Power Metal Resources (LSE:POW), via its uranium-focused joint venture Fermi Exploration, has defined three high-priority uranium targets at the Reitenbach Property in Saskatchewan’s Athabasca Basin. The targets, covering a combined area of roughly 100 hectares, were outlined using a combination of radon surveys and Ionic Leach soil geochemistry.
The work concentrated on the Nuphar North, Nuphar South and Goodleap areas, where results point to a ribbon-style geochemical anomaly. This pattern is interpreted as glacially transported material derived from a concealed pegmatite and fault-hosted uranium source located to the north. The interpretation is supported by correlations with lead isotope signatures, rare earth elements and alignment with known regional ice-flow directions.
In addition to the three priority zones, the company highlighted four further boulder fields showing radiometric anomalies that remain largely untested, indicating significant scope for additional target generation. Before committing to higher-cost, helicopter-supported drilling, Power Metal plans to continue refining these anomalies and improving its understanding of key structural corridors, including those associated with the Needle Falls Shear Zone. Management said this staged approach is intended to underpin a technically robust and capital-efficient drill programme at Reitenbach.
From an investment perspective, the outlook reflects a combination of balance sheet strength and perceived asset undervaluation, partially offset by operational risks and negative cash flows typical of early-stage exploration. Technical indicators suggest caution in the near term, with bearish trends still evident.
More about Power Metal Resources Plc
Power Metal Resources Plc is an AIM-quoted and OTCQB-traded exploration company with an increasing focus on uranium through Fermi Exploration Ltd. The group is building a portfolio of early-stage and drill-ready projects in highly prospective jurisdictions, including Canada’s Athabasca Basin, targeting uranium and other critical metals aligned with global energy transition and resources demand.
Leave a Reply