Power Metal Resources PLC - Metals exploration company focused on North America, Africa, and Australia - Expands Perch River uranium project in Saskatchewan, Canada. Notes that hyperspectral data analysis using satellite data on mineral reflectance conducted at Perch River identifies several helium anomalies on the project, ‘including the discovery of one extremely strong helium response in the centre of the project as well as several strong anomalies that previously lay north and northeast of the Project boundary.’ Firm secures further 1,514.8 hectares at Perch River, representing an increase of about 38% in the projects size to a total of 5,455 hectares. ‘The newly acquired ground covers several strong hyperspectral helium anomalies located along the same geological trend and which further overlie prospective geology,’ Power Metal resources explains.

Chief Executive Officer Sean Wade says: ‘There has been excellent work conducted across our uranium portfolio, and that work is continuing. I know shareholders will be encouraged by the progress we are making, especially since the uranium market is really starting to come to life. There is a lot more news to come from this key part of our overall portfolio, and I look forward to updating shareholders further in the coming weeks.’

Current stock price: 0.79 pence, closed down 1.5% on Thursday

12-month change: down 47%

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