Power Metal Resources PLC (LON:POW) told investors in a statement before the market close on Tuesday that it has wrapped up its additional field programme at the Silver Peak project, in Canada, as harsh weather conditions drew in.
The company said it squeezed additional exploration into the schedule after a summer due diligence programme saw bonanza gold grades, and it was able to obtain rock-chip samples and drill six shallow diamond drill holes.
READ: Power Metal boosted by Arizona, Congo and Botswana updates
“We wanted to follow up expeditiously with further work before the weather window closed, gathering additional information to aid preparation for the project's next stage of development,” said Paul Johnson, Power Metal chief executive in a statement.
“To do this we have worked closely with our partners to adapt very rapidly to changeable weather forecasts. I would like to thank the exploration team for persevering despite the stormy conditions, followed up by snowfall, the heaviness of the latter bringing the work programme to an early conclusion.”
“The additional work undertaken by the team has added to our geological understanding of the silver mineralisation and we have secured samples which have now been delivered to the laboratory for assay testing.”
Johnson added "we are working closely with our partners to determine next steps for Silver Peak, from both exploration and corporate perspectives. There is palpable demand for high-grade silver projects in the market at present."