Power Metal Resources PLC (AIM:POW) said it completed a technical review of historical data for four of its seven properties in Canada’s Athabasca Basin.
“All four properties show considerable uranium prospectivity which is notable,” said chief executive Paul Johnson.
The London-listed company said it was able to accelerate its technical review after it recently retained a UK-based geological consultant with extensive Athabasca Basin experience. The Athabasca Basin is the world's premier uranium district, and the world’s leading source of high-grade uranium.
It has also commissioned a NI 43-101 compliant report, which requires a lot more technical disclosure than the equivalent JORC code, on its 100% owned Reitenbach uranium property.
“At Reitenbach, we have decided to move expeditiously into the production of a NI 43-101 technical report, which is an important step should we wish to utilise the property within a corporate transaction,” said Johnson.