (Joint Broker) |
|
|
David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#POW Power Metal Resources – Athabasca Basin – Strategic Uranium Project Staked
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 concerning its uranium property portfolio focused on the Athabasca Basin area in Saskatchewan, Canada.
HIGHLIGHTS:
–Durrant Lake Uranium Property (“Durrant Lake” or the “Property”) acquired by direct Mineral Claim staking. The newly acquired claim covers a total area of 58.66km2 within the eastern side of the Athabasca Basin and is bordered on three sides by claims held by uranium focussed companies Orano SA, Denison Mines Corp and ISO Energy Ltd.
–Durrant Lake, which was staked directly by the Power Metal technical team, is the first uranium portfolio property to be situated within the confines of the prolific Athabasca Basin.
–With the addition of Durrant Lake, the Power Metal Athabasca uranium portfolio now consists of eleven properties, including a conditional disposal1, with a combined total area of 780km2.
–The Athabasca Basin hosts over seven past and current uranium operations including McArthur River, the world’s largest high-grade uranium deposit and the Cigar Lake mine which was the world’s top uranium producer in 2020.2
A map of the Durrant Lake Uranium Property location is available at the following website link: https://www.powermetalresources.com/durrant-lake-uranium-overview/
Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:
“The Durrant Lake Uranium Property located within the Athabasca Basin, which hosts some of the world’s highest grade uranium deposits, represents a significant addition to the Company’s already sizeable Saskatchewan focused uranium portfolio.
We look forward to providing further updates on developments across our Athabasca uranium interests in the near term.”
FURTHER INFORMATION
Mineral Claim Staking Process
The Mineral Claim constituting the Durrant Lake Uranium Property was acquired directly through the Mineral Administration Registry Saskatchewan (MARS) electronic registry system.
Where a previous claim owner is unable to satisfy the claim maintenance requirements, that ground becomes reopen to third party staking at a set time each month. At reopening, areas of high uranium prospectivity can become segmented as different parties compete to register Mineral Claims over the newly opened ground. In the case of the open ground covering the wider Durrant Lake area, Iso Energy Ltd acquired approximately 4.30 km2 of the newly reopened ground, with Power Metal acquiring 58.66km2, representing the vast majority of the newly available area (c. 62.96km2).
The cost of staking of the Property was Canadian $3,519.78. The newly staked licence comes with a two-year term with no minimum spend requirement and which can then be extended for subsequent years by spending a minimum of Canadian $87,990 per annum.
The Durrant Lake Property
The Durrant Lake Uranium Property is surrounded by ground held by major uranium operators and explorers including Orano SA, Denison Mines Corp (TSX: DNN) and Iso Energy Ltd (TSX-v: ISO).
The Hurricane Zone, which is part of the Iso Energy Ltd’s 100% owned Laroque East property, is a 575m long by 75m across and up to 11m thick uranium deposit that is located less than 15km northeast of the Durrant Lake Uranium Property. The Hurricane Zone includes notable drill intercepts of up to 33.9% U3O8 over 8.5m, including 57.1% U3O8 over 5.0m.3
Property Geology
Geological reports highlight that the Property is underlain by around 200-300m of sandstone that sits unconformably over crystalline basement, which is logged as metasedimentary and intrusive lithologies of the Mudjatik Domain.
The unconformity between the sandstone and the underlying crystalline basement lithologies is the main target for uranium exploration in Saskatchewan, and deposits such as McArthur River (416 Mlb at 15% U3O8), Cigar Lake (152.4 Mlb at 7.55% U3O8), Hurricane and Phoenix (60 Mlb at 19.1% U3O8) are located at, or in close proximity to this geological contact zone.
URANIUM PROPERTIES – HOLDING STRUCTURE
Power Metal has a 100% subsidiary Power Metal Canada Inc (“Power Canada”), which acts as the holding Company for certain Canadian project operations. Power Canada has a wholly owned subsidiary, 102134984 Saskatchewan Ltd, which is the holder of the Company’s Athabasca uranium portfolio.
