Power Metal Resources PLC (AIM:POW) said that it has identified a 12-kilometre (km) anomalous feature at its Soaring Bay uranium asset in northern Saskatchewan, Canada.
As a result, Power Metal has increased its footprint at Soaring Bay by 71% to 79.07 square kilometres (sq km) through additional staking of adjacent uranium-prospective ground.
Paul Johnson, chief executive, said that historical data at the property collated by Power Metal included 700 metres of anomalous readings, some of which fell outside of the property footprint.
“Fortunately, we were able to secure the additional ground, which remained un-staked, to cover this highly anomalous area in full.”
Soaring Bay is part of a larger uranium portfolio that includes seven interests covering an area of 450sq km.