logo-loader
viewPower Metal Resources

Power Metal Resources expands portfolio with Alamo project in Arizona

“The project has a rich story and one in which we are excited to have the opportunity to play a part," said Paul Johnson.

Power Metal Resources - Power Metal Resources expands portfolio with Alamo project in Arizona

Power Metal Resources Plc (LON:POW) has inked a deal giving it access to the Alamo project  in Arizona, adding geographic diversity to the company’s African portfolio.

The Alamo project comprises some 340 acres see as being prospective for gold, with native gold nuggets observed near surface in multiple locations. Additionally, the region is noted to be prospective for precious and base metals.

With the agreement, the company has secured the right to acquire a 60% interest in the project.

"POW is making great progress in Africa across its power metal projects, and shareholders should expect further updates in the near term covering operational and corporate activities,” said Paul Johnson, chief executive.

“As a company we have remained open to the review of new additional opportunities and stated we may move ahead with compelling projects, including new jurisdictions outside Africa and in new commodities.”

He added: “The Alamo project provides access to a package of claims with notable native gold nugget finds at surface, and a geological backdrop that encourages us to search for the source of the nuggets in the bedrock where, it is postulated, the potential for a large gold system exists.

“The project has a rich story and one in which we are excited to have the opportunity to play a part.”

Quick facts: Power Metal Resources

Price: 0.325 GBX

AIM:POW
Market: AIM
Market Cap: £1.8 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Power Metal Resources named herein, including the promotion by the Company of Power Metal Resources in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Power Metal's Paul Johnson details 2020 ambitions and wider market expectations

Power Metal Resources PLC's (LON:POW) Paul Johnson caught up with Proactive London's Andrew Scott following its £700,000 raise and news of a potential new gold project in Arizona. Away from POW, Johnson talks through some of the explorers he's been keeping an eye on and is expecting to do...

on 18/12/19

2 min read