The Power Metal Canada Uranium Property Map is available to view at the following link:
https://www.powermetalresources.com/power-metal-canada-uranium-map/
Table 1: 102134984 Saskatchewan Ltd., Athabasca Basin Property Holdings*
|
Project |
Licence ID |
Area (Hectare) |
Area (km2) |
|
Clearwater Uranium Property |
MC00015079 |
1,110 |
11.1 |
|
MC00015083 |
563 |
5.63 |
|
|
MC00015082 |
3,191 |
31.91 |
|
|
MC00015151 |
760 |
7.6 |
|
|
MC00015646 |
761 |
7.61 |
|
|
MC00015658 |
1,541 |
15.41 |
|
|
Tait Hill Uranium Property |
MC00015078 |
1,576 |
15.76 |
|
MC00015081 |
968 |
9.68 |
|
|
MC00015153 |
1,530 |
15.3 |
|
|
MC00015152 |
1,886 |
18.86 |
|
|
MC00015647 |
725 |
7.25 |
|
|
MC00015648 |
1,129 |
11.29 |
|
|
Thibaut Lake Uranium Property |
MC00015077 |
2,206 |
22.06 |
|
MC00015659 |
2,195 |
21.95 |
|
|
Soaring Bay Uranium Property |
MC00015080 |
1,255 |
12.55 |
|
MC00015155 |
3,375 |
33.75 |
|
|
MC00015874 |
748 |
7.48 |
|
|
MC00015875 |
2,529 |
25.29 |
|
|
Cook Lake Uranium Property |
MC00015212 |
984 |
9.84 |
|
E-12 Uranium Property |
MC00015213 |
1,323 |
13.23 |
|
Reitenbach Uranium Property* |
MC00015214 |
2,135 |
21.35 |
|
MC00015474 |
1,235 |
12.35 |
|
|
MC00015655 |
4,570 |
45.7 |
|
|
MC00015656 |
5,322 |
53.22 |
|
|
MC00015657 |
856 |
8.56 |
|
|
MC00015824 |
528 |
5.28 |
|
|
Reindeer Lake** |
MC00015522 |
3,336 |
33.36 |
|
Porter Lake** |
MC00015561 |
5,656 |
56.56 |
|
MC00015562 |
5,198 |
51.98 |
|
|
Old Woman Rapids** |
MC00015563 |
4,851 |
48.51 |
|
MC00015564 |
5,063 |
50.63 |
|
|
MC00015565 |
3,044 |
30.44 |
|
|
Durrant Lake*** |
AC00018000 |
5,866 |
58.66 |
|
Total Licence Holding Area |
78,018 |
780 km2 |
|
*Reitenbach Property conditionally disposed to Teathers Financial PLC as announced 8 August 2022.
**Property acquisition announced on 25 July 2022 – licence transfers complete.
***Newly staked Property
#ORPH Open Orphan – Vaccine field study contract
Open Orphan plc (AIM: ORPH), a rapidly growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that hVIVO , a subsidiary of Open Orphan, has been awarded a new study with an existing Big Pharma client to act as a vaccination site for a Phase II field study of the client’s respiratory syncytial virus (RSV) vaccine candidate.
As part of the study, hVIVO will recruit 60 healthy volunteers to the Company’s new site clinic at Plumbers Row, where they will then be inoculated with either the RSV vaccine candidate or a placebo. As opposed to a human challenge study, where volunteers would then be challenged and quarantined within hVIVO’s FluCamp facilities, these participants will then be free to leave the facilities. Participants will then be monitored for RSV symptoms over the following months, with regular clinical check-ups at Plumbers Row, to assess the efficacy of the vaccine candidate and its ability to prevent illness through RSV. The study is expected to begin in Q3 2022 with the majority of revenue from the contract recognised in 2023.
This is the first vaccine field study the Company has been awarded since it announced the expansion of its facilities on 8 March 2022 . In addition to the core human challenge studies the expansion has enabled Open Orphan to provide a larger service offering including non-first in human Phase I trials such as PK (pharmacokinetics) studies, bridging studies and Phase II trials in patients and healthy volunteers.
The volunteers for the study will be recruited through the Company’s specialist volunteer recruitment arm, FluCamp . FluCamp has decades of experience attracting suitable healthy subjects to meet recruitment requirements, primarily sourcing subjects for hVIVO trials to date. FluCamp’s large database, tech-enabled platform and recently improved screening capabilities will mean that hVIVO is able to efficiently recruit and assess potential volunteers for its client’s field studies in a timely and cost-effective manner.
Yamin ‘Mo’ Khan, Chief Executive Officer of Open Orphan, said : “This is a significant award for Open Orphan as it is our first study as a site. To date we have mainly acted as a Contract Research Organisation to provide either challenge studies, laboratory or consulting services. Although we have acted as a site as part of the challenge studies, we have not provided stand-alone site services. We expanded our facilities at Plumbers Row in March of this year with the aim to provide site services. It is a great testament to the team that they have been able to fulfil site activity work in such a short timeframe. There are a great number of synergies between our core challenge study activities and new the site services, this will help us to conduct the new work in an efficient manner.”
Interested in becoming a volunteer?
hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website, www.flucamp.com . By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.
Individuals interested in taking part in COVID-19 human challenge study research can learn more at www.UKCovidChallenge.com .
For further information please contact:
|
Open Orphan plc |
+353 (0) 1 644 0007 |
||
|
Cathal Friel, Executive Chairman Yamin Khan, Chief Executive Officer |
|
||
|
|
|
||
|
Liberum Capital (Nominated Adviser and Joint Broker) |
+44 (0) 20 3100 2000 |
||
|
Ben Cryer/ Edward Mansfield/ Phil Walker/ Will King |
|
||
|
|
|
||
|
finnCap plc (Joint Broker) |
+44 (0) 20 7220 0500 |
||
|
Geoff Nash / James Thompson / Richard Chambers |
|
||
|
|
|
||
|
Davy (Euronext Growth Adviser and Joint Broker) |
+353 (0) 1 679 6363 |
||
|
Anthony Farrell |
|
||
|
|
|
||
|
Walbrook PR (Financial PR & IR) Paul McManus / Sam Allen / Louis Ashe-Jepson |
+44 (0)20 7933 8780 or openorphan@walbrookpr.com +44 (0)7980 541 893 / +44 (0) 7502 558 258 / |
||