Daily Banking News
$42.39
-0.38%
$164.24
-0.07%
$60.78
+0.07%
$32.38
+1.31%
$260.02
+0.21%
$372.02
+0.18%
$78.71
-0.06%
$103.99
-0.51%
$76.53
+1.19%
$2.81
-0.71%
$20.46
+0.34%
$72.10
+0.28%
$67.30
+0.42%

Power Metal Resources PLC secures option to acquire two prospecting licences in


PLC () announced has secured an option to acquire two prospecting licences for gold and nickel and located upon the Tati Greenstone Belt, Botswana.

The option allows for a 60-business day due diligence period and, should the miner exercise it, it will undertake the licence acquisitions through its newly formed 100% owned subsidiary Power Metal Resources Botswana.

WATCH: Power Metal Resources’ Paul Johnson talks exploration, spin-outs and ‘crystallising value’

The vendor is Vital Commodities, owned by Guernsey-based Equity Drilling Limited.

The Tati Greenstone Belt, located in the northeast of the country, contains many orogenic style gold deposits and several economically significant intrusive magmatic Nickel-Copper-Platinum Group Elements rich sulphide deposits, the AIM-listed firm said.

“We recently formed Power Metal Botswana to provide a holding company for new acquisitions in Botswana and I am pleased to announce this first transaction,” said chief executive Paul Johnson in a release. 

“Subject to due diligence, this acquisition would give the company exposure to a new strategic project in the heart of the Tati Greenstone Belt, an under-explored area which we believe holds considerable potential for new gold and nickel discoveries.”

“This announcement further confirms the company’s commitment to expanding our operational interests in Botswana, which is a first-class destination for responsible exploration companies. Uniquely, the transaction incorporates an option fee that is convertible into a down payment against project drilling in Botswana.”



Read More: Power Metal Resources PLC secures option to acquire two prospecting licences in

Get real time updates directly on you device, subscribe now.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.