Power Metal Resources PLC (AIM:POW) said subsidiary Golden Metal Resources had identified several gold, tungsten and copper targets at its projects in Nevada.
Paul Johnson, chief executive, added: "It is abundantly clear from our exploration work to date that the Golden Metal project portfolio hosts several underexplored, highly prospective, gold, tungsten, copper and silver exploration targets.
"We believe that the Pilot Mountain project holds the potential to substantially increase the existing JORC (2012) compliant Resource and also the potential to expand on the multiple copper-rich zones identified by limited historical drilling to the east of Desert Scheelite and Good Hope.
"Golconda Summit, positioned in a neighbourhood of dramatic scale Carlin-type gold deposits, has the potential for another major gold discovery."
Power Metal is preparing for the listing of Golden Metal Resources in London.