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Power Metal Resources signs option on potential new acquisition
StockMarketWire.com
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Metals exploration company Power Metal Resources has secured an exclusive 60-day option in respect of a potential new acquisition of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia.
The company said Paterson Province is considered highly prospective for gold-copper and base metal mineral systems and is currently of particular focus for resource companies with a significant level of exploration activity underway across the region.
The area also has developed mine and processing infrastructure due to the presence of established mining operations.
Chief executive Paul Johnson said: Power Metal is keen to build its exposure to Australian base and precious metals exploration where there is, in our view, the potential for large scale metal discoveries in a secure and stable operating environment.
Power Metal is positioning itself to develop a diverse and expansive exploration business in Australia, and this is another important step forward.
At 1:53pm: (LON:POW) share price was 0p at 1.9p
Story provided by StockMarketWire.com
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