Power Metal Resources announced the results of a series of tests on their Uranium assets on Friday, some of which contained extremely high-grade samples.
Power Metals is exploring the Thibault Lake, Clearwater and Tait Hill properties in the Athabasca Basin area in Saskatchewan, Canada.
Highlights from their recent activities in the region include two rock samples of 4.7% and 2.4% U3O8 recovered from Thibault Lake assay results, and sampling at Clearwater revealed the presence of 1,120 ppm (0.112%) U3O8.
“We are particularly excited by our Athabasca uranium portfolio, with twelve properties covering some 841km2 of footprint in this highly sought-after region for uranium exploration. Two of our properties, Reitenbach and E-12 are in the process of disposal as previously announced, and we continue to attract interest across the remainder of the portfolio and have established data rooms for each property to enable us to efficiently engage with third parties,” said Paul Johnson, Chief Executive Officer of Power Metal Resources.
Notwithstanding this, we intend to retain a number of the properties and to conduct proactive exploration across them. Today we have announced positive exploration findings from our latest, Summer 2022 phase I work programme covering three properties, and we will be launching additional ground exploration in 2023.
In the meantime, the commercialisation work in respect of our uranium portfolio continues, including both disposal activities and the search for new uranium focused projects to add into the Power Metal business.”
