Power Metal Resources PLC (AIM:POW) said drilling at the Silver Peak project in British Columbia, Canada, unearthed ‘bonanza’ grades.
Ten of nineteen drill holes encountered the bonanza silver measures, which reached up to 17,015 grams per tonne in some assays.
The company said these are some of the best silver results at the project to date (read the full drill report here) and additional interpretation of the drilling data is currently underway.
"The Phase I drill programme, was designed to test for frequency and extent of the high-grade silver mineralisation encountered in 2020, and has been a great success,” said chief executive Paul Johnson.
“Our original decision to invest in the Silver Peak project has been fully validated by each stage of exploration work and the bonanza silver grades, including a highlight intercept of 0.76m of 8,692.2g/t Ag, confirmed today represent the biggest step forward for the Project to date.
“We now move to review the findings in further detail to determine next steps from both exploration and corporate perspectives."