Power Metal Resources (LON:POW) Haneti Project – Exploration Potential

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented “Today’s announcement from Katoro clearly outlines the depth and range of opportunity that Haneti offers Katoro Gold and Power Metal Resources.

Power Metal Resources plc (LON:POW) the AIM listed African focused metals exploration and development company is pleased to draw investors’ attention to the announcement issued today by Katoro Gold plc (LON: KAT)(“Katoro Gold”)(“Katoro”) outlining the exploration potential of the Haneti Project (“Haneti” or the “Project”), in Tanzania.

Investors wishing to view the Katoro Gold announcement may do so through the following link:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/rg0z97x/export

POW Interest in Katoro Gold and Haneti Project

Power Metal Resources currently holds 10,000,000 shares which currently represents 5.90% of Katoro Gold’s issued share capital. In addition, POW also currently holds 10,000,000 warrants in Katoro Gold exercisable at 1.25p (2,500,000 warrants expiring on 15 March 2022 and 7,500,000 warrants expiring on 15 May 2022).

POW also has a 25% interest in Katoro Gold’s Haneti nickel project in Tanzania, with a right to increase its interest to 35% by a payment to Katoro Gold of £25,000 in cash by 15 May 2020.

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented “Today’s announcement from Katoro clearly outlines the depth and range of opportunity that Haneti offers Katoro Gold and Power Metal Resources.

The Haneti project, in terms of scale and diversity, is quite unique, and provides the potential for a number of large-scale exploration and development opportunities.

The key focus, naturally, is the advanced nickel sulphide prospective Mihanza Hill, where a drill programmed is planned. However, it would be a mistake to not highlight other opportunities in the licence area, including the greenstone gold prospective ground to the west of the licence package situated just 10km from Shanta Gold’s Singida gold project.

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I am looking forward to working with Katoro to advance Haneti and to updating the market as we progress towards our principal objective of making a large scale metal discovery.”

Extracts from the Katoro announcement are provided here www.share-talk.com/katoro-gold-plc-lonkat-haneti-nickel-project-exploration-potential/

 

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