Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce the Company has signed an option agreement (the “Option Agreement”) in respect of the Silver Peak Project (the “Silver Peak Project” or the “Project”) in British Columbia, Canada. The Project includes the Eureka-Victoria Silver Mine, the first Crown-granted mineral property in British Columbia.
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CHIEF EXECUTIVE OFFICER’S STATEMENT
Paul Johnson Chief Executive Officer of Power Metal Resources plc commented “The Option over the Silver Peak Project provides Power Metal and its shareholders with exposure to a silver project with previous history of production in a safe jurisdiction and with a number of well-defined exploration objectives.
“We enter this opportunity at a time when silver has been experiencing a significant increase in price and when the underlying value of silver projects is, in our view, going to follow.
“We also consider that this silver project complements the Company’s Alamo Gold Project interest in Arizona, USA, the agreement for which was signed and announced to the market recently and where exploration work is now underway.
“Taking both projects together, we are now beginning to build a robust North American precious metal focused portfolio, with strong exploration potential and backed by operational and advisory teams who are at the heart of mining and exploration in North America.”
