Power Metal Resources PLC (AIM:POW) has updated on its uranium portfolio of assets in the Athabasca Basin, Saskatchewan, where it has now fully-digitised all historic works into a database.
The company added that it has retained a UK-based geological consultant with extensive Athabasca Basin experience to help push forward the company’s uranium initiatives and projects. Based on historic data and data obtained in last year’s Phase 1 programmes, the company is expecting to plan various exploration initiatives across the portfolio in 2022.
Additionally, a data-room is expected to be set up to enable interested third-parties to conduct due diligence.
“To maximise any commercial outcome, and to optimise exploration we have gathered as much data as possible in respect of the properties, and the information gleaned is, in our view, highly valuable," said Paul Johnson, Power Metals chief executive.
Johnson added: "Our move into uranium exploration has been planned for some time and commenced with the September 2021 staking surrounding the Athabasca Basin.
“The staking undertaken was highly selective, focusing on areas where historical recorded work had demonstrated uranium mineralisation or where other geological features suggested that ground would be prospective.
“Although selective, the seven properties are clearly attracting some interest and we are looking at potential commercialisation options alongside planning for proactive 2022 exploration programmes.”