Power Metal Resources PLC (LON:POW) has released an operational update for shareholders.
"Through the past two years, as evidenced by our market updates, we have built a global resource exploration and development company, with precious, base, and strategic metal interests in North America, Africa, and Australia,” said chief executive Paul Johnson.
“We have multiple workstreams underway, seeking our dual objectives of large scale metal discoveries and corporate activities to build our ‘balance sheet’ through vend outs of certain interests into their own (mainly listed) vehicles in which Power Metal holds a significant stake.”
Among the highlights was news that legal counsel has now been appointed to assist with the listing of the company’s Australian exploration joint venture with Red Rock Resources PLC (LON:RRR).
Power Metal has also formed Kanye Resources PLC, a holding company structure for a planned listing of Kanye Resources on a recognised stock exchange.
Kanye Resources holds the Ditau project and the Ghanzi South project, both in Botswana.
At Ditau, an exploration camp has been established and the field team has continued taking soil samples and conducting ground magnetic surveys. A new senior geologist has been recruited to oversee operations.
Data is currently being analysed on the I10 target. Results from this are expected to guide future exploration of the remaining 9 potential carbonatite targets.
At Ghanzi South sampling continues.
Elsewhere, at Molopo Farms, drill core has been cut and samples set to labs.
In Canada, the acquisition of seven projects at Hemlo/Schreiber is now complete, and preliminary exploration work is planned. Meanwhile, at Silver Peak, exploration will recommence in the spring.
At Kinska, in the Democratic Republic of Congo, work on the 6.8 kilometre copper-cobalt anomaly continues.
At Haneti in Tanzania, samples have been delivered to the lab for analysis.
And in the USA a ground exploration programme has been completed at the Alamo gold project, and a full technical review is underway.